June 13, 2018South Africa
There are signs that South Africans are reverting to the non-payment of taxes. The Treasury estimates that half of the revenue shortfall in 2017 resulted from personal income taxes that the government had budgeted for but were not paid. In the short term, the revenue short fall is compelling Ramaphosa to raise the VAT.
May 25, 2018Iran
U.S.-Iranian conflict resolution is in flux following withdrawal from the nuclear deal, and it remains unclear whether sanctions will be sufficient to force Iran back to the negotiating table. A deeper dive into the energy realpolitik of the matter reveals a host of barriers to improving the status quo in the Middle East.
May 24, 2018Turkey
Turkey’s currency initially rallied after the central bank raised interest rates yesterday. Perhaps a bit more orthodoxy is all it will take to restore a modicum of stability to Turkey’s markets. The…