Politics

Fiscal Policy

France Has a €44 Billion Budget Plan. Whether It Can Actually Deliver Is Another Question Entirely.

The French government under Prime Minister Sébastien Lecornu entered 2026 with a budget package containing €44 billion in fiscal measures, equivalent to approximately 1.5% of GDP. The plan targets a public deficit of no more than 5.1% of GDP this year, a modest improvement from 5.4% in

Monetary Policy

Malaysia's Central Bank Has Held Rates at 2.75% for Almost a Year. The IMF Says That Is the Right Call.

Bank Negara Malaysia reduced its overnight policy rate to 2.75% in July 2025 and has held it steady since. That is nearly twelve months of unchanged rates in an environment where central banks across Europe, Australia, and parts of Africa have been actively moving their benchmarks in either direction,

Monetary Policy

Singapore Does Not Set Interest Rates. It Manages Its Currency Instead. Here Is Why That Decision Just Got Harder.

Most central banks around the world adjust monetary policy by raising or lowering interest rates. Singapore's Monetary Authority takes a fundamentally different approach. Instead of setting a benchmark rate, the MAS manages monetary policy by controlling the level and rate of appreciation or depreciation of the Singapore dollar

Monetary Policy

The World Is Splintering Into Trade Blocs. For Developing Countries, That Is Both an Opportunity and a Threat.

Something significant is happening to the architecture of global trade, and it is moving faster than most policymakers anticipated. What is often called deglobalisation is more accurately described as a targeted recalibration. Certain sectors, technologies, and supply chains are being reorganised around geopolitical priorities rather than cost efficiency alone. This

Monetary Policy

Nigeria's Rate Is 26.5%. South Africa Just Hiked to 7%. Why African Central Banks Are Tightening While the World Eases.

While central banks in Europe, Canada, and parts of Asia were cutting rates through 2025, most African central banks were moving in the opposite direction, raising rates sharply or holding them at levels that make borrowing painfully expensive for businesses and households. In 2026, that divergence is widening. Zimbabwe maintains

Fiscal Policy

Trump's Tariffs Have Raised the Average US Household's Tax Bill by $1,500. Here Is What the Data Actually Shows.

The debate over whether American protectionism is working depends entirely on which number you look at and whose analysis you trust. In 2026, both sides of that argument have data. The Trump tariffs represent the largest US tax increase as a percentage of GDP since 1993 and amount to an

Monetary Policy

The UAE Just Launched a Digital Dirham. China Has 1.8 Billion CBDC Wallets. The Race for Digital Money Is Moving Fast.

Central bank digital currencies are no longer a future concept. In 2026, they are live infrastructure in some of the world's most significant economies, and the gap between leaders and followers is widening rapidly. The Central Bank of the UAE officially launched the Digital Dirham for retail use

Fiscal Policy

Poland Has the Highest Fiscal Deficit in the EU This Year. Defence Spending Is the Reason. Here Is the Full Picture.

Poland is growing faster than almost any other country in Europe. It is also running the European Union's largest fiscal deficit as a share of GDP in 2026. Those two facts are not contradictions. They are directly connected. Fiscal consolidation is expected to advance in 2026, with the

Fiscal Policy

China Is Running a 3.8% Budget Deficit to Keep Its Economy Moving. Here Is What That Spending Is Actually For.

The conversation about China's fiscal policy in 2026 tends to get lost behind the louder story of the US-China trade deal. But the domestic fiscal picture deserves its own attention. China is spending deliberately, and the composition of that spending tells you more about where the economy

Monetary Policy

Canada's Central Bank Is Sitting at 2.25% and Not Moving. The Reason Is More Complicated Than It Looks.

Canada's Bank of Canada held its overnight rate at 2.25% at its April 2026 meeting, and the message from the Governing Council was deliberate in its ambiguity. The bank refrained from giving clear direction on future rates, cited an "uncertain geopolitical backdrop," and acknowledged that

Monetary Policy

Australia's Reserve Bank Has Raised Rates Three Times in 2026. A Fourth Is Not Off the Table.

Australia came into 2026 expecting rate relief. The Reserve Bank had cut three times in 2025 and borrowers with variable rate mortgages had finally started to breathe a little easier after the aggressive hiking cycle of 2022 to 2024. Then inflation came back, and the RBA changed direction again. The

Fiscal Policy

Africa's Debt Problem Is Crowding Out the Spending That Would Actually Help People

The headline numbers for Sub-Saharan Africa in 2026 are not bad. Growth is projected at 4.1%, the median fiscal deficit has narrowed from 3.4% of GDP in 2024 to an estimated 3.0%, and median public debt improved from 57.2% of GDP to 53.1% between