Economy | - Part 81

OPEC predicts oil prices will stay below $100 for a decade

The Organization of the Petroleum Exporting Countries (OPEC) thinks oil will stay below $100 for a decade, and it’s worried a low oil price environment won’t be enough to snuff out the emerging US shale gas industry. A report seen by the Wall Street Journal has said that OPEC thinks a best-case scenario will see oil prices at $76 a barrel in 2025. And the organisation also warned crude oil could cost less than $40 per barrel…

Democratic Republic of the Congo B3 rating balances economic fragility with healthy growth prospects

Posted on by The Editorial Team

The Democratic Republic of the Congo’s (DRC) B3 rating primarily reflects the country’s fragile economy and very low per capita income relative to its peers, Moody’s Investors Service says in its latest Credit Analysis for the country published this week. However, the country’s robust growth prospects mitigates some of these constraints. The annual report is available through the links at the end of this press release. The research is an update to the markets and…

IMF Staff Completes discussions with the Central African Economic and Monetary Community

Posted on by The Editorial Team

London, (Capital Markets in Africa):- A team from the International Monetary Fund (IMF), led by Mario de Zamaróczy, visited Libreville and Yaoundé during April 23–May 7, 2015 and held discussions with the institutions of the Central African Economic and Monetary Community (CEMAC1) on common policies for member countries. Mr. Bernard Laurens, mission chief for the CEMAC Financial Sector Assessment Program, joined the mission to discuss financial sector reforms to promote stability and development. At the…

Credit Suisse sees consolidation in commodity markets

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa) — Commodities were lower in March, largely driven by fundamental supply factors and macroeconomic headlines, according to Credit Suisse Asset Management. The Bloomberg Commodity Index Total Return performance was negative for the month, with 17 out of 22 Index constituents trading lower. Credit Suisse Asset Management observed the following: Energy was the worst performing sector, down 9.22%, as a global oversupply of crude oil continued to serve as a…

IMF projected real GDP in Sudan to grow by 3.3% in 2015

Posted on by The Editorial Team

Khartoum, Sudan (Capital Markets in Africa): – The International Monetary Fund (IMF) projected real GDP in Sudan to grow by 3.3% in 2015 and by 3.9% in 2016, relative to a growth rate of 3.4% in 2014, and compared to growth rates of 3.9% and 4.3% in 2015 and 2016, respectively, for oil-importers in the MENA region. It estimated the country’s nominal GDP at $76.2bn in 2015 and at $76.5bn in 2016. It forecast Sudan’s annual average inflation rate at 19%…

Global speculative-grade default at a seven-year low of 1.4% in 2014

Posted on by The Editorial Team

London (Capital Markets in Africa):- Standard & Poor’s indicated that 60 corporate issuers worth $91.6bn in rated debt defaulted globally in 2014, down from 81 defaulted issuers worth $97.3bn in 2013. It noted that the number of defaults reached its lowest level since 2011 despite considerable geopolitical turmoil, the ending of the U.S. Federal Reserve’s monthly asset purchases, and the steep decline in global oil prices. Also, it added that the outstanding debt volume that defaultedwas in line with the $91.5bn average…

Gabon’s Ba3 rating balances wealth and sound public finances with risks stemming from low oil prices

Posted on by The Editorial Team

Gabon’s Ba3 rating is supported by its oil- wealth, relatively sound public finances and membership of the Franc Zone, Moody’s Investors Service says in its latest Credit Analysis for the country published recently. However, a relatively undiversified economy and the government’s reliance on oil-derived revenue are among the factors which constrain its rating. “The key challenge for Gabon’s government is to stick to its plan to diversify the economy, while maintaining sound public finances at…

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