CBN Governor Cardoso’s remarks this week reaffirmed his ambition to restore the credibility of the Bank. So far, though, a clear strategy to stabilise the naira and inflation has been lacking. The stakes for the MPC meeting on Tuesday are high, with the threat that the CBN’s credibility suffers yet another blow. Elsewhere, African sovereign debt struggles have continued to garner attention. Ethiopia’s potential debt servicing pause, and Kenya extra IMF financing should provide breathing room for debt repayments. Finally, South African activity data point to stagnation in GDP growth in Q3, but easing loadshedding and, potentially, looser fiscal policy could bring an improvement over 2024.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services