Naira unity, China debt talks, South Africa’s budget

Nigeria’s government is rumoured to seek the merger of the country’s main exchange rates, but a unified and market-determined naira still seems far away. A speech by Chinese president Xi Jinping shed (a little) light on the country’s take on debt relief programmes, and it looks likely that Chinese quasi-state lenders will remain a barrier. The big event next week is South Africa’s emergency budget. Attention will probably focus on whether the government will still seek IMF support, but a shift back to austerity also appears to be on the cards.