Hard Numbers: Race to replace Boris, Mexico "pays" for wall, IMF-Pakistan bailout deal, pricey African crude

July 14, 2022

Rishi Sunak launches his campaign to be the next Tory leader and British PM in London.

REUTERS/Henry Nicholls

5: After two rounds of voting, five candidates are still in the race to succeed outgoing UK Prime Minister Boris Johnson. The early frontrunners are former Chancellor of the Exchequer Rishi Sunak, Trade Secretary Penny Mordaunt, and Foreign Secretary Liz Truss. The list will get whittled down to two before Conservative Party members have their say in early September.

1.5 billion: Now that Donald Trump is out of office, Mexico will finally (sort of) pay for America’s border wall. After meeting US President Joe Biden in person for the first time this week, Mexico's President Andrés Manuel López Obrador agreed to cough up $1.5 billion for a joint initiative to improve border security.

6 billion: The IMF has reached a preliminary agreement to revive a $6 billion bailout with Pakistan signed in 2019. The Pakistanis have seen the writing on the wall in nearby Sri Lanka and are determined to avoid default.

3: Crude oil from three African countries — Algeria, Equatorial Guinea, and Angola — are the world's most expensive varieties of black gold so far this year. Algeria's Sahara Blend is no. 1 because it's low in sulfur, light, sweet, and easy to refine.

South Korean president ousted, election looms

People celebrate after President Yoon Suk-yeol's impeachment was accepted, near the Constitutional Court in Seoul, South Korea, on April 4, 2025.

REUTERS/Kim Hong-ji

South Korea’s Constitutional Court on Friday voted 8-0 to oust impeached President Yoon Suk-yeol over his decision to declare martial law in December. Supporters of Yoon who gathered near the presidential residence in Seoul reportedly cried out in disappointment as the court’s unanimous decision was announced. Others cheered the ruling.

Budget clash puts South African government on brink of collapse

African National Congress (ANC) members of parliament react after South African lawmakers passed the budget's fiscal framework in Cape Town, South Africa, April 2, 2025.

REUTERS/Esa Alexander

The second largest party in South Africa’s coalition, the business-friendly Democratic Alliance, launched a legal challenge on Thursday to block a 0.5% VAT increase in the country’s new budget, raising concerns that the fragile government could collapse.

Hard Numbers: Race to replace Boris, Mexico "pays" for wall, IMF-Pakistan bailout deal, pricey African crude

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Stocks have plummeted, layoffs have begun, and confusion has metastasized about the bizarre method the United States used to calculate its tariff formula. But Donald Trump says it’s “going very well."

The second largest party in South Africa’s coalition, the business-friendly Democratic Alliance, launched a legal challenge on Thursday to block a 0.5% VAT increase in the country’s new budget, raising concerns that the fragile government could collapse.

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Subscribe to GZERO Media's newsletter: Signal

Remember the TikTok ban? The new deadline President Donald Trump set for the app to find an American buyer or be banned from US app stores, midnight Saturday, is rapidly approaching.

Overnight, the US moved to having the world’s highest tariffs by a long margin. Here is Ian Bremmer's Quick Take on the near and long-term fallout

Have you stayed atop GZERO’s news coverage this week? Here's your chance to prove it.

Someone needs to take National Security Advisor Michael Waltz’s phone out of his hand.

Donald Trump’s much-anticipated “liberation day” tariff announcement on Wednesday is the biggest disruption to global trade in decades, so the political, diplomatic, and economic impacts will take time to become clear.