Is Vladimir Putin planning an invasion of Ukraine, as evidenced by Russian forces massing on the country’s borders? Is he trying to force concessions on his neighbor and the West, or is he bluffing? Putin’s motives are unknown to anyone. His own foreign minister seemed to be kept in the dark. However, if violence is […]
Stanbic IBTC Holdings PLC, part of the Standard Bank Group, recently hosted a webinar titled “2022 ‘Virtual Economic Outlook – Investing and Planning in an Election Cycle’. The event which aimed to reflect on the economic trends that shaped 2021 and project into 2022, was held on Monday, February 14, 2022. According to the financial […]
Nigeria’s growth all but stalled in the last quarter of 2021, dashing hopes that Africa‘s most populous country will recover quickly from Covid-19. Capital Economics, a London-based economic research firm, has built a model that suggests growth slowed significantly in the fourth quarter after falling from 5% in Q2 to 4% in Q3. The company […]
According to him, the inauguration of the cement plant is an indication that the federal government’s policies on economic diversification, job creation and creating an environment conducive to business prosperity are working. He described the factory as the largest employer of private sector labor in the northwestern part of Nigeria. The president told that in […]
It is time to move towards more modern entrepreneurship in the Nigerian agricultural sector. It’s time to admit that the era of food pyramids is long gone, especially not government-inspired ones. Today, the pyramids only cast shadows of a bygone past. The agricultural sector currently employs the majority of the Nigerian workforce, most of whom […]
Unlike other economic powerhouses, China saw prices fall last year, paving the way for the possibility of lower interest rates in support of measures undervalued by the housing crisis.In 2021, inflation was 0.9% (and 1.5% year-on-year in December and 2.3% in November), according to the National Statistics Office.This is a very slow pace compared to […]
The introduction of an electronic foreign exchange request should simplify the process of accessing the greenback. The recently introduced electronic exchange (forex) application has been described as a major tool to facilitate access to forex for travelers, SME operators, those who pay tuition fees, health bills and others. who need the greenback for genuine transactions. […]
(MENAFN- Caribbean News Global) By Tobias Adrian, Christopher Erceg, Simon Gray and Ratna Sahay Over the past two decades, central banks in emerging markets have made substantial progress in building the credibility necessary to conduct countercyclical monetary policy. During the COVID crisis, many of these central banks not only cut interest rates sharply, but also […]
Added the 30 december 2021 Other view By: Hafizur Talukdar A few years ago, debt-ridden Bangladesh is now a country of unprecedented success in debt relief. The world today looks at Bangladesh in amazement. Bangladesh only borrowed from other countries or organizations. Now that history has changed and has started lending. Bangladesh has provided loans […]
By Rosemary Mirondo Dar es Salaam. The Tanzanian shilling ended the year with a strong performance against the US dollar, thanks to a steady flow of greenbacks from the recovery in tourism, exports and funds from development partners. The local currency started the year with an average exchange rate of Sh 2,298.46 per dollar and […]
The Kenyan government has abandoned its plan to renationalize Kenya Airways (KQ, Nairobi Jomo Kenyatta) but will instead protect its financial interests in a $ 1 billion restructuring of the national carrier which will include a debt assumption of $ 827 million and an injection of funds of $ 473 million. , revealed the International […]
Bangladesh, riddled with debt a few years ago, is today a country of unprecedented success in debt relief. The world today looks at Bangladesh in amazement. Bangladesh only borrowed from other countries or organizations. Now that history has changed and has started lending. Bangladesh has provided loans to Sri Lanka and Sudan. Bangladesh first loaned […]
Washington, DC: The Executive Board of the International Monetary Fund (IMF) today completed the sixth review of Angola’s economic program supported by an expanded arrangement under the Fund’s Extended Facility (EFF) and concluded consultation under Article IV [1] with Angola. The Council’s decision authorizes an immediate disbursement of SDR 535.1 million (approximately $ 748 million), […]
When the coronavirus pandemic caused global oil prices to plummet and the Nigerian currency, the naira, to fall last year, many feared the worst for the country’s biggest banks. Nigeria is Africa’s largest oil producer. It depends on crude for almost all of its foreign exchange earnings and about half of its government revenue. As […]
Download logo The IMF Executive Board concludes annual discussions on CEMAC common policies and common policies in support of member countries’ reform programs. The pandemic crisis which lasted nearly two years left CEMAC in a fragile external position. A stricter political stance, high oil prices and renewed commitments by heads of state to accelerate structural, […]
