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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 […]

DRC: Mining contracts have been published as requested by the International Monetary Fund

The various memorandum of understanding and mining contracts required by the International Monetary Fund have been published. They both concern Sokimo and Miba. These contracts were signed under the chairmanship of Felix Tshisekedi. Their publication was a prerequisite for the opening of negotiations to sign a three-year plan with the IMF. What do these contracts […]

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Sudan announces transfer of $335 million intended to compensate U.S. victims of terrorism

Sudan claims to have transferred money intended for the victims of the 1998 and 2000 attacks against US interests. Al Qaeda had attacked the American embassies in Kenya and Tanzania, as well as the ship USS Cole, killing several hundred people. Khartoum said yesterday that it had transferred the $335 million intended to compensate the […]

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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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South Africa: IMF Provides $4.3 Billion in Emergency Assistance to fight Covid-19

The IMF announced this week that it approved $4.7 billion (€3.7 billion) in emergency assistance in response to Covid-19 to South Africa. The country had been refusing IMF assistance for more than 25 years. But South Africa is the worst affected country in Africa with nearly 450,000 cases and 6,700 deaths, according to a latest […]

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Gabon’s budget cut by 10% because of Covid-19

In Gabon, because of the Covid-19 pandemic, the government has decided to revise its 2020 budget downwards. As Gabon’s finance law is based on the price of raw materials, especially oil and manganese, Libreville has reduced its forecast of oil prices from $57 a barrel to $30. The ton of manganese would lose 28% of […]

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DRC to review its 2020 budget because of the coronavirus

“We’re an extroverted economy. This means that our exports and imports are more difficult to do today than they were yesterday. So that means, as a result, our revenues are also declining very rapidly,” This declaration is from the Prime Minister of the Democratic Republic of Congo. Sylvestre Ilunga Ilunkamba made this declaration when he […]

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IMF helps Ghana face economic fallout

As growth falters and the government’s financing needs expand, Ghana received an aid from the International Monetary Fund. The West African country which was promoting a big project called Ghana Beyond Aids could not face along the impact of the new pandemic on its economy. The IMF has approved a $1 billion (910-million-euro) aid package […]

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COVID-19: Africa records 59,393 cases, curfews extended, funds set up to fight the outbreak

Africa has now more than over 59,390 confirmed cases of coronavirus across the continent, according to the latest data by the John Hopkins University and Africa Center for Disease Control. The continent has rising cases with only three countries holding out as of April 6. Nigeria, Africa’s biggest nation, has 209 confirmed cases of coronavirus […]

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Humanitarian Crisis: Zimbabwe needs aid urgently—IMF

The International Monetary Fund has warned that Zimbabwe needs urgent aid as the coronavirus exacerbates the impact a food shortage following the worst drought in nearly four decades. In a statement released on Friday, IMF executives said with another poor harvest in 2020, Zimbabwe’s projected economic growth would likely drop to 0%. The Washington-based institution […]

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