Policy & Government
Kuwait’s 2020/21 Budget Reveals Record Fiscal Deficit – Marmore
Kuwait has published its budget proposal for the fiscal year 2021, which reveals that the nation’s deficit will climb for the sixth consecutive year in a row to reach a record high.
24 Jan 2020
Commercial Deals Totalling GBP6.5bn Between UK and Africa said to ‘Underwhelm’ Following High-Profile Summit
The UK and African governments launched a series of new initiatives during a high-profile investment and trade summit hosted in London this week, but despite the hype around the potential for post-Brexit free trade opportunities, some observers remain relatively underwhelmed.
23 Jan 2020
Uzbekistan Plans Ambitious IPO Schedule
Following the death of President Islam Karimov in 2016, Uzbekistan’s new President, Shavkat Mirziyoyev has set the country on a long but necessary path to reform. The relaxation of foreign exchange markets, release of political prisoners, and the sovereign’s debut Eurobond issuance have all since highlighted reform efforts in one of Asia’s most tightly controlled markets. Now, as the government…
21 Jan 2020
US Trade Deal with China: Phase One Is Signed Off, What Next?
The presidential seals on the deal are not even dry, but concerns about feasibility of some of the new agreement’s key aspects are already rising, ING Bank analysts suggest.
17 Jan 2020
Russian Government Overhaul Barely Moves Markets
The Russian leader announces little-known bureaucrat as replacement to Medvedev, who in turn will become the new deputy head of Russia’s Security Council.
16 Jan 2020
Nigeria’s Buhari Signs 2019 Finance Bill into Law
Nigerian President Muhammadu Buhari has ratified a 2019 finance bill that will see a rise in a rise in VAT and taxes on non-resident firms, and ease others for domestic small businesses.
15 Jan 2020
Islamic Finance to Grow at Slow Rate in 2020 – S&P Global
The Islamic finance industry is set to grow at a rate of around 5% in 2020, due to weak conditions in economic conditions in the industry’s core markets, according to S&P Global’s ‘Islamic Finance Outlook 2020’. The report also notes three drivers - the rise of FinTech, ESG sukuk, and standardisation - could fuel the industry.
15 Jan 2020
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
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
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