IMF downgrades Sub-Sahara’s growth forecast to 3.75% for 2015
In its latest African Economic Outlook released on Tuesday under the title “Dealing with the Gathering Clouds,” the International Monetary Fund (IMF) said that sub-Saharan […]
Finance
Egypt appoints new central bank governor
Governor of the Central Bank of Egypt, Hisham Ramez, resigned and will be replaced by Tarek Amer, a former chairman of the country’s largest commercial […]
Uganda’s central bank raises benchmark rate to 17.0%
Uganda’s central bank raised its benchmark interest rate for the fifth consecutive meeting after a weaker currency boosted inflation to a two-year high. The bank […]
Angola cuts budget by 50% as oil prices fall
The government of Angola, sub-Saharan Africa’s second-largest crude producer, cut spending by half this year following a plunge in oil prices. Vice President Manuel Vicente […]
Nigeria: IMF urges central bank to review forex policy
The African Department Director at the International Monetary Fund (IMF) Antoinette Sayer has called on the Central Bank of Nigeria (CBN) to review its foreign […]
UN, IMF, IDB seek billions to rebuild Middle East
The United Nations, the World Bank and the Islamic Development Bank announced a joint initiative on Saturday to scale-up financing in the Middle East and […]
Egypt ventures into Iraq for oil
Egypt has acquired 10% of the concession of Kuwait Energy, a private firm, on an oilfield in Basra, southern Iraq. Egyptian Petroleum minister Tarek El-Molla […]
Nigeria: Central Bank to retain forex controls amid slow growth
Nigeria’s central bank plans to retain foreign currency controls because of concerns about slowing growth rate, a senior bank official said on Wednesday as Africa’s […]
Chad: Boko Haram plunges GDP forecast to 1%
The International Monetary Fund (IMF) said on Friday that Chad’s GDP will contract to 1 percent this year as compared to the 5 percent growth […]
Algeria-EU: Algiers rejects EU’s media project grant
Algerian Minister of Communication rejected Thursday EU’s grants for Algeria’s communication and media reforms. EU’s Foreign Policy Chief Federica Mogherini who was visiting Algeria could […]