Gabon’s President Ali Bongo Ondimba took on Saturday the leadership of the Economic Community of Central African States (ECCAS), a regional organization promoting regional economic cooperation in Central Africa. The ECCAS held its 22nd summit in Kinshasa, the capital of the Democratic Republic of Congo (DRC). Bongo takes over from DRC leader Felix Tshisekedi Tshilombo […]
Zambia, the first African country to default on its debt in the COVID-19 era, has won International Monetary Fund board approval for a $1.3bn support package, an important step towards the nation restructuring its debt and a boost for the global effort to help indebted developing nations. The lending plan — an Extended Credit Facility […]
The Arab Monetary Fund has forecast Libya’s economy to expand by 14.3% in 2025, before moderating to 5.9% the following year, contingent on improved domestic stability and stronger investor confidence. In its latest Arab Economic Outlook report released this week, the Fund attributed the robust growth outlook to the hydrocarbons sector, which provides over 95% […]
