Economy

African countries will require continued financial support to overcome coronavirus economic turmoil, argue IMF’s Kristalina Georgieva and Gita Gopinath

Even after the novel coronavirus pandemic had been successfully defeated, or at least brought under control, low-income countries, many in Sub-Saharan Africa, will require continued financial support from the international community to overcome the economic turmoil...

World’s finance ministers meet to respond to COVID-19 economic fallout

World's finance ministers are coming together at a High-Level Meeting of Finance Ministers and provide their views on a menu of policy options to address the urgent financing for development crisis...

African Union dismayed by ill treatment of African migrants in Middle East

The African Union said on Tuesday it was dismayed by the ill treatment of African migrants in the Middle East.The African Union Commission said while the root causes might be different in...

South Africa’s economy contracts by 16.4 percent in second quarter amid coronavirus pandemic

President Cyril Ramaphosa says the decrease in South Africa’s gross domestic product during the second quarter of 2020 reflects the severe impact of the global coronavirus pandemic on the economy and should spur all South Africans...

West African leaders attend ECOWAS summit in Niger to discuss COVID-19, single currency, terrorism and democracy

West African leaders would gather in person on Monday in Niamey, the capital of Niger Republic, to participate in the Fifty-Seventh Ordinary Session of the ECOWAS Authority of Heads of State and Government.

The economic cost of racism

Addressing systemic racism is a moral imperative; it can also make economies stronger, Joseph Losavio, a specialist on cities, infrastructure, and urban services at the World Economic Forum, says in this opinion article titled "What racism costs...

Zimbabwe to return seized farms to white owners

Zimbabwe says it will return seized farms to their white owners. Most of the farms were taken over during violent protests to redress colonial-era land seizures.The farm seizures, which affected about 3500...

African Development Bank President sets bold agenda in inaugural address

The African Development Bank President Akinwumi Adesina on Tuesday set a bold agenda for the next five years."As we look to the future, working with the Board of Directors, the Bank...

IMF economists warn low-income developing countries should get help now or risk ‘lost decade’ amid COVID-19

Three economists at the International Monetary Fund (IMF) have warned that low-income developing countries should get help now or risk a lost decade amid the still raging coronavirus pandemic.In their blog post...

Middle East and North Africa’s billionaires’ wealth increased by $10 billion since COVID-19 crisis began, enough to pay Beirut blast repair bill

The 21 billionaires in the Middle East and North Africa (MENA), all of them men, saw their wealth increase by nearly $10 billion since the start of the COVID-19 crisis, almost double the estimated amount required...

Latest News

Principality of Andorra becomes IMF’s 190th Member

The Principality of Andorra joined the International Monetary Fund (IMF) on Friday, becoming the Fund's 190th...

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.

Principality of Andorra becomes IMF’s 190th Member

The Principality of Andorra joined the International Monetary Fund (IMF) on Friday, becoming the Fund's 190th member.Ambassador...

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