In this week’s podcast Mark Schaltuper (Head of Latin America Analysis) and Terry Alexander (Head of Country Risk and Financial Markets) discuss the return of risk appetite to global markets. Assessing recent moves and a stronger-than-expected bounce in developed markets’ equities, we explore potential opportunities and the implications for emerging markets.

 

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My colleagues at Business Monitor International tell me that oil production will be a defining feature of the Ghanaian growth story over the medium-to-long term. In fact, they forecast that over the coming years, growth will be in the double digits and the deficits on the current account and fiscal account will be wiped out. [Read more...]

The Ghana All-Share Index was the worst-performing stock market in Sub-Saharan Africa in 2009, but I believe that it could reverse its fortunes and be among the top performers in 2010. Having experienced a dramatic 48.0% fall in the first half of 2009, the market has found support around 5,200, and now appears to be [Read more...]

With risk appetite still on and markets racing ahead, I have been seeking out some of the more unconventional, ‘frontier’ plays. These are not for the faint-hearted but I like the look of several sovereign bonds – Ghana’s US$ 2017 global bond, Republic of Congo’s US$ 2029 global bond and Ukraine’s US$ 2013 global bond. [Read more...]

My colleagues and I at Business Monitor International (BMI) frequently initiate or exit positions in our in-house mock portfolio, a practice which regular readers of our online service and weekly Emerging Markets Monitor magazine will be familiar with. Today, I shed some light on BMI’s Africa portfolio.

Given the current correction in global stock markets and [Read more...]

Ghana is one of my long-term favourites in Africa, but I can’t help worrying how the nation will fare over the coming months. With an oil boom in the pipeline and healthy democratic credentials, the country has looked like a diamond in the rough over the past year or so. Now, though, cracks are starting [Read more...]