DOCSLIB.ORG

W Danger: Ballooning World Debt

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
W Danger: Ballooning World Debt DJIA -0.73% S&P500 -0.77% NASDAQ 0.22% IPC 2.73% FTSE100 0.56% DAX 0.46% CAC40 2.15% MSCI WORLD WORLD INDEX MARKET S 0.42% ▲ One stop-shop for market Ledership is Language by Black Sea, Eurasia & SEE watchers L.David Marquet Countries in the Spotlight See at a glance the weekly performance of major A radical new book for empowering your Politics, Economy, Business, Capital stock indices of world stock markets across six team to make better decision and take greater Markets, Opinion, Analysis, News continents. p.2 &15 ownership p.05 & Data p.10-11 This Week’s Matter WORLD: DEBT to soar to $277t by year end RUSSIA Putin ready to work with any US leader Russian President Vladimir Putin has revealed that he was ready to work with any US leader. "We will work with anyone who has the trust of the American people," Putin was quoted as saying on Russian state TV on Sunday. “But that confidence can only be given to a candidate whose victory has been recognized by the opposing party, or after the results are con - firmed in a legitimate, legal way.” That follows previous Kremlin comment that it would wait for the official results of the U.S. Danger: presidential election before com - menting on its outcome. Ballooning world debt USA orld debt is expected to soar nearly half of the increase. previous four years.” to a new high of $277 trillion Developed markets’ overall debt So who will pay all this debt? If for by the end of the year as gov - jumped to 432% of GDP in Q3 2020, some reason governments manage to W ernments and companies from a ratio of about 380% at the end keep on kicking these debts ever fur - continue to spend in response to the of 2019. The United States accounted ther down the road, as they tend to COVID-19, the Institute of Interna - for almost half of this rise. Emerging do, it will still be us, our children and tional Finance said in a report on market debt-to-GDP hit over 248%, grandchildren that pay the price. Wednesday. with Lebanon, China, Malaysia and To simplify, it looks like someone This would represent a debt-to-GDP Turkey experiencing the biggest rises had an expensive dinner at a fancy ratio of 365%.The Institute, whose in non-financial-sector debt. restaurant (before Covid 19) and left Sen.Ted Cruz members include over 400 banks and “The pace of global debt accumula - the bill unpaid. on free speech and financial institutions across the globe, tion has been unprecedented since said the economic consequences of 2016, increasing by over $52 trillion,” "Sharply declining democracy “Increasingly, we’re seeing free the coronavirus have caused an in - the IIF said. revenues have made speech rights vilified by the intolerant crease in world debt by $15 trillion “While some $15 trillion of this surge debt service much Left. Today’s Democrat Party has be - since the end of last year, setting a new has been recorded in 2020 amid the more onerous for EM come so radicalized, it perceives any record of over $272 trillion in the Q3 Covid-19 pandemic, the debt build-up speech with which it disagrees as of 2020. Governments - mostly from over the past four years has far out - governments despite “hate speech.” That’s wrong & dan - developed markets-accounted for stripped the $6 trillion rise over the low borrowing costs" gerous to our country’s democracy.” 2.P WORLD MARKETS DASHBOARD 2.15 % -0.73 % -0.77 % 0.22 % 0.56 % 1.26 % 3.20 % 2.73 % 0.46 % 2.06 % INDICES CAC40 DJIA S&P500 NASDAQ FTSE100 BOVESPA MERVAL IPC DAX TSXCOMP One stop-shop for Market Watchers ( pages 02 & 15 ) See at a glance the weekly performance of main indices of world stock markets. All figures refer to the performance during Nov. 16- 20, 2020 (weekly % change). World Markets undertakes all reason - able efforts to ensure the data included in this section was correct at the time of publication. For corrections send an email at: [email protected] EUROPE 1. AUSTRIA ATX 3.83% 2. BELGIUM BEL20 1.74% 3. BULGARIA SOFIX 0.18% 4. CROATIA CROBEX 2.87% 5. CYPRUS CYMAIN 10.05% 6. CZECH REPUBLIC PX 3.36% 7. DENMARK OMXC20 0.69% 8. ESTONIA OMX TR 0.78% 9. FRANCE CAC40 2.15% 10.GERMANY DAX 0.46% 11.GREECE ATHEX AGD 6.68% 12.HUNGARY BUX 2.33% 13.ITALY FTSE MIB 3.84% 14.LITHUANIA OMX V 1.81% 15.NETHERLANDS AEX 0.80% 16.NORWAY OBX 1.94% AMERICAS 17.POLAND WIG20 4.08% 1. ARGENTINA: MERVAL 3.20% 18.PORTUGAL PSI20 1. 