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Strikes in SA, naira under pressure, Ethiopia ceasefire

South Africa is on the cusp of large public sector strikes which will deal another blow to the recovery and raise the risk of fiscal slippage just a week after the Medium Term Budget Policy Statement. Elsewhere, Nigeria’s demonetisation plans threaten to disrupt activity and underline officials’ loyalty to unorthodox policies, all of which has sparked a sell-off in the naira. Finally, Ethiopia’s federal government agreed a fresh ceasefire with Tigrayan rebels this week but, even if this holds, the conflict is likely to have inflicted significant damage to the country’s long-term growth prospects.

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