To paraphrase Mark Twain, the reports of the death of EM bond markets have been greatly exaggerated. Increased global allocations to local EM bond markets have been not cyclical but primarily structural in nature, reflecting these markets’ rising ec...
• Growth momentum in Sub-Saharan Africa remains largely positive, despite uncertainty related to Fed tapering expectations and slowing trend growth in China
• African economies will not be impacted uniformly by a reduction in QE. More liquid marke...
• Prospects in the Sub-Saharan African region remain largely positive, despite uncertainty related to market expectations of Fed tapering, and a slowdown in China’s growth trend to more sustainable levels.
• South Africa is more susceptible to glob...
• Tanzania’s GDP growth has exceeded Sub-Saharan Africa’s on average over the past two decades
• Activity has accelerated in the past decade, driven by reform, rising investment in mining and ODA flows
• Significant demographic growth, vast agricu...
Significant energy-sector developments, continued investment in agriculture and infrastructure will support growth
• Current account deficit to remain in double digits as a % of GDP, but regulatory action will keep TZS stable
• With elections next...
• Discovery of offshore gas drives interest in the Tanzanian economy
• Healthy economic growth to continue, trending higher than regional peers
• Addressing the infrastructure deficit, especially in the power sector, is still key
• Despite IMF downgrades to global growth forecasts, real GDP in Sub-Saharan Africa should average around 5% in 2012. Africa continues to present a diverse picture: initially investor concerns centred on the impact of the slowdown in Europe; they no...
Local-currency emerging bond markets have seen ever greater levels of foreign demand as global investors flee from the ongoing European sovereign crisis and continue to allocate to fixed income securities. From less than USD 150bn in March 2009, for...
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The world economy is in transition. Global growth rates are picking up, but transition means elevated risks and volatility.
In terms of global implications, all eyes will be on the US and China, with the US normalising monetary policy and China rebalancing its economy.
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