Africa Economics Weekly Default and debt relief, stale SA recovery plan Debt relief efforts took different turns for African governments this week. For many, the extension of a debt service suspension deal will come as good news. But a stand-off between Zambia, China and... 16th October 2020 · 5 mins read
Africa Economics Weekly Nigeria’s deficit financing options diminishing This week’s 2021 budget presentation by Nigeria’s President Buhari points to challenges in financing the government’s ambitious spending plans, raising the risk that the authorities turn to financial... 9th October 2020 · 4 mins read
Africa Economics Weekly Zambia’s debt roller coaster, budget rumours in Nigeria Zambia’s first steps towards debt restructuring have not got off to a good start, reinforcing our fears that the process will be long and arduous. Meanwhile, Nigeria’s rumoured budget proposals... 2nd October 2020 · 5 mins read
Africa Economics Weekly Shades of debt relief, rand battered in risk-off mood The latest debt developments in Angola and Zambia show that, while there has been progress towards debt restructuring in the region, it will be an arduous path for most. Meanwhile, the South African... 25th September 2020 · 6 mins read
Africa Economics Weekly Angola’s expanded IMF deal, SA lockdown easing The formal expansion of Angola’s IMF programme this week will go some way towards easing the country’s balance of payments pressures, but further debt restructuring (including private creditors) is... 18th September 2020 · 6 mins read
Africa Economics Weekly South African economy stumbles, oil price falls Q2 GDP figures released in South Africa this week weren’t quite as ugly as we had feared, which has prompted us to revise up our full year growth forecast (to -8.5% from -11.0%). Even so, the country... 11th September 2020 · 5 mins read
Africa Economics Weekly US aid to Ethiopia on ice, debt relief state of play The US’s move to suspend some aid to Ethiopia amid tensions over the Grand Ethiopian Renaissance Dam risks further actions that would limit Ethiopia’s fiscal space. Meanwhile, momentum to expand a... 4th September 2020 · 7 mins read
Africa Economics Weekly Flurry of FX action in Nigeria, looming strikes in SA The Central Bank of Nigeria this week took further steps to tighten its oversight over foreign currency transactions and, even if the country’s multiple exchange windows are set to a unified rate, we... 28th August 2020 · 6 mins read
Africa Economics Weekly Nigeria’s limited fiscal space bites, SA banks in spotlight Nigerian government spending proposals for 2021, floated this week, signal just how much of a bind the authorities are in. Letting the naira weaken would be one way to address the large budget deficit... 21st August 2020 · 7 mins read
Africa Economics Weekly Covid cases fall in SA, security risks to Mozambican gas 14th August 2020 · 5 mins read
Africa Economics Weekly Investments under threat in Nigeria and South Africa Foreign investments into the biggest economies in Sub-Saharan Africa took a blow this week. We think that the announcement of a major food retailer’s exit from Nigeria may be representative of the... 7th August 2020 · 5 mins read
Africa Economics Weekly Fund times: Angola, South Africa and the IMF The Angolan authorities are seeking to expand the country’s IMF programme, which would help to ease balance of payments strains. But it’s far from a done deal as the Fund may require a restructuring... 31st July 2020 · 5 mins read
Africa Economics Weekly IMF increasing funding limits, SA’s economic recovery The IMF’s decision to expand access limits could open the way for African economies to receive more multilateral support, but the Fund clearly wants countries to move to programmes with conditionality... 24th July 2020 · 5 mins read
Africa Economics Weekly Ethiopia’s dam, South Africa’s fiscal conundrum Tensions over the Grand Ethiopian Renaissance Dam have ratcheted up over the past week, raising the risk of conflict with Egypt, which would do severe damage to both the country’s near- and long-term... 17th July 2020 · 7 mins read
Africa Economics Weekly Naira devaluation, uncertainty in CIV, industrialisation Nigeria appears to have devalued the official naira exchange rate this week but the move has, if anything, further dented hopes for a shift towards a market-driven and unified exchange rate regime... 10th July 2020 · 6 mins read
Africa Economics Weekly SA trade data, oil producers in the line of fire South Africa’s external sector probably shifted from being an economic tailwind to a headwind in the second quarter. Meanwhile, Africa’s oil producers are facing mounting pressure from OPEC to comply... 3rd July 2020 · 5 mins read