30 % 2. BRAZIL: BOVESPA 1.26% 19.ROMANIA BET 0.85% 3. CANADA:TSX COMP 2.06% 20.RUSSIA MOEX 7.62% 4. CHILE: IPSA 1.23% 21.SLOVAKIA SAX -0.71% 22.SLOVENIA SBITOP 2.22% 5. COLOMBIA: COLCAP 2.47% 23.SPAIN IBEX35 2.49% 6. JAMAICA: JSE COMP 2.7 8% 24.SWEDEN OMXS30 1.54 % 7. MEXICO:IPC 2.73% 25.SWITZERLAND SMI 0.03% 8. PERU: S&P LIMA GENERAL 2.80% 25.UK FTSE100 0.56% 9. VENEZUELA IBC 0.93% 10.USA: S&P 500 -0.77% 11.USA: DJIA -0.73% 12.USA:NASDAQ 0.22% BRAZIL - Sao Paulo ( B3 ) CZECH REPUBLIC - Prague ( PSE ) Solid financial performance in Q3 PX at almost four-month high On Nov 12, B3 reported its third high volumes on our platforms con - The Prague Stock Exchange ever, the PX decreased 182 points quarter 2020 earnings. Total revenues tributed to a solid financial perform - (PSE) grew for the sixth straight or 16.17% since the beginning of reached R$2,535.5 million, a 48.6% ance and strong cash generation in the session on Nov 16, with the PX 2020. PSE is the largest and old - increase over the same period of the third quarter. Revenue growth com - index adding 2.55 percent to an est organizer of the securities previous year(3Q19), while recurring bined with disciplined expense man - almost four-month high of 934.75 market in the Czech Republic. EBITDA totaled R$1,665.7 million, agement resulted in higher margins, points. The last time the PX index The stock exchange’s activities up by 50.1% year-over-year. The reflecting our operational leverage” was this high was on July 22. and capital market operation are company’s recurring net income to - Chief Financial and Investor Rela - The PSE’s growth was driven by supervised by the Czech National taled R$1,143.2 million. “Sustained tions Officer, Daniel Sonder said. strengthening bank listings. How - Bank. P.2 16-22 Nov. WORLD MARKETS WEEKLY IN FOCUS P. 3 Brent crude futures and WTI crude futures gained about 5% this week enjoying a third consecutive OIL gains, GOLD week of gains. Spot gold dropped 0.8% this week booking a second week of losses. remains depressed Oil prices moved up this week helped by hopes that OPEC+ would delay by at least three months from January a planned crude output increase. How - 20 /11 /2020 20/11 /2020 20 /11 / 2020 ever, investors continued to worry about fuel demand as several countries moved to impose fresh restrictions. Gold remained depressed by the grid - lock in Washington. from the Editor RED GREEN VIE W World Markets or Elite Markets PPS EQUITY from now on? fter a rally and strong sector ro - Europeans have just under €9.5 tation equities consolidated this trillion at their disposal in 2020. A record $44.5 was moved into week. The sentiment in the A Per capita purchasing power global equity funds for the Mark O'Hare markets swayed between risk- week ending last Wednesday, Preqin founder & CEO on and risk-off reflecting the uncer - (PPS) shows a nominal decline of almost 5.3% in 2020 com - according to BofA Research tainty of world economic growth citing data from EPFR. U.S. following ever-growing restrictions, pared to last year's revised value, according to a GfK study. equity funds saw their second- Alternatives lockdowns and social distancing largest inflow ever with $32.5 measures in major economies. The fa - miliar tug-of-war between longer- TOURISM assets to hit term optimism and shorter-term REAL ESTATE pessimism continued. Vac - $1 7tn by 2025 cine and virus updates were once again in the driver’s Brazilian tourism lost R$41.6 UM growth in alternative seat. Asian equities received (US$7.6) billion between the U.S. home sales hit a 14-year assets will average 9.8% per a boost after 15 countries in months of March and Septem - high in October, rising 26.6% Ayear to 2025, to hit $17 trillion, the region signed the ber 2020. The figure represents from a year ago, the National according to the latest research by Kyriaki world’s largest free-trade Balkoudi a 44% drop in revenues com - Association of Realtors (NAR) London-based Preqin, the alterna - Editor agreement. All major stock pared to the same period last unveiled on Thursday. On a tives research and data provider. markets in Europe were year, according to Fecomer - monthly level, the figure in - Private equity will double to higher but US major indices ended cioSP. creased by 4.3%. $9.11 trillion and Asia will be a mixed. Federal Reserve Bank of “huge driver”. Cleveland President Loretta Mester “We expect private equity’s share stated on Thursday that data is show - BUSINESS SHIPPING of alternatives AUM to rise from ing signs of an 41 per cent to around 53 per cent, economic slowdown.
