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Guinea: IMF Approves $25.2 Million Disbursement

The International Monetary Fund (IMF) on Wednesday approved a $25.2 million disbursement for Guinea to help the West African nation revive an economy that was ravaged by a slump in its key export commodities. The West African country is a major producer of bauxite, an aluminium ore, but growth has slowed due to a slump […]

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Mozambique to Conduct External Audit of Debt

Mozambique Finance Minister Adriano Maleiane on Wednesday said the government of the southern African nation is committed to carrying out an independent international audit to bring transparency to government debt that stands at $11.2 billion. Adriano Maleiane who was speaking to investors in the capital Maputo said the country faces huge short term fiscal challenges […]

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Botswana: GDP Growth Estimated at 4.4% for Next 6 Years

Botswana’s National Development Plan presented to Parliament on Wednesday indicated that the southern African nation’s economy will grow by an average of 4.4 percent annually from April 2017 to March 2023. According to the document, the diamond-rich country will introduce a new fiscal rule next year that will see its diamond producers save 40 percent […]

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Zimbabwe Targets 4.8% GDP Growth in 2017

Zimbabwe’s economy is projected to rebound from 1.2 percent growth to 4.8 percent next year, driven by a cocktail of reforms, improved agriculture production and higher commodity prices, the treasury announced on Tuesday. The country which has been led by President Robert Mugabe since 1980 is currently experiencing a liquidity crisis that led to limits […]

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Malawi’s President Returns Home after Month-Long Absence

Malawian President Peter Mutharika returned home on Sunday after an unexplained trip to the United States that lasted several weeks, sparking a lot of rumors and allegations that he was hospitalized in the US. The 76-year-old president made no public remarks at the airport – and used his left hand to wave to a crowd […]

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Tanzania Gets $259 mln Funding for Power Grid

The African Development Bank and the Japan International Cooperation Agency have granted $258.82 million to Tanzanian government for a high voltage electricity line to connect its national power grid to Kenya, it was officially announced on Sunday. The 400 kilovolt (kV) line will be completed within two years, Tanzania’s power utility TANESCO said in a […]

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Namibia’s Economic Growth Slowing – IMF

Slow budgetary consolidation efforts by authorities as well as a slowdown in the buildings and public works sector could put the brakes on Namibia’s economy, IMF said on Thursday. According to the Washington-based International lender, Namibia’s economic growth is likely to drop this year from 5.3 percent in 2015 to 2.5 percent. IMF officials equally […]

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Ethiopian to Head IMF’s Africa Department

The International Monetary Fund (IMF) on Thursday appointed Ethiopian Abebe Aemro Selassie as the new head for its African department. Selassie’s appointment was announced in a press release in which IMF boss Christine Lagarde said the economist will succeed Liberian Antoinette Sayeh in the position on Monday, September 19, 2016. “The IMF remains deeply committed […]

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Mozambique: IMF Official Appointed Central Bank Governor

Rogerio Lucas Zandamela, a senior International Monetary Fund official has been appointed as governor of the central bank of Mozambique, the presidency said in a statement on Wednesday. Zandamela, who holds a PhD from Johns Hopkins University and is currently head of mission to Djibouti and Somalia for the IMF, will replace Ernesto Gove, whose […]

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Egypt requests $7bn assistance from IMF to ‘plug funding gaps’

Egypt has officially requested financial assistance from the International Monetary Fund (IMF) to help straighten its ailing economy, the Bretton Wood institution announced on Tuesday. “The Egyptian authorities have asked the IMF to provide financial assistance to support their economic program,” Masood Ahmed, director of the Middle East department at the IMF, said in a […]

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