RaboResearch - Economic Research

Country Report

Country Report Botswana

As Botswana is heading for elections, more is likely to stay the same. The same party will continue to rule (since 1966), and the country remains overly dependent on diamonds.

Country Report

Country Report Angola

Stagnating oil production lowered economic growth in 2013, highlighting Angola’s dependence on the energy sector. The political scene was dominated by a succession debate.

Country Report

Country Report Ghana

Economic growth in Ghana has fallen somewhat, but is likely to remain relatively high. However, high twin deficits leave the country vulnerable to a deterioration of external conditions.

Country Report

Country Report Ethiopia

Ethiopia continues to record robust growth. However, the state-led development model is con-straining the private sector and has resulted, from time to time, in macroeconomic imbalances, and therefore seems unsustainable in the long term.

Country Report

Country Report Nigeria

After a rebasing exercise, Nigeria became the largest economy of Africa. However, this does not reduce Nigeria’s large structural issues, and instability and violence could worsen ahead of elections in 2015.

Country Report

Country Report South Africa

After a highly difficult 2013, in which domestic and global developments exposed South Africa’s vulnerabilities, ANC’s victory in May’s elections should improve policy and economic perspectives.

Country Report

Country Report Tanzania

Bright prospects for the energy sector in Tanzania bode well for the already robust economic growth and gave the country access to international debt markets in 2013.

Country Report

Country Report Kazakhstan

Kazakhstan had a less fortunate economic year in 2013, as weak exports led to a twin deficit and economic growth, though picking up, was driven by unsustainable consumer borrowing.

Country Report

Country Report Rwanda

In 2013, temporary aid suspensions had significant economic repercussions for Rwanda. On the positive side, this triggered Rwanda to search for ways to reduce its aid dependency.

Country Report

Country Report Cameroon

In 2012, the economic performance of Cameroon improved on the back of the oil sector, while the political risks persisted, despite milestones having been achieved.

Country Report

Country Report Zambia

Zambia’s reliance on copper exports takes its toll on its external positions, while populist measures and political tensions could make matters worse.

Country Report

Country Report Algeria

Algeria’s hydrocarbon-based economy is facing rising competition from the recent shale gas boom in the US, but thanks to ample fiscal reserves, the impact on the country has been limited so far. Its social climate will likely remain stable, even if President Bouteflika should be re-elected next year.

Country Report

Country Report Ghana

Ghana sees robust economic growth on the back of the nascent oil sector, but the lack of fiscal discipline raises concerns about future debt sustainability and increasing vulnerabilities.