December 9, 2021 J Yanqui Zaza of The Perperstive Challenges David Malpass of the World Bank Honorable David MalpassPresident of the World Bank1818 H Street, NOWashington, DC 20433 Re: Who benefits from the $ 157 million loan approved by the World Bank in June 2021 for Liberia? Dear President David Malpass: The public would like […]
MARKET ENVELOPES To watch: Manufacturing orders / turnover in Germany; Retail sales in Italy; UK Car Registrations, Construction PMI, Household Finances Review, CBI Economic Forecasts; meeting of the Eurogroup of euro area finance ministers; no major company update is expected Opening call: Allaying fears about Omicron’s seriousness should help fuel a rally in European equities […]
Capital markets Foreign exchange reserves fall by 21.8 billion shillings on foreign debt payments Wednesday, November 24, 2021 Central Bank of Kenya. PHOTO FILE | NMG By ELIZABETH KIVUVAMore from this author Summary The latest data from the Central Bank of Kenya (CBK) shows that reserves stood at 996.3 billion shillings ($ 8.873 billion) last […]
Asjadul Kibria | Posted: Oct. 30, 2021, 8:58 p.m. About nine years ago, a book, written by Morten Jerven, then an assistant professor in the School of International Studies at Simon Fraser University in Vancouver, sparked a debate about the accuracy of economic data and the development of Africa. Entitled “Poor Numbers: How We Are […]
Lesotho is grappling with the fallout from the pandemic and a sharp drop in revenues for the Southern African Customs Union (SACU); The authorities and the mission team made significant progress in their discussions on policies that could be supported by the IMF as part of a financial arrangement. A team from the International Monetary […]
Tunisian President Kais Saied on Thursday accused international rating agencies of using “biased criteria” in assessing the country’s ability to attract investment. This happened during a meeting with Financial Markets Council (CMF) Chairman Salah Sayel, a day after the country’s central bank (BCT) sounded the alarm over declining foreign exchange reserves. , the deterioration of […]
The writer heads the Sustainable Development Policy Institute. The Pakistani economy faces a triple challenge: Internationally, it faces soaring prices of essential commodities such as oil, gas, wheat and sugar and unusually high shipping costs. raised on its foreign trade; at the regional level, it is grappling with the economic and financial fallout from an […]
By guest writer On August 23, the International Monetary Fund (IMF) injected liquidity into all of its member countries worth $ 650 billion in Special Drawing Rights (SDRs). Uganda received the equivalent of Shs 1,200 billion from this injection. This money was allocated according to the participation of member countries in the IMF. Uganda’s participation […]
Standing next to piles of dark red palm fruits ready to be crushed for their essence, Nigerian farmer Micah Ojo hopes to capitalize on the government’s willingness to revive the country’s once thriving palm oil sector. His farm is one of the small plantations scattered across southern Nigeria where the government is investing heavily in […]
Sri Lanka’s economy is reeling from a foreign currency crisis during pandemic economic turmoil. A long-standing dependence on imports has finally caught up to drain foreign exchange reserves, already strained by large debt repayments in the absence of US $ 5 billion in tourism and influx of sovereign bonds. Despite the apocalyptic predictions of some […]
Experts disagree. Some say that the protection that has already been provided is sufficient. Others say a booster is needed. Covid19? Yes. But also monetary policy. Let me explain the parallel between medical science and economics … well, let’s call it science. The Federal Reserve has attempted to immunize the US economy from the threat […]
Nigerian lenders probably do not have enough dollars to finance clients interested in acquiring the assets of Shell Petroleum Development Company Limited. This claim was made by the CEO of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje during GTCO’s investor conference which was held virtually, according to Bloomberg. Such a deal, according to Agbaje, […]
(MENAFN – Colombo Gazette) In the Chinese mind, Africa is a backward continent that must be exploited for its natural resources and used as a platform to give Chinese companies the opportunity to invest and create more useful infrastructure to china as the host country. Kenya is a classic example of an African nation that […]
TODAY marks exactly one year of repayment of the same amount on commercial bank loans. This is also unlikely to change as the Bank of Namibia (BoN) yesterday kept the repo rate at 3.75%. The bank’s governor, Johannes! Gawaxab, made the announcement just months before the end of his 18-month stay at the bank. It […]
Tunisia never ceases to amaze… Indeed, as the country turns in circles, and political vicissitudes punctuate its daily life, it has just repaid a bond loan with an American guarantee in the amount of 500 million dollars, contracted on August 5, 2016 It is the second of its kind and of the same amount, in […]
