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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 […]

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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Nigeria to raise $700 mln from international sources

The Debt Management Office (DMO) of Nigeria on Tuesday said it expects to raise $700 million from international sources as part of a $3.5 billion in borrowing for the 2017 budget. Late last year, Nigerian lawmakers approved the government’s $74 billion expenditure plan for the next three years. President Muhammadu Buhari’s administration has proposed a […]

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Chad cancels plans to cut civil servants’ salaries

The Chadian government has decided to suspend a controversial cut in the salaries of civil servants, Prime Minister Albert Pahimi Padacké said on Wednesday. The government U-turn comes after labor unions in the central African nation have reacted angrily to the government’s plan to slash civil servants’ salaries. According to a decree signed early January […]

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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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Sudan inks agreement with Saudi Arabia to restore banking ties

Sudan and Saudi Arabia will soon re-establish banking relations, to help restore confidence in Sudan’s economy after the lifting of U.S. economic sanctions, the state-run news Agency, SUNA, reported. According to SUNA, the two nations have signed an agreement in Riyadh to allow banking transactions between the two countries. United States has lifted decades-old sanctions […]

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Oil-dependent Gabon economy grew 0.8% in 2017 – IMF

The International Monetary Fund on Thursday downgraded Gabon’s economy growth forecast of 2017 form 1 percent to 0.8 percent. The international lender expects growth to rebound to 2.7 percent next year due to recovering oil prices. The central African oil-rich nation has been hard hit by a more than 50-percent drop in oil prices since […]

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IMF says more work needed before Congo’s debt-plagued economy bailout

The International Monetary Fund (IMF) has concluded its negotiation mission in Congo without reaching an agreement on an assistance package, the Washington-based international lender said in a statement. The IMF said it was encouraged by Congo’s draft 2018 budget and the progress made in formulating medium-term macroeconomic and structural policies it could support, but more […]

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Senegal: IMF forecasts stronger growth for third year in a row

Senegal’s GDP growth is expected to exceed 6 percent in 2017, mainly driven by services, tourism and agriculture, the International Monetary Fund said in a statement on Monday. The country is among the fastest growing economies in Africa. In 2016, Sub-Saharan economy grew by 6.6%. According to the IMF’s estimates, real GDP is expected to […]

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