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☆ Analysis-West Africa's 'Brexit' Moment Spells Trouble for the Region
▼ + stars: | 2024-01-30 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +6 min

Ivory Coast alone is home to more than 5 million people from Burkina Faso, Mali and Niger. Earlier this month, Russia and Niger, ruled by a junta since a coup last year, agreed to develop military ties. Russian military personnel flew into Burkina Faso's capital Ouagadougou last week to ensure the safety of the country's military leader. EMPTY THREATECOWAS has responded to a wave of coups in the region since 2020 with sanctions that the juntas have called "illegal and inhumane." "The departure from ECOWAS will have catastrophic consequences for the ability to respond to the many security challenges facing this region," said Abba.

Persons: Bate Felix, David Lewis, Giulia Paravicini, Seidik Abba, Russia's Wagner, Mucahid Durmaz, Verisk Maplecroft, Charlie Robertson, Kwesi Aning, Gilles Yabi, Adama Coulibaly, Nagnouma Keita, Abba, Tiemoko Diallo, Boureima, Silvia Aloisi, Andrew Cawthorne Organizations: Giulia Paravicini DAKAR, West, West African States, Reuters, Islamic, FIM Partners, European Union, ECOWAS, CFA Locations: Mali, Burkina Faso, Niger, Russia, Ivory Coast, Niger . Niger, Nigeria, Paris, Ghana, Togo, Benin, France, United States, Burkina Faso's, Ouagadougou, West Africa, United, London, Bamako, Guinea, China

☆ Domingo Germán Proves Perfection Can Come at Any Time
▼ + stars: | 2023-06-29 | by ( Tyler Kepner | ) www.nytimes.com time to read: +1 min

The threadbare A’s are baseball’s worst team, already 40 games under .500, consumed by their vision of a new home in Las Vegas. Yet they have endured many dreadful seasons, and this was the first perfect game against the franchise since 1904, when Boston’s Cy Young did it to the Philadelphia Athletics. When Larsen did it, the feat had not been accomplished since 1922, by a nondescript Chicago White Sox rookie named Charlie Robertson. Yu Darvish, Yusmeiro Petit and Max Scherzer each lost a bid when the 27th batter reached base. The Yankees’ Carlos Rodón — as a member of the White Sox in 2021 — lost his attempt when a slider nicked the top of a batter’s shoe in the ninth inning.

Persons: Boston’s Cy Young, Connie Mack —, —, Larsen, Charlie Robertson, Germán’s, Hernández, Yu Darvish, Yusmeiro Petit, Max Scherzer, Carlos Rodón —, ” Rodón Organizations: Philadelphia Athletics, Chicago White Sox, Yankees, White Sox Locations: Las Vegas

Kenyan shipments of tea - its major export - have fallen by a fifth over the last year, according to the local regulator. The spike in global interest rates has already tipped Sri Lanka and Ghana into defaulting. Reuters GraphicsBLACK MARKETAlthough the dollar's share as a global reserve currency has dropped to 59% from 70% over a decade, it continues to dominate global trade. Nigeria has long had a web of multiple exchange rates which it is now trying to untangle, having also devalued its naira currency again last week. A plunge of around 70% in Bolivia's reserves has spawned queues at banks and currency exchange shops as some merchants stopped accepting local currency.

Persons: Wilson Muthaura, KTDA, Charlie Robertson, Muthaura, David Willacy, Ojo, Chaucer, Ronal, Luiz Inacio Lula da Silva, Kristalina Georgieva, William Ruto, Duncan Miriri, Marc Jones, Macdonald Dzirutwe, Monica Machicao, Mayela Armas, David Sherwood, Catherine Evans Organizations: Bank, FIM Partners, Reuters Graphics, Workers, REUTERS, La Paz, West, Reuters, JPMorgan, Monetary Fund, IMF, Fund, Thomson Locations: NAIROBI, LONDON, Pakistan, COVID, Russia, Ukraine, London, Islamabad, Egypt, Sri Lanka, Ghana, Tunisia, teetering, Nigeria, Kenya, StoneX, Nigeria's, Lagos, British, Cuba, Venezuela, Githunguri, Kiambu County, United States, Lebanon, Turkey, Ethiopia, China, India, Johannesburg, Saudi Arabia, Africa, Argentina, Nairobi, La Paz, Caracas, Havana

ABUJA, June 14 (Reuters) - Nigeria's central bank allowed the naira currency to drop as much as 36% on the official market on Wednesday, days after the central bank governor who oversaw much-criticised multiple exchange rates was suspended. The naira hit a record low of 750 to the dollar on the official market, Refinitiv Eikon data showed, down from a previous low of 477 naira to the dollar struck on Tuesday. Traders said the central bank had removed trading restrictions on the official market. Central bank governor Godwin Emefiele was suspended late last week, after new President Bola Tinubu criticised Emefiele's handling of the currency and monetary policy at his inauguration. Tinubu has called on the central bank to work towards a unified exchange rate, rather than the multiple exchange rates Emefiele oversaw to keep the naira artificially strong.

Persons: Godwin Emefiele, Bola Tinubu, Tinubu, Emefiele, Charlie Robertson, MacDonald Dzirutwe, Rachel Savage, Karin Strohecker, Alexander Winning, Chizu Organizations: Traders, FIM Partners, Thomson Locations: ABUJA, Central, Lagos, Johannesburg, London

"The Egyptian pound will likely remain under pressure until more U.S. dollar inflows from GCC (Gulf nations) and committed foreign direct investment materialises," said Carla Slim at Standard Chartered Bank. Last month's IMF deal has provided some respite. ,"Egypt has got a high debt load and arguably it is more vulnerable even than Pakistan in terms of debt payments as a share of revenues," said Renaissance Capital's chief economist Charlie Robertson. "But the difference is, it has been proactive and been quick to go to the IMF," Robertson added, noting Egypt also has strong support from rich Gulf countries. Egypt's IMF negotiations dragged on for seven months and drove its second big devaluation of the year.

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