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Browsing: economic outlook
Kenya’s Eurobond will positively impact the exchange, inflation, and interest rates. Diamond Trust Bank revealed that Kenya’s $1.5 billion Eurobond…
The continent in the near future will have the largest population in the world. The population of Africa is urbanizing as citizens of the nations of the continent migrate from rural to urban areas.
This addition to its vast natural resources is a potent combination for its rapid economic expansion. The world witnessed first-hand the economic miracle where China transformed itself from a rural backwater in 1949 when the modern Chinese state was founded to an economic and military superpower by 2019. The year 2019 is significant to China because the country celebrated 70 years of its founding as a communist state, and the Asian country gained worldwide recognition as a military superpower.
China put on a military parade that displayed a weapons arsenal that made the United States sit up and take notice. How was this possible? China’s economic transformation was because of several factors. One of the most important factors was and remains the rapid urbanization of its population, driven by the migration of millions of Chinese citizens from the rural areas to the booming metropolises. This urbanization increased the demand for natural resources and commodities needed to construct cities, roads, and infrastructure needed to support a rapidly expanding economy.
This comes as the IMF has downgraded economic prospects for countries in this cluster. The downgrades have, however, been offset relatively by projections for some commodity producers and exporters that were upgraded on the back of rising commodity prices.
The economic prospects between wealthy nations and low-income countries are expected to be divergent and this divergence will remain of great concern to multilateral lenders and world leaders. In wealthy nations, for example, aggregate output for the cluster economies is expected to regain its pre-pandemic trend path in 2022 and exceed it by 0.9% in 2024 whereas the cluster of nations comprise emerging markets and developing economies (excluding China) will remain 5.5% below their pre-pandemic forecasts in 2024.
This event should it occur as forecast will set back improvements in living standards.
In Sub Saharan Africa, growth is expected to rebound by 2.3 per cent in 2021 and 3.1 percent in 2022…
Analysts at the African Trade Insurance Agency (ATI) annual roundtable noted that Africa is expected to see a subdued economic…
Growth in West Africa which was seen to expand by 4.0 per cent in 2020 is now projected to contract…