Uganda’s long term President, Yoweri Musuveni, has told opposition leaders that he’s not going anywhere and they should put aside any dream they might have that he will hand over power anytime soon. On the one hand this is simply what any politician in power will say. On the other, well, he’s been there more than three decades already and, well, when? What might slightly worry is Musuveni’s statement of why he went into politics and what he needs to achieve before he leaves.…
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IMF Tells Ethiopia – No More Foreign Currency Market Borrowings, Probably Sensibly
The IMF has told the Ethiopian Government that it really must stop borrowing from the overseas markets in foreign currency – this is probably a very sensible idea. Not because more capital wouldn’t aid in developing the country, but because Ethiopia just isn’t that developed as yet. This means that it doesn’t have the fiscal room to take on debt levels which more advanced countries would simply laugh at.
This is actually one of those little problems we’ve got with development.…
See MoreNigeria’s Minimum Wage Is Too High At $80 A Month – Don’t Raise It
There’s a threat of strike action in Nigeria over the new possible level of the national minimum wage. The problem is that the demand of N 30,000 (call it $80 among friends) comes when it is obvious that the current minimum wage is already too high. Yes, $80 is to high. Note that’s not an hourly sum but a monthly and it’s still too high.
We can work to this backwards. Look for what we would think to be the effects of a “too high” minimum wage and then, if we see them, conclude that it is too high.…
See MoreOh, The Joy, The Irony – Kenyan MP Johnny Savula Arrested Over Advertising Graft
In common with a number of other poor places Kenya is wracked with corruption in public office. This being one of the things which goes along with poverty, the government splashing the tax revenues into the pockets of the governors rather than just wasting it normally like all other governments. We’ve a story here though which is just joyous with the irony of it. One of the more populist of the current MPs, Ayub Savula, has been detained in a case concerning the lifting of part of the government’s advertising budget.…
See MoreIndia’s Pulse Market – The Latest Piece Of Fear, Uncertainty, Doubt Is Glycophosphate Residues
As we’ve seen endlessly in the tech markets there’s nothing like sowing a bit of fear, uncertainty and doubt to make sure that people don’t stray off the desired path. So we might think it is with this latest little deliciousness in the Indian market for pulses – dried peas, lentils, that sort of thing. For locals are being regaled with stories of foreign imports being laced with terribly dangerous pesticides. You know, to make sure they desire and choose the local equivalents?…
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