• Presidential by-election on 20 January will be a key near-term focus
• Discussions on mining tax royalties and VAT refunds are likely to be deferred until after the election
• ZMW may come under pressure as yields decline
• Constitutional referendum, elections make politics a key focus in 2015
• Donors postpone budget support; budget deficit likely to widen
• USD-TZS upside pressure seen, despite capital-account liberalisation
• Uganda will benefit from a lower import bill, but some oil exploration may be deferred
• Government spending likely to increase ahead of 2016 elections
• BoU seen tightening interest policy in 2015 in response to pressure on the UGX
• Ramped-up infrastructure spending is expected to boost growth in 2015
• SOE debt is rising rapidly
• We still expect the authorities to devalue the SLL.
• Growth is likely to pick up but remain modest
• Fiscal consolidation should remain a key objective
• Senegal benefits from lower commodity prices
• Infrastructure and mining-sector investment will help to drive growth of 4.9% in 2015
• Downside risks remain from lower commodity prices and a weaker ZAR
• Following a clear election victory for SWAPO in December 2014, the political outlook rem...
• Growth outlook remains strong
• Some fiscal consolidation is expected, but the deficit is likely to remain high
• Frelimo wins the election, but loses ground
• Diversification of trading partners and tourist arrivals away from Europe is supporting growth
• Inflationary pressures will likely remain subdued in 2015 with lower commodity prices
• The BoM will likely look to start tightening interest rates ...
• In the absence of an IMF deal, meeting external financing requirements may be more difficult
• Plans for faster fiscal consolidation have been unveiled; spending will be closely scrutinised
• Inflation is likely to rise faster in H1; the Bank of...
• Tourism sector expected to be hit hard by Ebola fears but agricultural output may improve
• Ongoing fiscal reforms will likely help narrow fiscal deficit
• Debt overhang likely to constrain monetary policy, currency pressure to continue
If this is a public computer please consider checking this box carefully.
Please access our research via your Straight2Bank account
Digital technology is transforming the economy and society. Adoption, not invention, has the most economic impact. Technology can lift developed countries if they embrace change. New technologies offer more opportunities than challenges for emerging markets.
About Standard Chartered
Group investor relations
Group media centre
WB media centre
Copyright © 2015 Standard Chartered Bank