Notizie

Supply chain finance urgently needed for the development of Africa

Sabato 14 Ottobre 2023 13:28

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Recently, the World Trade Organization (WTO) raised on several occasions the problem of Africa's trade finance gap, indicating it as a major constraint to African industrialization and to the export development of companies in the continent. The latest WTO Annual Report reminded that the trade finance market in Africa barely covers 40 percent of total merchandise exports and imports (which is almost half of the global average), while a precedent report dated October 2022, made in collaboration with the International Finance Corporation (IFC), found that trade expansion in four West African economies (Côte d'Ivoire, Ghana, Nigeria, and Senegal) was severely constrained by the limited and costly access to finance by local firms, noting that the cost incurred by West African companies for obtaining bank funding to cover their trade operations is disproportionately higher than in other regions in the continent.

AfCFTA to promote growth and foster trade integration in Africa but additional reforms are needed, IMF warns

Mercoledì 11 Ottobre 2023 20:36

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The last Regional Outlook of the International Monetary Fund (IMF) acknowledges that 2023 has been a difficult year in sub-Saharan African economies, particularly because ot the inflationary shock that has followed the Russia’s war in Ukraine. As a result, growth in 2023 is expected to fall for the second year in a row to 3.3 percent from 4.0 percent of 2022. Estimating the growth of the sub-Saharan Africa economy is similar to a lottery, due to the many variables that condition such a growth, like a possible slowdown in reform efforts by African countries, a rise in political instability, or external downside risks (including from China slowing down). Nonetheless, according to the IMF, this region should rebound next year of about 4.0 percent, with strong performances especially by non-resource intensive countries such as Rwanda, Cote d’Ivoire or Ethiopia, that should growth respectively of 7, 6.6 and 6.2 percent. However, here is the trick...

An analysis from WTO on how preferential rules of origin can expand (or restrict) trade of less developed countries

Lunedì 09 Ottobre 2023 17:32

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The WTO Sub-Committee on LDCs, the body mandated to analyse systemic issues of interest to LDCs in the multilateral trading system, explored the role of preferential rules of origin in increasing trading opportunities for least-developed countries (LDCs) in a workshop held on 5 October. Representatives from the private sector and academia also participated to the discussions highlighting the challenges and opportunities LDCs (most of which are in Africa), face in taking advantage of trade preferences.

Trade protection policies as a key obstacle to attraction of investments in Africa

Domenica 08 Ottobre 2023 20:58

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Recently, there is no study on Africa’s economy that does not mention the share of intraregional trade in the continent, noting that such a share is significantly lower than in other regions of the world. The latest edition of Africa’s Pulse, the bi-annual publication of the Office of the Chief Economist in the World Bank Africa Region is not an exception. The report clarifies that the average share of trade within Sub-Saharan Africa was only 16 percent in the period between 2013 and 2017, noting that such a share is substantially lower compared to that in North America (56 percent in 2013–17), Asia (60 percent), and Europe (68 percent). However, these statistics in Africa must be taken with a pinch of salt, given the highly informal and predominantly cash-based nature of its economy, where formal and informal transactions are largely mediated by intermediaries.

Regional ‘hegemons’ can push the Africa integration process forward

Domenica 01 Ottobre 2023 05:10

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The United Nations Economic Commission for Africa (UNECA) published the 2023 edition of the Macroeconomic and Social Developments Report for Eastern Africa, a document that analyses the economic outlook andintegration challenges in Eastern Africa. A chapter of the report is dedicated to the African Continental Free Trade Agreement (AfCFTA), which is analysed in the context of the current status of the economic integration process at both regional and continental level.

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Pagina 14 di 149

Notizie

Supply chain finance urgently needed for the development of Africa

AfCFTA to promote growth and foster trade integration in Africa but additional reforms are needed, IMF warns

An analysis from WTO on how preferential rules of origin can expand (or restrict) trade of less developed countries

Trade protection policies as a key obstacle to attraction of investments in Africa

Regional ‘hegemons’ can push the Africa integration process forward

Altri articoli...

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