World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
Dollar’s Rise Stings Africa
Keywords:
Tags:
The appreciation of the U.S. dollar and depreciating currencies in Africa in 2015 makes it costlier to import manufactured goods to African countries. Quality Supermarkets in Kampala, Uganda, struggles to fill its shelves with imported packaged foods and manufactured goods. The lack of financing for $30 million in crude supplies leads to the closure of a refinery in Lusaka, Zambia, and long lines at gas stations. The Zambian currency kwacha has depreciated by 17% against the U.S. dollar in 2015. Uganda's currency the shilling, Angola's currency the kwanza, and Nigeria's currency the Naira, all depreciated in 2015. This means larger trade deficits to finance consumer imports or upgrade infrastructure. In Uganda this means delays in upgrades to power lines and transformers. In oil producing countries such as Angola and Nigeria, and oil producers at the early stage such as Uganda and Ghana, there is a double whammy with lower oil prices leading to lower revenues to finance costlier imports. This is likely to slow growth in Africa from about 5% in recent years to 3.7%, according to Capital Economics forecast. Countries in Africa that import oil will see lower import bill for oil, but that benefit eroded by a depreciating currency. South Africa sees benefit of lower oil prices offset by lower revenues from commodity exports of iron ore, and the higher cost of imports with a depreciating currency.
The impact of a stronger U.S. dollar on Africa- the situation in Uganda, Zambia, Nigeria, S. Africa, and other countries with depreciating currencies
03/25/2015
The lack of $30 million in dollar funds leads to closing of a refinery and long lines in Lusaka,, Zambia. A large supermarket in Kampala, Uganda, has empty shelves for imported products as it becomes costlier to import with a depreciating currency. Flights on a Portugal run airline into Angola now cost more. Infrastructure improvements are being delayed because of the extra cost. Throughout Africa one can see the impact of an appreciating U.S. dollar.
Grouped Articles
Wall Street Journal 03/25/2015
Businesses Seek Out New African Frontiers
Wall Street Journal 04/01/2015
African Pensions Funds Invest in Infrastructure Projects
Wall Street Journal 05/08/2015
Mining Collapse Cripples Africa’s Dreams of Prosperity
Wall Street Journal 03/04/2016
IMF’s African Push Reopens Old Wounds
Wall Street Journal 03/05/2016
Nigeria Grapples With Abrupt End to Rapid Growth
Wall Street Journal 04/12/2016
Automobile market in Nigeria and other African countries
01/18/2011
Grouped Articles
Wall Street Journal 03/25/2015
In Nigeria, Used Cars Are a Road to Status
Wall Street Journal 01/18/2011
In Nigeria, Rising Dreams of Web Commerce
Wall Street Journal 06/03/2012
The Economist 03/09/2019
Debt, credit ratings and borrowing costs for African countries- Nigeria, Tanzania, Kenya, Ghana, Angola, Rwanda
02/10/2015
Bond issuance by African countries which was only $1 billion in 2000, reached $11 billion in 2013, $8 billion in 2014, with the pace slowing in 2015 as the U.S. Federal Reserve is expected to raise interest rates in late 2015. African countries need infrastructure financing. IMF and World Bank loans are providing additional financing. African countries compete for western investors with Romania, Bolivia, Guatemala and other smaller developing countries.
Grouped Articles
Africa’s Bond Bonanza Finds Fewer Takers
Wall Street Journal 02/10/2015
Wall Street Journal 03/25/2015
African Pensions Funds Invest in Infrastructure Projects
Wall Street Journal 05/08/2015
Opinion: 'Marshall Plan with Africa' creates enormous expectations | Germany | DW.COM | 18.01.2017
DW.COM 01/18/2017
Young, Urban and Poor: Africans Fight Back
WSJ 02/05/2019
South Africa's currency, the Rand
03/13/2013
Grouped Articles
South African Economy Hit by Labor Unrest
Wall Street Journal 08/27/2013
Corrosive Inflation Eats at Developing World
Wall Street Journal 02/11/2014
After Sharp Slide, Rand Seen More Stable
Wall Street Journal 03/13/2013
Wall Street Journal 03/25/2015
South Africa’s Rand Falls to Record Low After Finance Minister’s Dismissal
Wall Street Journal 12/12/2015
Wall Street Journal 01/12/2016
South Africa's elelctricity company Eskom- cash shortages, lack of investment and power shortages crimping the economy 2014-2016
12/14/2014
Growth forecast shows growth slowing to 2.5%, not enough to make a dent in unemployment over 25%. A drop in the value of the Rand, lower mining commodity prices for exports, reduces any benefits from lower oil prices in 2014-2015.
