Economy

Moody’s affirms Tunisia’s government issuer rating at Ba3 and changes the outlook to stable from negative

Tunis, Tunisa (Capital Markets in Africa) — Global rating agency Moody’s has affirmed Tunisia’s government issuer rating at Ba3 and changed the outlook to stable from negative. The key drivers for the ratings rationale were attributed to a significant decline in domestic political risk emphasized by the successful democratic transition and installing of a broad unity government. As well as reduced external funding challenges following the resumption of official financing and access to international capital…

South Africa’s central bank keeps repo rate steady at 5.75 pct

Posted on by The Editorial Team

Pretoria, South Africa (Capital Markets in Africa): – South Africa’s Reserve Bank left interest rates unchanged as expected on Thursday but warned the deteriorating inflation outlook meant the stance cannot be “maintained indefinitely”. The bank has kept its benchmark rate steady at 5.75 percent since July last year as Africa’s most advanced economy struggles with power shortages being the biggest risk as state utility Eskom fails to cope with demand. But rising electricity and oil prices…

Broadly stable outlook for Sub-Saharan African sovereign credit quality

Posted on by The Editorial Team

London (Capital Markets in Africa):- The credit quality of sovereigns in Sub-Saharan Africa (SSA) over the next 12-18 months will be supported by strong infrastructure investment, structural reforms and competitiveness gains from currency depreciation, says Moody’s Investors Service in its latest sovereign outlook for the region. However, lower oil and commodity prices, uneven global growth, latent political risk and tighter external financing conditions pose challenges of different magnitudes to the region’s economies. The report, “Sovereign…

Burundi’s Political Crisis Is Credit Negative

Posted on by The Editorial Team

Bujumbura, Burundi (Capital Markets in Africa):-Last Friday, the United Nations High Commissioner for Refugees said that more than 105,000 people had fled Burundi (unrated) to neighbouring countries to escape political violence after three weeks of demonstrations and a failed coup last Wednesday. The worsening political situation in Burundi threatens to disrupt economic activity and administrative stability, weaken the political will and capacity to implement much-needed structural reform, and jeopardise multilateral and bilateral donor support. Additionally,…

World Bank Commends DRC’s Efforts to Stabilize Macroeconomic Environment

Posted on by The Editorial Team

Kinshasa, DRC (Capital Markets in Africa):– World Bank Group Managing Director Dr. Sri Mulyani Indrawati on Tuesday concluded her visit to the Democratic Republic of Congo (DRC), where she met with President Joseph Kabila Kabange, Prime Minister Matata Ponyo and key members of the Congolese Government to discuss long-term development prospects for the region, and to review progress made as part of the Great Lakes Regional Initiative. During meetings held May 10-12, Dr. Indrawati commended…

Moody’s: Currency shifts to widen gap between global economies in 2015-16

Posted on by The Editorial Team

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…

Lower prices to hurt Africa’s oil producers say IMF report

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- Lower oil prices will reduce growth in sub-Saharan Africa’s major petroleum producing countries and push governments to implement significant policy adjustments, according to the International Monetary Fund (IMF) report released on 28th April 2015. It noted that SSA growth could slow to 4.5% this year from 5.0% in 2014, largely because of the weaker oil prices, while forecasting growth rising to 5.1% in 2016. “For the eight oil exporters,…

« 1 … 78 79 80 81 82 … 88 »