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Mozambique is running one of the highest real rates in Africa

Forex: Speculators turn more bearish on the USD. Fixed Income: Bank of Mozambique and Bank of Namibia are set to announce their rate verdicts today. Macroeconomic: Global “fear gauge” declines in November as uncertainty eases.
ETM Analytics Alexa
Alexa Archibald @ ETM Analytics 30 November 2022

Nigeria is no longer an oil-driven economy

Forex: Kenya’s foreign exchange level drops below the central bank’s statutory requirement. Fixed Income: Ghana shows signs of fiscal constraint, but fiscal distress risks remain acute. Macroeconomic: Oil’s contribution to Nigeria’s economy has almos...
ETM Analytics Alexa
Alexa Archibald @ ETM Analytics 25 November 2022

FOMC guidance will be instrumental in the outlook for African bonds

Forex: Kenya’s foreign exchange reserves drop, pressuring import cover. Fixed Income: Rout in bond market persists as stronger-than-expected Eurozone CPI fuels hawkish bets. Macroeconomic: Nigeria’s economy-wide PMI remains buoyed in expansionary ter...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 2 November 2022

African Bond Index slumps to a more than 2-year low

Forex: Egyptian pound extends slump to cross 24.00 per USD. Fixed Income: Rout in bond market persists as stronger-than-expected Eurozone CPI fuels hawkish bets. Macroeconomic: Inflation in East Africa continues to run hot.
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 1 November 2022

Fitch Ratings warns of a possible default by Ghana

Forex: Egypt goes against the tide and leaves rates on hold. Fixed Income: The belly of Kenya’s local currency bond curve is underperforming amid rising fiscal concerns. Macroeconomic: Gold miners are facing mounting costs.
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 23 September 2022

Are IMF deals pivotal for fiscally fragile African countries?

Forex: Nigeria's foreign currency reserves fell by $194.34mn in August. Fixed Income: Egypt, Ghana and Zambia are attracting the most attention in Africa's fixed income space. Macroeconomic: Global food prices fall for a fifth straight month.
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 5 September 2022
Are IMF deals pivotal for fiscally fragile African countries?
Are IMF deals pivotal for fiscally fragile African countries?