Between Debt Swaps and IMF Reform: The Political Economy of External Dependence in Egypt

Egypt’s reliance on IMF support, Gulf investments, and debt swaps has prevented immediate collapse but deepened structural dependence. While these mechanisms provide short-term liquidity and ease foreign currency pressures, they fail to resolve entrenched imbalances and military dominance. The Ras El-Hekma deal epitomizes this trade-off between stabilization and sovereignty.

A Tale of Two Countries: Dollarization in Panama and Ecuador 

Panama and Ecuador are two of the three fully dollarized economies in Latin America and have witnessed benefits of this controversial measure. But does dollarization have a place in a shifting geoeconomic order?

Fernet with Vodka

The Argentinians adopted, due to the Italian immigration of the early XX century, a sour herbal wine called “Fernet Branca” – usually mixed with the popular drink “Coca Cola.” The sour taste of Fernet makes it tough to combine it with vodka. However, in harsh times beggars can’t be choosers.