Five years ago, economists prophesied a prosperous future for Nigeria, and the rest of the continent. Yet today, the country is facing what one leading Nigerian academic recently told me is its “biggest crisis since independence”. The devaluation of the Nigerian naira by 230% over the past year, along with a huge rise in inflation, has sparked an economic crisis unequalled in its modern history. With meat, eggs and milk now a luxury, there have been reports of people in the north of the country being forced to eat poor-grade rice usually used as fish food.
Economics
Heiner Flassbeck, Patrick Kaczmarczyk – Argentina: Devaluation and American interference, but no progress otherwise
No sooner had Javier Milei won the congressional elections with the help of unprecedented American interference in the election campaign than the libertarians regained the upper hand and once again celebrated the Argentine president’s economic […]
Economics
Michael Hudson: Mainstream Economics Has Become a Celebration of the Wealthy Rentier Class
The One Percent have found a pressing need for the services of mainstream economists Read here
Economics
CNBC: U.S. GDP fell at a 1.4% pace to start the year as pandemic recovery takes a hit
Gross domestic product in the U.S. declined at a 1.4% pace in the first quarter, below analyst expectations of a 1% gain. Declines in fixed investment, defense spending and the record trade imbalance weighed on […]
Be the first to comment