Karin's Feed
Feb 26, 2015

Nigeria’s opposition will not tolerate any more vote delays -Buhari

LONDON, Feb 26 (Reuters) – Any further delays to Nigeria’s
election would be unacceptable and the opposition will take the
government to court if the election commission chief is forced
out, presidential candidate Muhammadu Buhari said on Thursday.

The vote pits incumbent Goodluck Jonathan of the PDP against
former military ruler Buhari of the All Progressives Congress
(APC) in the most hotly contested election since the end of
military rule in 1999.

Feb 26, 2015

Nigeria opposition will not tolerate more election delays: Buhari

LONDON (Reuters) – Further delays to Nigeria’s election are unacceptable and the opposition will take the government to court if the election commission chief is forced out, presidential candidate Muhammadu Buhari said on Thursday.

The vote in Africa’s largest economy pits incumbent Goodluck Jonathan of the PDP against former military ruler Buhari of the All Progressives Congress (APC) in the most hotly contested election since the end of military rule in 1999.

Feb 25, 2015

Chinese data, Fed lift emerging currencies

LONDON, Feb 25 (Reuters) – Emerging currencies strengthened
versus the dollar on Wednesday and shares rose to 12-week highs,
lifted by forecast-beating Chinese factory data and the Federal
Reserve signalling it was in no rush to hike interest rates.

Activity in China’s factory sector edged up to a four-month
high in February, while comments from Fed chair Janet Yellen
stressing flexibility on interest rate decisions gave solace to
investors concerned about the bank hiking in June.

Feb 24, 2015

Sierra Leone hopes for economic bounce post-Ebola

LONDON (Reuters) – Sierra Leone could see growth rebound to double digits over the next 3-5 years as it emerges from the Ebola crisis and plans to tap its diaspora to raise funds for development, its foreign minister said.

The west African country’s economy was ravaged by the recent year-long outbreak of the Ebola virus that killed more than 9,000 people across Sierra Leone, Guinea and Liberia. Its key mining and agricultural sectors were decimated and local trade and international transport ground to a halt.

Feb 20, 2015

Emerging stocks head for weekly loss on Ukraine, Greece

LONDON, Feb 20 (Reuters) – Emerging equities were poised to
end the week in the red on Friday and most currencies weakened,
pressured by jitters over Greece’s future in the euro zone, the
Ukraine crisis and a stronger dollar.

Euro zone finance ministers were set to meet at 1400 GMT to
debate an extension to Greece’s loan agreement.

Feb 18, 2015

Russian assets rise, but more pain for Ukraine

LONDON, Feb 18 (Reuters) – Ukrainian dollar bonds suffered
steep losses on Wednesday while Russian assets rose as Ukrainian
forces started to pull out of the key eastern town of
Debaltseve, besieged by pro-Moscow separatists.

Ukraine five-year credit default swaps (CDS) soared by 985
basis points to 3,669 bps, according to Markit, while its dollar
bond yield spreads over U.S. Treasuries jumped 29 basis points
to a record high of 3,038 on the EMBI Global index.

Feb 16, 2015

Low debt, light payments add lustre to Nigeria’s dollar bonds

LONDON, Feb 13 (Reuters) – Nigeria’s dollar bonds have been
battered by tumbling oil prices and domestic politics, but
thanks to low debt ratios, a light repayment schedule and demand
from local banks they should weather the storm.

Pressure on the continent’s largest economy, which relies on
oil exports for 70 percent of government revenues, is rising,
with last year’s oil price collapse compounded by the
postponement of a presidential election scheduled for Feb 14.

Feb 11, 2015

Markets price in more pain for Nigerian naira

LONDON, Feb 11 (Reuters) – Nigeria’s naira fell against the
dollar for the eighth day in a row on Wednesday, the longest
losing streak since the 1998 Russian crisis, and derivatives
market pricing shows no sign of a turn on the horizon.

Pressure on the currency of Africa’s largest economy began
with last year’s oil price collapse and has been compounded by
the weekend announcement that a hotly contested presidential
election would be postponed by six weeks to March 28.

Feb 3, 2015

Oil bounce boosts Russia, Gulf; lira rises after inflation data

LONDON, Feb 3 (Reuters) – Turkey’s lira firmed on Tuesday
after above-forecast inflation appeared to rule out an emergency
interest rate cut, while Russian and Gulf assets drew support
from rallying oil prices.

The lira rose 0.45 percent against the dollar, after
wilting to record lows in recent days on fears the central bank
was coming under rising pressure from President Tayyip Erdogan
to cut interest rates.

Jan 19, 2015

Egypt to issue $1.5 billion Eurobond in April: Finance Ministry

LONDON (Reuters) – Egypt plans to issue a $1.5 billion Eurobond in April and hopes to return regularly to international capital markets in years to come as it tries to rebuild the country’s battered finances, a finance ministry official said on Monday.

The dollar-denominated issue is likely to be split, said Hanan Salem, first deputy minister for economic and financial policies at Egypt’s Ministry of Finance.