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IMF Staff Concludes Visit to Nigeria
August 1, 2017--Six countries in central Africa have been hit hard by the collapse in commodity prices. Oil prices dropped, economic growth stalled, public debt rose, and foreign exchange reserves declined.
A delayed response from policymakers, and a regional conflict have worsened the situation further for people in the region.
The countries of the Central African Economic and Monetary Community are Gabon, Cameroon, Chad, the Central African Republic, the Republic of Congo, and Equatorial Guinea. They share a common currency-the CFA franc-that is pegged to the euro, and have a common central bank that holds the region's pool of foreign exchange reserves.
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Source: IMF
Gains as rand hedges continue to lift JSE
August 1, 2017--The JSE has managed to reverse earlier losses to close in positive territory as rand hedges pushed the index higher yet again, explains EasyEquities.
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Source: FIN24
Rand breaches R13.30/$ on ratings jitters
August 1, 2017--The rand has extended its losses, breaching the R13.30 to the US dollar level as credit rating fears resurfaced.
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Source: FIN24
JSE rises as All-share index reaches new all-time high
July 31, 2017--Share prices have lifted on a wide front and the All-share index was 0.63% higher at 55 277 points by mid-morning, putting the market back at the level it was on 27 months ago.
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Source: FIN24
Zimbabwe: Gold Reserves to Back Currency
July 28, 2017--Government is building diamond and gold reserves to back the local currency upon its re-introduction in future, Vice-President Emmerson Mnangagwa has said.
VP Mnangagwa refused to disclose when the local currency would be re-introduced, but said it would only come back when mineral reserves reached desired levels.
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Source: AllAfrica.com
SARB sees South Africa exiting recession
July 28, 2017--SA Reserve Bank chief Lesetja Kganyago says the country is expected to have emerged from its first recession for eight years during the second quarter of this year.
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Source: FIN24
JSE pulls back on profit-taking and in tandem with world markets
July 28, 2017--The major indices on the JSE have pulled back slightly in line with world markets, which also took a breather on the eve of latest US growth figures.
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Source: FIN24
SA mining industry on its knees as woes grow
July 27, 2017--South African mining companies are struggling to keep head above water amid legal uncertainty and a weak economy.
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Source: FIN24
JSE rises on Naspers boost and Fed rates statement
July 27, 2017--Share prices on the JSE have climbed again, jumping sharply in early trade but then moving sideways for the rest of the morning.
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Source: FIN24
Rand gains as Fed knocks dollar
July 27, 2017--The rand has received a welcome boost after dovish comments by US Federal Reserve chairperson Janet Yellen placed the dollar on the back foot.
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Source: FIN24
