Africa Economics Update Domestic factors dominate African markets This month has seen most key African currencies depreciate and key equityindices fall. But while Europe’s latest crisis may have had some marginal effect oninvestor risk sentiment, the key drivers of... 30th June 2015 · 1 min read
Emerging Markets Activity Monitor EM growth still slowing, but non-BRICs are picking up EM growth continues to slow and, according to our GDP Tracker, is now at its weakest pace in almost sixyears. However, the slowdown has almost entirely been driven by further weakness in the BRICs... 30th June 2015 · 1 min read
Emerging Markets Economics Update A selection of our key calls This note summarises our key calls for emerging markets, emphasising where we differ from the consensus. Detailed projections (with specific numbers) are available in our regular publications on the... 30th June 2015 · 1 min read
Emerging Markets Economics Update Grexit, the euro-crisis and the risks for EMs Beyond a handful of economies in Emerging Europe, the direct links between Greece and the rest of the emerging world are limited. What matters for most EMs is not so much the crisis in Greece itself... 29th June 2015 · 1 min read
Africa Economics Update South Africa dodges power price hike, but crisis will linger South Africa’s energy regulator has rejected a proposed hike to electricity prices, sparing South Africa’s overstretched consumers the pain of higher prices. But the decision will only exacerbate the... 29th June 2015 · 1 min read
Africa Chart Pack Rate hikes to add to pressure on South Africa’s economy April’s activity data hinted at an uptick in South Africa’s economy, but we believe that thecontinent’s most developed economy will continue to face significant headwinds over the comingmonths. Growth... 29th June 2015 · 1 min read
Emerging Markets Financial Risk Monitor Risks building in China, Venezuela in crisis The relief rally in Chinese equities prompted by additional policy stimulus has turned global sentiment around, but a sustained recovery in commodity prices will probably require hard evidence that... 26th June 2015 · 1 min read
Frontier Markets Wrap European frontiers vulnerable to mounting threat of “Grexit” The growing threat of a Greek exit from the euro-zone has cast a shadow over the outlook for European frontier markets. Admittedly, the reaction in financial markets has so far been muted. And the... 25th June 2015 · 1 min read
Africa Economics Update South Africa: Tackling unemployment requires structural reform South Africa’s official unemployment rate hit a ten year high of 26.4% in Q1 2015, hammering home the scale of the country’s jobs challenge. Indeed unemployment in the country is more widespread than... 25th June 2015 · 1 min read
Africa Economic Outlook Slower growth in key economies Most economies in Sub-Saharan Africa (SSA) are struggling under the weight of low commodityprices, weakening currencies, and slowing growth in China. In 2015 regional growth will slow to itsweakest... 24th June 2015 · 1 min read
Africa Economics Update Nigeria: Further FX restrictions a worrying sign The Central Bank of Nigeria’s decision to further tighten restrictions on foreign exchange market will not succeed in reducing demand for dollars. Faced with weak export earnings and tumbling FX... 24th June 2015 · 1 min read
Middle East & North Africa Economics Update Egypt’s government wavering on fiscal consolidation Egypt’s public finances are gradually improving, but the recent watering down of tax and spending measures combined with the relatively unambitious targets set out in a recent draft budget has raised... 24th June 2015 · 1 min read
Emerging Markets Economics Chart Pack EMs can weather Fed lift-off – problems could come later With a Fed rate hike sometime this year now widely anticipated, we suspect that any volatility in EM markets when the Fed finally raises rates should prove short-lived. The much bigger risk for... 23rd June 2015 · 1 min read
Middle East & North Africa Chart Pack Foreign investment into Egypt showing signs of a revival The slowdown in Egypt’s economy since the start of the year has been disappointing, but there are at least encouraging signs that the government’s reform programme is starting to bear fruit. Indeed... 18th June 2015 · 1 min read
Emerging Markets Trade Monitor Weak EM exports keep concerns over global demand alive Most of the weakness in emerging market exports in recent months can be pinned on the impact of lower commodity prices and the strength of the US dollar. But there are lingering concerns surrounding... 18th June 2015 · 1 min read
Emerging Markets Economics Update Fed tightening and EMs: risks revisited Yesterday’s statement by US Fed officials suggests that the FOMC is still on course to raise interest rates at September’s meeting. EM financial markets have taken this in their stride today and... 18th June 2015 · 1 min read
