IMF approves disbursement of $131.3 million to Togo, four times larger than planned, amid coronavirus economic sabotage
The International Monetary Fund (IMF) on Friday approved an immediate disbursement of $131.3 million to Togo, almost four times larger than what was previously foreseen, amid coronavirus global economic recession.The additional cash...
African Development Bank Group approves gender equality trust fund to improve women’s economic empowerment in Africa
The Board of Directors of the African Development Bank Group has approved a new Gender Equality Trust Fund (GETF) aimed at pushing forward gender equality and women’s empowerment across the continent.Funded by...
New report shines light on china’s lending to developing countries, as coronavirus raises debt sustainability concerns
As the COVID-19 economic crisis brings about rising concerns over debt sustainability in developing countries, a new report from the Center for Global Development (CGD) finds that China's loans tend to have shorter grace periods and...
The Executive Board of the International Monetary Fund (IMF) has completed discussions on $221 million request by Senegal to meet the urgent budgetary and balance of payments needs stemming from the COVID-19 pandemic.
WHO urges World Bank and IMF to grant African nations express debt relief to withstand COVID-19 economic turmoil
The World Health Organization (WHO) on Wednesday urged the International Monetary Fund (IMF) and the World Bank to urgently grant developing countries, many in Africa, debt relief to cope with COVID-19 economic crisis.
The International Monetary Fund (IMF) has approved $23.5 million disbursement for Guinea amid coronavirus economic instability. The approval brings total disbursements under an extended credit facility (ECF) for Guinea to $117.6 million.An...
Urgent and bold policy measures needed to protect most vulnerable from coronavirus economic ruins, UN says in fresh report
The global economy could shrink by almost one percent this year—0.9 percent—due to the COVID-19 pandemic, and world output could contract further if imposed restrictions on economic activities extend to the third quarter of the year...
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...
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...
President Cyril Ramaphosa of South Africa: What we have learned and how Africa is responding to coronavirus
Dear Fellow South African,One thing we have learnt about the coronavirus over the last three months is...
President Trump wants to save the economy and Dr. Fauci wants to save lives, what should Americans choose amid coronavirus pandemic?
President Donald Trump wants to save the economy and Dr. Anthony Fauci wants to save lives. What should American choose amid...
The U.K. Prime Minister Boris Johnson has been admitted to the hospital as his coronavirus symptoms have continued to persist 10...
Nigerian actress Funke Akindele arrested for violating social distancing order amid coronavirus pandemic, police issue statement
The Lagos state police command confirmed the arrest of actress Funke Akindele in a statement.Police said she...