Many studies of climate and its relationship to conflict have been inconclusive, with mixed results on how drought or deforestation might be driving tensions that can lead to violence. A new International Monetary Fund working paper, seeking to shed light on climate-conflict dynamics specifically on the African continent, details how…
Laureen is the editor of Africa Times
The latest International Monetary Fund forecast for sub-Saharan Africa calls for continued slow economic growth through 2022, with similar conditions next year —an outlook that remains highly uncertain, the IMF said. “Late last year, sub-Saharan Africa appeared to be on a strong recovery path out of a long pandemic,” said…
Ghanaian politicians took to the airwaves on Monday, defending their decision to work toward an International Monetary Fund financing deal in order to pull out a country mired in economic crisis. “Times are hard globally and locally too,” said information minister Kojo Oppong Nkrumah, in one of several media interviews…
The economic recovery that has followed COVID pandemic impacts in sub-Saharan Africa has been disrupted by the impacts of war in Ukraine, with the International Monetary Fund (IMF) now trimming back its 2022 projected growth estimates to a slower 3.8%. “The Russian invasion of Ukraine has triggered a sharp rise…
The southern African nation of Mozambique is set to receive US$470 million over the next three years, as part of a financing package agreed to by the International Monetary Fund (IMF) this week. The new IMF deal, under its Extended Credit Facility program, marks the first time the IMF has…
There are at least 32 million more people living in extreme poverty across sub-Saharan Africa because of the COVID-19 pandemic, and countries in the region will need about $425 billion in additional external funding over the next five years, the IMF said on Thursday. “The outlook for sub‑Saharan Africa is…
In a remarkable display of resilience, Uganda has thus far managed to avoid the carnage which the Covid-19 pandemic has caused in other parts of the world. As of 19 May, Kampala has officially registered 274 infections, along with 63 recoveries and, astonishingly, no deaths. Despite this good news, the…
Sub-Saharan Africa will see its 2020 economic growth so impacted by the coronavirus pandemic that the International Monetary Fund warns of the worst performance in 50 years. That’s according to IMF African director Abebe Aemro Selassie, who participated in a press briefing Wednesday at the IMF spring meetings, which are…
The president of Equatorial Guinea will need to declare his assets in keeping with requirements set by the International Monetary Fund, in order for the West African nation to receive a US$283 million bailout agreed to earlier this month. That’s according to a Bloomberg interview with Lisandro Abrego, the IMF’s…
President of Mozambique Filipe Nyusi met with Christine Lagarde, the head of the International Monetary Fund (IMF) as they attended the Belt and Road Forum in Beijing. She assured him that a USD$118 million loan, approved by the IMF last week to support recovery from Cyclone Idai impacts, reflects the…
Botswana continues to be an economic bright spot in southern Africa, with the latest International Monetary Fund (IMF) assessment showing a rebound from slower GDP growth in 2017 that’s tied to stronger diamond sales and higher government spending. The IMF assessment team, led by Enrique Gelbard, completed a visit to Gaborone…
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…
Côte d’Ivoire continues its fast-paced economic growth, and its medium-term outlook remains favorable although some risks remain, according to an International Monetary Fund (IMF) staff team that’s just wrapped up a visit to Abidjan. The IMF team led by Dhaneshwar Ghura met with, among others, President Alassane Ouattara, Prime Minister…
Tunisian Prime Minister Youssef Chahed has said the government will crack down on anti-austerity protesters after their peaceful marches spiraled into violence in a number of the North African nation’s cities. “We are in a democracy, and those who want to protest can do it during the day, not at…
Mobile money access is a cornerstone of Africa’s economic future and among the technologies highlighted by Christine Lagarde during remarks in Addis Ababa on Friday. The managing director for the International Monetary Fund was in Ethiopia to address the United Nations Economic Commission for Africa, with a speech that emphasized…