Shifts in commodity prices in response to the war in Ukraine will provide a sizeable boost to current account positions in Angola and (to a lesser extent) Nigeria this year. Elsewhere, however, higher energy import bills will more than offset any increase in the value of metals or agricultural exports. Most African currencies have come under pressure in recent weeks which, combined with tighter external financing conditions, will further fuel sovereign debt fears.
Commodities Drop-In (24 March, 11:00 EDT/15:00 GMT): Our Commodities team will be exploring how the war in Ukraine is shaking up commodity markets, from oil to wheat, while tackling some of the big market questions – not least whether we’re in for 1970s-style oil supply shocks. Register here.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services