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Former President Ellen Sirleaf Gets On IMF Advisory Post

Former President Ellen Sirleaf Gets On IMF Advisory Post

IMF Director Christine Lagarde on former President of Liberia, Ellen Johnson Sirleaf : “As we embark on the CSR, we are proud to have access to the expertise of… eminent people”. The International Monetary Fund (IMF) has named former President Ellen Johnson-Sirleaf as a member on one of its external advisory groups on surveillance. The […]

IMF Urges Nigeria To Review Tax Policies

IMF Urges Nigeria To Review Tax Policies

The International Monetary Fund, IMF, yesterday urged Nigeria to urgently review the country’s tax policies by widening the tax base and increasing compliance on Value Added Tax, VAT. Speaking at a panel session on ‘Leveraging Dom Amine Mati estic Resource Mobilisation for Sustainable Development,’ at the 2018 Nigerian Economic Summit, NES, in Abuja, yesterday, Mission […]

Zimbabwe Aims To Clear World Bank, AfDB Arrears In 12 months – Minister

Zimbabwe Aims To Clear World Bank, AfDB Arrears In 12 months – Minister

Zimbabwe aims to clear its $2 billion arrears with the World Bank and African Development Bank in the next 12 months, after securing the support of international creditors and donor countries, Finance Minister Mthuli Ncube said on Friday. Zimbabwe has struggled to access international credit since defaulting on its debts to global lenders two decades […]

S.Africa’s Economic Growth Faces Risks From Public Debt, State Firm Bailouts – IMF

S.Africa’s Economic Growth Faces Risks From Public Debt, State Firm Bailouts – IMF

The International Monetary Fund on Monday kept South Africa’s economic growth forecast for 2018 unchanged at 1.5 percent but warned that the economy faced several headwinds, mainly the rapid rise in public debt and potential bailouts to state firms. “The IMF’s concerns on fiscal policy relates to the rapid increase in public debt as a […]

IMF says Cameroon’s Economic Growth To Rise To 4 Percent in 2018

IMF says Cameroon’s Economic Growth To Rise To 4 Percent in 2018

Cameroon’s economy is expected to grow 4 percent this year, up from 3.2 percent in 2017 due to the start of natural gas production and construction work for an upcoming soccer tournament, the International Monetary Fund (IMF) said.   Growth was slower in 20 17 because of a sharp decline in oil output but new […]

IMF Warns Of Rising African Debt Despite Faster Economic Growth

IMF Warns Of Rising African Debt Despite Faster Economic Growth

Sub-Saharan African nations are at growing risk of debt distress because of heavy borrowing and gaping deficits, despite an overall uptick in economic growth, the International Monetary Fund warned on Tuesday. The sober assessment comes as African countries continue to tap international debt markets and issue record levels of debt in foreign currencies, spurred on […]

Egypt Population Surge Must Be Met with Job Growth, IMF Says

Egypt Population Surge Must Be Met with Job Growth, IMF Says

Egypt needs to embrace policies that strengthen the private sector and promote job growth in order to cement the gains realized from sweeping economic revival efforts, the International Monetary Fund said. At the same time, the government can’t afford to delay in moving ahead with cuts in costly energy subsidies or risk straining the budget […]

IMF Approves New Three-year Loan Arrangement For Malawi

IMF Approves New Three-year Loan Arrangement For Malawi

The International Monetary Fund (IMF) has approved a new three-year $112.3 million loan arrangement for Malawi to assist the southern African country’s economic and financial reforms. In a statement late on Monday, the IMF said the approval would enable the immediate disbursement of about $16 million, with the remaining amount to be phased over the […]

Zimbabwe Committed To Clearing Debt Obligations

Zimbabwe Committed To Clearing Debt Obligations

Zimbabwe is committed to clearing its debt obligations with the World Bank, African Development Bank and other financial institutions, Foreign Minister Sibusiso Moyo said on Monday. The country needs to clear about $1.8 billion in arrears with the World Bank and the African Development Bank before it can tap other sources of development financing. “We […]

Uganda Joins Africa’s Big-Debt Club, Central Bank Warns On Default

Uganda Joins Africa’s Big-Debt Club, Central Bank Warns On Default

Uganda’s national debt has nearly trebled in the last three years to more than 50 percent of gross domestic product, creating a risk of default risk, since nearly two-thirds of that borrowing is external, the central bank said. In a report titled “State of the Economy” published late on Thursday, the Bank of Uganda said […]

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