News

Pakistan’s rupee may be in its death throes. What was once a strong currency has been falling against the U.S. dollar for years and is performing poorly among a large group of peer nations, a drop intensified by the recent rise of the U.S. dollar and internal political strife (Jerusalem Post, July 25, 2022).

Britain has long had a strong global presence through its embassies and consulates. These diplomatic offices scattered all over the world have enabled the UK to influence and even direct the affairs of many nations.

The International Monetary Fund (IMF) warns that the world is at increased risk of a recession in the coming year (The Guardian, July 13, 2022). Inflation rates in nations around the globe are increasing, and world governments are increasing interest rates in response. The crisis in Ukraine as well as China’s repeated COVID-19 lockdowns have greatly impacted global commerce.

British Prime Minister Boris Johnson recently resigned as the Conservative Party head and informed Parliament he would step down as prime minister once a new party head takes over. In his nearly three-year term, Mr. Johnson is credited by many with moving Brexit along through the British Parliament and leading the Conservative Party to a landslide election in 2019. His resignation follows a host of resignations from governmental ministers in his own party—ministers who resigned not over political issues, but issues of character and trust.