By Rédaction Africanews with AFP The International Monetary Fund (IMF) on Wednesday approved a $3 billion loan for Ghana, a West African country in the midst of a severe economic crisis, with the first immediate disbursement of about $600 million. The programme, endorsed by the IMF board, is spread over 36 months under the Extended…
What do artificial nails, crypto currencies, spaghetti and social media influencers have in common? They are all being targeted by Kenya’s taxman in a raft of new proposals aimed at filling the coffers of President William Ruto’s cash-strapped government. Ruto is seeking to repair a heavily-indebted economy inherited from his predecessor Uhuru Kenyatta, who ramped…
By Rédaction Africanews G7 leaders convene in Japan to tackle urgent global concerns including the Ukraine invasion, climate change, and food insecurity. Simultaneously, African nations prioritize economic recovery from the pandemic and debt risks, with the digital economy emerging as a pivotal driver of employment and growth, projected to dominate the global workforce by 2100….
By Rédaction Africanews with AFP The United Nations estimates that more than $3 billion is needed for humanitarian aid and refugees in Sudan, where the humanitarian crisis has been further exacerbated by heavy fighting since mid-April. For humanitarian aid alone, the UN says it needs $2.6 billion, according to its revised estimates, up from $1.75…
By Kopano Gumbi PRETORIA, May 16 (Reuters) – South Africa’s unemployment rate rose in the first quarter after declining for four consecutive quarters last year, data showed on Tuesday, as the country reeled from record power cuts. Unemployment rose to 32.9% in the first three months of 2023 from 32.7% in the final quarter of…
By Africanews The Central Bank of Zimbabwe introduced this Monday a digital token backed by gold as legal tender. The aim is to help stabilize the Zimbabwean dollar and protect citizens from currency fluctuations. The gold-backed digital tokens will be a form of electronic money backed by Zimbabwe’s gold reserves, held by the Central Bank. …
By Rédaction Africanew A successful African free trade area implementation could unlock major benefits for Africa in terms of income, jobs among other things, a report by IMF staff said. The departmental paper published Friday (May 5) examined the prospects for African trade integration in the context of a changing world amid the climate crisis,…
By Rédaction Africanews with Agencies The US dollar suffered a sharp decline on Wednesday following the release of data that revealed consumer prices in the United States rose less than anticipated in March. The unexpected result has prompted experts to speculate that the Federal Reserve may halt its rate-hiking efforts, possibly after a rate increase…
By Rédaction Africanews The outlook for the world economy this year has dimmed in the face of chronically high inflation, rising interest rates and uncertainties resulting from the collapse of two big American banks. That’s the view of the International Monetary Fund, which on Tuesday downgraded its outlook for global economic growth. The IMF now…
Tim Hepher, Reuters News PARIS – Airlines warned on Monday that service to countries in Africa and elsewhere that block the repatriation of funds is likely to suffer if there is no progress in talks to unfreeze money owed. About $1.6 billion of funds are being withheld in Africa for various reasons, representing two thirds…
