Economy

IMF approves $115.1 million three-year loan to Central African Republic under ECF

The executive board of the International Monetary Fund (IMF) on Friday approved $115.1 million three-year loan for the Central African Republic under an extended credit facility. The board also approved an immediate disbursement of $16.4 million.

Comoros’ economy expected to rebound, IMF says in fresh assessment

The International Monetary Fund (IMF) said on Friday the economy of Comoros was expected to rebound, despite a devastating cyclone in April and difficulties at several state-owned enterprises.Growth was expected to rebound between 4...

UPDATED: IMF approves release of $24.9 million to Burkina Faso, part of $157.6 million loan secured in 2018 under ECF

The executive board of the International Monetary Fund (IMF) on Friday approved the release of $24.9 million to Burkina Faso, part of 157.6 million loan secured in 2018 under an extended credit facility (ECF) arrangement.An extended...

IMF approves $282.8 million loan for Equatorial Guinea with immediate disbursement of $40.4 million

The executive board of the International Monetary Fund (IMF) on Wednesday approved $282.8 million three-year loan for Equatorial Guinea under an extended fund facility (EFF) arrangement, with an immediate disbursement of $40.4 million.

Central Africa’s economy improves but remains fragile, IMF says, suggests reforms

The International Monetary Fund (IMF) said on Wednesday the economic situation of the Central African Economic and Monetary Community (CEMAC) has improved but remains fragile, adding that reforms to support a more diversified and inclusive growth,...

Kristalina Georgieva ecstatic after IMF board approves financing plan for Somalia debt relief

The Managing Director of the International Monetary Fund (IMF), Ms. Kristalina Georgieva, was estatic on Wednesday, after the IMF Executive Board approved a financing plan to cover its share of debt relief to Somalia.

Seychelles’ economic growth on strong path, IMF says after thorough review

The economy of Seychelles is growing strong as expected, and is estimated to reach about 4 percent growth in 2019, reflecting strong output in the tourism and communication sectors, the International Monetary Fund (IMF) said in...

President Buhari welcomes proposal by Hyundai to set up car plant in Nigeria

Nigeria will collaborate with and support Hyundai Engineering Company Limited to set up a car plant, and also rehabilitate petroleum refineries, President Muhammadu Buhari has said.Receiving the President/Chief Executive Officer of Hyundai...

Nigeria Senate begins consideration of Buhari’s loan request

The Nigerian Senate on Tuesday referred President Muhammadu Buhari’s 2016 – 2018 External Borrowing Plan request to its Committee on Local and Foreign Debts.The President’s request was forwarded to the Committee for...

IMF approves release of $368.4 million to the Democratic Republic of the Congo under rapid credit facility

The executive board of the International Monetary Fund (IMF) on Monday approved the release of $368.4 million to the Democratic Republic of Congo under the Rapid Credit Facility (RCF) to enable the central African nation meet...

Latest News

South Africa launches $6 billion COVID-19 employment stimulus

South Africa has launched a $6 billion (R100 billion) COVID-19 employment stimulus to be implemented over...

Sub-Saharan Africa faces difficult road to recovery amid COVID-19 economic fallout, IMF says in latest economic outlook

Sub-Saharan Africa is facing a difficult road to recovery amid COVID-19 economic fallout, the International Monetary Fund (IMF) said in its...

IMF approves additional $156 million disbursement to Cameroon to respond to COVID-19 economic fallout

The International Monetary Fund (IMF) on Wednesday approved an additional $156 million disbursement to Cameroon to respond to COVID-19 economic fallout.

Half of women in the world are jobless, UN says in shocking new report

Less than 50% of working-age women are in the labour market, a figure that has barely changed over the last quarter...

South Africa launches $6 billion COVID-19 employment stimulus

South Africa has launched a $6 billion (R100 billion) COVID-19 employment stimulus to be implemented over the next three years.

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