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Emefiele Expects Rate to Be Held Next Week

Emefiele  Expects Rate to Be Held Next Week

Nigeria’s central bank governor expects the Monetary Policy Committee to hold its main interest rate at next week’s meeting. “I don’t think rates will change,” Godwin Emefiele said in an interview in Abuja, Nigeria’s capital, Wednesday. “Normally, when you begin the year, what you find is that you want to hold the policy rate steady.” […]

No Gender Discrimination At Work In Nigeria – Senator Chris Ngige

No Gender Discrimination At Work In Nigeria – Senator Chris Ngige

THE Federal Government through the Minister of Labour and Employment, Senator Chris Ngige, has dispelled the fear of gender-based discrimination in Nigerian workplaces as expressed by the International Monetary Fund, IMF, Article IV Consultation Team. The Minister spoke while receiving an IMF team led by its Economist, Western 1 Division, Africa Department, Mrs Monique Newiak, […]

Guinea Gets Staff-level Approval For 3-year IMF Deal

Guinea Gets Staff-level Approval For 3-year IMF Deal

The International Monetary Fund said on Tuesday it had reached a staff-level agreement with Guinea for a three-year programme of reforms with backing from the lender of last resort’s Extended Credit Facility (ECF). The agreement still requires approval from the IMF’s Executive Board, which is expected to consider it next month. An IMF statement said […]

IMF Sees No ‘Substantive’ Zambian Aid-Deal Talks This Month

IMF Sees No ‘Substantive’ Zambian Aid-Deal Talks This Month

The Zambian government and the International Monetary Fund won’t be holding meaningful discussions on a proposed $1.3-billion aid program at the Washington-based lender’s annual meetings this month after talks were put on hold in August. The nation’s Eurobond yields climbed. “IMF staff will be meeting the Zambian delegation at the IMF-World Bank annual meetings to […]

IMF Approves One-Year Extension to Ghana’s Credit Program

IMF Approves One-Year Extension to Ghana’s Credit Program

The International Monetary Fund has approved a one-year extension of Ghana’s $918 million credit-facility program after a review of the nation’s progress on monetary and fiscal reforms. The extension will give the West African nation more time to achieve targets such as narrowing the budget shortfall. The IMF approved a payment of $94.2 million to […]

IMF Approves $312 million 3-year Credit For Chad

IMF Approves $312 million 3-year Credit For Chad

The International Monetary Fund has approved a $312 million three-year credit programme for Chad to help boost an economy hit by low oil prices, big debt and lasting security issues. The Extended Credit Facility, $48.8 million of which will be made available immediately, aims to help diversify the economy away from oil, reduce debt and […]

Egypt’s Cabinet Approves $2.48 Billion Social Aid Program

Egypt’s Cabinet Approves $2.48 Billion Social Aid Program

The Egyptian government approved a social spending plan to support lower and middle income families after inflation surged to the highest levels in decades following the flotation of the pound. The government plans to spend 45 billion Egyptian pounds ($2.48 billion) on income tax discounts, bonuses for public employees, and increased pension payments and cash […]

IMF Team In Cairo To Review Second Installment Of $12-billion Loan

IMF Team In Cairo To Review Second Installment Of $12-billion Loan

An International Monetary Fund (IMF) delegation will arrive in Cairo on Sunday to review Egypt’s progress on economic reforms before it disburses the second instalment of a $12-billion loan programme, the Finance Ministry said. The IMF delegation will stay until May 11 and meet with officials from the ministry and the central bank, the ministry […]

IMF to Return to Zambia in May to Continue Loan Talks

IMF to Return to Zambia in May to Continue Loan Talks

  The International Monetary Fund will send a mission to Zambia in May to continue talks over as much as $1.6 billion in aid the government is seeking after they failed to reach a deal in Washington this month. “Progress was made but program discussions have not yet been concluded,” Alfredo Baldini, the fund’s representative […]

Zambia Seeks IMF Deal of as Much as $1.6 Billion This Month

Zambia Seeks IMF Deal of as Much as $1.6 Billion This Month

Zambia, Africa’s second-largest copper producer, plans to reach an aid deal for as much as $1.6 billion with the International Monetary Fund by the end of April, Finance Minister Felix Mutati said. Bond yields fell. “At the moment we know that we can get up to $1.6 billion — if you ask me, I’d go […]

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