Continued naira weakness and fuel price concerns have prompted Nigeria’s government to undertake some short-term fixes that threaten renewed vulnerabilities further down the line. Our concerns about the government’s interventionist stance were reinforced by the announcement of new finance minister Wale Edun this week. Elsewhere, the fallout from China’s property woes for the global economy may be limited, but Zambia and South Africa’s metal exports are particularly exposed. Finally next week the BRICS summit comes to South Africa, where a BRICS currency and membership expansion will be on the agenda.
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