Grouped Articles
South Africa Faces Credit Scrutiny Amid Blackouts
Wall Street Journal 12/14/2014
Wall Street Journal 03/25/2015
Businesses Seek Out New African Frontiers
Wall Street Journal 04/01/2015
Africa and commodity prices: No longer the kiss of death
Economist 04/30/2015
Weak Power Grids in Africa Stunt Economies and Fire Up Tempers
New York Times 07/02/2015
Zambia Copper Producer Halts Production Over Power Shortages
Wall Street Journal 08/04/2015
Faces in the Ugandan economy
10/13/2011
Grouped Articles
Wall Street Journal 03/25/2015
As Ugandaâs Economy Sags, Discontent Simmers in a Market
New York Times 10/13/2011
Uganda Welcomes Oil, but Fears Graft It Attracts
New York Times 11/25/2011
Port projects in Kenya for regional growth in Uganda, Sudan and Kenya region 2014-2018
08/20/2014
Grouped Articles
Violence Imperils Kenya Port Project
Wall Street Journal 08/20/2014
Wall Street Journal 03/25/2015
Decline in Nigeria's currency, the Naira, as oil prices drop in 2014-2015
12/03/2014
A 10% drop in Nigeria's currency by Dec. 2014. Foreign exchange reserves drop to $2 billion in Dec. 2014 putting Nigeria in a precarious financial situation.
Grouped Articles
Nigeria’s Tumbling Currency a Victim of Falling Oil Prices
Wall Street Journal 12/03/2014
Oil Prices Slip Further After IEA Report
Wall Street Journal 12/12/2014
Fall in Oil Prices Threatens Africa’s Economic Growth
Wall Street Journal 12/12/2014
Nigeria’s Central Bank Restricts Currency Trading to Prop Up Naira
Wall Street Journal 12/19/2014
Oil Prices Tumble to Fresh Lows
Wall Street Journal 01/06/2015
Iran’s Nuclear Deal Could Open Oil Flood
Wall Street Journal 03/17/2015
Nigeria's currency, the Naira
12/03/2014
Grouped Articles
Nigeria’s Tumbling Currency a Victim of Falling Oil Prices
Wall Street Journal 12/03/2014
Nigeria’s Central Bank Restricts Currency Trading to Prop Up Naira
Wall Street Journal 12/19/2014
Wall Street Journal 03/25/2015
The effects of lower oil prices in 2015 - (4) the effect on African countries
12/12/2014
Oil exporting countries in West Africa such as Nigeria, Ghana and Angola lose oil revenues, oil importing countries in East Africa such as Tanzania, Kenya, Mozambique and South Africa benefit with lower oil import bills.
Grouped Articles
Fall in Oil Prices Threatens Africa’s Economic Growth
Wall Street Journal 12/12/2014
Oil Prices Tumble to Fresh Lows
Wall Street Journal 01/06/2015
Wall Street Journal 01/06/2015
Wall Street Journal 03/25/2015
Businesses Seek Out New African Frontiers
Wall Street Journal 04/01/2015
Africa and commodity prices: No longer the kiss of death
Economist 04/30/2015
Africa's growing middle class and consumer market
05/02/2011
A billion plus people in Africa rivals the market in India and China. The middle class in Africa in 2011 is estimated at about 316 million people. This provides market opportunities for many consumer products companies.
Grouped Articles
Wall Street Journal 03/25/2015
Businesses Seek Out New African Frontiers
Wall Street Journal 04/01/2015
A New Class of Consumers Grows in Africa
Wall Street Journal 05/02/2011
Manufactured Goods Lead Surge in Indian Exports
New York Times 07/25/2011
Wall Street Journal 07/16/2012
Microsoft and Huawei to Unite to Sell Windows Smartphones in Africa
New York Times 02/04/2013
Business and markets in Africa
04/09/2011
Grouped Articles
Wall Street Journal 03/25/2015
In African Stock Markets, Fear and Hope
New York Times 04/09/2011
A New Class of Consumers Grows in Africa
Wall Street Journal 05/02/2011
Wall Street Journal 07/16/2012
The Economist 03/09/2019
South Africa's currency, the Rand
03/04/2011
Grouped Articles
No Ticker Tape Parade for Brazil's Currency Heroes
Wall Street Journal 06/06/2013
Corrosive Inflation Eats at Developing World
Wall Street Journal 02/11/2014
Wall Street Journal 03/25/2015
South Africa’s Rand Falls to Record Low After Finance Minister’s Dismissal
Wall Street Journal 12/12/2015
Wall Street Journal 01/12/2016
South Africa's Currency Dilemma
Wall Street Journal 03/04/2011
South Africa's economy in 2014-2017
12/14/2014
Deteriorating prospects for foreign investment in South Africa for 2015. Economic growth is forecast by the IMF to remain below 2.5% for years till the power situation is tackled. Growth is estimated in 2014 at a mere 1.4%, not enough to reduce high unemployment of over 25%. Lower commodity prices for mining exports, and a decline in the value of the rand reduce any benefit from lower oil prices. The government of president Zuma is seen as ineffective in tackling power shortages, and making changes at electricity company Eskom which suffers from cash shortages.
