“The IMF Board is voting on its third loan to Cameroon since the start of the pandemic in the midst of a Covid-19-related corruption scandal and violent crisis roiling the country’s English-speaking regions with a devastating impact on people’s right to health,” said Sarah Saadoun, senior business and human rights researcher at Human Rights Watch. “When badly-needed aid is being squandered or stolen, it would be irresponsible for the IMF to approve another loan without safeguards to ensure that the money goes where it is intended.”
U.S. pension funds have approximately $18.8 trillion under management, but less than one percent is invested in Africa. This investment gap represents a missed opportunity given that Africa was home to more than half of the world’s 10 fastest growing economies last year, the continent has one billion consumers, and over the next two decades, its workforce will grow to contain 1.1 billion people, making it the largest on the planet.
The Biden administration is thrilled that unemployment insurance claims have fallen by more than 50% - from more than 834,000 to 402,500, a significant indicator that the economy is recovering faster than previously projected.
The Executive Board of the International Monetary Fund (IMF) on Wednesday approved an immediate release of about $772 million to Angola, bringing total disbursements under the current loan arrangement to $3.9 billion.
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