Economic | - Part 3

Egypt: Steadfast Reforms Key for Economic Stability, Jobs, Growth

Following four years of political uncertainty and economic slowdown, Egypt has chosen a path of adjustment and reform which, if followed resolutely, will lead to economic stability and growth, the IMF said in its first comprehensive assessment of the North African nation’s economy since 2010. Speaking to the IMF Survey, IMF Mission Chief for Egypt, Christopher Jarvis, noted that Egypt faces a challenge. On the one hand, it needs to put its fiscal and external accounts…

Nigeria: election delay heightens risks

Posted on by The Editorial Team

On Saturday, 7 February, the Nigerian presidential election was officially postponed from 14 February to 28 March due to security concerns. The opposition party, the All Progressives Congress (APC), has called this a “setback for democracy”. They claim that the incumbent People’s Democratic Party (PDP) may be using the terrorist insurgency in the Northeast as an excuse to delay an election they believe they cannot win.With this election set to be the closest since the end…

Ghana to grow by 5.8% in 2015

Posted on by The Editorial Team

Business Monitor International anticipated that the Ghanaian cedi would resume its depreciation in the coming three to six months after stabilizing during the last months of 2014. It attributed the expected depreciation of the cedi to the strengthening US dollar, wide current account deficit and uncertainty about an agreement between the International Monetary Fund and the Ghanaian authorities. It forecast the current account deficit to widen from 9.2% of GDP in 2014 to 11.9% of…

Kenya’s Weekly News Review: 6th Feb 2015

Posted on by The Editorial Team

The National Treasury will be seeking to spend an additional Sh137 billion before June as government speeds up investment in big projects while setting aside Sh8 billion to pay salaries and allowances for public servants. The revised estimates, which will have to be tabled before parliament in supplementary budget, are contained a draft budget policy statement published on Friday. Additional money will also finance other projects recommended by parliament during budget approval but which the…

Drop in oil prices to support global growth

Posted on by The Editorial Team

The World Bank anticipated that the decline in global oil prices would have significant macroeconomic, financial and policy implications on the global economy. First, the Bank pointed out that sustained lower global oil prices would contribute to global growth, would temporarily reduce the global inflation rate in 2015 and would generate substantial real income shifts to oil importers from oil-exporters. But it noted that the recovery in global growth would be slow. It said that…

« 1 2 3