Global developments on September 4, 2024

Good morning everyone!

Today we look at the US presidential campaign, Mexico’s justice reform proposal and other news from every continent.

Let’s get started.

Africa

-Nigeria and China on Tuesday signed an economic and nuclear energy pact after the country’s two leaders met in Beijing.

Nigerian President Bola Tinubu said the agreement would strengthen “development, stability and security in the West African sub-region”.

Beijing is Nigeria’s biggest bilateral lender and has sought closer ties with African capitals in its bid to gain global influence. This week, Tinubu and other African leaders will attend the ninth summit of the Forum on China-Africa Cooperation.

-The economy of South Africa expanded by 0.4% in the second quarter. Growth was fueled by consumer spending and electricity availability, despite declines in the country’s agriculture, mining and transportation sectors.

-Today the African Urban Forum is taking place in Addis Ababa, Ethiopia.

Other links:

African countries lose 5% of their GDP due to climate change – Report – Africa News

Ugandan opposition leader Bobi Wine shot and injured in confrontation with police -AP

Suspected Boko Haram militants kill at least 37 in attack in Nigeria -Reuters

Ethiopian Airlines says it will halt Eritrean flights after account freeze -Reuters

Attempted prison break in Congo kills 129 as chaos erupts with stampede and gunfire -AP

Nigeria has the largest economy and population on the African continent.

America and the Caribbean

– Mexico’s Supreme Court voted Tuesday to join a work stoppage as Congress begins debating a controversial judicial overhaul. In an 8-3 vote, the court will join thousands of judicial workers on strike.

The proposal, backed by outgoing President Andrés Manuel López Obrador and his ruling Morena party, would reduce the number of justices at the Supreme Court, shorten their terms from 15 to 12 years and call for elections for the country’s more than 7,000 judges and magistrates.

Supporters of the reform package say it would end the atmosphere of impunity for criminal gangs, while critics say this challenge is being driven by prosecutors and law enforcement agencies.

Morena and his partners hold a two-thirds supermajority in the lower house of Congress and are just one seat shy of winning the same in the Senate after elections in June. President-elect Claudia Sheinbaum supports the reforms and is expected to take office next month.

-Venezuelan Attorney General Tarek Saab on Monday an arrest warrant has been issued for opposition candidate Edmundo González, who said he had committed a series of crimes following the disputed July 28 presidential election.

Independent election figures show that President Nicolás Maduro was soundly defeated by González. Despite the results, Maduro declared victory and cracked down on protesters who took to the streets to oppose his 11-year rule.

The United States, Argentina, Brazil, Peru and other countries in the region condemned the move because attempts to mediate the political crisis stalled.

– The Bank of Canada will announce changes to its benchmark interest rate today. Analysts expect the bank’s policymakers to opt for a rate cut, following cuts in June and July.