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Middle East & Africa


South African bonds supported, rand weakens on softer euro JOHANNESBURG: The yield spread on South African benchmark 2026 and 2015 bonds narrowed to its lowest in a year on Thursday, as lower-than-expected inflation data gave support to longer-dated bonds.Data on Wednesday showed CPI was unchanged at 5.9 percent year-on-year in March, undershooting market expectations for price growth to hit the upper end of the central bank's 3 to 6 percent target.The yield on the 2026 dropped to a record low of 6.87 percent, giving up 5.5 basis points, while the 2015 yield dropped 1.5 basis points.The yield differential between the two was at 160 basis points, a level last seen in March 2012."For the time being, it looks like the bidding tone is set to continue with the R186s moving into historically low territory as they target 6.85 percent on the downside," Thando Vokwana, a dealer at Rand Merchant Bank, said in a note to clients.The rand was ignoring ...

Yields on Egypt T-bills climb at Thursday's auction CAIRO: The average yield on Egyptian 182 and 357 day treasury bills rose sharply in an auction on Thursday, figures released by the central bank showed, following an interest rate hike last week.The average yield on 182-day T-bills for April 2 issue rose to 13.813 percent from 13.031 percent at the previous issue on March 26.The yield on 357-day T-bills also for April 2 issue rose to 14.463 percent from 13.776 percent in the previous ...
Ghana to issue 400mn cedi 3-year bond on March 7 DAKAR: Ghana will issue a 400 million cedi ($210 million) three-year government bond on March 7 to service maturing debts, the West African nation's central bank said on Tuesday.   The bank said in a statement that the funds generated from the auction would be used for "government budget support and to rollover maturing debt."   It said settlement will take place on March 11.   Copyright Reuters, 2013 ...
Dubai DUBAI: Emirates airline, Dubai's flagship carrier, launched a $750 million 12-year amortising bond on Thursday, with final pricing due later in the day, arranging banks said.   The bond, which matures in 2025, and carries an average life of seven years, launched at 300 basis points over seven-year midswaps, at the wider end of guidance released on Wednesday.   Citibank, Deutsche Bank, Emirates NBD , JPMorgan Chase, Morgan Stanley and Standard Chartered PLC are lead arrangers on the issue. ...
Nigeria to sell 826.31bn naira in T-bills in Q1 LAGOS: Nigeria plans to raise about 826.31 billion naira ($5.26 billion) worth in treasury bills ranging between three months and one year in the first quarter of the year, the central bank said on Friday.   It plans to auction 331.29 billion naira in 91-day, 182-day and 364-day paper in January, 354.93 billion naira in the same range of bills in February and 140.09 billion of same range in March at its twice-monthly auction.   Offshore investors' interest in ...
Nigeria to sell 165bn naira worth of T-bills LAGOS: Nigeria plans to sell 164.88 billion naira ($1.05 billion) worth of treasury bills with maturities ranging from three months to one year on Jan 24, at its twice-monthly auction, the central bank said on Wednesday.   The bank said it will auction 34.88 billion naira in 91-day bills, 50 billion naira in 182-day notes and 80 billion naira in 364-day paper, using Dutch auction system.   Nigeria, Africa's top energy producer, issues treasury bills regularly as part of ...
South Africa govt bonds maintain firm footing JOHANNESBURG: South African government bonds are expected to hold firm on Tuesday, with yields close to historic lows, and the rand is seen stronger against the dollar, backed by a weak greenback globally.   Investors piled into the bond market in the previous session, pushing the benchmark 13-year paper's yield down to six-month lows.   The yield was down 0.8 basis points to 7.100 percent at 0655 GMT, while the three-year bond gained 0.2 basis points to 5.315 percent.   "Sentiment ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln