Africa Economic Outlook Solid growth amid global weakness Sub-Saharan Africa (SSA) is not completely immune to the continuing crisis in the euro-zone and the effects of weakening growth elsewhere in the developed world, but strong domestic demand and scope... 17th October 2012 · 1 min read
Emerging Markets Economics Update Will higher food prices drive up EM inflation? Headline inflation is set to pick up across most of the emerging world over the next six months, in the wake of global food price increases earlier this year. However, the impact should be short-lived... 17th October 2012 · 1 min read
Middle East & North Africa Economics Update A fall in commodity prices will bring some relief to Morocco Morocco’s current account deficit has been pushed up to a 27-year high by a combination of weaker export demand from the euro-zone and the higher cost of commodity imports. Nonetheless, an IMF funding... 16th October 2012 · 1 min read
Middle East & North Africa Economics Update A fall in commodity prices will bring some relief to Morocco Morocco’s current account deficit has been pushed up to a 27-year high by a combination of weaker export demand from the euro-zone and the higher cost of commodity imports. Nonetheless, an IMF funding... 16th October 2012 · 1 min read
Africa Economics Update African eurobonds: who is next in line? Sub-Saharan African (SSA) eurobond markets hit the headlines in September when Zambia’s debut $750mn 10yr bond issue, which was 15 times oversubscribed, became the most successful ever in the region... 12th October 2012 · 1 min read
Emerging Markets Trade Monitor Emerging market exporters face more tough times ahead Emerging market exports have been hit by a broad slowdown in global demand this year, with the last few months proving especially weak. Given the bleak outlook for the global economy, a meaningful... 11th October 2012 · 1 min read
Africa Economics Update Nigeria likely to miss fiscal target for 2013 The 2013 budget proposal unveiled by President Goodluck Jonathan today is predicated on reasonableassumptions of economic growth and contains sensible measures to rebalance spending away fromsubsidies... 10th October 2012 · 1 min read
Emerging Markets Economics Update Are emerging markets losing their competitive edge? Among the major emerging market (EM) regions, we estimate that Latin America has experienced the greatest loss of competitiveness over the past few years. In the medium term, weaker productivity... 10th October 2012 · 1 min read
Middle East & North Africa Economics Update IMF deal needed to stop the rot in Egypt Today’s data from the Central Bank of Egypt (CBE) showing that foreign currency reserves fell in September highlight the importance of an IMF backstop when talks take place at the end of this month. 8th October 2012 · 1 min read
Africa Economics Update South African rand still has further to fall The South African rand has sold-off sharply in the past few days, but we think a combination of domestic political unrest, a challenging external environment, and a widening current account deficit... 8th October 2012 · 1 min read
Emerging Markets Economics Update How much scope do emerging markets have to loosen policy? Despite recent policy easing by the US Fed and the ECB, we expect global growth will continue to disappoint over the next couple of years. Against this gloomy background, prospects for emerging... 5th October 2012 · 1 min read
Africa Economics Update What is economic cost of South Africa’s mining unrest? It is still too early to calculate the full economic impact of labour unrest in South Africa, but our initial estimates suggest that it could knock around 1.5%-pts off GDP in the second half of 2012. 4th October 2012 · 1 min read
Emerging Markets Economics Update QE3: big risk or damp squib? There is growing concern among emerging market (EM) policymakers that a third dose of QE from the Fed will stoke hot money inflows to the developing world, and open up a new front in the so-called... 4th October 2012 · 1 min read
Emerging Markets Economics Update Emerging Market manufacturers still struggling The Bank of Uganda lowered its benchmark interest rate by 200bps to 13.00% today and, while theeasing cycle still has further to run, we think the pace of rate cuts may slow in the months ahead. 2nd October 2012 · 1 min read
Africa Economics Update Pace of monetary easing to slow in Uganda The Bank of Uganda lowered its benchmark interest rate by 200bps to 13.00% today and, while the easing cycle still has further to run, we think the pace of rate cuts may slow in the months ahead. 2nd October 2012 · 1 min read
Africa Economics Update South African manufacturing continues to struggle On the face of it, South Africa’s manufacturing PMI for September appears consistent with a contraction in GDP in Q3. And while we would be hesitant to read too much into one month’s figures, the... 1st October 2012 · 1 min read
