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Egypt's budget sets ambitious revenue targets

Location:

EGYPT

The budget envisages an overall deficit of 7% of GDP, revised upwards from an earlier draft because of the effects of devaluation and higher interest rates on public debt…

Turkey’s policy uncertainty will worry investors

Location:

TURKEY

The limited rate hike (annual core inflation is running at 47%) has undermined foreign investors’ hopes that President Recep Tayyip Erdogan’s new economic team would be free to…

Nigeria’s foreign currency supply will grow slowly

Location:

NIGERIA

The move has resulted in official rates depreciating sharply and converging with the parallel market rate; the spread has narrowed to just 16%. The change in policy means that the…

Egypt's external debt looms large

Location:

EGYPT

Meanwhile, the government is struggling with significant accumulated debt, including USD11.8bn that is scheduled to be repaid to the IMF over the next two years alone. The IMF…

Sanctions will increase risks for Russian economy

Location:

RUSSIA

However, although output has grown, a tight labour market and persistent inflation have created new problems. The reorientation of trade away from Europe has resulted in a…

Politics will drive growth in trade de-dollarisation

Location:

INTERNATIONAL

A move away from the US dollar is gaining momentum, driven by the West’s use of economic sanctions, high levels of sovereign debt and a desire to de-link monetary policy from the…

Central bank moves may check Nigeria's currency fall

Location:

NIGERIA

These aim for tighter CBN control over the parallel market. The CBN is also seeking to stabilise the currency through bond issuances, cryptocurrency crackdowns and other schemes.

Middle East and North African debt fears will rise

Location:

MENA

Like other fuel-importing countries in the Middle East and North Africa (MENA), it has large structural fiscal and current account deficits. These have resulted in climbing…

Nigeria's pace of reforms will likely slow

Location:

NIGERIA

This period was marked by two dramatic policy moves: the removal of a costly fuel subsidy and a major devaluation of the naira. Both moves are crucial for reforming Nigeria’s…

Private-sector credit squeeze hits Argentine recovery

Location:

ARGENTINA

The government has continued to absorb banks’ liquidity to close the fiscal deficit, with most private investors reluctant to finance the Treasury. The decline in demand for…