Load more

Recommended publications
  • An Affiliate of Aljazirah Nigeria Newspapers
    الجزير نيجيريا ةالجزير نيجيريا ة ...first in breaking the news www.aljazirahnews.com Vol. 2 No. 187 JULY NIGERIA N200 26 – August 1, 2021 MULTIPLE TAXATION Citizens Bleed As FCT engages touts to extort individuals PAGES 9 – 10 X-raying BPE’s Quest For Privatization PAGE 11 Demonized N1.5trn NAFDAC Explains Foods That Are Intervention In Why Herbal Medicine Re-visiting One Actually Good Power Sector: Firms Not Approved For Horrific Night Unable To Deliver In Igangan PAGE 31 PAGE For You 14 PAGE PAGE 22 COVID-19 PAGE 28 EDITORIAL Igboho’s Arrest And The Yoruba Nation hief Sunday Adeyemo aka Sunday Igboho was some Yoruba youths and Fulani in the community where arguably an unknown personality outside the properties were reportedly destroyed. Southwest sub-region not until mid-January. Igboho also visited Ogun State and vowed to evict He and his supporters took the battle to end herdsmen in the South-west, following the insecurity rocking the spate of insecurity by killer herdsmen in the the region. SouthwestC rather frontally. He then became a chief promoter of a Yoruba agenda of He stormed the Fulani community in Igangan, Ibarapa defending its land from the incursion of killer herders who Local Council of Oyo State to issue a seven-day notice to kill, maim and abduct farmers. herdsmen to quit insecurity or vacate the community and After holding a series of rallies in some southwest states, all other Yoruba communities or be forced to do so. he met stiff resistance against any rally in Lagos. Despite warning by Governor Seyi Makinde against
    [Show full text]
  • Money and Politics in Nigeria
    Money and Politics in Nigeria Edited by Victor A.O. Adetula Department for International DFID Development International Foundation for Electoral System IFES-Nigeria No 14 Tennessee Crescent Off Panama Street, Maitama, Abuja Nigeria Tel: 234-09-413-5907/6293 Fax: 234-09-413-6294 © IFES-Nigeria 2008 This publication is in copyright. Subject to statutory exception and to the provisions of relevant collective licensing agreements, no reproduction of any part may take place without the written permission of International Foundation for Electoral System First published 2008 Printed in Abuja-Nigeria by: Petra Digital Press, Plot 1275, Nkwere Street, Off Muhammadu Buhari Way Area 11, Garki. P.O. Box 11088, Garki, Abuja. Tel: 09-3145618, 08033326700, 08054222484 ISBN: 978-978-086-544-3 This book was made possible by funding from the UK Department for International Development (DfID). The opinions expressed in this book are those of the individual authors and do not necessarily reflect the views of IFES-Nigeria or DfID. ii Table of Contents Acknowledgements v IFES in Nigeria vii Tables and Figures ix Abbreviations and Acronyms xi Preface xv Introduction - Money and Politics in Nigeria: an Overview -Victor A.O. Adetula xxvii Chapter 1- Political Money and Corruption: Limiting Corruption in Political Finance - Marcin Walecki 1 Chapter 2 - Electoral Act 2006, Civil Society Engagement and the Prospect of Political Finance Reform in Nigeria - Victor A.O. Adetula 13 Chapter 3 - Funding of Political Parties and Candidates in Nigeria: Analysis of the Past and Present - Ezekiel M. Adeyi 29 Chapter 4 - The Role of INEC, ICPC and EFCC in Combating Political Corruption - Remi E.