Grouped Articles
South Africa Faces Credit Scrutiny Amid Blackouts
Wall Street Journal 12/14/2014
Wall Street Journal 03/25/2015
Businesses Seek Out New African Frontiers
Wall Street Journal 04/01/2015
Africa and commodity prices: No longer the kiss of death
Economist 04/30/2015
Weak Power Grids in Africa Stunt Economies and Fire Up Tempers
New York Times 07/02/2015
The Betrayal of Mandela’s Promise
Wall Street Journal 08/20/2015
Zambia's economy 2010-2016
09/21/2011
Grouped Articles
Wall Street Journal 03/25/2015
Zambia Copper Producer Halts Production Over Power Shortages
Wall Street Journal 08/04/2015
Mining Collapse Cripples Africa’s Dreams of Prosperity
Wall Street Journal 03/04/2016
In Zambia Election, the Big Issue Is China
Wall Street Journal 09/21/2011
Zambia Awaits President-Elect's Inauguration
Wall Street Journal 09/23/2011
Zambia's Leader Hands Over Power
Wall Street Journal 09/24/2011
Food shortages, food price inflation reducing access to food, and the prospect of increasing malnutrition in Africa in 2014-2015
10/10/2014
Following the Ebola crisis in West Africa is another crisis related to food shortages and food price inflation reducing access to food for needy families across all of Africa from Uganda to South Africa.
Grouped Articles
Rising Food Prices Make Africa Fight Ebola on Empty Stomach
Wall Street Journal 10/10/2014
Wall Street Journal 03/25/2015
Liberia, Ravaged by Ebola, Faces a Future Without It
New York Times 05/08/2015
Young, Urban and Poor: Africans Fight Back
WSJ 02/05/2019
Debt, credit ratings and borrowing costs- Nigeria
02/10/2015
Grouped Articles
Africa’s Bond Bonanza Finds Fewer Takers
Wall Street Journal 02/10/2015
Wall Street Journal 03/25/2015
Electricity development in African countries- Nigeria, Ghana, Kenya, Tanzania, Liberia, Ethiopia
10/23/2010
Grouped Articles
New York Times 07/15/2013
Electricity in Nigeria: Let there be light
Economist 10/23/2010
Can Moguls Untangle Nigeria's Power Lines?
Wall Street Journal 04/24/2014
Liberia’s Ebola Crisis Puts President in Harsh Light
New York Times 10/30/2014
Nigeria’s Tumbling Currency a Victim of Falling Oil Prices
Wall Street Journal 12/03/2014
Wall Street Journal 03/25/2015
Nigeria's economy- 2009-2016
05/11/2006
Grouped Articles
A High-Wire Act for Nigeria's Oil Minister
BusinessWeek 09/16/2010
Electricity in Nigeria: Let there be light
Economist 10/23/2010
Nigerian Central Bank Governor Ousted
Wall Street Journal 02/21/2014
Nigeria's Economy Surpasses South Africa's in Size
Wall Street Journal 04/07/2014
Foreign Investment in Africa Seen at Record $80 Billion in 2014, Report Shows
Wall Street Journal 05/20/2014
Nigeria’s Tumbling Currency a Victim of Falling Oil Prices
Wall Street Journal 12/03/2014
The combination effect of lower oil prices, lower commodity prices, and depreciating currencies on Africa- on S. Africa, Nigeria, Uganda, Zambia, Angola, Ghana, aand other countries
12/12/2014
Linked Articles
Wall Street Journal 03/25/2015
Fall in Oil Prices Threatens Africa’s Economic Growth
Wall Street Journal 12/12/2014
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us