Middle East Archives - African Financial & Economic Data

Just How Bad is Public Debt in Africa?

Well, public debt in African states is much higher if you take into account their revenue mobilization capacities. The bigger the informal sector, the lower the debt/revenues ratio.

Consider the case of Nigeria (from the FT):

Nigeria’s accumulated government debt is just 18.6 per cent of its annual economic output, one of the lowest levels in the world, implying that its debt burden is more than manageable. But is this a fair reflection of reality?

Using a different metric, the Nigerian government’s gross debt is 320 per cent of its annual revenues, according to figures from Fitch Ratings, one of the highest figures in the world and comfortably above the median of 196 per cent for countries in Africa and the Middle East that are rated by Fitch.

[via An Africanist Perspective]

Hong Kong bans import of poultry meat and products from Egypt and areas in Poland and Ukraine

The CFS has contacted the Polish, Ukrainian and Egyptian authorities over the issues and will closely monitor information issued by the OIE on avian influenza outbreaks in the countries concerned

HONG KONG, The People’s Republic of China, January 16, 2017

The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (January 16) that in view of notifications from the World Organisation for Animal Health (OIE) about outbreaks of highly pathogenic H5N8 avian influenza in Egypt and Odessa and Chernovtsy Oblasts in Ukraine, and a notification from the Polish authorities about outbreaks of H5N8 avian influenza in Klodzki and Krakowski Districts in Poland, the CFS has banned the import of poultry meat and products (including poultry eggs) from the above places with immediate effect to protect public health in Hong Kong.
A CFS spokesman said that in the first 11 months of last year, Hong Kong imported about 18 700 tonnes of frozen poultry meat and 4.8 million poultry eggs from Poland. Hong Kong at present has established a protocol with Ukraine for the import of poultry eggs but not for poultry meat. About 2.98 million poultry eggs were imported into Hong Kong from Ukraine in the same period. In addition, as Hong Kong has not established any protocol with Egypt for imports of poultry meat and eggs, there is no import of such commodities from Egypt.

“The CFS has contacted the Polish, Ukrainian and Egyptian authorities over the issues and will closely monitor information issued by the OIE on avian influenza outbreaks in the countries concerned. Appropriate action will be taken in response to the development of the situation,” the spokesman said.