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South Africa’s President Cyril Ramaphosa calls on G20, World Bank, IMF, AfDB to help Africa amid coronavirus economic turbulence

President Cyril Ramaphosa of South Africa has called on the International Monetary Fund (IMF), the World Bank, the African Development Bank (AfDB), the G20 countries and international financial institutions to help Africa amid the novel coronavirus...

IMF enhances debt relief trust to assist low-income countries amid COVID-19 economic turmoil

The International Monetary Fund (IMF) Executive Board has adopted some immediate enhancements to its Catastrophe Containment and Relief Trust (CCRT) to provide debt service relief for its poorest and most vulnerable members amid COVID-19 economic turbulence.

Coronavirus pandemic now a global economic and financial crisis, say IMFC Chair Lesetja Kganyago and IMF boss Kristalina Georgieva

The coronavirus pandemic has now turned into a global economic and financial crisis and strong and immediate actions are needed to minimize the impact, the Chairperson of the International Monetary and Financial Committee, Lesetja Kganyago, and...

IMF’s Kristalina Georgieva tells G20 leaders global economy will contract in 2020 amid coronavirus pandemic and recover in 2021

The managing director of the International Monetary Fund (IMF) Ms. Kristalina Georgieva projected on Thursday that the global economy will contract in 2020 amid impacts from the coronavirus pandemic and recover in 2021, adding that the...

Somalia debt to be reduced from $5.2 billion to just $557 million, IMF and World Bank announce

The International Monetary Fund (IMF) and the World Bank's International Development Association announced on Wednesday that Somalia has taken all the necessary steps to begin receiving debt relief under the enhanced Heavily Indebted Poor Countries (HIPC)...

World Bank and IMF ask creditors to immediately suspend debt payments for low-income countries over coronavirus economic impacts

The World Bank and the International Monetary Fund (IMF) on Wednesday called on all official bilateral creditors to suspend debt payments from IDA countries that request forbearance.The International Development Association (IDA) countries are those...

President Akufo-Addo administration requests rapid cash disbursement from IMF to respond to coronavirus economic challenges in Ghana

The administration of President Nana Akufo-Addo of Ghana has requested a rapid disbursement of cash from the International Monetary Fund (IMF) to help the West African nation respond to coronavirus economic challenges, IMF said in a...

IMF approves $47.1 million loan for The Gambia with immediate disbursement of $6.7 million to stabilize economy amid COVID-19 challenges

The Executive Board of the International Monetary Fund (IMF) on Monday approved a $47.1 million loan for The Gambia under a 39-month extended credit facility (ECF), meaning the West African country can request for the gradual...

IMF managing director Kristalina Georgieva calls for solidarity to limit economic damage from coronavirus pandemic

The managing director of the International Monetary Fund (IMF) Kristalina Georgieva on Monday called for solidarity to limit the economic damage from COVID-19, the respiratory disease caused the novel coronavirus.In her message...

IMF board announces expedited appointment of American citizen Geoffrey Okamoto as first deputy managing director amid COVID-19 ‘exceptional challenges’

The International Monetary Fund(IMF) Executive Board has approved the expedited appointment of Mr. Geoffrey Okamoto as First Deputy Managing Director, effective March 19, 2020, eleven days before the date originally announced.IMF...
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BREAKING: President Julius Maada Bio of Sierra Leone lifts ban on pregnant girls attending school

Sierra Leone announced on Monday that the 2010 government decision preventing pregnant girls from attending school and...
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BREAKING: Governor Seyi Makinde of Oyo state in Nigeria tests positive for coronavirus

Governor Seyi Makinde of Oyo State in Southwest Nigeria has tested positive for coronavirus.Makinde said he was...

BREAKING: Another person dies from COVID-19 in Nigeria lifting total death toll to 2 from 111 infections

A second person has died from COVID-19 in Nigeria, bringing the total death toll in Africa's most populous country to two,...

BREAKING: Facebook invests $100 million to support the news industry through COVID-19 pandemic

CEO Mark Zuckerberg announced on Monday that Facebook will invest $100 million to support the news industry through COVID-19.

African heads of state set up anti-COVID-19 fund during unprecedented teleconference

African heads of state and government have held their first teleconference amid coronavirus pandemic and set up a $12.5 million anti-COVID-19...
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