Overseas Headlines – April 12, 2024

April 12, 2024


United States:

US Lawmakers Plan to Extend Africa Trade Pact AGOA Through 2041

US senators introduced a bill to extend the nation’s trade program with about 40 sub-Saharan African nations until 2041, helping them maintain duty-free access to the world’s biggest economy.

Jim Risch, a Republican from Idaho, and Delaware Democrat Chris Coons introduced the legislation to extend the African Growth and Opportunity Act, which was first enacted in 2000, on Thursday. The current iteration of AGOA is due to expire in 2025.




It’s Time for the ECB to Diverge From Fed, Stournaras Says

The European Central Bank shouldn’t be afraid to shift its “overly prudent” stance on interest rates away from that of the Federal Reserve, according to Governing Council member Yannis Stournaras.

Speaking in Frankfurt after the ECB gave the clearest signal yet that it will begin unwinding its unprecedented bout of rate hikes in June, the Greek official reiterated that four cuts are possible this year — despite investors scaling back wagers on such moves globally.




India Inflation Cools in March on Decline in Food Costs

India’s retail inflation eased in March due to a decline in food and fuel prices, though a coming heat wave threatens to damage crops and risks stoking prices.

The consumer price index rose 4.85% from a year earlier, showed Statistics Ministry data Friday. That’s in slower than the median forecast for a 4.90% gain in a Bloomberg survey of economists, and compares with 5.09% in February.




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