The Concerns of The Central Bank of Nigeria

 

The Central Bank of Nigeria is facing a series of challenges. The new tax reforms going into effect next year have generated controversy. Nigerians could find that their bank accounts are going to be subject to more taxation. The wave of tariffs continues to disrupt the economies of various countries. The CBN in April had to sell a total of $200 million to protect the naira. During that month, crude oil prices dropped, which made for a more precarious crisis. Nigeria is reliant on crude oil for foreign exchange. The CBN has not formulated a policy to address tariffs, debts to the IMF, or the decline in oil prices. CBN this year also sold $197.71 million   to banks to secure Nigeria's position in the foreign exchange market. To certain economists, this appears to be a massive transfer of wealth out of  Nigeria. The oil wealth and the CBN's banking system have not translated into financial security for the population. Concerns about liquidity and regulations are growing. The recommendations made were to use commercial papers to manage possible risk. The commercial paper is a temporary debt tool designed to manage future payments. The CBN began using cash stuffing to manage the situation. While budgeting physical cash was the responsible course of action, the result was increased costs on deposits for consumers. The debt to World Bank is estimated to be $18.2 billion. The CBN's biggest concern is the growing debt from international banking institutions.     

Israel's Attack on Qatar and Expansion of Aggressive War

 

Israel's strike against Hamas leaders residing in Qatar was a turning point. Gulf monarchies are no longer safe from Israel's military aggression. The Gulf monarchies decided to align with the West and the result was a lapse in security. Now, there is a possibility that Jordan and Egypt will break treaties with Israel, because the public's ire continues to grow. Failure to respond forcefully, could induce mass uprising in Qatar, the UAE, Saudi Arabia, Bahrain, and Kuwait. Israel continues to starve and bomb Gaza, but the resistance continues. The Gulf monarchies do not have the military strength to confront Israel, but there are certain options. The shutting down of US bases, an alliance with Iran, and supporting various armed groups could do much to halt Israeli expansion. Emir Tamim bin Hamad Al Thani expressed his desire to see an independent Palestinian state. Qatar has been known to arm a number of Islamist groups. These armed groups were active in Syria and Libya. Qatar could direct armed groups against Israel if more strikes continue. Violations of national sovereignty and blatant anti-Arab racism are not going to be tolerated. The following months could see immense blowback either from the Gulf monarchies or other non-state actors. Ministers are gathering to discuss punishments that Israel should face. The Doha attack signals the death of the Abraham Accords. The more violent Israel becomes, the more unity is created among Arab states. Diplomatic isolation in West Asia could have major economic consequences. Qatar, the UAE, Saudi Arabia, or Kuwait are not dependent on Israel for trade. The attack on Qatar somewhat parallels the attack on Tunisia in 1985. The PLO's base in the country was attacked and the sovereignty of a country was violated.     

The Nepal Protests and Violence

 

The Nepalese public became even more vexed with the ineffectiveness of their government. The youth became active in demonstrations, which resulted in attacks on government buildings. Gen Z was represented the most in the protests. Images are now being seen of the parliament building being set into flames. Prior to this, there was an attempt to ban social media. The reason was to stop organizing and undermine free press. The protests forced Prime Minister KP Sharma Oli into resignation. His own safety is at risk, with protesters attacking his residence. Economics was a factor  in the violence. Large amounts of unemployed youth are struggling. The upper class of Nepal is able to maintain a higher standard of living. Simultaneously, Nepal is dependent on finances from citizens living abroad. Personal remittances are transfers of funds that are non-commercial. Individuals do send money to their families, yet this should not be the basis the the gross national product. Decades of this practice left Nepal in an unstable economic condition.  No party obtained a majority, so forming a new government would be difficult. Nepal could descend into a coup or a possible civil war. If the military takes over, violence will escalate. Law enforcement has already engaged in violence against protesters. A change in government at some stage will attract the attention of India and Pakistan. More instability might cause certain citizens to propose reestablishing the monarchy. The question remains is if the protesters and the government can reach a consensus.  

President Umaro Sissoco Embalo Seeks Another Term

 

Political factionalism continues to be a part of the government of Guinea-Bissau. President Umaro Sissoco Embalo wants to seek a second term. At first, President Embalo expressed that there was no intent to extend his presidency. Guinea-Bissau has struggled with coup attempts and instability since independence. The current controversy facing the politics of the country is the debate over term limits. The opposition claims that the president's term expired. The Supreme Court holds the position the presidential term expires in September. The political opposition does not dictate presidential term limits. The Constitution of Guinea-Bissau lists the powers and rules of the presidency. The political opposition most likely wants to remove him by extra legal means. A coup was allegedly thwarted in 2022. The start of the Embaldo administration was met with conflicts with the parliament. The dissolving of the parliament in 2022, resulted in rescheduling elections. Guinea-Bissau has not experienced a coup since 2012. The military establishment retains an abnormal influence on government. President Umaro Sissoco Embalo navigates between a contentious parliament and a ubiquitous military. Tensions are rising about what happens with the next elections. Guinea-Bissau has gone 13 years without a coup and it was during the Embalo presidency ECOWAS troops left.  

