The Cinema Exhibitors Association of Nigeria (CEAN), the country’s premier Film Trade Association Body, has announced good news for cinema lovers on the occasion of the International Cinema Day. Opeyemi Ajayi, the chairman of the Cinema Exhibitors Association of Nigeria (CEAN), said in a statement on Tuesday in Lagos that cinema lovers would enjoy discounted […]
Gross Domestic Product (GDP) projections are essential to define the economic strategies and policies of governments across the globe. They offer a reliable insight into a region’s overall development trajectory, growth potential and economic health. The first half of 2023 saw more robust growth than expected in April. Although the global average prediction has mostly […]
Kenya, a country in East Africa, and the International Monetary Fund (IMF), a major financial agency of the United Nations, have reached a staff-level agreement, unlocking $938 million in transfer. The agreement has boosted the current lending programme by $938 million before a eurobond repayment due in June. Haimanot Teferra, the International Monetary Fund (IMF) […]
COVID19 has had both economic and life impact on Africa. Investment and job creation by major governments in Africa have largely stalled. The economic impact of the coronavirus epidemic has already been seen by investors and has delayed major projects to be implemented here in Africa. The International Monetary Fund (IMF) has forecast that Africa’s […]
The executive board of the IMF has approved a whopping sum of 487.5 million dollars that will be disbursed to Angola, this announcement was made in the late hours of Monday. The money will help in the resuscitation of the economy of Angola that has been massively hit by the coronavirus. The different impacts of […]
The South Sudanese Government has secured a loan from the International Monetary Fund (IMF) worth over $50 million, for the resuscitation of the economy due to the impact of Covid-19. This is going to be the South Sudan’s first loan from the IMF. As indicated by the IMF, preceding the COVID-19 pandemic, South Sudan had […]
The IMF has advised against the premature ending of the fiscal support in the financial sector of various countries More than six months into the novel coronavirus pandemic, the IMF cautioned governments in opposition to ending fiscal assist packages despite excessive degrees of public debt. In its fiscal monitor report, the world finance body stated […]
The International Monetary Fund approved new emergency aid for 28 countries on Monday — 22 of which are African. Funds received will enable these nations to either pay back their debts or mitigate the debilitating impact of the Covid-19 pandemic on their soil. In April, the IMF cancelled the debts of 25 of the economically-challenged […]
Economists are warning that large scale intervention is needed to rescue the Algerian economy from accruing huge foreign debt, following the double blow of COVID 19 and tumbling oil revenues. The National Office of Statistics has mentioned a 3.9 percent fall in Gross Domestic Product in the first quarter of 2020 alone, with unemployment nearing […]
The current R70-billion loan by the International Monetary Fund (IMF) to South Africa has been acquired with combined critiques via more than a few segments of the country. National Treasury Director-General Dondo Mogajane has welcomed the decision, indicating that the authorities will ensure that it meets the mortgage conditions and that it has in no […]
As governments rushed out funding to prevent an economic collapse amid the coronavirus pandemic, global public debt swelled to the highest in history, but the International Monetary Fund (IMF) warned Friday that cutting back too soon could undermine the recovery. Continuing to provide the support as the economic slowdown drags on will be “paramount,” the […]
The International Monetary Fund’s discussions with South Africa over a $4.2 billion loan to support its fight against the coronavirus pandemic are taking place at a “measured pace” because the country’s deep and liquid capital markets ensure it still has access to financing, according to the director of the Washington-based lender’s Africa department. “The key […]
The International Monetary Fund said on Tuesday its executive board approved $3.4 billion in emergency financial assistance for Nigeria to support the oil exporter’s response to the coronavirus pandemic. The global lender said it remained closely engaged with Nigerian authorities and was ready to provide policy advice and further support as needed. The outbreak and […]
Egyptian Prime Minister Moustafa Madbouli announced on Sunday that his government had started negotiations with the International Monetary Fund (IMF) to obtain a one-year financial assistance to cope with the recession caused by the coronavirus pandemic. “We have started discussions with the IMF for financial assistance in addition to technical assistance,” Madbouli said at a […]
Six months of debt relief has been granted to 25 countries considered the poorest in the world by the International Monetary Fund. The institution will then redirect these funds towards the fight against the coronavirus pandemic. 19 of the 25 are African countries chosen based on an extreme poverty and vulnerability ranking. Oil prices, virus, […]
The International Monetary Fund, IMF said that Nigeria’s economy will contract by 3.4% in 2020, but rebound with 2.4% growth in 2021. The IMF made this projection in its latest edition of the World Economic Outlook just released at the ongoing Spring Meeting in Washington. The International Monetary Fund (IMF) on Tuesday projected that Nigeria’s […]
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. The southern African nation needs hundreds of millions of dollars in foreign aid in coming months to fend off a humanitarian crisis that’s likely to leave more […]
The International Monetary Fund, (IMF) and World Bank Group on Wednesday announced other measures to curb the impact of the coronavirus on the world’s economy and health. “We know the disease is spreading quickly with over one-third of our membership affected directly. This is no longer a regional issue. It is a global problem calling […]
The International Monetary Fund (IMF) has said that Zimbabwe needs to clear its debt with other creditors for it to start receiving financing from the Bretton Woods institution. Zimbabwe cleared its arrears with the Fund but owes the African Development Bank and the World Bank a combined US$2 billion. Responding to a question by the […]