In the last 20 years or so Africa has been an intermittent strategic interest for the US. Successive US presidents have attached contrasting levels of importance to the continent. This has been clear from their policies and strategic engagement. But with the rise of China as a strategic competitor in Africa the focus on US-Africa […]
the pros and cons of borrowing abroad versus at home
A government which decides to borrow – either because it has programmed a budget deficit or needs to refinance maturing debts – faces two, non-mutually exclusive possibilities: borrow domestically in the local currency or borrow externally in a foreign currency. Developed countries borrow predominantly at home and in their currencies. This is because they have […]