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Variants, vaccine shortages increase risks-G20 Global tax deal on track for October signing But obstacles from the US and EU could complicate matters Call for financial stability VENICE, Italy, July 10 (Reuters) – An upsurge in new coronavirus variants and limited access to vaccines in developing countries threaten the global economic recovery, finance ministers from […]
Fitch Ratings on Thursday downgraded Tunisia’s long-term default rating of foreign currency issuers (IDRs) to “B-†instead of “Bâ€. The Outlook is Negative. The downgrade to “B-†and the negative outlook reflect increased fiscal and external liquidity risks in the context of further delays in agreeing to a new program with the IMF, which is […]
Band Ambar Warrick July 7 (Reuters) – Most emerging market currencies fell on Wednesday, as stocks were expected to experience their worst losing streak in 10 months, with investors fearing more hawkish signals from the minutes of the recent US Federal Reserve meeting. MSCI Emerging Market Currency Index .MIEM00000CUS fell 0.3% to a two-month low, […]
The government regularly talks about tax reforms that would allow it to increase infrastructure spending and channel more resources into non-oil sector growth, but translating intention into action seems overkill as the medium-term spending framework and the 2022-2024 Paper budget strategy (MTEF / FSP nevertheless reflects old habits. In March, the country’s documented debt stock […]
Countries lagging behind in vaccination rates, such as South Africa and Russia, could feel the pressure as they tighten restrictions that will hurt economic activity, according to Crédit Agricole CIB. Once the best performers of 2021, the rand and ruble were among those that pushed an emerging market currency index down in June for the […]
Nonkululeko Gobodo, hailed as South Africa‘s first black female chartered accountant and founding member of one of the country’s largest accounting firms, recently asked the South African Reserve Bank (Sarb) to relax its demands on new banking licenses – start a black bank. As long as the country’s central bank maintains its strict banking license […]
BEIRUT: Ibrahim Arab queues for several hours a day in the hot summer sun to buy gasoline for his taxi.When not working, the 37-year-old father-of-two goes from pharmacy to pharmacy in Beirut, looking for infant formula for his 7-month-old son – anything he can find – even if the infant has had severe diarrhea and […]
The Central Bank of Egypt (CBE) revealed that the total financial position of banks operating in the local market, except itself, was around EGP 7.554 billion at the end of March 2021. This from the 7.022 billion EGP recorded in December 2020, reflecting an increase of approximately 532 billion EGP. The CBE said in its […]
By Michael Lelyveld The Chinese government suffered a setback in its campaign against inflation as consumer prices accelerated last month despite pressure on producers to keep commodity prices low. On June 9, the National Bureau of Statistics (NBS) reported that the Consumer Price Index (CPI) for May rose 1.3% from the previous year, accelerating from […]
If there was a time when Nigeria could have taken off, it was in 1999. Democracy had been restored, the country’s economy had reopened after decades of mismanagement and looting under military dictatorships. Tomi Davies, a systems analyst, was among thousands of Nigerians who returned home to help rebuild the country. After a few years […]
Bangladesh provided about $ 7.7 million to Sudan on Tuesday, which is rebuilding its $ 30 billion economy after years of corruption and sanctions. In December of last year, the United States, after nearly three decades, removed the African nation from the list of sponsor states of terrorism, a move that helps the African nation […]
President Samia Suluhu Hassan yesterday ordered the Bank of Tanzania (BoT) to take appropriate action to deal with the high interest rates, calling for reasonable levels for lenders. The president said financial institutions should cut real interest rates in line with measures implemented by the central bank, and suggested that short-term lending rates be lowered […]
Thursday June 10, 2021/6 a.m. / By news aggregator / Header image credit: Twitter; Monitoring COVID-19 Health Updates June 9, 2021: Nigeria’s COVID-19 status in 36 states and the Federal Capital Territory Confirmed: 166,982 cases (New: 64) Dump : 163,328 Death:: 2,117 (New: 0) Click here to read the latest news updates PROSHARE ECONOMY Headline […]
(MENAFN – AETOWire) NEW YORK-Friday June 4, 2021 () – Africa Finance Corporation, the leading provider of infrastructure solutions in Africa, received an increase in its credit rating outlook from Moody’s Investors Service, which assigned a “stable” outlook. The decision ratifies the second investment grade ranking among African institutions for AFC, with Moody’s upholding the […]
NEW YORK,–(COMMERCIAL THREAD) – Africa Finance Corporation, the leading provider of infrastructure solutions in Africa, received an increase in its credit rating outlook from Moody’s Investors Service, which assigned a “stable” outlook. The decision ratifies the second investment grade ranking among African institutions for AFC, with Moody’s upholding the company’s long-term and senior unsecured issuer […]
