Africa

Authored by Erico Matias Tavares via Sinclair & Co.,

If you're a Cuban focused on visiting the United States for tourism of business purposes, it's probably going to be a case of "close but no cigar". As Statista's Nial McCarthy notes, even though relations between Washington and Havanna have improved hugely over the past few months, Cuba still has the highest rate of U.S. visa refusal of any country worldwide. According to U.S. State Department data, 81.9 percent of all Cuban applications for B Visas (tourism or business) were turned down in fiscal year 2016.

The rand tumbled as much as 1.7% and banking shares on the Johannesburg bourse fell more than 2% after South African President Jacob Zuma unexpectedly ordered Finance Minister Pravin Gordhan to return from an investor roadshow to Britain and the United States on Monday because he "did not give permission for the trip" a government source said.

"They were told last night or this morning to come back... the presidency did not give permission for the trip," the government source said.

In several major economies it's crunch time for the future of cash. Goldman Sachs notes that this is largely policy-driven: tangible steps are being taken to wean economies off cash (e.g. India, Europe); but adds that, at the same time consumer expectations around convenience are rising and enabling technologies have proliferated in the shape of contactless cards, mobile wallets, cryptocurrencies and more.

So, they ask, does the decline in cash payments imply the demise of cash?

Not necessarily.

Authored by Jayant Bhandari via Acting-Man.com,

India’s Rapid Degradation

This is Part XI of a series of articles (the most recent of which is linked here) in which I have provided regular updates on what started as the demonetization of 86% of India’s currency. The story of demonetization and the ensuing developments were merely a vehicle for me to explore Indian institutions, culture and society.

The Modimobile is making the rounds amid a flower shower. [PT]