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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

IMF

26 Results / Page 1 of 3

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Africa

IMF Calls for Economic Reforms in Sub-Saharan Africa to Boost Growth

Sub-Saharan African countries reliant on commodity exports must implement economic reforms to address uneven regional growth, stated Abebe Aemro Selassie, the International Monetary Fund's Africa Director. Reuters reports that the IMF's latest World Economic Outlook reveals that the region's growth is projected at 3.6% this year, consistent with last year's figures and lower than the April forecast of 3.8%. Commodity-dependent economies are notably underperforming compared to their more diversified counterparts.

todayOctober 28, 2024 6

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Africa

Kenya could run out of money to repay massive debts: how to avoid this

    By Odongo Kodongo, University of the Witwatersrand   Data from Kenya’s central bank show that public debt (total money owed) declined between December 2023 and June 2024. The drop in external debt – by 15.4 % – over this period does not mean that the country’s overall finances have improved. Rather, it is due to the gains in the value of the Kenyan shilling, thanks to pervasive state […]

todaySeptember 17, 2024 19

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Africa

Nigeria’s planned protests: What we know

      By Laurie Churchman with Aminu Abubakar in Kano Politicians and the army have warned people against taking to the streets, but organisers say government failings have left them little choice. Both sides have made comparisons with recent protests in Kenya that forced the government to withdraw new taxes, but it is not clear what shape the rallies could take in Nigeria. With demonstrations set to start on […]

todayJuly 29, 2024 21

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Business / Economics

Egypt raises fuel prices as part of IMF-backed reforms

      Egypt announced Thursday a 15-percent increase in petrol prices, part of a reform package requested by the International Monetary Fund to proceed with a $5 billion loan to the cash-strapped government. The Egyptian petroleum ministry said the price hike would come into effect on Friday. The announcement comes ahead of an IMF meeting on Monday to review the April payout package, unlocking $820 million in funds after […]

todayJuly 25, 2024 10

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Business / Economics

IMF projects Namibia’s GDP growth to slow to 3.6% in 2024

The International Monetary Fund forecasts that real GDP growth in Namibia will slow to 3.6% in 2024, owing to global macroeconomic headwinds and tight monetary conditions. The fund released its World Economic Outlook Update on 16 July 2024. Similarly, the African Development Bank forecasts a decline in GDP to 3.3% for both 2024 and 2025, driven by weak global demand and a contraction in agriculture.

todayJuly 17, 2024 39

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Africa

The IMF is failing countries like Kenya: why, and what can be done about it

        By Danny Bradlow, University of Pretoria     The recent Kenyan protests are a warning that the International Monetary Fund (IMF) is failing. The public does not think it is helping its member countries manage their economic and financial problems, which are being exacerbated by a rapidly changing global political economy. To be sure, the IMF is not the only cause of Kenya’s problems with raising […]

todayJuly 3, 2024 10

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Africa

Mauritius’ next growth phase: a new plan is needed as the tax haven era fades

      By Pritish Behuria, University of Manchester     Mauritians will head to the polls by November 2024 and politicians are considering the economic direction of the island country. For the last two decades, the country’s economic growth has depended heavily on its offshore sector – the provision of financial services by banks to foreign firms. As an isolated country located in the south-western Indian Ocean, Mauritius has […]

todayJune 18, 2024 28

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South Africa

South Africa will be president of the G20 in 2025: two much-needed reforms it should drive

      By Danny Bradlow, University of Pretoria     South Africa will play an important international role in 2025 as president of the G20. The G20 is a group of 19 countries as well as the African Union and the European Union. Between them they represent 85% of global economy, 75% of world trade and 67% of global population. The G20 defines itself as the premier multilateral forum […]

todayMay 15, 2024 24

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Africa

Zambia begins debt restructuring process

Zambia’s international bondholders should quickly complete the restructuring of the notes after the government announced the start of the process, says International Monetary Fund Managing Director Kristalina Georgieva. Bloomberg Africa reports that the government of Africa’s first pandemic-era sovereign defaulter will meet eurobond investors on June 4th to ask them to approve exchanging what’s grown to almost $3.9 billion of debt for new instruments.

todayMay 14, 2024 12

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