    [Show full text]
  • Jonathan to Aliyu: You're a Pathetic Fellow Who Lies to Remain Relevant
    NCAA Approves Commercial Flight Operations at Bayelsa Airport It's a dream come true, says Governor Diri Chinedu Eze on Saturday to commence House, Yenagoa, after a for daytime flight operations. to the visit had certified that Musa said the agency had commercial flight operations. NCAA team had completed The governor's Chief Press out of 29 gaps, the airport to limit flight operations to After months of expectation, NCAA Director-general, Dr. the mandatory inspection of Secretary, Mr. Daniel Alabrah, was able to close 26. He noted daytime, as the runway lights the Bayelsa State Government- Nuhu Musa, presented the the airport and its facilities. quoted the NCAA DG as that other requirements were were still being installed, owned airport finally received regulatory body's approval Musa said the airport met saying the approval was sequel non-safety related and work stating that once completed, the nod of the Nigerian Civil letter to an elated Governor all airspace standards and was to the report of the agency’s was already in progress to Aviation Authority (NCAA) Douye Diri at Government one hundred per cent ready inspection team, which prior achieve night flight operations. Continued on page 10 1,081,548 Nigerians Receive Astrazeneca Vaccine Jabs… Page 8 Sunday 18 April, 2021 Vol 26. No 9506 www.thisdaylive.com T N400 RU N TH & REASO Akpabio: NDDC Forensic Audit Ends July Okon Bassey in Uyo Minister of Niger Delta Affairs, Senator Godswill Akpabio, has set July ending 2021 as deadline for conclusion LONELY QUEEN ELIZABETH... of the forensic
    [Show full text]
  • A Wobbly Upturn …Traversing Uncertain Paths
    A Wobbly Upturn …Traversing Uncertain Paths 1 | Meristem Research 2021 Half Year Outlook A Wobbly Upturn …Traversing Uncertain Paths Content Highlights Executive Summary……………………………………………………………………….…5 Global Economy & Market.………………………………………………………………7 Uneven recovery across board Coming into the year, we premised our positive outlook for the global economy on wide-spread resumption of economic activities due to rapid vaccination. So far, recovery has been uneven across regions as some countries were forced to reintroduce lockdowns, while others gradually eased strict measures. However, in many countries Monetary and Fiscal authorities have maintained a supportive posture, keeping policy parameters accommodative till “skies are clear”. Going forward, we still expect speedy vaccination to spur growth although the emergence of a Delta variant poses downside risk to our outlook Domestic Economy……………….………………………………………………………….19 Slow but Steady Economic Growth As witnessed in Q4:2020, the pace of economic growth in the first quarter of the year remained sluggish due mainly to low oil output. While the steady recovery points to the impacts of fiscal and monetary stimulation, key macro indicators like exchange rate, inflation and capital flows highlighted lingering domestic weaknesses. In the second half of the year, a key tailwind to growth would be the possible OPEC quota relaxation amid supportive oil prices. Domestic Equities Market …………………...………….……………………………. 32 Increase in Fixed Income Rates Turned Equities Fortune The improvement in fixed income yields triggered rotation of funds out of equities. Continued profit-taking across counters dragged the index performance even further into the negative territory. The buying pressure during earnings season turned out to be a dead cat bounce as the market soon reverted to its bearish-course.
    [Show full text]
  • Pan African Monitor
    Pan African Monitor Weekly Wrap & Outlook March 12, 2021 Anglophone West Africa Looking Forward Ghana • Nigeria CPI—16th Mar • The Ghanaian statistical service released its inflation estimates for February-2021 showing that headline consumer inflation spiked 40bps to West Africa 10.3% in February 2021. N igeria • To plug the deficit in its 2021 budget, Ghana will embark on a roadshow GDP 0.1% next week to raise $5.0bn in Eurobonds from the international capital Inflation 16.5% markets. • The Chamber of Bulk Oil Distributors (CBOD) has revealed that the MPR 11.5% government lost GHS 1.9bn ($33mn) to petroleum tax evasion in 2019. External Reserves ($) 34.7bn • In a State of the Nations Address (SONA) in parliament on Tuesday, the Ghana President of Ghana stated that he expects the GDP growth in 2021 to GDP -1.1% rebound by 5% y/y. Ghana’s growth was estimated at 0.9% in 2020, amid Covid-19 pandemic. Inflation 10.3% • The Bank of Ghana yesterday (11/03/2021), in a circular addressed to MPR 14.5% banks, specialized deposit-taking institutions and the public, reiterated External Reserves ($) 8.6bn the consequences of issuing dud cheques. Senegal Gambia GDP 0.7% • The Gambia's Central Bank issued a 91-day, 184-day, and 364-day Inflation 1.7% treasury bills( Sukuk-Al-Salaam Bills) to investors. Ivo ry C o ast • Stop rates closed at 5.3%, 2.09% and 5.3% for the 91-day, 184-day and GDP 0.7% 364-day bills, respectively. Inflation 2.3% Nigeria M ali • The Managing Director of the Nigeria Export-Import Bank (NEXIM Bank), GDP -0.7% Mr Aba Belllo, stated that the solid minerals sector would increasingly Inflation 2.5% realise the benefits of NEXIM’s intervention over the next few years.
