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Ivory Coast Seeks More IMF Funding to Aid Budget as Cocoa Slumps

Ivory Coast Seeks More IMF Funding to Aid Budget as Cocoa Slumps

Ivory Coast’s government said it is seeking more assistance from the International Monetary Fund to support the nation’s 2017 budget after cocoa prices slumped, hurting the finances of the world’s biggest grower. “With cocoa prices falling, we have some new budget constraints,” government spokesman Bruno Kone said by phone from the commercial capital, Abidjan, on […]

IMF Holds Talks With Zambia Over Possible Aid Programme

IMF Holds Talks With Zambia Over Possible Aid Programme

  The International Monetary Fund (IMF) said on Friday it held talks with Zambian authorities over the possibility of an aid programme, and said there was a range of facilities available for the southern African country. Zambia began talks with the IMF in March 2016 about a potential aid package after agreeing the budget deficit […]

Ghana Says IMF Deal Needs ‘Tweaking’After Shortfall Discovery

Ghana Says IMF Deal Needs ‘Tweaking’After Shortfall Discovery

Ghana’s debt bailout program with the International Monetary Fund may require “tweaking” after the nation’s new administration revealed that 7 billion cedi ($1.6 billion) in expenses were not accounted for by the previous government, the finance minister said. The country is in talks with the IMF and will seek to finalize an audit of the […]

Meet The New Person Heading The Africa Department At The IMF

Meet The New Person Heading The Africa Department At The IMF

The International Monetary Fund (IMF) has appointed a new head for its African department. Ethiopian Abebe Aemro Selassie succeeds Liberian Antoinette Sayeh in the role and is expected to begin his work in this capacity coming Monday, September 19, 2016. His appointment was announced in a press release in which IMF boss Christine Lagarde, spoke […]

IMF Grants Two-Year $3.5 Billion Credit Line To Morocco

IMF Grants Two-Year $3.5 Billion Credit Line To Morocco

The International Monetary Fund (IMF) has granted Morocco a two-year $3.5 billion credit line for structural reforms to prompt more rapid and inclusive economic growth, Rabat’s finance ministry said on Saturday. The Precautionary Liquidity Line (PLL) is meant for countries with relatively good economic policies that face balance of payments needs because of issues beyond […]

IMF Predicts Nigeria’s Economy Will Contract By 1.8 pct In 2016

IMF Predicts Nigeria’s Economy Will Contract By 1.8 pct In 2016

Nigeria’s economy, the biggest in Africa, is likely to contract by 1.8 percent this year, the International Monetary Fund (IMF) said on Tuesday, as the country grapples with the impact of low oil prices. The sharp fall in global prices since 2014 has led to a prolonged economic crisis since the crude sales make up […]

Can the IMF Really Drag Zimbabwe Out of Its Crisis?

Can the IMF Really Drag Zimbabwe Out of Its Crisis?

Zimbabwe’s coffers are empty. Salaries for the army and air force have been delayed for several weeks; and other civil servants will only receive their pay cheques by the middle of July. For the government and 92-year-old President Robert Mugabe, this latest cash crunch couldn’t have come at a worse time, as a fierce succession […]

The IMF Has Not Lived Up To Its Own Hype On Social Protection

The IMF Has Not Lived Up To Its Own Hype On Social Protection

The International Monetary Fund (IMF) seeks to promote growth and reduce poverty, but the social consequences of its reforms in the developing world have drawn much criticism. Yet, factsheets, discussion notes (pdf) and public statements tell us that the IMF is now a changed institution. Taking on board the many criticisms of its practices, the […]

Mozambique: Bar Association Demands Transparency Over Debt

Mozambique: Bar Association Demands Transparency Over Debt

The Mozambican Bar Association (OAM) has added its voice to those demanding that the government release the full details of the country’s public debt, following the revelation that over a billion dollars worth of government guaranteed debt was not disclosed, either to the International Monetary Fund (IMF) or to the Mozambican taxpayers. A statement from […]

2016 Risks Becoming The Year Of All Dangers For Africa

2016 Risks Becoming The Year Of All Dangers For Africa

For the past three weeks, most of the news coming from Africa has been negative. Dramatic images of terrorist attacks in Ivory Coast and Mali played out on TV, as did national elections in Niger, Benin and Congo, held in a climate of popular resentment and very low turnout. However, this is only the tip […]

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