Economy

Nigeria requests IMF loan amid COVID-19 economic turmoil, IMF Managing Director Kristalina Georgieva says

The Managing Director of the International Monetary Fund (IMF) Ms. Kristalina Georgieva warned on Tuesday that the Nigerian economy was under threat by "twin shocks", and the government had requested a financial assistance from the Fund.

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...

IMF may lift Senegal’s COVID-19 response with $221 million

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.

IMF approves $23.5 million disbursement for Guinea amid coronavirus economic turbulence

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...

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.
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PHOTO NEWS: Nigeria senate president and House of Reps Speaker step up fight against spread of coronavirus

President of the Senate, Ahmad Lawan, making an opening remark at a meeting between the Leadership...
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Nigeria requests IMF loan amid COVID-19 economic turmoil, IMF Managing Director Kristalina Georgieva says

The Managing Director of the International Monetary Fund (IMF) Ms. Kristalina Georgieva warned on Tuesday that the Nigerian economy was under...

Trump attacks WHO day after its black Director General condemned extremely racist comments made by two white French doctors that Africa should be testing...

U.S. President Donald Trump on Tuesday attacked the World Health Organization (WHO) a day after its black Director General, Ethiopian Dr....

Atiku Abubakar: What Africa must do to mitigate the damaging effects of coronavirus

Before the novel coronavirus pandemic hit the globe, Nigeria spent 42% of her earnings on debt servicing. We have arrived at...

Africa remembers genocide against the Tutsi in Rwanda 26 years ago

The chairperson of the African Union Commission Moussa Faki Mahamat has written a moving letter to Africans on the 26th commemoration...
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