Economy | - Part 81

World Bank Commends DRC’s Efforts to Stabilize Macroeconomic Environment

Kinshasa, DRC (Capital Markets in Africa):– World Bank Group Managing Director Dr. Sri Mulyani Indrawati on Tuesday concluded her visit to the Democratic Republic of Congo (DRC), where she met with President Joseph Kabila Kabange, Prime Minister Matata Ponyo and key members of the Congolese Government to discuss long-term development prospects for the region, and to review progress made as part of the Great Lakes Regional Initiative. During meetings held May 10-12, Dr. Indrawati commended…

Moody’s: Currency shifts to widen gap between global economies in 2015-16

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London (Capital Markets in Africa):- Robust US growth and stabilising financing conditions will help the global economy to grow more strongly next year after muted growth in 2015, says Moody’s Investors Service in its quarterly Global Macro Outlook report. Divergence between the major economies is likely to widen. The report “Global Macro Outlook: 2015-16. Stronger US Dollar and Shifts in Capital Flows Stoke Divisions in Global Growth”, is now available on www.moodys.com. Moody’s subscribers can…

Lower prices to hurt Africa’s oil producers say IMF report

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Lagos, Nigeria (Capital Markets in Africa):- Lower oil prices will reduce growth in sub-Saharan Africa’s major petroleum producing countries and push governments to implement significant policy adjustments, according to the International Monetary Fund (IMF) report released on 28th April 2015. It noted that SSA growth could slow to 4.5% this year from 5.0% in 2014, largely because of the weaker oil prices, while forecasting growth rising to 5.1% in 2016. “For the eight oil exporters,…

OPEC predicts oil prices will stay below $100 for a decade

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The Organization of the Petroleum Exporting Countries (OPEC) thinks oil will stay below $100 for a decade, and it’s worried a low oil price environment won’t be enough to snuff out the emerging US shale gas industry. A report seen by the Wall Street Journal has said that OPEC thinks a best-case scenario will see oil prices at $76 a barrel in 2025. And the organisation also warned crude oil could cost less than $40 per barrel…

Democratic Republic of the Congo B3 rating balances economic fragility with healthy growth prospects

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The Democratic Republic of the Congo’s (DRC) B3 rating primarily reflects the country’s fragile economy and very low per capita income relative to its peers, Moody’s Investors Service says in its latest Credit Analysis for the country published this week. However, the country’s robust growth prospects mitigates some of these constraints. The annual report is available through the links at the end of this press release. The research is an update to the markets and…

IMF Staff Completes discussions with the Central African Economic and Monetary Community

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London, (Capital Markets in Africa):- A team from the International Monetary Fund (IMF), led by Mario de Zamaróczy, visited Libreville and Yaoundé during April 23–May 7, 2015 and held discussions with the institutions of the Central African Economic and Monetary Community (CEMAC1) on common policies for member countries. Mr. Bernard Laurens, mission chief for the CEMAC Financial Sector Assessment Program, joined the mission to discuss financial sector reforms to promote stability and development. At the…

Credit Suisse sees consolidation in commodity markets

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Lagos, Nigeria (Capital Markets in Africa) — Commodities were lower in March, largely driven by fundamental supply factors and macroeconomic headlines, according to Credit Suisse Asset Management. The Bloomberg Commodity Index Total Return performance was negative for the month, with 17 out of 22 Index constituents trading lower. Credit Suisse Asset Management observed the following: Energy was the worst performing sector, down 9.22%, as a global oversupply of crude oil continued to serve as a…

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