If you’ve been thinking about starting your own business lately, you’re not alone. Americans began launching ventures in record numbers during the pandemic, with an above-trend pace continuing through 2023. Unfortunately, many of of these enterprises won’t last long: 30% of new businesses fail within two years, and half don’t last past five, according to […]
Africa’s ports race is hyped as ‘development’ but also creates pathways for plunder
Ports have long been integral to Africa’s connectivity with the rest of the world. Yet over the last 15 years, a new stage in maritime infrastructure planning and development has begun. Between 2004 and 2019, over US$50 billion was spent on this infrastructure – roughly 13 times more than was spent between 1990 and 2004. […]
Ghana’s return to the IMF within three years underscores its deeper economic problems
Ghana is again seeking assistance from the International Monetary Fund (IMF) to enable the country to meet its payments to the rest of the world and restore the health of government finances. It is the second time in the past three years and 17th since independence in 1957 that Ghana has turned to the IMF […]
Five billion people can’t afford surgery – a team of innovators could soon change this
Have you or a loved one ever needed surgery? Imagine what your life would be like if you couldn’t have it. Billions of people around the world lack access to surgery because equipment and general anaesthesia are too expensive or unsuitable in their region. When we think about technological progress people tend to picture faster, […]
Why efforts by Côte d’Ivoire and Ghana to help cocoa farmers haven’t worked
A cocoa pricing agreement designed to protect farmers in Côte d’Ivoire and Ghana from destitution is being circumvented by multinationals, the main buyers of cocoa beans. Cocoa is the plant from which chocolate is made. Côte d’Ivoire and Ghana together account for 65% of global cocoa production, but farmers in these two countries earn less […]
Jobs are up, wages less so – and lower purchasing power could still lead the US into a recession
Don’t be overly fooled by seemingly rosy jobs data heading into the Labor Day weekend. Yes, the U.S. economy added 187,000 jobs in August 2023 – faster than the revised 157,000 increase for July and above most analysts’ expectations for the month. And yes, gains were seen across most industries, with health care and social […]
Ghana’s domestic debt restructuring has stalled: four reasons why
Ghana is facing multiple financial and economic challenges and has requested a US$3 billion bailout from the International Monetary Fund (IMF) to help it restore macroeconomic stability. This will include bringing public debt down to more manageable levels from the currently estimated 105% of GDP to 55% in present value terms by 2028. IMF assistance, […]
the state of the economy, the Indigenous ‘Voice’ and whether the first parliamentary week saw better standards
University of Canberra Professorial Fellow Michelle Grattan discusses the week in politics with University of Canberra Associate Professor Caroline Fisher. This week saw parliament meet for the first time since the election. Michelle and Caroline talk about Treasurer Jim Chalmers’ sombre report on the economy, and the early flurry of legislation. They also examine whether […]
New Brexit deal will be better for Northern Ireland’s economy than the protocol, research suggests
UK prime minister Rishi Sunak has said Northern Ireland will be “the world’s most exciting economic zone” due to its access to the EU single market under the latest post-Brexit trading deal between the EU and UK. The details of the Windsor framework are still being pored over by politicians and business leaders across the […]
mending fences and building bridges in the face of growing China presence
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 […]