Africa
Fed taper could hit African sovereign credits hard, World Bank warns
Cross-continent trade agreement could help provide bigger markets and greater efficiencies, but African economies face tough times ahead with borrowing costs set to rise
South-South development co-operation in transformation
China's approach in South-South development co-operation focuses on using ‘what China owns and knows best' by combining trade, investment and development co-operation
Chinese outward direct investment: overtaking other EMEs
With China’s labour costs rising rapidly, enterprises are facing pressure to seek out low-cost locations – they either have to move westwards seek new opportunities in the global economy
WEF panel in Africa values sound public policy over money
Outgoing African Development Bank president Donald Kaberuka says good policy crucial to development; World Bank vice-president Makhtar Diop says financing costs unfairly high
Central banks face weight of expectations in sub-Saharan Africa
The art of central banking has changed dramatically in frontier markets. Monetary policy, financial regulation, capital flows and exchange rate are now centre stage, writes Louis Kasekende
Banque de France paper tackles ‘elasticity of poverty’
Researchers examine the extent to which growth in different sectors translates into a reduction in poverty for countries in Africa; commodity-driven economies particularly bad for the poor
Book notes: Emerging Africa, by Kingsley Moghalu
Sub-Saharan Africa is no basket case, but neither is it poised to follow China and India on their meteoric economic rise, Kingsley Moghalu argues in his forthright book
Lower productivity behind growth slowdown in African middle-income countries, IMF paper finds
Slowdown in total factor productivity 'largely responsible' for weaker growth in small middle-income African economies, authors argue
Mauritius reappoints former governor
Rameswurlall Basant Roi returns after eight years following the reported ousting of Rundheersing Bheenick in December; new deputy also appointed
Mobile money accounts trump number of adults in Kenya, IMF data show
African bank depositors increased five-fold between 2004 and 2013, IMF's fifth annual Financial Access Survey shows; includes data on mobile money for first time
Reserve Bank of Zimbabwe sets up ‘bad bank'
'Bad bank' will assume a growing number of NPLs from troubled lenders; NPLs in Zimbabwe amounted to 18.5% of banks' assets in June, according to central bank
Southern African economies appear to be converging
Bank of Botswana economists find SADC countries are moving in the same direction, but probably more by accident than by design
Malaysian deputy promotes Islamic finance as means of channelling funds to SMEs
Muhammad bin Ibrahim tells African policy-makers to ‘start where it matters most’ and promote Islamic financial products that assist low income groups and SMEs
PBoC launches $2 billion Africa investment fund
The People’s Bank of China will provide $200 million each year for a decade to finance development projects in Africa, as governor Zhou Xiaochuan criticises past investment deals
Paul Collier on central bank leadership, flawed policy and SWFs in Africa
More African central banks are moving towards inflation targeting, but Paul Collier tells Tom Bowker they should not mindlessly follow Western policy and may need to live with volatile inflation.
Mutebile says African central banks should adopt inflation targets
Bank of Uganda and International Monetary Fund encourage central banks in Sub-Saharan Africa to transition to more ‘modern’ monetary policy frameworks
Bank of Zambia tries to talk down forex market ‘panic'
Bank of Zambia aims to arrest ‘panic' in foreign exchange market amid reversal of portfolio flows; hiked reserve ratio requirement on Monday in attempt to strengthen currency
Governors grapple with regulatory implications of African mobile money growth
African central bank heads agree to develop comparative surveys of mobile money regulation, as mobile banking takes off
Nigerian deputy says investment, not aid, will lead Africa to prosperity
Kingsley Moghalu, head of financial stability at the Central Bank of Nigeria, calls for ‘nationally defined' growth strategy and the ‘political will' to realise it
Lagarde warns of single currency ‘challenge’ in East Africa
IMF managing director Christine Lagarde tells the East African Community to learn from the genesis of other monetary unions across the globe
African central banks need to brace for Fed tapering, says Ghana's Opata
African central banks should consider raising FX reserves to cover potential reserves losses and stress in domestic fixed income markets from Fed tapering, says Bank of Ghana official
Deploying ‘leapfrog' tech in Africa is no easy task, finds CBP Forum
Delegates and speakers debate technology outsourcing, data, staffing, project management and international co-operation at inaugural Central Banking Technology Forum
Central Bank of Liberia deputy governor dies aged 60
Theophilus Bettie, deputy governor for economic policy at the Central Bank of Liberia, passed away while attending a conference in Lagos, Nigeria last week
Africa leads growth in financial inclusion, finds IMF study
Most comprehensive financial inclusion data set to date highlights rapid expansion of financial access in Africa; emphasises close links between growth and SMEs' access to finance