Question 1

In April 2026, Nigeria's annual inflation rate rose to 15.69%, marking a five-month high. What was the primary driver cited for this increase, despite a slowdown in monthly inflation growth?

Accepted Answer

Rising energy costs, partly attributed to global geopolitical events.

Question 2

Kenya's foreign exchange reserves experienced a notable increase following its return to the international sovereign bond market. As of March 12, 2026, what was the approximate level of these reserves, providing cover for how many months of imports?

Accepted Answer

USD 14.46 billion, covering 6.2 months of imports.

Question 3

The South African Reserve Bank (SARB) has made consecutive interest rate adjustments. In January 2025, the repo rate was reduced by 0.25% to 7.5%. What was the primary rationale cited by SARB for this decision amidst a challenging economic landscape?

Accepted Answer

To stimulate economic growth by making borrowing more affordable.

Question 4

Ghana has made significant progress in its debt restructuring efforts under the G20 Common Framework. By 2025, what was the status of its comprehensive debt restructuring, and what was the approximate percentage of remaining external commercial debt being negotiated?

Accepted Answer

Nearly completed, with negotiations ongoing for less than 5% of total pre-restructuring debt.

Question 5

In April 2026, Nigeria's headline inflation rate rose to 15.69%. While the overall annual inflation increased, what significant trend was observed in the month-on-month inflation rate for the same period?

Accepted Answer

It eased sharply to 2.13% from 4.18% in March.

Question 6

The African Development Bank Group (AfDB) announced a significant partial credit guarantee in May 2026. What was the amount of this guarantee, and which Moroccan company was it intended to support?

Accepted Answer

€450 million to support OCP Group's industrial investment program.

Question 7

According to recent reports in May 2026, Kenya's foreign exchange reserves have fallen to USD 13.65 billion. What is the primary reason attributed to this decline?

Accepted Answer

The Central Bank of Kenya utilizing reserves to stabilize the shilling amidst a dollar surplus.

Question 8

Ghana's economic program, supported by the IMF's Extended Credit Facility (ECF), has shown substantial stabilization gains. Which of the following is NOT cited as a key achievement of this program by May 2026?

Accepted Answer

A significant increase in public debt to GDP ratio.

Africa's Shifting Financial Sands: Inflation Surges, Reserves Fluctuate, and Debt Restructuring Continues

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