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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