The Nigerian naira is seen weakening in the days ahead on the back of accumulated demand, while the Kenyan shilling could steady as importer appetite in the energy sector sags.
Nigeria
Nigeria’s naira is seen weakening on the black market as dollar demand balloons from foreign investors and importers with payment...
Many are calling for a temporary moratorium on all debt repayments by developing and emerging economies, in order to prevent the COVID-19 pandemic from triggering a tsunami of sovereign defaults. Rather than waiting passively until debtors stop meeting their obligations, the argument goes, creditors would be better off agreeing...
• Global trade values fell 3% in the first quarter of 2020
• An estimated quarter-on-quarter decline of 27% is expected in the second quarter
• Commodity prices fell by a record 20% in March, driven by steep drops in oil prices
The coronavirus pandemic cut global trade values by 3% in...
Many uncertainties haunt the world’s campaign to counter the COVID-19 pandemic, but one thing is now sure: Global economic activity will suffer greatly, with large-scale consequences for the incomes and welfare of all, but especially for the most vulnerable food import-dependent countries.
In the absence of timely and effective policy...
The COVID-19 crisis is now widely seen as the greatest economic calamity since the Great Depression. In January, the IMF expected global income to grow 3 percent; it is now forecast to fall 3 percent, much worse than during the Great Recession of 2008-09. Behind this dire statistic is...
Having already been buffeted by two big shocks in the last ten years, the global economy’s highly interconnected wiring is suffering a third because of the COVID-19 pandemic. Globalization thus faces a three-strikes-and-out situation that could well result in a gradual but rather prolonged delinking of trade and investment,...
The International Monetary Fund on Wednesday said its executive board has approved $739 million in emergency financing to help Kenya respond to the economic shock caused by the novel coronavirus pandemic.
The IMF said it was in close contact with Kenyan authorities and stood ready to provide policy advice and...
Kenyan and Ugandan currencies are likely to firm this week as Nigeria’s comes under pressure and Zambia and Tanzania’s hold steady.
KENYA
The Kenyan shilling is expected to strengthen due to inflows from the diaspora and an emergency International Monetary Fund (IMF) loan to support the economy against the impact...
The novel coronavirus could kill between 83,000 and 190,000 people in Africa in the first year and infect between 29 million and 44 million in the first year if it is not contained, the World Health Organization (WHO) said last week Thursday.
The projections are contained in a new WHO...
In the wake of the COVID-19 pandemic, Madagascar President, Rajoelina took the world by storm after endorsing a herbal product formulated and manufactured locally by the Malagasy Institute of Applied Research (MIAR).
“All trials and tests have been conducted and its effectiveness has been provided in reducing and elimination of...