Economy

IMF approves disbursement of $43.2 million to Madagascar, part of $347 million loan secured in 2016 and 2017 under ECF

The International Monetary Fund (IMF) on Wednesday approved the disbursement of $43.2 million to Madagascar, part of $347 million loan secured in 2016 and 2017 under the extended credit facility. An extended credit...

IMF: Ethiopia’s economy strong, reserves to hit $4 billion but exports weak, inflation high and forex shortages persist

The International Monetary Funds (IMF) said on Tuesday the economy of Ethiopia in East Africa was strong with sustained reserves expected to hit $4 billion and efforts to reduce poverty heading in the right direction, however,...

IMF reaches preliminary agreement with Somalia on new three-year loan but arrears must be cleared first

The International Monetary Fund (IMF) has reached a preliminary agreement with Somalia on a new three-year loan under an extended credit facility (ECF) and an extended fund facility (EFF). The preliminary agreement is...

African Development Bank President Akinwumi Adesina opens trading on London Stock Exchange

Don Robert, Chairman of London Stock Exchange Group, welcomed the president of the African Development Bank Akinwumi Adesina to open markets for trading at London Stock Exchange on Wednesday 22 January. The reception...

IMF approves disbursement of $76.1 million to Cameroon, warns country at high risk of debt distress

The International Monetary Fund (IMF) on Wednesday approved the disbursement of $76.1 million to Cameroon, part of $666.1 million loan secured in 2017 under an extended credit facility (ECF) arrangement. An extended credit...

Marathon Oil to increase investment in Equatorial Guinea following meeting with President Obiang

Marathon Oil Corp, one of the biggest energy investors in Equatorial Guinea, has committed to increase its investment in the required infrastructure to support the Government’s vision for the Gas Mega Hub and the Year of...

Ride the wave of the African Continental Free Trade Area, African Development Bank president Adesina Urges UK investors

Africa is on the cusp of unmatched economic transformation, and the UK must engage in a “partnership of change,” African Development Bank President Akinwumi Adesina said Tuesday in a keynote address at a UK Parliamentary Symposium....

African leaders, British Prime Minister, urge investors to accelerate economic role on the continent

UK companies must leap at the chance to deepen economic ties with Africa, a continent with unmatched investment opportunities, several African leaders said at a high-level panel. https://www.youtube.com/watch?v=kfWWltVNKw4

Full remarks as IMF’s Kristalina Georgieva warns inequality threatening global financial stability

Ms Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) on Friday warned that inequality and financial sector instability were threatening to throw the world back into the great depression of the 1920s.

IMF: Rwanda’s economic performance under Kagame remains strong with growth beating expectations

The International Monetary Fund (IMF) said on Friday that Rwanda’s macroeconomic performance was strong and would remain that way over the next two to three years. According to the IMF, the economic growth...

Latest News

Kristalina Georgieva on TED: How to rebuild the global economy after COVID-19

In a virtual conversation recorded on May 18, 2020, and hosted by head of TED Chris...

Akinwumi Adesina to step back as African Development Bank agrees to probe him again after Trump administration pressures

The African Development Bank’s board has agreed to open a fresh independent investigation of its President Akinwumi Adesina following pressures from the...

Trump administration asks African Development Bank to re-investigate its embattled President Akinwumi Adesina accused of nepotism and favoritism

The Donald Trump administration has written the African Development Bank, urging the continent’s biggest multilateral lender to reopen an investigation into...

African Development Bank: Tolling Bells for Humanity – Perspectives by Equatorial Guinea’s Minister of Finance Cesar MBA ABOGO

COVID-19 is severely testing Africa's social, economic and political resilience. While it is true that our countries are taking bold actions to...

African Development Bank approves €188m ($204m) loan for Mauritius to respond to COVID-19

The African Development Bank has approved €188 million ($204 million) loan for Mauritius to respond to the COVID-19 pandemic, the Group’s Board of Directors said...

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