Economic | - Part 2

Moody’s Affirms Zambia’s B1 Sovereign Rating, Changes Outlook to Negative

Lusaka, Zambia (Capital Markets in Africa) — Global rating agency Moody’s has downgraded Zambia’s economic outlook rating from stable to negative on account of deteriorating debt metrics,” as evidenced by a rapidly rising debt burden and increasing debt servicing costs” amongst other drivers. In a statement, Moody’s observed that there was a trend of missed fiscal targets that point to high execution risks for the current deficit reduction plan to arrest the upward debt trajectory,…

African economies grew by 3.9% GDP in 2014 amid global and regional shocks

Posted on by The Editorial Team

Abidjan Cote D’Ivoire (Capital Markets in Africa) — African economies registered 3.9% average GDP growth in 2014 compared to the 3.7% in 2013. This reflects resilience to global and regional shocks which affected the continent last year, according to the African Development Bank Group’s Annual Report, which was released Wednesday, May 27 in Abidjan. According to the report, despite the negative impacts of low commodity prices, the Ebola epidemic in West Africa as well as…

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…

Egypt’s GDP expected at 3 pct in second half of fiscal year says Ashraf al-Arabi

Posted on by The Editorial Team

CAIRO (Reuters) – Egypt’s planning minister said on Wednesday the country’s average economic growth was expected to be 3 percent in the second half of the 2014/2015 fiscal year, compared with 5.6 percent in the first half of the year. Ashraf al-Arabi told reporters at a news conference that average economic growth for the current fiscal year would be 4 percent, or slightly above 4 percent.

Trade business cycles for a universe of profit

Posted on by The Editorial Team

GLOBAL financial markets, like weather patterns, are governed by macro and micro cycles and these cycles are definable and predictable. This may come as a surprise, but each financial asset class forms part of a larger constellation, much like a constellation of planets, and can be seen to move in a similar orbital way. All asset classes closely interweave with each other and are strongly influenced by each other in a similar way that planets…

Africa: End of the Commodity Super-Cycle Weighs on Growth

Posted on by The Editorial Team

Sub-Saharan Africa’s growth will slow in 2015 to 4.0 percent from 4.5 percent in 2014, according to World Bank projections released today. This downturn largely reflects the fall in the prices of oil and other commodities, notes Africa’s Pulse, a twice-yearly World Bank Group analysis of the issues shaping Africa’s economic prospects released today at the start of the World Bank Group’s 2015 Spring Meetings, which will draw the world’s finance and development ministers to Washington,…

Nigeria’s external shocks raise economic vulnerabilities

Posted on by The Editorial Team

Merrill Lynch projected Nigeria’s real GDP growth to decelerate to 3.5% in 2015 from an average annual growth rate of 5% between 2011 and 2014, due to the large terms of trade shock that has resulted from lower global oil prices. It said that the depreciation of the Nigerian naira would increase inflationary pressure and would weigh on domestic consumption that is heavily dependent on imports. In addition, it forecast the inflation rate to average…

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