Who’s running the IMF as Lagarde steps away?

Who’s running the IMF as Lagarde steps away?

Who’s running the show at the International Monetary Fund, now that former managing director Christine Lagarde has stepped down temporarily while she is a candidate for head of the European Central Bank? Right now it’s David Lipton, who has served as deputy managing director since 2011 and is completing a…

IMF trims projections for sub-Saharan Africa, global growth

The new World Economic Outlook report projects that global growth will remain steady over 2018–19 at last year’s rate of 3.7 percent, but that’s revised down from 3.9 percent earlier this year. “There are clouds on the horizon. Growth has proven to be less balanced than hoped,” said Maurice Obstfeld, chief economist…

IMF adopts CPIFR assessment standard for Islamic banking

The International Monetary Fund (IMF) announced Thursday that it will integrate Islamic banking, which now has a presence in more than 60 countries, into its financial stability assessments in nations where Islamic finance commands at least 15 percent of the banking sector market. Beginning in 2019, they’ll use the Core…

Barrow in Brussels for The Gambia-EU donor conference

President Adama Barrow of The Gambia is in Brussels Tuesday for a donor conference to help support the country’s democratic transition from the decades of rule under former dictator Yahya Jammeh. The conference, jointly organized by The Gambia and the European Union, will see Barrow co-chair the meeting alongside High…

AfDB denies reports it has cut off $400 million loan to Nigeria

The African Development Bank (AfDB) said Tuesday that it has not decided to call off loans to Nigeria, countering widespread media reports that the support for the West African nation’s ailing economy was withdrawn. “The African Development Bank is highly encouraged by the economic recovery of Nigeria from recession and…

Merkel makes G20 ‘Compact for Africa’ case in Berlin

German Chancellor Angela Merkel pressed her case for investment in Africa on Monday as part of the G20’s Compact for Africa initiative, the focus of two-day meetings in Berlin. Merkel, whose nation holds the current G20 presidency, welcomed African leaders from Côte d’Ivoire, Ghana and Tunisia, the three nations that…