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11.04.2016.

THIS WEEK’S MUST READ NEWS FROM CAPX | NEW DIRECTION

The writing is on the wall for Brazil’s Dilma Rousseff

With Brazil's sharp change in its economic fortunes, blantant corruption, mismanagement of growth dividends and protectionism President Dilma Rousseff's hold on her office looks increasingly untenable. 

Misplaced Arab nostalgia has produced a generation of Jihadists

Islam is experienced more as a civilisation than a religion - and referring to a general Islam is meaningless. Bomb-planting jihadists are as much Arabs as they are Muslims, and their nostalgic references are drawn from a largely imaginary Golden Age in the past. Eradication of terror will not come through demonising Islam but through identifying the objective, barely theological sources of this neo-jihadism.

South Africa’s highest court fights for democracy by rebuking Jacob Zuma

Any doubt over South Africa's Chief Justice, Mogoeng T. Mogoeng’s impartiality were dispelled last Thursday. In one eloquent judgement, he eviscerated President Zuma for corruption and breach of his constitutional responsibilities. In doing so, Mogoeng has preserved, for now, South Africa’s beleaguered democracy. Zuma now faces impeachment. We wait to see if the ANC-dominated Parliament rally round him or opt for self-preservation.

Nigeria’s Sovereign Wealth Fund yields N26.3bn income in 2015

Nigeria Sovereign Investment Authority who manage Nigeria’s Sovereign Wealth Funds, have generated N26.3 billion income in 2015, a 67% increase over the N15.77 billion in 2014. The increase has been attributed to investment in high-growth private equity funds across Sub-Saharan Africa.This year's fund will be invested using the existing ratio of 40% in infrastructure, 40% in the Future Generations Fund and 20% in the Stabilisation Fund. 

Pakistan’s economy is stuck in first gear

Accounts of Pakistan's economy have put economic managers in a state of deceptive comfort. The reform discussion is something IMF is either deliberately missing or glossing over. Pakistan’s economic governance is split across 10 ministries and to unlock real economic potential they must all agree on reform. They must now bring down revenue deficit to zero, divert commercial credit to the private sector and continue to roll back the state.

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