Corus Entertainment Shuts Down Nelvana

 

Nelvana one of Canada's prominent animation studios had ended production. Established in 1971, the studio produced a number of animated series and films. Corus Entertainment amassed immense debt. This was Nelvana's parent company since the year 2000. Between that year of purchase to 2025, $1,000,000,000 of debt was created. No explanation was given for how that debt emerged. The speculation is that funds were wasted, went to executives, or used for failed projects. What happened to Nelvana is a warning to other animation studios. The actions of the parent company tend to harm the subsidiaries. Nelvana was not producing low quality work, but mismanagement . Corus Entertainment might not exist in a few decades if debt can not get under control. The entertainment industry is still adjusting to streaming and the changing consumption habits of viewers. Corus Entertainment did not mention layoffs when speaking with the press. Those who work in animation or seeking to begin a career are struggling. What becomes more questionable is the amount of bonuses executives were paid. A serious discussion about executive bonuses never takes place. Never do they offer to take a cut in bonuses to prevent the company failing or to contribute to debt payments. Nelvana would have survived if it was not owned by another company. Corus Entertainment's solution to the debt concerns is to manage existing properties. Corus Entertainment  insists the Nelvana brand will remain, but production of new content has ended. Canadian animators are going to have to find work at another animation studio or go abroad. 

Thailand's Growing Political Instability

 

Paetongtran Shinawatra has been removed from office. The charge was an ethics violation, however upon further analysis there was a political motivation. A phone call with former Cambodian Prime Minister Hun Sen was deemed an ethics violation. Prime Minister Paetongtarn's crime was she criticized the Thai military. The phone call was and discussion was not a serious criminal offense. No evidence exists of acts of treason or conspiracy. The dialogue between two figures was an act of diplomacy and conflict resolution. The removal of another Thai head of state could result in another coup. Thailand's 2006 and 2014 coups demonstrate that the military has more power than a civilian government. The Shinawatras can never govern effectively  due to the interference of the Thai military and the weaponization of the Constitutional Court. Whoever becomes the next prime minister will confront political factionalism, the military, and the attacks from the Constitutional Court. The elites, military, and the monarchy itself do not support a liberal democratic system. Various political parties are fighting to get majorities in the parliament. When neither can obtain dominance, fragile coalition governments are formed. The political impasses are used as a justification for the military to depose the government.  The Pheu Thai Party's strategy is to seek a means of dissolving parliament. Taking this action would be a means of preventing a military coup or deadlock with other political parties.  Thailand has the risk of becoming more like Myanmar and a wider conflict with Cambodia breaking out. The Thai public might want some authoritarianism as an alternative to ineffective government. Snap elections could be coming in the following months, yet this will not resolve domestic and regional challenges.  

The Global Unemployment Rate And Accuracy of Data

 

The condition of the economy is determined by the amount of employment. Using the global unemployment rate as a measure provides incite. Over the past 34 years, there have been fluctuations in unemployment. A number of circumstances cause this. The fall of the Soviet union caused unemployment in Eastern Europe. The global financial crisis in 2008 harmed the labor market and COVID-19 change the nature of employment. The data from over the decades is not precise. While it can be argued it was accurate, the total number of unemployed was higher. The period between 1991 to 2016 does not reflect all people without work. Much of the data used comes from either the World Bank or International Monetary Fund. These institutions have been criticized related to their conduct in regards to Global South nations. Errors can occur in data collection and the way unemployment is measured is subject to change. People who given up seeking work or not trying are excluded from the data. This  distorts the statistics of global unemployment. The number is much larger and growing. A trend can be seen with certain events. The next wave of global unemployment will come from automation and artificial intelligence. The effects of the 2020 COVID-19 pandemic caused another mass global unemployment event. The world has not recovered in terms of business security and income. The working class suffers the most, but the middle class will be the next victim. Many skilled jobs are going to be replaced. The middle class could cease to exist with the full integration of automation and artificial intelligence. Data collection must be as precise as possible to help formulate solutions to increases in global unemployment. Otherwise, economic reports from various institutions will not be useful.