Economy

IMF reaches preliminary agreement with The Gambia on $48 million loan under extended credit facility

The International Monetary Fund (IMF) said on Tuesday it had reached a preliminary agreement with The Gambia on a $48 million loan under a three-year extended credit facility.An extended credit facility (ECF) allows...

Mozambique’s economy recovering from cyclones Idai and Kenneth – IMF Deputy Managing Director Tao Zhang

The economy of Mozambique is recovering well from the effects of Tropical Cyclones Idai and Kenneth last year, but for growth to accelerate and become more inclusive, economic policies should remain prudent while reforms continue, said...

David Malpass, Kristalina Georgieva warn against rushed, secretive and non-transparent loans in Africa, ‘indict’ African Development Bank, China, others

The World Bank President David Malpass and the Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva have warned against rushed, secretive, non transparent loans to low-income countries, including in Sub-Saharan Africa.

Lesotho’s economy remains sluggish as political uncertainty grows and drought hits hard, IMF says

Lesotho, a small kingdom surrounded completely by South Africa, has been making international news for sometime now, especially after the wife of the country's Prime Minister was charged last week with killing his ex-wife just two...

Africa economic outlook for year 2020 lauded at African Union Summit in Addis

The African Development Bank’s African Economic Outlook 2020 was praised at the 33rd African Union Summit in Addis Ababa for being an effective blueprint for addressing the continent’s human capacity gap.The 2020 edition of the...

IMF Deputy Managing Director Tao Zhang visits Botswana, announces stronger ties

The International Monetary Fund (IMF) is looking forward to strengthening partnership and collaboration with Botswana and its people, IMF Deputy Managing Director, Mr. Tao Zhang, said on Friday after visiting Gaborone, Kasane, and surroundings, including the...

JUST IN: First Deputy Managing Director David Lipton Leaving IMF, Chief Administrative Carla Grasso leaving also as Kristalina Georgieva announces major leadership changes

The International Monetary Fund (IMF) Managing Director Kristalina Georgieva announced on Friday that David Lipton, First Deputy Managing Director (FDMD), would be leaving the Fund at the end of February in the context of changes she...

African Development Fund approves $34.74 million green energy loan to Liberia and calls it grant

The African Development Fund has approved $34.74 million loan to Liberia to invest in green energy. The bank called the loan a grant and did not provide repayment conditions, including interest rates.The...

IMF European Director Poul Thomsen to retire

The International Monetary Fund (IMF) Managing Director Kristalina Georgieva announced on Monday that Poul Thomsen, European Department Director, will retire at the end of July.“Poul has worked closely...

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...

Latest News

UN calls for bold action for world to recover from COVID-19

Amidst a crisis unlike any other in our lifetimes, with COVID-19 destroying lives and livelihoods across...

UN calls for bold action for world to recover from COVID-19

Amidst a crisis unlike any other in our lifetimes, with COVID-19 destroying lives and livelihoods across the globe, the 75th session...

Top UN economists warn of crises of our own making if global “megatrends” left unchecked

Five human‑made “megatrends” will  continue to  dominate and frustrate global efforts to put the world on a more sustainable and prosperous...

IMF approves disbursement of additional $1 billion for Angola to respond to COVID-19 economic fallout

The International Monetary Fund (IMF) on Wednesday approved the disbursement of an additional $1 billion for Angola to respond to...

World leaders welcome launch of GCA Africa to beat climate change

The Global Center on Adaptation on Wednesday announced the launch of its regional office in Côte d’Ivoire.Hosted...

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