Policy options for Swaziland

So Swaziland is in a whole heap of economic and political trouble; South Africa’s loan isn’t going to change any of that in the long run. The way the global economy looks at the moment, there’s no particular reason to think that the SA economy is going to be anything better than stagnant over the […]

Swaziland vs Greece

Swaziland vs Greece? More like Swaziland and Greece: Linked to a currency they can’t control Potentially devastating consequences if they devalue their currency and move away from the peg Fiscal irresponsibility A small country relative to their economic neighbors Except Swaziland has a dictator in charge and gets a bail-out without serious conditions and at […]

Book Review: This Time is Different

It’s chock-full of analysis, numbers, tables and charts showing how as much as things change, the scope for financial crises changes very little. The comparison of Developed and Emerging Markets is particularly interesting in that the differences, while they do exist, are far smaller than stereotypical views. Emerging Markets do tend to have more ongoing sovereign defaults, but the frequency of banking crises is little different. Weirdly, some aspects of Emerging Market crises (such as employment impacts) are less than average for the Developed World.

The potential solution becomes part of the problem

Improved education is the key to long-term employability of our population and a reduction in structural unemployment. Some argue that the political strength of teachers’ unions is an obstacle to improving standards and skills and attendance by teachers. Now SADTU seems to be supporting calls for nationalisation. So those who should be part of the […]

Have all the World Cup expenses been counted?

Airports Company SA, “ACSA”  now has some of the highest fees  in the world. Apparently they need to fund the huge “investment expenditure” incurred  in upgrading on our airports recently for the World Cup. This begs the questions: What business plans were used in determining investment on our airports? How did actual experience compare to […]

In Bahrain for a few days

I’m in Bahrain for a few days kicking off an ERM implementation project. 35 degrees at 7am in Doha on the way there… Bahrain has a population of around 1.2 million but has a well developed insurance sector. Economies of scale limit domestic growth and regional expansion faces tough competition and increased complexity. Will be […]