Africa May Ignore IMF Rate Call

IMF calls for fast-growing frontier African economies to start tightening monetary and fiscal policy are likely to fall on deaf ears as governments and central banks across the continent focus for now on economic growth.

The pressure to achieve growth is likely to be particularly acute in countries such as Nigeria, Zambia and Uganda that face elections next year.

While inflation concerns may gradually increase in some African nations, early rate hikes would go against many central banks' drive to get street banks to lower their lending rates.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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