First Independent Mena Newspaper
US Treasury Secretary Janet Yellen will push this week for urgent resolution of requests by Ghana and Zambia for restructuring of their sovereign debts, as a record number of developing nations are at risk of a debt crisis, with ballooning inflation escalating borrowing costs. Yellen, who is scheduled to meet with her counterparts at this […]
The International Monetary Fund on Monday announced a plan to provide immediate debt relief to 25 member countries, including 19 African states to allow them to focus more on the coronavirus pandemic. According to the IMF Managing Director Kristalina Georgieva, the Washington-based institution approved the first batch of countries to receive grants, under its Catastrophe […]
African finance ministers have requested the support of the International Monetary Fund, the World Bank and the European Union for bilateral, multilateral and commercial debt relief amid the coronavirus crisis. The request was germinated from the second virtual meeting on Tuesday, hosted by Vera Songwe, Executive Secretary of the Economic Commission for Africa, and […]