First Independent Mena Newspaper
The International Monetary Fund Executive Board has approved a Resilience and Sustainability Facility (RSF) for Morocco worth about $1.3 billion. The arrangement will support Morocco’s transition to a greener economy and help strengthen its preparedness and resilience against natural disasters, including from climate change, the Washington-based institution pointed out in a release. The 18-months arrangement […]
Nabil Ammar, Tunisia’s Foreign Minister, is expected in Moscow on September 26 at the invitation of his Russian counterpart Sergei Lavrov, in a bid to strengthen bilateral cooperation between the two countries, Webdo Tunis reports, citing the Foreign ministry. “The visit will provide an opportunity to support African efforts to bring an end to the […]
The International Monetary Fund will lend Morocco $1.3 bln to help the country fend off climate change risks, Morocco’s news agency reported. “The IMF concluded a staff-level agreement with Morocco to provide $1.3 billion in financing over the long term,” the agency said, citing IMF chief Kristalina Georgieva. Georgieva made the announcement during her participation […]
India’s Prime Minister Narendra Modi, Chair of the African Union & Pdt. of the Comoros Azali Assoumani, President of France Emmanuel Macron, World Bank Chief Ajay Banga, IMF Managing Director Ms. Kristalina Georgieva and Head of European Commission Ms. Ursula von der Leyen have expressed “full solidarity with the Moroccan authorities and people” following the […]
Climate change that is already disproportionately affecting war-torn countries threatens to exacerbate conflict in fragile nations across the globe, but most of all in Africa, and lead to increased deaths, according to a new report published by the International Monetary Fund (IMF). While climate shocks alone may not trigger new unrest, the Washington-based global lender […]
The International Monetary Fund (IMF) has slammed African central banks for their misguided currency regulation, especially with regard to the ineffective disposal of their foreign exchange reserves. In particular, the IMF has scrutinized the African central banks’ rigid exchange rate regulations, criticizing them for disposing of their foreign exchange reserves in an ineffective attempt to […]
The Democratic Republic of Congo (DRC) and the United Arab Emirates (UAE) have signed a mining deal worth $1.9 billion for which the Gulf country will develop several mining fields. The deal was signed Monday with state miner “Société Aurifère du Kivu et du Maniema”, “Zawya” reports, citing a statement from the Congo’s President Felix […]
The International Monetary Fund (IMF) Managing Director Kristalina Georgieva hailed Wednesday the progress made in restoring debt sustainability globally including Chad, at a meeting of the G20 Finance Ministers and Central Bank Governors in India, “Zawya reports”. The central African country in November 2022 reached an agreement with its creditors, notably Swiss commodities trader Glencore, […]
The rise in cost of debt servicing has led to 25 countries in Africa being at risk of either high debt distress or in-debt distress, African Development Bank (AfDB) Group president has warned, just as the International Monetary Fund (IMF) has approved billion-dollar loans to Zambia and Senegal. AfDB chief, Akinwumi Adesina, said African markets […]
Credit Suisse has lost its bid to block the lawsuit filed by the Government of Mozambique against the Swiss bank for its role in the 2 billion dollar scandal known as the “tuna deal”, and will thus be brought to trial in October. A UK high court judge on Monday (4 July) refused to strike […]