Economy | - Part 79

Democratic Republic of Congo: Economic outlook favorable over the medium term says IMF

Kinshasa, DR Congo (Capital Markets in Africa) — The International Monetary Fund projected the Democratic Republic of Congo’s real GDP growth rate at 9.2% in 2015, unchanged from 2014, constituting one of the highest growth rates in the world. It anticipated economic activity to be supported by mining production, especially copper and gold. It indicated that the country’s medium-term outlook continues to be promising with low inflation and high economic growth, to be supported by…

Côte d’Ivoire: Economic growth at 7.7% in 2015 and 7.8% in 2016, net FDI at 2.9% of GDP

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Abidjan, Côte d’Ivoire (Capital Markets in Africa) — The International Monetary Fund (IMF) projected Côte d’Ivoire’s real GDP to grow at 7.7% in 2015 and at 7.8% in 2016 compared to a growth rate of 7.5% in 2014. In parallel, it forecast growth at 4.5% in 2015 and 5.1% in 2016 for Sub-Saharan Africa (SSA), and at 6% in 2015 and 6.2% in 2016 for the West African Economic and Monetary Union, to which Côte…

Ethiopia’s favourable growth prospects and low debt burden support B1 rating says Moodys

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Addis Ababa, Ethiopia (Capital Markets in Africa) :- Ethiopia’s (B1 Stable) government bond rating is supported by its strong growth prospects, prudent fiscal management and large and stable donor inflows, Moody’s Investors Service says in its latest credit analysis of the country today. However, Ethiopia’s relatively small economy, low per capita income and weak institutional strength all constrain the rating. The report is now available on www.moodys.com. Moody’s subscribers can access this report via the link…

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

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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,…

Moody’s: Mauritius’s diversified and resilient economy support rating; fiscal challenges

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Port Louis, Mauritius (Capital Markets in Africa) — Mauritius’s small yet diversified economy, good record of attracting investment and its resilience against external shocks underpin its Baa1 (Stable) government bond rating, Moody’s Investors Service said in its latest credit analysis of the country published this week. The Mauritian authorities’ key challenges are to continue to foster domestic and foreign investment, maintaining the country’s financial stability and consolidating the public finances to help meet its government…

Nigeria’s new President Muhammadu Buhari promises to supercharge the African economic giant

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Criticism of Nigeria as a place to do business is widespread but misplaced. The scaremongers say that the country is unstable, with a crumbling economy and threats from terrorist groups. They point to oil shortages, collapsing crude prices, the ferocity of the Boko Haram terrorist group, and rampant corruption. But these snapshots do not paint a fair portrait of sub-Saharan Africa’s largest economy, and overlook what the regional powerhouse offers foreign corporations and investors. President-elect…

Governor of Congo mining hub Katanga warns against tax hikes

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LUBUMBASHI, DRC (Capital Markets in Africa): – The powerful governor of Democratic Republic of Congo’s Katanga province warned on Wednesday against significant tax hikes in a proposed new mining code amid a recent decline in copper prices. The southeastern province accounts for nearly all of the vast central African state’s copper production, which surpassed 1 million tonnes for the first time in 2014. Congo vies with Zambia to be the continent’s top producer of the metal. A…

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