Global Risk Management Archive

Canada’s economy is projected to lose momentum in the fourth quarter as the U.S.-Canada trade war and the Middle East energy crisis continue to raise costs. Canada’s gross domestic product (GDP) growth is expected to slow from 2.0% in the third quarter to 1.4% in the fourth, according to a Canadian Federation of Independent Business report. Nearly two in five (39%) businesses surveyed expect to raise prices by more than 3% over the next year. 

Venezuela faces worsening economic and political hardship after President Nicolás Maduro’s election, sparking global outcry over corruption and persistent economic problems. The United States has firmly halted any efforts to ease sanctions and is expected to intensify these measures unless President Maduro resigns.

Dollar dominance—the outsized role of the US dollar in the world economy—has been brought into focus recently as the robustness of the US economy, tighter monetary policy and heightened geopolitical risk have contributed to a higher greenback valuation. At the same time, economic fragmentation and the potential reorganization of global economic and financial activity into separate, nonoverlapping blocs could encourage some countries to use and hold other international and reserve currencies.

The outlook for Asia and the Pacific in 2024 has brightened: we now expect that the region’s economy will slow less than we previously projected as inflation pressures continue to dissipate.

Javier Milei, a self-described “anarcho-capitalist,” campaigned for the presidency on a platform that featured pledges to slash state spending, shrink the government, dismantle regulatory constraints on the private sector, and wage war against a corrupt political “caste” that had mismanaged Argentina into a seemingly endless series of economic crises.