OGResearch Macro Portal Newsletter -- July 2026

‍Sierra Leone

• Growth will temporarily accelerate once the mining project expansions are complete
• Inflation will increase amid higher oil prices and poor monetary policy
• Rising prices made the exchange rate overvalued, requiring a nominal depreciation

Madagascar

• Growth will remain below potential, constrained by weak infrastructure and governance
• Cuts in fuel subsidies and higher shipping costs will push inflation higher
• Depreciation will continue as FDI inflows only partially offset the widening trade deficit

‍

Read the forecasts in detail on our Macro Portal.

‍-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------Forecast updates in July:

• Mongolia
• Uzbekistan
• Angola

‍

‍

‍