Botswana, Nigeria Tops Ranking Of Emerging Economy In World As Ghana Drops To 48th

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Botswana, and Nigeria are yet again be the leading forefront in Africa as the country has both countries leads the ranking of the Top 66 Emerging Markets by The Economist.

While the beautiful Southern Africa country leads the world in the best emerging Economy, the Africa largest Economy, Nigeria is Ranked 14th best Economy in the world and second in Africa, while Ivory Coast follow as the third best in West Africa.

The ranking also reveals the vast differences in the source and scale of potential weaknesses. Countries like Angola, Bahrain and Iraq have public debt that some reckon will exceed 100% of gdp this year. But about half of the economies we examine have debts below 60% of gdp, the threshold that euro-zone members are supposed to meet (and which few do).

The countries attained this based on four measures being financial strength, Low Public Debt, Low Foreign Debt, great Cost of Borrowing and sufficient Foreign Reserves

According the econmist, As the pandemic wreaks havoc on economies and public finances, the natural question is: who’s next? More than 100 countries, including South Africa, have asked the imf for help. It has already approved 40 of the quick, small loans it provides after natural disasters. Some countries are repeat customers. Egypt is also seeking a new bail-out only nine months after it drew down the final instalment of a loan agreed on in 2016.

The Economist also talked about The weather the crisis, emerging economies may need at least $2.5trn, the fund reckons, from foreign sources or their own reserves. One way to ensure countries have more hard currency is to stop taking it from them. The g20 group of governments has said it will refrain from collecting payments this year on its loans to the poorest 77 countries (though the borrowers will have to make up the difference later). The g7 group of countries has urged private lenders to show forbearance too. A group of over 70 private creditors supports the idea, while noting its “complexity” and the “constraints” lenders face.

Taiwan ,South Korea , Peru and Russia join Botswana in the top 5 in the world while Africa largest Economy, while the top 5 in Africa are Botswana, Nigeria, Ivory Coast, Morocco and Democratic Republic of Congo.

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