Economies across Sub-Saharan Africa will be able to cope with higher US tariffs. And better terms of trade for most countries mean that painful currency adjustments are unlikely. That alongside lower inflation in most places mean that the region’s monetary cycle will soon broaden out to Nigeria. Overall, that’s likely to support a modest pick-up in growth over the next couple of years. Maintaining fiscal discipline remains critical for many governments, with recent protests in Angola and Kenya highlighting the risk of a public backlash against austerity measures. Public debt concerns remain elevated in Angola and Mozambique.
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