Economy | - Part 85

Cote d’Ivoire forecasts double-digit growth for 2015

Cote d’Ivoire, the world’s top cocoa producer whose economy was battered by a civil war and ensuing political unrest, should see double-digit growth this year according to Prime Minister Daniel Kablan. The West African country has seen its economy expand on average by 9.0% since 2012, and this year “we want to reach double-digit growth,” the Prime Minister added. “We are ambitious in Cote d’Ivoire,” he went on, adding that he expected the country to…

Zimbabwe domestic borrowing up 52 pct to $544 mln y/y in Jan

Posted on by The Editorial Team

HARARE (Reuters) – Zimbabwe government’s domestic borrowing jumped 52 percent to $544.03 in January year-on-year from $358.80 percent in the same period a year ago, the central bank said on Thursday. The southern African country is struggling with falling revenue from taxes, which stood at $469 million in January against a target of $542 million, as the economy stalls and businesses are forced to lay-off workers or shut down. The central bank said the government…

African Inflation Snapshot: February 2015

Posted on by The Editorial Team

Angola inflation rises to 7.73 percent: Angola’s consumer inflation edged up to 7.73 percent year-on-year in February from 7.44 percent in January, data from the statistics office. On a month-on-month basis, prices were up 0.76 percent after a 0.72 percent increase previously. Botswana’s inflation falls to 2.8 percent: The annual inflation rate in February 2015 was 2.8 percent, a drop of 0.8 of a percentage point on the January 2015 rate of 3.6 percent. Annual…

Moody’s downgrades Ghana’s sovereign rating to B3; outlook negative

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Moody’s Investors Service has today downgraded Ghana’s issuer and senior unsecured rating by one notch to B3 from B2. The outlook on the rating is negative. The key drivers of today’s rating action are the following: 1) Deteriorating debt dynamics as reflected by an increasing debt burden due to large fiscal imbalances and a sharp weakening of the country’s national currency, combined with reduced debt affordability stemming from a high cost of funding in the…

Moody’s ASIA PACIFIC Economic Outlook

Posted on by The Editorial Team

China’s data for the first two months of the year were fairly dismal. Most activity indicators suggest that there are large downward pressures on the economy, which means that the government will need to ease measures if it is to keep the economy growing close to its target. Industrial production grew just 6.8% y/y in the first two months of the year, down from a 7.9% increase in December. This was due to further weakness…

Egypt’s current account hits deficit of $2.9 bln in Oct-Dec quarter

Posted on by The Editorial Team

CAIRO (Reuters) – Egypt’s current account deficit widened to $2.9 billion in the three months to December from $1.4 billion in the same period the previous year, according to Reuters calculations. The deficit stood at $4.3 billion in the first half of the fiscal year which began on July 1, compared with a deficit of $866 million in the same period a year before, the central bank said on Thursday. The deficit was driven by…

Nigerian Economy and Financial Market: After Elections… What Next?

Posted on by The Editorial Team

After Elections …What Next? Nigeria’s macroeconomic scene in recent times has been laden with issues surrounding the domestic polity in anticipation of the upcoming elections in March and April. Election campaigns are getting more intense with no one actually sure of which of the two major political parties will carry the day. Falling oil prices still continues to pressure the fiscal stability of government whilst Naira stability is continually tensed on the back of falling external…

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