Global interest rates are still hovering around historic lows, but a sharp rise could have ugly consequences for Africa’s economies.
Gambia’s new leader, Adama Barrow and his administration inherited a bankrupt economy when they took office a year ago. Since then, matters have decidedly changed for the better, with the country expected to register a growth rate of 5% by 2020. Sanna Camara reports from Banjul.
Ethiopia’s economic success over the last 20 years has been based on a state-led model, but now, as talk of political reform emerges, economic change could also be in the air.
Lenders and investors have welcomed the Egyptian government’s cutting of subsidies, but many ordinary Egyptians are feeling the pinch.
Egypt has devalued its currency and reduced subsidies. Exporters are benefiting, but the country’s citizens have been hit hard by the erosion of their incomes.
Economic growth in sub-Saharan Africa is expected to recover to 2.6% in 2017, up from 1.4% last year, according to the International Monetary Fund.
Ethiopia’s economy remains robust despite a difficult 2016 that has seen a drought and anti-government protests dampen optimism.
The president’s bid to soften an indigenisation law clears the way for a $986m loan deal with the IMF.
Lungu captured the electorate with populist policies, but will struggle to get them past a weary IMF.
It now seems certain that a new development bank, operated by the BRICS countries, will emerge in the near future. Its impact on the developing …