Tag: International

Despite its improvements, Saudi Arabia’s economy still struggles—hindered by oil dependency, high youth unemployment, fiscal sustainability challenges and fluctuating oil revenues. However, itseconomic reform plans, particularly Vision 2030, have improved the quality of life for their citizens and residents by expanding opportunities for growth, fostering greater global integration and enhancing governmental efficiency.

Over the past few years, Saudi Arabia’s economy has struggled with a slowdown due to budget challenges and oil production cuts. In 2023, its economy contracted to 0.8% following extended oil production cuts among the OPEC+ member states, of which Saudi Arabia is a top member, which continues to weigh on GDP growth, Reuters reports.

Mexico’s economy continues to slump, as two back-to-back quarters of contraction bring the nation closer to a technical recession. With droughts stretching across the region and on-again, off-again tariffs from the United States, the nation is facing an uphill battle to revert course and avoid a recession.

The Canadian economy showed growth over the fourth quarter, with increased consumer spending, business investments and exports boosting the country’s gross domestic product (GDP) by 2.6% in the final months of 2024. While the growth is a good sign for the Canadian economy, Prime Minister Justin Trudeau’s imminent resignation and the looming threat of tariffs from the United States create uncertainty.

South Africa’s economic outlook has improved since last year and set to continue to do so in 2025. Despite easing core inflation, the economy faces rising debt, political instability and a weakening currency. Nevertheless, better fiscal policies and a focus on domestic growth are expected to sustain economic growth.

Europe comprises a host of nations, each with its own unique economies, shaped by the industries that dominate their respective markets and their distinctive political bodies. Collectively, Europe’s economy represents a large share of international trade, meaning weaknesses in one country have the potential to send ripples across the world. 

Taking on an international account can be intimidating, especially if you’ve never encountered global financial statements before. To best mitigate risk and build a strong relationship with your international customers, it is important to understand how and why their financial statements might look a bit different.

Credit professionals who work with international customers face a number of challenges—whether through a clash of cultural customs and norms or even ways of conducting business.

After a very brief ‘shutdown’ in the wee hours of Saturday, March 23, Congress finally got its work done to fund the government. Neither Democrats nor Republicans were particularly pleased with the outcome; the hallmark of a successful compromise. Unfortunately for Speaker Mike Johnson, who currently has a one-vote majority in the House and a small but vocal faction of his Caucus that has threatened to oust him, this isn’t something he can just brush over.