Elevated commodity prices on the back of the Russia-Ukraine crisis will almost certainly add to inflationary pressures across Sub-Saharan Africa. High prices for energy, metals and agricultural products that African countries export seem to have shielded most currencies in the region from sinking amidst a deterioration in risk appetite. But there are some signs of stress. In particular, the Ghanaian cedi has weakened sharply and its sovereign dollar bond spreads have widened, further increasing its public debt vulnerability.
EM Drop-In (Thur. 3 March, 15:00 GMT) We’re discussing the impact of Russia-Ukraine on emerging markets in a special 20-minute briefing this Thursday. Registration details.
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