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Africa: Grim news across the region

Figures released over the past month added to concerns that Africa’s largest three economies stumbled in early 2019. There was, admittedly, some good news from Kenya, where judges struck down a cap on commercial lending rates that had depressed the growth of private sector credit. But, in general, this month’s developments suggested that the risks to our already below-consensus forecasts may be weighted to the downside.

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