Tag: WIR

A general election held in July 2023 resulted in a significant seat gain for the main opposition PP and fewer losses than expected for the member parties of the incumbent minority government headed by Prime Minister Pedro Sánchez. However, neither the center-right PP nor Sánchez’s center-left PSOE won enough seats to claim a majority and a lack of parliamentary allies doomed PP leader Alberto Feijóo’s efforts to secure confirmation of a minority government to failure.

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.

Germany’s GDP growth expectations for 2024 are expected to grow only 0.1%, down from a previous estimate of 1.3% as the country is stuck in “tricky waters,” according to German Economy Minister Robert Habeck.

Expanding your business internationally can enhance reach, access new markets and boost profits. However, it also presents challenges like language barriers and unfamiliar legal systems. Despite these risks, the benefits make international business expansion appealing for growth-seeking organizations.

After a tumultuous election period, the Pakistani government now must deal with fallout from the country’s mount of foreign debt. The State Bank of Pakistan estimated its debt to be $124.5 billion and 42% of GDP. Though this is not extremely high based on international standards, Pakistan’s annual foreign exchange earnings through exports show that they are not enough to pay for imports.

An international credit professional’s main duty is to foster customer relationships by understanding their customs, culture, and business style.

Tight macroeconomic policies in Colombia within the last two years are likely the cause of a reduction in domestic and external imbalances seen mainly in 2021-22. The Colombian economy is expected to grow 1.8% as inflation slows 5% this year, and the central bank plans to cut its interest rate to nearly 8%, according to Finance Minister Ricardo Bonilla.

While the U.S. economy seems to have avoided a recession, the forecast for 2024 remains mixed. It is no secret that inflation, labor shortages and geopolitical tensions all contribute to current economic conditions. Despite these factors, real GDP growth is expected to bounce between expansion and contraction for much of this year—showing the U.S. has reached a soft landing.

The Indian economy’s recent stellar performance is undeniable. It was the quickest expanding major economy in 2022 and 2023—and is projected to maintain this lead in 2024.