    [Show full text]
  • Download Q2 2021 Newsletter
    Q2 2021 CFA SOCIETY NIGERIA NEWSLETTER WELCOME Dear Members, Looking ahead, I am pleased to inform you of our upcoming conference in Abuja focused on Environ- Once again, I am delighted to present the Q2 2021 Society update to you. The highlights of Q2 for the mental, Social and Governance (ESG) scheduled to hold in Q4 2021. As ESG issues ascends the priori- Society were the successful launch of our Quarterly Leadership Series which featured the Founder ty list globally, the conference is intended to be a call to action for all stakeholders by promoting of Guaranty Trust Bank, Fola Adeola, OFR; and the award of Most Outstanding Society (350-999 fairness, equity, and sustainability in the Investment industry in Nigeria. The line-up of speakers are members category) won by your Society in the 2021 Society Excellence Award of CFA Institute. the decision-makers and experts in the ESG Investing. The maiden Quarterly Leadership Series attracted unprecedented numbers viz: over 1,700 registra- During the election process, there was a demand for interest groups to address the areas of exper tions and 600+ attendees who joined the 90 minutes live session from around the world. This is the tise for our members, there was also an expression of the need to build communities to support our highest turnout of attendees in the history of our virtual programmes. We are looking forward to the members. Based on this feedback, we will be launching a Quarterly networking event in September 2nd series which will take place in the 3rd Quarter of the year, featuring the 14th Emir of Kano and the 2021 that will focus on the younger members of the Society.
    [Show full text]
  • Private Sector Development in Africa
    VISUAL SUMMARY INNOVATIVE FINANCE FOR PRIVATE SECTOR DEVELOPMENT IN AFRICA ECONOMIC REPORT ON AFRICA 2020 VISUAL SUMMARY INNOVATIVE FINANCE FOR PRIVATE SECTOR DEVELOPMENT IN AFRICA ECONOMIC REPORT ON AFRICA 2020 VisualVisual SummarySummary INNOVATIVEINNOVATIVE FINANCEFINANCE FORFOR PRIVATEPRIVATE SECTORSECTOR DEVELOPMENTDEVELOPMENT ININ AFRICAAFRICA ECONOMICECONOMIC REPORTREPORT ONON AFRICAAFRICA 20202020 Ordering information To order copies of this report, please contact: Publications Economic Commission for Africa P.O. Box 3001 Addis Ababa, Ethiopia Tel: +251 11 544-9900 Fax: +251 11 551-4416 E-mail: [email protected] Web: www.uneca.org © 2020 United Nations Addis Ababa, Ethiopia All rights reserved First printing December 2020 Title: Economic Report on Africa 2020: Innovative Finance for Private Sector Development in Africa Development in Africa Language: English Sales no.: E.20.II.K.2 ISBN: 978-92-1-125139-5 eISBN: 978-92-1-005124-8 Print ISSN: 2411-8346 eISSN: 2411-8354 Material in this publication may be freely quoted or reprinted. Acknowledgement is requested, together with a copy of the publication. The designations employed in this publication and the material presented in it do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations Economic Commission for Africa concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. Cover design: Carolina Rodriguez, Dilucidar. ii 2020 Economic Report on Africa | INNOVATIVE FINANCE FOR PRIVATE SECTOR DEVELOPMENT IN AFRICA CONTENTS Lists of Figures, Tables and Boxes . v FOREWORD . viii. ACKNOWLEDGEMENTS . xi ABBREVIATIONS . xiii . EXECUTIVE SUMMARY . .xvi . Recent economic developments .
