On April 12, more than 27.3 million Peruvians went to the polls in one of the most fragmented and consequential elections in the country's recent history. With 35 candidates on the ballot and a record number of undecided voters heading into election day, no one expects a
Two of West Africa's biggest economies are posting numbers that would have seemed impossible three years ago, and the contrast with the chaos of 2022 to 2023 could not be sharper. Nigeria saw net capital inflows surge nearly 90% to $23.22 billion in 2025, driven largely by
Germany's parliament passed its 2026 budget with more than €180 billion ($208 billion) in new debt, a level surpassed only during the pandemic in 2021. The borrowing is made possible by two structural changes: a special €500 billion infrastructure fund and a new exemption allowing unlimited defence spending
China posted one of the most striking trade results in recent memory in early March. Exports grew 21.8% in US dollar terms in January and February combined, nearly triple the 7.1% growth analysts had expected and up sharply from the 6.6% recorded in December. The trade surplus
The two-week ceasefire between the US and Iran brought a wave of relief to markets on April 8. Oil fell sharply. Stocks surged. But four days on, the world is discovering that a ceasefire and a reopened strait are not the same thing. As of April 12, just seven
Argentina is the rare economy where things are genuinely getting better, and the speed of the improvement is catching the attention of policymakers well beyond Buenos Aires. After hitting inflation of nearly 290% in 2024, the country has brought that figure down toward low double digits through a combination of
The Bank of Japan kept its benchmark interest rate at 0.75% at its March meeting, the highest level since 1995. The decision was expected, and passed 8-1, with one board member pushing for an immediate move to 1%. The Bank's official position is that Japan'
The European Central Bank had been on a path toward lower interest rates heading into 2026, with its deposit rate at 2% and inflation broadly near target. That plan hit a wall on March 19 when the ECB postponed its planned rate reductions, raised its 2026 inflation forecast, and cut
The Federal Reserve held rates steady at its March 18 meeting, keeping the federal funds rate in the 3.50%–3.75% range. It was the second pause of 2026, following three consecutive rate cuts that closed out last year. Chair Jerome Powell acknowledged plainly that near-term inflation expectations
South Africa's economy grew 1.1% in 2025, its fastest pace in three years, and a meaningful improvement over the 0.5% recorded the year before. The agriculture, trade, and finance sectors all contributed. Power supply has been more reliable, and some of the logistical bottlenecks that throttled
Latin America is on track to grow 2.3% in 2026, roughly matching the past three years and suggesting the region has settled into a period of modest but stable expansion. Argentina stands out as the most dramatic turnaround story: after back-to-back recessions, the economy is rebounding, inflation
India remains the standout among large economies, with the IMF projecting 6.3% to 6.5% growth in 2026. That pace is driven by strong consumer spending, a manufacturing expansion supported by government incentive schemes, and continued growth in digital services. India is also benefiting from a steady shift of