Bips & Pieces
West African Economic and Monetary Union Countries Lead Africa on Growth Amidst Broader Slump
Growth among West African Economic and Monetary Union (WAEMU) countries is expected to hold steady at 6.4% in 2020, according to World Bank figures, while growth prospects in some of the continent’s largest economies remain mixed.
15 Jan 2020
Markets See Omani Succession as “Credit Positive”
New sultan of Oman has huge shoes to fill, but progress on the reforms front is expected to continue, according to MUFG researchers.
14 Jan 2020
Sri Lanka: Credit Under Pressure as Fiscal Consolidation Weakens
S&P revised its outlook on Sri Lanka to negative (B) following a similar move from Fitch in December, raising concerns about expansionary fiscal measures put in place by the authorities under recently elected President Gotabaya Rajapaksa.
14 Jan 2020
Middle East Tensions Concerning, but Lower Short-Term Conflict Risks – Ashmore
Concerns that the assassination of the Iranian general Qassem Soleimani may spark an escalation between the US and Iran have abated following the underwhelming Iranian response. Tensions linger, but in the short-term the prospect of conflict has subsided, according to a note from Ashmore.
14 Jan 2020
PhosAgro Picks Seven Bookrunners on Russia’s First Corporate Debt Deal of 2020
The fertilizer giant is roadshowing for a USD-denominated LPN that will go towards refinancing USD150mn Eurobond maturing next year.
14 Jan 2020
Russian Central Bank Eased Pace of De-dollarisation in 2019
While the government’s rhetoric implies commitment to dumping the greenback, latest figures released by the CBR tell a slightly different story.
14 Jan 2020
EM Currencies, Local Bonds Top Picks for 2020 – JP Morgan Asset Management
Last year was wracked by uncertainty, with trade tensions and a sharp reversal in rates weighing on growth. With the apparent relaxation of trade tensions and a consistent, supportive monetary policy environment, 2020 may be the year of revitalised economic growth, JP Morgan Asset Management analysts argue.
14 Jan 2020
Kenyan Economic Growth Slowed in 2019 – Cytonn
Last year saw Kenyan economic growth slow, largely due to underperformance in the agricultural, transport and electricity sectors, according to the Cytonn Annual Markets Review.
13 Jan 2020
Private Sector Lending in Nigeria Rose 15% between January and November 2019, CBN Figures Show
Data from the Central Bank of Nigeria shows loans to the private sector increased by NGN3.46tn between January and November 2019.
13 Jan 2020
Public Debt, Deficits to Undermine Latin American Countries’ Ability to Respond to Shocks - Fitch
Rapid growth in public debt and yawning fiscal deficits in a number of Latin American countries could erode the capacity of regional governments to weather a global economic downturn in 2020, according to a note from Fitch Ratings.
13 Jan 2020