Hi, I’m Caroline, an associate editor at Horizon Engage. These are a few things we’re keeping an eye on.
1. Turkey and Egypt Start Repairing Relations
Turkish President Recep Tayyip Erdogan visited Cairo for the first time since 2012 after years of estrangement and tension. Erdogan met with Egyptian President Abdel Fattah el-Sisi to discuss regional stability, rebuilding Gaza and deepening cooperation in various sectors — including energy. Ankara and Cairo will now prioritize regional stability during a time of great upheaval, most notably from the humanitarian crisis in Gaza. Despite over a decade of resentment, this partnership boosts Turkey’s and Egypt’s power in the Middle East and may encourage other neighbors to align on key issues. Whether they move past discussion and into action is another story.
2. Tinubu Under Scrutiny as Food Shortages Squeeze Nigeria
On top of skyrocketing prices and a free-falling naira, food shortages led to protests in several Nigerian cities. Some called out President Bola Ahmed Tinubu for his bold economic reforms, which so far have yielded little results. It’s not just citizens sharing their anger: The Emir of Kano told the first lady during a scheduled visit to go home and tell her husband to get to work. The pressure mounted high enough to force Aso Villa to release emergency grain supplies and crack down on hoarding. It will not be enough to meet demand.
3. Milei Gets an Economic Win … Sort of
On 16 February, the Milei administration announced that it achieved a monthly budget surplus in January, Argentina’s first in 12 years. After Congress killed the mega-reform package that was central to his campaign, this is a refreshing victory for Milei. The win, however, comes at the cost of a severe recession and rampant inflation, which stood at 254% in January. If Milei wants to follow through with his (wildly) ambitious fiscal goals, it may have considerable impact on wages, employment and thus, his approval ratings. Read more in our Latest Analysis.
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