Guinean President Alpha-Condé

IMF approves aid for world’s 28 poorest countries, 22 of which in Africa

The International Monetary Fund (IMF) approved this week new emergency aid for 28 of the world’s poorest countries, 22 of which being Africa, to help them alleviate their debt and better cope with the impact of the coronavirus pandemic.   This second six-month tranche of debt service relief for 28 member countries under the Catastrophe […]

Morocco’s Central Bank expects economy to shrink -5.2%, cuts rates to release liquidity

Morocco’s central bank cut the key interest rate from 2% to 1.5% to shore up the economy and reduced the reserve requirement for banks to 0% to release more liquidity. The Bank revised downwards its forecasts for 2020 to -5.2%, the lowest rate since 1996, compared with 2.5% in 2019, as the coronavirus impact and […]

Trump pivots to trade in rare meeting with West African leaders

In a rare diplomatic move, President Donald Trump hosted the leaders of five West African nations — Liberia, Senegal, Gabon, Mauritania, and Guinea-Bissau — at the White House on Wednesday (9 July), declaring a shift in U.S. policy from aid to trade. The meeting comes amid deep cuts to U.S. foreign aid following the dissolution […]