Tag: IMF

International Monetary Fund
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Ghana approves final review of $3 billion IMF program amid economic reforms

Ghana completes final IMF review of $3bn program as reforms, gold exports and cedi gains drive economic stabilization.

Timilehin Adejumobi Timilehin Adejumobi
Tanganyika Province in the Democratic Republic of the Congo, a mineral-rich region contributing to the country’s mining-driven economic expansion.
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Congo set to overtake Ethiopia as sub-Saharan Africa’s fifth-largest economy

Congo projected to overtake Ethiopia as sub-Saharan Africa’s fifth-largest economy, driven by mining, currency gains and IMF projections.

Omokolade Ajayi Omokolade Ajayi
Angola seeks AfDB loan as oil supports growth amid debt pressure
BusinessTechnology

Angola seeks AfDB support as oil cushions impact of global shocks

Angola is seeking fresh support from the African Development Bank as it works to steady its finances in a volatile global environment, even as stronger oil prices offer some relief.  The government is in talks for a $165 million budget support loan, part of a wider plan to raise about $1 billion from external sources this year. Officials say the…

Oluwatosin Alao Oluwatosin Alao
Mozambique clears $701 million IMF debt as African nations cut borrowing
BusinessGlobal News

Mozambique clears IMF debt as African nations cut foreign borrowing

Mozambique has fully repaid its $701 million debt to the International Monetary Fund, a rare move among African economies working to ease pressure from external borrowing and tighten public finances.  The payment, disclosed in a research note by Standard Bank, clears Mozambique’s balance with the Washington-based lender and brings an end to its outstanding obligations. It also led to the…

Oluwatosin Alao Oluwatosin Alao