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South Africa and AGOA, Nigeria inflation, Ghana-IMF

Allegations that South Africa has supplied arms to Russia has led to calls for the country to lose preferential trade access to the US via the African Growth and Opportunities Act which, while not a disaster, would be an unwelcome development for an already-struggling economy. Elsewhere, the rise in Nigeria’s headline inflation rate to a fresh 17-year high in April means that the central bank will probably deliver another rate hike next week. And in Ghana, the IMF signed off on a £3bn financing package this week but there is still some way to go to get a debt restructuring over the line.

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