African economies are particularly vulnerable if the collapse of the Black Sea Grain Deal as well as India’s ban on the export of all non-basmati white rice leads to food supply disruptions. At the very least, it’s bad news for inflation and those countries already suffering from balance of payments strains. Elsewhere, Nigeria released inflation figures for June this week which raised more questions than answers. And ongoing protests in Kenya threaten to disrupt economic activity as well as undermine the government’s fiscal consolidation efforts.
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