    [Show full text]
  • United Capital Research | Daily Market Commentary
    United Capital Research | Daily Market Commentary Wednesday, May 5, 2021 The day in review Headline Level 1 day YTD 1 day MTD YTD P/E (x) Div. Yid. • Equities dipped 0.9% NSE ASI 39,433.8 -0.9% -2.1% Agriculture 0.0% 0.0% 6.3% 0.0 0.0% • Financial system liquidity remained tight Mkt. Cap (₦'bn) 20,637.5 -0.9% Banks -0.3% -0.3% -10.7% 3.3 10.0% • Flattish session in the NTB market Mkt. Cap ($'mn) 54,452.4 -0.9% Consumer 0.8% 0.8% -1.9% 118.9 3.9% • Naira gained 12bps at the I&E window Value (N'mn) 3,501.1 -24.8% Industrial -0.6% -0.6% -5.6% 17.9 4.8% Value ($'mn) 9.2 -24.8% Insurance -1.3% -1.3% 5.0% 4.0 4.7% Looking forward Volume 349.6 -18.0% Oil & Gas -0.7% -0.7% 18.8% na 5.5% Q1-2021 Terms of Trade Data - NBS Deals 4,554.0 Mkt. Avg. P/E 13.7 Mkt. Avg. Div. Yid 4.7% Market Breadth 1.4x *P/Es are based on the last twelve months trailing earnings Daily Insight *Dividend yields are based on past year dividend payments Domestic investors sustain dominance of local bourse T-Bills Yields Current Previous %Δ Technical Indicator of Market Position: Relative Strength Index (RSI) 3 months 3.05 3.05 0.00 100 Recently, the Nigerian Exchange Group (NGX) released the Overbought region 6 months 4.20 4.20 0.00 monthly Foreign Portfolio Investment Report for Mar-2021.
    [Show full text]
  • Stakeholders' Workshop on Operationalizing Sustainability & Circular Economy
    AfriKairos P r e s e n t s STAKEHOLDERS’ WORKSHOP ON OPERATIONALIZING SUSTAINABILITY & CIRCULAR ECONOMY: MEASURING, MONITORING, REPORTING, IMPACT INVESTING, ESG RATINGS. Chief Chris O. Okunowo, F.IoD Mr. Oscar Onyema, OON, F.IoD Dr. Ndidi Nnoli-Edozien President & Chairman, Governing Council Group Chief Executive Ocer, Partner, Afrikairos & Chair, Hon. Sam Egube IoD Nigeria Nigerian Exchange Group Plc Circular Economy Innovation Partnership, Honourable Commissioner, Economic Growing Businesses Group Planning and Budget, Lagos State. CHIEF HOST KEYNOTE ADDRESS MODERATOR HOST STATE KEYNOTE Patrick Kabuya Prof. Kenneth Amaeshi Dr. Dolapo Fasawe Senior Governance Specialist, President, Association of Sustainability Director General, World Bank Professionals (ASPN) Lagos State Environmental Protection Agency GOODWILL MESSAGE WAY FORWARD KEYNOTE ADDRESS Thursday, April 22, 2021 3pm - 7pm Registration: http://bit.ly/SustCirEco2021 CIRCULAR ECONOMY supported by... INNONATION PARTNERSHIP AfriKairos P r e s e n t s STAKEHOLDERS’ WORKSHOP ON OPERATIONALIZING SUSTAINABILITY & CIRCULAR ECONOMY: MEASURING, MONITORING, REPORTING, IMPACT INVESTING, ESG RATINGS. Chief Chris O. Okunowo, F.IoD Mr. Oscar Onyema, OON, F.IoD Patrick Kabuya Hon. Sam Egube Dr. Ndidi Nnoli-Edozien Partner, Afrikairos & Chair, President & Chairman, Governing Council Group Chief Executive Ocer, Senior Governance Specialist, Honourable Commissioner, Economic Circular Economy Innovation Partnership, IoD Nigeria Nigerian Exchange Group Plc World Bank Planning and Budget, Lagos State.
