Why must the priority be foreign “investors” who must receive their incredible returns at the expense of Nigeria, and domestic speculators in dollars?
“The degree of transparency we’re starting to get with the new administration is hugely positive,” says an analyst who looks at the bright side.
Uganda’s reserves dropped 17% to $2.8 billion in May from a year earlier. Its expected to stabilise in 10 to 15 months as exports grow.
Tanzania’s shilling weakened 21% so far this year and is Africa’s worst-performing currency, after Ghana’s cedi.