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Tax evasion costs Africa $25 billion a year, a research reveals

Tax evasion costs Africa more than US$25 billion a year, according to a study conducted by a network of NGOs, including the Global Tax Justice Alliance. In the fight against the Covid-19 pandemic, tax evasion is considered “unacceptable”, as it reduces the revenue that African countries could spend on their health. Twenty-three billion dollars is […]

Zambia admits serious financial difficulties due to Covid 19 pandemic

Having failed to meet a $42.5 million payment due to its Western creditors in October, Zambia acknowledges that it has serious cash flow problems, but says it is not in default. Lusaka explains that it “All creditors must be treated fairly,” according to Zambian Central Bank Governor Christopher Mvunga. Zambia had only $36 million available […]

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Rwanda: Tidjane Thiam has been recruited to develop the attractiveness of Rwanda financial sector

Franco-Ivorian banker Tidjane Thiam has been recruited by Rwanda to develop the attractiveness of its financial sector. The former head of Credit Suisse has been appointed Chairman of the Board of Directors of Rwanda Finance Limited, a state-owned company whose mission is to turn Kigali into an international financial centre. Tidjane Thiam was appointed alongside […]

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Covid-19: WB-IMF Annual Meetings Planned in Marrakesh Rescheduled until 2022

The World Bank -IMF annual meetings planned in Marrakesh (Morocco) in October 2021 have been rescheduled until 2022 due to the covid-19-pandemic. The announcement was made Thursday by the host country and the two international financial institutions. The annual meetings are usually held for two consecutive years at the WB and IMF headquarters in Washington […]

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IMF lauds Morocco’s efforts to expand social welfare, contain Covid-19 crisis

The head of the IMF mission, in charge of Morocco, Roberto Cardarelli, who presented at a news conference the conclusions of his consultations with Moroccan authorities, under Article IV of the IMF, commended the Kingdom’s efforts to expand social welfare to all Moroccans. Extending medical insurance to all Moroccans would help increase access to better […]

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World Bank: Forty million Africans are at risk of falling into extreme poverty because of the Covid-19 pandemic

Leaden by the economic fallout from the Covid-19 pandemic, growth in Sub-Saharan Africa is expected to drop to -3.3% in 2020, leading the region into its first economic recession in 25 years, according to the World Bank’s latest “Africa’s Pulse” analysis of the regional economy. The pandemic also threatens to push 40 million Africans into […]

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German KfW supports Morocco’s rural drinking water program with €30 Mln Loan

German Development Bank (KfW) has lent to Morocco’s National Office of Electricity & Drinking Water (ONEE) €30 million for drinking water projects in the rural zones of Tangier and Chefchaouen provinces and neighboring regions. The loan agreement was inked Wednesday by ONEE Head Abderrahim El Hafidi and Director of KfW in Morocco, Markus Faschina.   […]

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Nigeria: the Lagos Stock Exchange records its best performance in the last fifteen years despite the severe recession

It’s Christmas ahead of time at the Lagos Stock Exchange in Nigeria. On Tuesday, October 6, the index of the thirty largest stocks jumped by 5.7%, the second best performance in the last fifteen years. For the past month, the Nigerian stock market has been in great shape and has risen by more than 13% […]

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IMF approved new emergency assistance for 28 countries, of which 22 are in Africa

The IMF continues to stand by the poorest in this time of global crisis. On October 5, the Fund approved new emergency assistance for 28 countries, 22 of which are in Africa. The money received will allow them either to relieve their debts or to help finance the fight against the effects of the pandemic, […]

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WHO, Qatar Fund for Development sign new agreement to meet health needs in Sudan

The World Health Organization received a donation of $1 million from the Qatar Fund for Development to support its ongoing work in Sudan for a period of one year.   The agreement is part of a larger, joint project that brings together the Qatari Red Crescent and Qatar Charity to support vulnerable populations in Sudan, […]

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