macroafricaintel Daily Brief | 19 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets
• China to cut tariffs, boost imports of high-quality goods and
services: Xi says
• Sliding dollar steadies as virus worries persist
• Asia stocks ease from highs, bonds count on Fed support
• Wall Street dives as shutdown worries overshadow vaccine hopes
• Oil prices ease a rising covid-19 cases outweigh vaccine optimism
• Brent down 0.4% at $44.17, WTI down 0.7% at $41.53 (0345GMT)
• Gold eases as dollar firms, vaccine progress weighs
• Spot gold down 0.2% at $1,867.43/oz., futures down 0.4% at $1,866.60 (0418GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• South Africa central bank decides interest rates [fcst. 3.5%, prev. 3.5%]
• AfCFTA council of ministers meet (20 Nov.)
• South Africa state capture inquiry continues; Zondo to rule on Zuma recusal application
• Bank of Ghana MPC (18-23 Nov) [fcst. 14.5%, prev. 14.5%]
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Coronavirus cases in Africa surpass the 2 mln mark: Reuters tally
• Need to treat all creditors equally led to Zambia default, c.bank says
• Congo declares end of ebola outbreak, sees lessons for covid fight
• Ethiopia says disarms Tigray peacekeepers in Somalia over security
• Ethiopia troops push for regional capital, rebels promise ‘hell’
• Ethiopia seeks arrest of 76 military officers linked to Tigray leaders
• Uganda politician and pop star Bobi Wine says he has been arrested
• Oil companies tighten Nigeria security as protests, job losses stoke tension
• Consortium pulls plug on South Afriac’s Thabametsi coal plant
• Malawi police arrest pastor wanted in South Africa for fraud, money laundering
• In U-turn, Kenya plans to defer $690 mln in debt repayments under
G20 intiative
• Tigray peacekeepers in Somalia disarmed by Ethiopia colleagues, sources say
• Proposal to nationalise South Africa central bank sends ‘negative
signal’ – treasury
• Vedanta Zinc suspends mining at South Africa’s Gamsberg mine after accident
• South Africa court rules insurer Santam should pay hotel group’s
virus-related claim
• Congo declares end of ebola outbreak that killed 55
• Morocco PM says Western Sahara wall at centre of dispute completed
• UN pulls $100 mln from emergency fund in bid to avert famines

Bloomberg
• Ethiopia conflict precipitates mounting humanitarian crisis
• Riots erupt in Uganda after arrest of presidential candidate
• South Africa will avoid debt crisis, President Ramaphosa says
• Awaiting South Africa bailout, land bank locks out farmers
• Zambia central bank hold key interest at record low 8%
• Ghana denies interfering in gold fund probe after official quits
• Kenyans fear they’re on their own as covid-19 surges again
• Santam loses virus-related case in test for South Africa insurers
• Ethiopia freezes assets of fund accused of backing war in Tigray

N.B. Full stories of above headlines are available on Reuters & Bloomberg

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