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IMF-Nigeria: 2013 Article IV Consultation-Staff Report
Press Release and Statement by the Executive Director for Nigeria
April 22, 2014-- Summary: KEY ISSUES Context. Despite recent strong non-oil growth, poverty and income inequality remain high and social and governance indicators are below averages for sub-Saharan Africa. Structural reforms under the Transformation Agenda are ongoing, but significant infrastructure gaps and weak institutional capacity still retard growth prospects.
At the same time, vulnerabilities are rising in the buildup to general elections in 2015 and fiscal buffers have been reduced. Meanwhile, GDP is being rebased and structural shifts may suggest a refocus in some policy areas. Outlook and Risks. Growth is expected to remain strong, driven by agriculture, trade, and services. Inflation should continue to decline, in line with a tight monetary policy, and a lowering trend in food prices from higher rice and wheat production.
view the IMF-Nigeria: 2013 Article IV Consultation-Staff Report
Source: IMF
China's growth slows to 18-month low
April 18, 2014--China's economy grew at its slowest pace in 18 months in the first quarter of 2014, official data showed on Wednesday, with signs of waning momentum already prompting limited government action to steady the world's second-largest economy.
Authorities have ruled out major stimulus to fight short-term dips in growth, and some analysts think the economy will continue to lose momentum into the middle of the year.
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Source: FIN24
Nigeria: Single-Digit Inflation Outlook to Boost Fixed Income Investments
April 18, 2014--The single-digit inflation outlook in the country will generate further interest in Nigeria's fixed income securities from both domestic and foreign investors, a report has stated.
FSDH Merchant Bank Limited which stated this in its latest monthly and economic report however warned that external or internal shocks could derail the single-digit inflation.
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Source: AllAfrica.com
JSE ticks up, led by platinum stocks
April 17, 2014--South African stocks have ended in positive territory as talks to end a platinum-sector strike injected fresh optimism in the sector.
Prospects for platinum producers Anglo American Platinum and Impala brightened with news that striking mining union leaders and companies executives were in direct talks to end a walk out that is entering its 13th week.
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Source: FIN243
Rand halts five straight losses
April 17, 2014--The rand has been firmer against the dollar after five prior straight losses as dovish comments from the US Federal Reserve weighed on the greenback.
The rand climbed to as high as R10.4705/$, a level last reached on April 11 according to Thomson Reuters data, and was trading at R10.4750/$ by 15:30 GMT, up 0.87% from Wednesday's close.
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Source: FIN24
Big mining firms pull JSE higher
April 16, 2014--South African stocks have climbed as mining shares were lifted by positive production updates and data showing Chinese economic growth came in a touch above forecasts.
Shares of BHP Billiton rose 1.14% to R338.58 after the world's biggest diversified mining company on Wednesday lifted full-year iron ore production guidance by 5 million tonnes to 217 million as it pushes ahead with new mine work in Australia.
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Source: FIN24
Rand set to snap losing streak
April 16, 2014--The rand looked set to snap a four-session losing streak against the dollar on Wednesday as investor sentiment towards emerging markets received a boost from solid Chinese growth data.
Analysts, however, expected global risk appetite to remain cautious as the political crisis in Ukraine plays out, while a prolonged strike in the platinum mining sector remains a worry for investors.
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Source: FIN24
JSE slides, led lower by miners
April 15, 2014--South African stocks have been dragged lower by top tier mining stocks as global gold prices slumped by more than 2% on US dollar strength.
AngloGold Ashanti was the biggest loser in the blue chips index, tumbling 3.78% at R184.25, its biggest percentage decline in nearly two months.
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Source: FIN24
Rand softer on Ukraine, China fears
April 15, 2014--The rand has weakened against the dollar as the market fretted about what is expected to be weaker Chinese growth data
and escalating tensions in Ukraine.
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JSE survives new wave of risk aversion view more
Source: FIN24
April 14, 2014--Emerging markets are again on the unwanted list as investors,
spooked by the renewed crisis in the Ukraine, are fleeing to safer havens.
Source: FIN24
