Willem H. Buiter, NEW YORK – The unprecedented fiscal stimulus unleashed in the United States since the start of the COVID-19 pandemic calls for commensurate additional monetary stimulus. The restrictions imposed to control the spread of the coronavirus have caused the deepest global recession since World War II. Government-imposed lockdowns have varied in duration and […]
Melvyn Krauss STANFORD – Armin Laschet’s victory in the election to lead Germany’s Christian Democratic Union (CDU) puts him in pole position to succeed Chancellor Angela Merkel later this year. But the leadership contest was more about differences in tone and style than substance. From a policy standpoint, it makes no difference. Currently the minister-president […]
Mohamed A. El-Erian LAGUNA BEACH – As excited as we all understandably are about the arrival of the first COVID-19 vaccines, the immediate road ahead remains treacherous. The United States, in particular, could be on the verge of a horrible scenario in which ongoing slippages in each of four areas – public health, the economy, […]
The Uganda shilling started the week lower against the U.S. dollar on account of increased greenback demand. The local unit started the day on the back foot, weighed by increased activity in the foreign currency demand counter, that was unmatched by muted dollar inflows. The USDUGX currency pair closed the session 5 shillings higher by […]
The upbeat momentum of the USDUGX pair remained sound yesterday, dragging the local unit to new lows. The shilling has been drifting south versus the greenback in the last couple of days on account of buoyant dollar appetite amid a shortage of foreign currency inflows, high liquidity conditions, as well as bearish sentiments surrounding the […]
As I prepare to spend November in Addis Ababa and brush up on my terrible Amharic, the third quarter of 2019 was eventful for our company, Teseteo, but also business in Ethiopia as a whole. Privatizing EthioTelecom has only just begun – exciting times ahead as we watch the story unfold and find out which […]
The shilling traded relatively flat versus the greenback in what was a dull Wednesday trading session. Matching flows on both the demand and supply counters failed to stir the market and left the USDUGX currency pair little changed by the end of the day. Yesterday’s trading range will likely be preserved as market searches for […]
WASHINGTON, DC – The International Seabed Authority (ISA) sits perched above the concrete boardwalk of Jamaica’s Kingston Harbor, across the bay from the spot where “Calico Jack” Rackham was once gibbeted as a warning to other eighteenth-century pirates. Today, this small United Nations agency rules the high seas – or, more precisely, the seafloor some three miles […]
The shilling traded relatively flat versus the greenback in what was a dull Wednesday trading session. The home unit was little changed against the dollar in a session that saw both demand and supply equally matched. Dollar flows from corporates tipped the scale slightly in the afternoon and helped the USD/UGX currency pair gain 2 […]
The home unit seesawed between gains and losses in the previous trading session, ending the day unchanged versus its American counterpart. Early trading saw the shilling advance marginally against the dollar on the back of augmented inflows. As the session progressed foreign currency buyers retreated from the sidelines to take advantage of the low levels […]
A quiet session yesterday saw the shilling end the day little changed from previous close. Sideways trading was the dominant theme in the local currency market with activity from both demand and supply counters remaining well balanced through the day. In today’s trade, market chatter alludes to range bound trading as demand and supply forces […]
The shilling traded within confined ranges against the U.S. dollar on Friday, in a session characterized by minimal activity. Matching flows on both the demand and supply counters failed to stir the market, and left the USDUGX currency pair unchanged by the end of the day. Market chatter alludes to range bound trading, with the […]
NEW YORK – Facebook has just unveiled its latest bid for world domination: Libra, a cryptocurrency designed to function as private money anywhere on the planet. In preparing the venture, Facebook CEO Mark Zuckerberg has been in negotiations with central banks, regulators, and 27 partner companies, each of which will contribute at least $10 million. […]