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Tax exposes fiscal challenge facing Italy’s coalition

Location:

ITALY

The measure sent bank stocks tumbling and ignited intense political debate, after which the government partially backtracked. The displays the ad-hoc nature of Meloni's economic…

Climate finance will grow but huge challenges persist

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INTERNATIONAL

Climate investment globally topped USD1tn last year but remains well short of the estimated USD8tn requirement. Most funding goes to developed economies and mitigation projects…

Equity markets are more vulnerable than bond markets

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INT

The scope for looser policy remains uncertain given persistent inflationary pressures and the strength of the US labour market, while financial conditions are easier than when the…

Egypt's external debt looms large

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EGYPT

Meanwhile, the government is struggling with significant accumulated debt, including USD11.8bn that is scheduled to be repaid to the IMF over the next two years alone. The IMF…

Israeli housing market downturn may damage growth

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ISRAEL

Record high prices (founded in part on limited supply) and rising interest rates are weighing heavily on Israel’s housing market. Home sales fell by nearly two-thirds over the…

Prospects for African economies to end-2023

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PROSPECTS H2 2023

The downgrade reflects the expected realisation this year of the delayed global economic slowdown. The resulting debt overhang in the region has depleted the space for fiscal…

Russia will struggle to restructure ailing monotowns

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RUSSIA

Millions of Russians (close to 10% of the population) still live in depressed 'monotowns' – single-factory (or single-industry) towns built in the Soviet era. Many monotowns are…

China’s economy recovers but key issues will remain

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CHINA

Growth in retail sales and industrial value added accelerated in August, supported by rising household incomes and warming domestic demand. Moreover, unemployment edged down…

Crime will aggravate South Africa’s growth crisis

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SOUTH AFRICA

South Africa’s crime rates have long been among the world’s highest. Much of this constitutes interpersonal violence, where the victim and perpetrator know each other. However…

Escalation options for Yemen’s Huthi are limited

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YEMEN

Following those strikes, UK Prime Minister Rishi Sunak said the group had launched 197 attacks against international shipping since the Gaza war began in October 2023. The Huthis…