Monday, 23rd September 2019


Articles related to economy

South African rand flat as central bank seen holding key rate

South Africa’s rand was little changed on Thursday, ahead of the central bank’s monetary policy decision later in the day where economists expect it to keep the key rate unchanged.

* The rand was trading at 14.6900 versus the U.S. dollar at 0625 GMT, less than 0.1% stronger than its previous close.

* The South African Reserve Bank (SARB) was seen…

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IMF sees Namibia growing in 2020 after three-year contraction

Namibia’s economy will return to growth in 2020 after contracting for three straight years, but a failure to implement structural reforms could keep the southwest African nation stuck in a low-growth trap, according to the International Monetary Fund.

The economy of the world's largest marine-diamond producer has been hit by a regional drought and…

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South Africa's investment-grade rating depends on pace of reforms - Moody's

Ratings firm Moody’s said on Tuesday fiscal risks and political constraints to economic reform in South Africa were reflected in its current credit rating one notch above speculative grade but that maintaining the level depended on how quickly President Cyril Ramaphosa’s government can implement promised reforms.

The agency is the last of the top…

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World Bank lifts aid embargo, approves $450 million loan for Tanzania

The World Bank has approved a $450 million loan to Tanzania, the bank said on Friday, signalling the release of the first tranche of funds to the East African nation that were frozen last year because of concern over government policies.

Those concerns included passing a law that made it illegal to question official statistics and expelling…

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South Africa's rand starts week on the front foot

South Africa’s rand strengthened against the dollar on Monday, with momentum reignited by upbeat remarks from the U.S. Federal Reserve chairman and a Chinese economic stimulus package.

At 0734 GMT the rand was 0.34% firmer at 14.7700 per dollar from an overnight close of 14.8200.

Fed Chair Jerome Powell said on Friday in Zurich the central bank…

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