Economy | - Part 76

Uganda’s 2015/2016 Fiscal Year GDP Forecast slashes to 5% from 5.8% — IMF

KAMPALA, Uganda, Capital Markets in Africa — The International Monetary Fund (IMF) revised Uganda’s growth forecast for the 2015/16 (July-June) fiscal year to 5 percent from the 5.8 percent it predicted in May, according to the press statement released by the IMF on November 18 2015. The Fund attributed the cut in GDP to the global and regional challenges, compounded by election-related uncertainties, the shilling depreciated sharply, driving an increase in inflation (annual core inflation…

African Economic Watch: African Countries Release October Inflation Rates Statistics …

Posted on by The Editorial Team

Lagos, Nigeria, Capital Markets in Africa — Most of the African countries released the inflation rates figure for October in the week ending Sunday 15 November 2015. South Africa also released the production figures for the mining and manufacturing sector and Tanzania’s M3 money supply September data were also released by the Bank of Tanzania. Sudan’s annual inflation rate eased to 13.37 percent in October from a revised 13.56 percent in September, a monthly report…

Moody’s changes outlook on the DR Congo’s Ba3 rating to negative; rating affirmed

Posted on by The Editorial Team

Brazzaville, DR Congo, Capital Markets in Africa —- The rating outlook on the Democratic Republic of the Congo issuer rating of Ba3 was changed to negative from stable and Ba3 rating was affirmed the rating by Moody’s rating agency on November 13 2015. Moody’s Rating Agency attributed the negative outlook to increasing uncertainty regarding the government’s capacity to consolidate its finances amid a protracted oil price shock that has depressed the fiscal and growth…

Moody’s affirms Gabon’s Ba3 ratings; outlook stable

Posted on by The Editorial Team

Libreville, Gabon, Capital Markets in Africa —- Moody’s Investors Service has today affirmed the Republic of Gabon’s Ba3 issuer and government bond ratings. The outlook is stable. The key drivers behind Moody’s decision to affirm the Ba3 ratings are: (1) Moody’s expectation that the oil shock-induced deterioration in the government’s debt profile will reverse from 2017 onwards and will remain in line with similar rated peers; (2) the country’s membership of the Economic and Monetary…

Côte d’Ivoire’s sovereign ratings upgrade to Ba3 from B1, outlook stable — Moody’s

Posted on by The Editorial Team

Abidjan, Cote d’Ivoire, Capital Markets in Africa — Moody’s Investors Service (Moody’s) has today upgraded the long-term ratings of Côte d’Ivoire to Ba3 from B1. The short-term issuer rating of NP was affirmed. The outlook on the long-term ratings has changed to stable from positive. Côte d’Ivoire’s local currency country ceilings for bonds and deposits remain at Baa3, and its foreign currency country ceilings for bonds and deposits also remain Baa3/P-3. Rating RationaleThe first driver…

Egypt’s economic and fiscal conditions are improving, but large financing needs ….

Posted on by The Editorial Team

Cairo, Egypt, Capital Markets in Africa — Reforms have sparked improvements in Egypt’s (B3 stable) public finances and economic conditions, but challenges remain, says Moody’s Investors Service in a report published on 3rd November 2015. The rating agency notes that the challenges include the government’s large financing needs, structural economic issues such as high unemployment and inflation, and elevated political risks. The rating agency projects real GDP growth of 5.0% for the current fiscal year…

World Bank Revises Down Forecasts for Oil Prices, Key Commodities in 2015 and 2016

Posted on by The Editorial Team

Lagos, Nigeria, Capital Markets in Africa — In its latest commodity update, the World Bank is lowering its 2015 forecast for crude oil prices from $57 per barrel in its July report to $52 per barrel. The revised forecast reflects a further slowing in global economic performance, high current oil inventories, and expectations that Iranian oil exports will rise after the lifting of international sanctions, according to the Bank’s new Commodity Markets Outlook, a quarterly update on the state of the international commodity markets. The…

« 1 … 74 75 76 77 78 … 88 »