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Algerian economy to improve in 2018—PM

Algeria’s economy will improve this year as revenue from the oil sector and natural gas picks up, Prime Minister Ahmed Ouyahia said on Saturday. Oil and natural gas exports of the OPEC member increased 25 percent to $7.1 billion in the first two months of 2018, up from $5.67 billion in the same period a […]

Mauritania inks nearly $17 million loan agreement with IMF

The International Monetary Fund (IMF) has concluded an agreement of $16.56 million with Mauritania as the West African nation’s economic recovery has been confirmed with growth estimated at 3.5% in 2017 and 2018. According to the international lender, the Sahel nation’s international reserves reached $849 million at the end of 2017 and the budget achieved […]

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Ghana to adopt new tax collection system as it exits IMF

The Ghanaian Revenue Authority (GRA) has been asked to put in place an effective tax collection system to make it easier for those in the informal sector to pay their taxes as the gold-rich nation plans to exit from the International Monetary Fund. According to Bloomberg, the West African nation needs to increase revenue as […]

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São Tomé and Príncipe gets $10 million boost from the World Bank

The World Bank will provide about $10 million to finance social projects in São Tomé and Príncipe. The projects will help the West African archipelago reduce social inequalities and fight poverty in the next 5 years, Éric Sapatéro, a World Bank official said. Half the amount will finance social housing projects, while the other five […]

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Sierra Leone: 16 candidates eyeing country’s top job

Voters in Sierra Leone will head to the polls on Wednesday to choose a replacement for President Ernest Bai Koroma, who is stepping down after 10 years as president, and to elect a new parliament. Sixteen candidates are contesting the presidential elections while 789 candidates are competing for the 144 seats of the parliament. Voters […]

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South Africa’s new president vows to fight corruption

South Africa’s vice-President Cyril Ramaphosa was sworn in as head of state on Thursday, a day after corruption-plagued Jacob Zuma resigned as President of the African most industrialized nation. Immediately after the swearing-in ceremony, the former union leader, vowed to fight corruption in a direct reference to accusations levelled against his predecessor, Jacob Zuma. He […]

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Ghana has ‘no reason’ to return to IMF – President Nana Akufo-Addo

Ghana’s President Nana Akufo-Addo said in his annual state of the nation speech on Thursday that his government had buckled down on mismanagement and will not return to the International Monetary Fund for help. According to Akufo-Addo, the macroeconomic fundamentals are solid and all the critical indices are pointing the West African nation’s economy in […]

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Nigeria to raise $2.5 billion through Eurobonds

Nigeria will raise $2.5 billion through Eurobonds in the first quarter, the Debt Management Office (DMO) said on Thursday. According to the head of the DMO, Patience Oniha, the country will also try to get back into the JP Morgan Government Bond Index (GBI-EM), with improving liquidity in the local currency market. The African most […]

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IMF cuts South Africa’s growth as Lagarde meets Ramaphosa

IMF chief Christine Lagarde has met South African Deputy President Cyril Ramaphosa in Davos on Wednesday on the sidelines of the World Economic Forum. The meeting comes a day after the Washington-based lender revised downwards South Africa’s economic growth because of rising political uncertainty. The IMF projects the country’s economy to grow by 0.9% over […]

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Côte d’Ivoire: Gunfire at military camps in Bouake

Heavy gunfire erupted at two military barracks in Côte d’Ivoire’s second largest city, Bouake, local media reported late on Tuesday. Early last year, Côte d’Ivoire was shaken by successive uprisings by low-ranking troops. Bouake was the epicenter of the army mutinies. The mutineers are understood to mainly be former rebels who were integrated into the […]

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