Hi, I am Caroline Doyle, an associate editor at Horizon Engage. This week, we’re covering:
- Former Argentine President Cristina Kirchner could be staging a political comeback, first seeking to lead the opposition Peronist party.
- Nigerian Finance Minister Wale Edun announced new tax incentives for the energy sector in a bid to attract investment.
- After a long and dramatic standoff, the Central Bank of Libya (CBL) finally has a new governor.
This week’s quote comes from two different presidents — one of them fictional — who said the same thing at the UN General Assembly.
Cristina Seeks a Comeback
Last week, a Peronist senator posted on social media calling for former President Cristina Kirchner to lead the party. Other party members followed suit in a coordinated response. The Peronists (formally the Justicialist Party) are set to hold internal elections on 17 November, just a few months after current leader, former President Alberto Fernandez, stepped down after spousal abuse allegations.
Kirchner has recently increased her public and online appearances, criticizing the Milei administration. This week, she posted that she is “willing to take up the challenge” of leading the Peronist party. However, persistent corruption allegations and the failure of Fernandez’s presidency after she handpicked him for the ticket may complicate her desired comeback.
Nigerian Government Announces Long-Awaited Tax Relief
Early this month, Finance Minister Wale Edun announced new tax incentives for the energy sector, desperately hoping to revive investors’ interest. The announcement covered beneficial VAT changes and a vague notice of changes to deepwater incentives, both long overdue.
Foreign energy investors are not-so-subtly interested in Nigerian deepwater, so it is no surprise Edun’s announcement came after meetings with two IECs operating in the country. The announcement’s lack of specificity could be an attempt to buy time: deepwater incentives were coming “soon” way back in April. We will be watching to see how the government handles executing these changes.
Libya’s Central Bank Finally Gets a Leader
After a dramatic stalemate with former CBL Governor Sadiq al Kabir, the House of Representatives and High State Council agreed in late September to appoint Naji Issa as his successor, and custodian of Libya’s pursestrings. However, the bank is not out of the woods yet: Issa must appoint a board within two weeks of assuming office.
The intense horse-trading over board seats could jeopardize the agreement that saw Issa appointed. To prevent him from consolidating control like his predecessor did, the agreement stipulates that Issa cannot exercise the bank’s powers without a board. The selection process is likely to be yet another flashpoint between Libya’s rival western and eastern governments. We expect intense jockeying for power ahead.
Quote of the Week
At the UN General Assembly in New York last month, President Javier Milei said:
“We believe all people should live free from tyranny and oppression, whether in the form of political oppression, economic slavery or religious fanaticism. This fundamental idea must not be mere words. It has to be supported by deeds, diplomatically, economically and materially.”
In Season Four, Episode 15 of Aaron Sorkin’s “West Wing,” TV President Josiah Bartlett said:
“We are for freedom from tyranny everywhere, whether in the guise of political oppression or economic slavery or religious fanaticism. That most fundamental idea cannot be met with merely our support. It has to be met with our strength: diplomatically, economically, materially.”
I’ll let you be the judge.
Interested in receiving On Our Radar direct to your inbox? Subscribe below.
About Horizon Engage
Horizon Engage provides country-level analysis on political, social and environmental issues that impact the investment climate for foreign direct investors. We’re changing the game for our clients by merging tech and geopolitical expertise in a whole new way. Let us be your eyes and ears so you can make decisions with confidence. Learn what we do.