Adds details NAIROBI, May 27 (Reuters) – Kenya expects to receive a loan of $ 750 million from the World Bank in the next two weeks to support its budget, the country’s central bank governor, Patrick Njoroge said Thursday. The East African nation has been scrambling to get cash from abroad to fill a yawning […]
The Bank of Uganda drew $ 216.8 million from the reserve account during the quarter ended in February to finance a growing deficit resulting from the growing import bill. This is due to growing demand for imports against a backdrop of slowing dollar inflows and low export earnings. The levy therefore led to a slight […]
Bloomberg Don’t fear the downside: the Fed will dominate the treasury market for years (Bloomberg) – Sign up for the New Economy Daily newsletter, follow us @economics, and subscribe to our podcast Treasure investors worried about when the Federal Reserve will cut bond purchases risk missing out the big picture: its more than $ 5 […]
The US dollar rate hit a new high at the end of the trading week on Thursday, hitting over 400 SDG. The continued increase in exchange rates in Sudan was expected, says economist Hasan Bashir. On Wednesday, the Ministry of Finance signed two agreements with the African Bank to support economic and financial reforms in […]
Lagos-based pan-African multilateral development finance institution African Finance Corporation (AFC) successfully issued a Eurobond at its lowest yield to date. This is an indication of the strong interest of global investors in the African continent and the development finance institution which is dedicated to infrastructure finance and investment in key sectors of the continent. This […]
Lagos-based pan-African multilateral development finance institution African Finance Corporation (AFC) successfully issued a Eurobond at its lowest yield to date. This is an indication of the strong interest of global investors in the African continent and the development finance institution which is dedicated to infrastructure finance and investment in key sectors of the continent. This […]
Lagos-based pan-African multilateral development finance institution African Finance Corporation (AFC) successfully issued a Eurobond at its lowest yield to date. This is an indication of the strong interest of global investors in the African continent and the development finance institution which is dedicated to infrastructure finance and investment in key sectors of the continent. This […]
The global chocolate industry is worth more US $ 150 billion. West African supplies 70% cocoa beans, but most of the value of a chocolate bar is generated in Europe and North America. West African economies receive less US $ 6 billion. This despite a growing demand for consumer chocolate in West Africa, part of […]
Currencies Foreign exchange reserves rise by 7.7 billion shillings on export earnings Tuesday, April 27, 2021 Headquarters of the Central Bank of Kenya. FILE PHOTO | NMG Foreign exchange reserves held at the Central Bank of Kenya (CBK) increased by a marginal Sh7.7 billion ($ 71 million) in the week to April 22, mostly on […]
Friday, April 23, 2021 / 2:40 p.m. / United Capital Research / Header Image Credit: IMF Anglophone West Africa Nigeria According to the Internally Generated Revenue report released by the National Bureau of Statistics (NBS), Nigeria states generated 1.31 tn of IGR in 2020, down 1.9% year-on-year from 1 , 33 tn in 2019. The […]
United States: Biden administration imposes tough new sanctions on Russia in response to cyber attacks and election interference April 21, 2021 Winston & Strawn LLP To print this article, simply register or connect to Mondaq.com. On April 15, 2021, President Biden issued an executive order (found here), “Freezing of Assets in Respect of Specified Harmful […]
Small businesses try to defer bills and secure emergency loans to stay afloat amid coronavirus scourge as they wait for relief specially reserved for them in the $ 2 trillion stimulus package which makes its way to Congress. The bill, approved by the US Senate on Wednesday and awaiting a decision in the House of […]
The Trump administration $ 349 billion emergency paycheck protection program to help small businesses cover their wage costs was to be rolled out on Friday, April 3, with banks accepting requests from businesses slammed by the coronavirus. (Applicants must have fewer than 500 employees.) All week before the start date, President Trump, Secretary of the […]
The Bank of Japan will work closely with the country’s new administration headed by Prime Minister Yoshihide Suga to achieve the central bank’s 2% inflation target, Governor Haruhiko Kuroda said Thursday. “We have maintained communication and coordination (with the government) to continue our monetary policy,” Kuroda said at a press conference after a two-day policy-making […]
Mortgage rates started to drop below 3% thanks to the Fed and Powell With the help of President Jerome Powell and the Federal Reserve, mortgage rates have started to slide to levels that would have seemed impossible a few months ago. Buyers and owners who comparator-shop for a mortgage could now find 30-year fixed rate […]