When I see editorials, news flow…

Date:12Oct2017

…like this and this, I think of these two charts below: a current account deficit heading toward $40 billion yet less than fully financed by capital inflows, and a short-term debt stock (by remaining days to maturity) hovering around $170 billion.

Call me a narrow-minded economist, but with that sort of external financing requirement, which incidentally adds up to over 25% of GDP, I then wish that we were less into escalation,  and more into de-escalation of the tensions with the West…