Workers from around the world came to Argentina for jobs that would let them send meaningful remittances to family members in their home countries. But Argentina’s peso is rapidly depreciating, and inflation is rising, and now many of these migrant workers are wondering what to do about the plunging values of their remittances and their bank accounts.
Zambia’s government and its banks insist the country’s new taxpayer identification numbers aren’t used to collect additional taxes. But the public’s suspicions about this ID requirement have driven many locals to favor digital transactions, now a booming business.
Zambian banks demand substantial collateral and charge high interest rates for loans, so local women are increasingly turning to informal lending cooperatives, called village banking, for loans large and small. The groups operate on trust, but the high volume of money outside the formal banking sector comes with risks.
High rents and high taxes present major barriers to operating a store in Kampala, especially in the city center, so more and more enterprises are making their businesses mobile. Even as the practice booms, there’s still one lingering problem: It’s illegal.
The terrain around Hutwe, a village in DRC’s North Kivu province, has long been rich and fertile, but armed violence there in the 1990s and 2000s isolated the area. Now, the violence has abated, and a cooperative is helping farmers process and sell their high-quality coffee.
A new pricing system is the latest indication that Zimbabwe’s economic crisis is fundamentally changing how the country does business. Some vendors and consumers are praising the system – so why are the authorities discouraging it?
A government policy enacted without notice on Oct. 1 eliminated U.S. dollars from bank accounts throughout the country and replaced that money with a new monetary unit that some central bank officials say should be called a “local dollar.” Accessing those dollars had grown increasingly difficult, but seeing them disappear was a crushing blow for people who had saved them.
Facing an acute housing shortage and the plummeting value of the Argentine peso, Argentina’s housing authority is touting a construction solution that would be both cheap and fast. But for the country’s construction industry, this solution may turn out to be a problem.
New regulations that restrict trade between the sections of Kashmir controlled by Pakistan and India have created problems for businesspeople who trade fruit and other goods grown on either side. Trade numbers have dramatically lowered at the post, which the traders say hinders connections between family members separated by the border.