    [Show full text]
  • Nigeria Economic Outlook H2-2021
    Nigeria Outlook H2-2021: Walking a Slippery Slope Executive Summary Global Economy: Strong but uneven recovery 2021 was tagged the year of return to normalcy, and we highlighted that growth across countries would remain uneven due to differing wealth of nations. Large swathes of that forecast have proven to be right. The forecast that more affluent countries would recover stronger from the pandemic never appeared more accurate, thanks to the combination of accommodative fiscal and monetary policies. Although the global economy’s outlook appears greener, global expansion remains heavily dependent on successfully overcoming the Covid-19 health crisis, as the virus remains a threat. As of the time of writing, there have been 169,597,415 confirmed cases of COVID-19, including 3,530,582 deaths, as reported by the World Health Organisation (WHO). A 3rd wave of the pandemic, led by a new, more-infectious “Delta” variant, has emerged in various pockets of the globe, prompting the reintroduction of lockdowns. Furthermore, while the vaccination story has been largely positive, vaccination rates remain broadly uneven across regions. Despite 3.6 billion vaccine doses administered globally, only one in ten people in lower-income countries have received at least a dose of the vaccine. The rebound in global economic activity has triggered discussions of an overheating economy as inflationary pressures intensify. In June, the US inflation estimate printed at 5.4%, the highest pace of increase in 12 years, running ahead of the US Federal Reserve’s (US Fed) average inflation target of 2.0%. However, the US Fed has tagged these inflationary pressures as temporary effects of the economy reopening after pandemic- induced lockdowns.
    [Show full text]
  • The Nigerian Stock Exchange 2020 Market Review and 2021 Outlook
    Contents 1. Global Capital Market Review 2020__________________________________________________ 2 2. NSE Market Performance 2020 _____________________________________________________ 3 2.1. NSE Equity Market Review _____________________________________________________ 3 2.2. NSE Fixed Income Market Review _______________________________________________ 4 2.3. NSE ETF Market Review _______________________________________________________ 4 3. NSE Strategic Performance 2020 ____________________________________________________ 6 4. Outlook for 2021 ________________________________________________________________ 9 Appendix 1: NSE Index Performance ____________________________________________________ 10 Appendix 2: NSE Market Performance __________________________________________________ 11 The Nigerian Stock Exchange 2020 Market Recap and 2021 Outlook 1 1. Global Capital Market Review 2020 The year 2020 was indeed a historic one for global capital markets. Facing buffeting headwinds, including an unprecedented pandemic, a weak global economy leading to manufacturing recessions, historically low crude oil prices, elevated geopolitical risks and social unrest – to name just a few, world markets saw sharp swings and steep losses, but largely remained resilient and orderly amid rising uncertainty. The outbreak of the novel coronavirus disease (Covid-19) and its rapid spread across the globe in the first quarter of the year, triggered panic selling by global investors. According to the World Federation of Exchanges (WFE), global capital markets
    [Show full text]
  • Africa Regulatory Ensight 2021 | 03 *Coronavirus (COVID-19) Regulatory Measures 3
    Africa regulatory ENSight 2021 | 03 *Coronavirus (COVID-19) regulatory measures 3 Angola sector measure effective date/status key points and impact Immigration Executive Decree No. 56/21 of 3 March Effective from 3 March The Executive Decree: 2021 2021. • repeals Executive Decree No. 3/21 of 5 January 2021, which extended the validity of the documents listed below; and • determines that documents relating to the residence of foreign nationals who are absent from the national territory, including residence permits, refugee cards, investor visas, work visas and temporary residence visas, which expired from 28 February 2020, shall be considered valid until 30 April 2021. Applies to Presidential Decree No. 62/21 Effective from 12 March The Presidential Decree: multiple sectors (Exceptional and temporary measures in 2021. • repeals: force during the Situation of Public • Presidential Decree No. 39/21 (Exceptional and temporary Calamity under COVID-19) of 11 March measures in force during the Situation of Public Calamity 2021 under COVID-19) of 9 February 2021; • Joint Executive Decree No. 23/21 of 15 January 2021, which temporarily suspended regular air passenger connections with South Africa, Portugal and Brazil; and • all legislation contrary to the provisions of this Presidential Decree; • is amended by Presidential Decree No. 77/21 (Amendment of measures to prevent and control the spread of SARS-CoV-2 virus and COVID-19) of 26 March 2021 [see below]; and • updates the exceptional measures for the prevention and control of the spread of the SARS-CoV-2 virus and COVID-19, as well as the rules for the operation of public and private services, social and other activities for the duration of the Situation of Public Calamity, in force until 10 April 2021.
    [Show full text]