Middle East & Africa round-up: Sinking currencies reflect grim African prospects, and more

11 Sep 15

A round-up of public finance news stories from the Middle East & Africa you might have missed.

Sinking currencies reflect grim African prospects

A slump in commodity prices and flight by global investors from risky "frontier" markets has hammered currencies and state budgets across Africa, increasing dollar borrowing costs and raising the prospect of political instability. (Reuters)

Syria’s neighbours strained by influx of refugees

After more than four years of conflict, Syria’s neighbors, under severe financial strain, are paring support for bulging refugee populations and sometimes looking the other way as thousands flee for the stability of Europe. (Wall Street Journal)

South Africa: ‘Jacob Zuma’s government breeds graft’

The ANC government came under fire as opposition parties said that the President Jacob Zuma-led government was responsible for ongoing corruption in the country. (The Citizen)

Nigeria's Buhari eyes foreign missions for savings

Nigeria could see a reduction in its foreign missions after President Muhammadu Buhari ordered a review of the country’s diplomatic postings overseas. (Yahoo)

IMF warns Saudi Arabia on public spending as oil revenues dwindle

The International Monetary Fund has urged Saudi Arabia to reduce domestic energy subsidies and its public sector wage bill as the world's top oil exporter wrestles with plunging crude prices. (CBC)

Kenya uproar at $1,000 wheelbarrow graft claims

Protesters in Kenya marched on local government offices after officials bought 10 wheelbarrows costing over $1,000 each, reports said, the latest corruption scandal in the East African nation. (AFP via Yahoo)

If Africa is rising, why are the villages left behind?

Feature: In Lagos all the talk is of wealth and economic boom. But a return to my family hometown, still waiting for a tarmac road, tells a different story. (The Guardian)

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