May 15, 2019Burkina Faso
President Emmanuel Macron of France announced on May 10 that French military forces rescued four hostages in Burkina Faso held by Islamist militants. Two were French, one was American, and one was South Korean. No authorities have released freed hostage names, citing privacy considerations. However, the operation cost the lives of two French soldiers, the names of whom have been made public.
November 13, 2019United States
Most grandiose explanations for the United States persistent surplus in the income balance of the U.S. current account miss the mark. The U.S. debt position tracks the sum of past current account …
October 17, 2019Nigeria
In August, President Muhammadu Buhari ordered closed Nigeria’s land border with Benin, preventing the import of goods. The move significantly affected trade in foodstuffs. It is part of an effort to tackle smuggling and associated corruption, but also, apparently, to spur the domestic agricultural industry. On October 14, Nigeria ordered closed all of Nigeria’s borders with Benin, as well as those with all other countries, for the same reasons.
October 8, 2019Taiwan
Who is on the other side of the massive ($250 billion) hedging need of Taiwan's life insurance industry? The local banking system covers at most a quarter of the life insurers hedging need, and forei…