Results for Africa
- Zambia Unveils Austerity Measures Amid Copper Price Slump
Mineral-rich Zambia has announced a program of austerity measures to try to close a gaping budget deficit and restore confidence in southern Africa’s third-largest economy amid a global commodity bust and crippling power blackouts, The Wall Street Jour ...
Daily Headline - global.abi.org - 11/29/2015 - 17:14 - 0 comments
- Big African Debt Burdens, Written Off, Are Back Again
Rock stars helped convince the international community to write off more than $100 billion of African government borrowings a decade ago. Now the big debts are back, and it’s getting tougher for countries to pay them off, The Wall Street Journal repo ...
Daily Headline - global.abi.org - 11/16/2015 - 19:46 - 0 comments
- Angola’s Boom, Fueled by China, Goes Bust
The oil boom that turned this Atlantic coast city into the world’s most expensive for foreigners has gone bust, threatening President José Eduardo dos Santos’s long grip on power in Africa’s second-biggest crude producer, The Wall Street Journal repo ...
Daily Headline - global.abi.org - 10/28/2015 - 20:21 - 0 comments
- Fraud Found At Kenya's Imperial Bank But Still Viable
The receiver for Kenya's privately owned Imperial Bank (IBL) found substantial fraud but the bank is still viable and shareholders are considering a proposal to inject capital, the central bank said on Tuesday. Imperial Bank was put into receivershi ...
Daily Headline - global.abi.org - 10/27/2015 - 20:47 - 0 comments
- South Africa's Evraz To Defend Its Rescue Against Parent In Court
protection from creditors. The steelmaker in July issued notices to around 1,000 employees, nearly half its ...
Daily Headline - global.abi.org - 10/25/2015 - 21:56 - 0 comments
- Kenya Central Bank Will Offer "Adequate Liquidity" After Imperial Bank Case
"does not present a systemic concern for the sector", noting the lender represented just 1 ...
Daily Headline - global.abi.org - 10/14/2015 - 21:14 - 0 comments
- African Reliance on Foreign Debt is ‘Madness,’ Warns Credit Suisse CEO Tidjane Thiam
Credit Suisse Group AG Chief Executive Tidjane Thiam says it is “madness” for African nations to rely on loans in foreign currencies to fund vital infrastructure including roads, power and clean water, The Wall Street Journal reported. Lenders in Afr ...
Daily Headline - global.abi.org - 10/06/2015 - 20:54 - 0 comments
- Rattled by JPMorgan Exit, Nigerian Bonds Now Face Downgrade Risk
As if being kicked out of one of the world’s biggest emerging-market bond indexes isn’t enough, Nigeria now faces the risk of its credit rating falling further into junk, Bloomberg News reported today. Standard & Poor’s, which rates Africa’s largest ...
Daily Headline - abi_admin - 09/14/2015 - 11:30 - 0 comments
- South Africa’s Central Bank Chief Rules Out Defence Of Rand
South Africa’s central bank governor has given warning about emerging market turbulence if volatility over the Chinese economy continues, but has ruled out any intervention to prop up a weak rand. The South African Reserve Bank (Sarb) surprised analysts ...
Daily Headline - global.abi.org - 08/26/2015 - 19:40 - 0 comments
- Emerging Markets Hit Hard as Global Rout Continues
Bad news from China has sparked a firestorm in the developing countries that feed its vast industrial machine, leaving a swath of economies with few good ways to escape a crunch, The Wall Street Journal reported. In Indonesia, coal once bound for Chi ...
Daily Headline - global.abi.org - 08/24/2015 - 20:43 - 0 comments