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Policy & Government

Impact of Coronavirus Begins to Show in Economic Data

As the coronavirus continues to spread, with novel cases being reported in countries across the world almost daily, its impact is beginning to become evident in economic data.

28 Feb 2020

South Africa Budget: Huge Wage Bill Cut Raises Credibility Issues, Questions Over Fiscal Health

South Africa’s recently-revealed 2020 budget review contained a series of ambitious pledges designed to win over markets and restore public sector finances, including a ZAR160bn in cuts to public wages over three years, but analysts say the move raises credibility issues and likely sets the stage for a battle with the nation’s powerful unions.

28 Feb 2020

Tadawul & IHS Markit Launch Saudi Government Sukuk Index

Tadawul and IHS Markit have partnered to launch the iBoxx Tadawul SAR Government Sukuk Index dedicated to tracking riyal-denominated government sukuk, a move the may enhance liquidity in the sector.

27 Feb 2020

China Central Bank Announces New Relief Measures for SMEs to Kickstart Economy, Contain Impact of COVID-19 Outbreak

The People’s Bank of China (PBOC) announced a slew of new measures designed to ease access to financing and loan terms for small businesses in a bid to kickstart a flagging economy being battered by a viral outbreak.

27 Feb 2020

Additional State Support for Eskom Unlikely for Now, But Available if Needed

Measures to support the ailing South African state-owned utility introduced throughout the past year should prove sufficient as the government moves to break up the company into three separate entities, ING predicts, amid reports of new closure threats at its largest operational power plant.

26 Feb 2020

Coronavirus Could Weight on Nigeria’s Ability to Secure Crucial Loans from China, Protect Fiscal Revenues – SBM

The coronavirus outbreak currently plaguing global markets may harm Nigeria’s ability to secure Chinese loans needed to fund the 2020 budget, while also weighing on trade and oil revenues, according to a research note from SMB Intelligence.

25 Feb 2020

Kenya Bankers Association Questions Efficacy of Rate Cuts

Following a recent meeting of the Monetary Policy Committee (MPC) in January, the Central Bank Rate was cut for the second time since November 2019 from 8.5% to 8.25%. A recent note from the Kenya Bankers Association Centre for Research on Financial Markets and Policy has questioned whether this will be able to boost credit growth.

24 Feb 2020

Conducive Macro Backdrop Bolstered Rwanda’s Financial Sector in 2019 – Central Bank

Rwanda’s financial sector enjoyed healthy growth throughout 2019, whilst key metrics indicate that the banks remain well capitalised and non-performing loans (NPLs) are continuing to fall, according to a recent note from the Financial Stability Committee at the National Bank of Rwanda.

21 Feb 2020

Brazil Delays Administrative Reforms Again, According to Local Press

An administrative reform package that was to be sent to Brazil’s lower house yesterday has been delayed, according to a report in local press, an ominous sign for more ambitious reforms due to be introduced.

21 Feb 2020

IMF Warns Argentina Bond Holders That Haircuts May be "Unavoidable"

The Fund held a series of “productive” meetings with Argentine officials in Buenos Aires, commending the overall efforts to restore growth and reduce poverty, but signalled that write-offs will be inevitable.

20 Feb 2020

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