Tunisia Secures $2.9 Billion Credit Facility From IMF To Implement Economic And Financial Reforms

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 Tunisia’s finances got a boost after the International Monetary Fund (IMF) approved a $ 2.9 billion loan to aid the country implement economic and financial reforms. The four year credit facility aims to promote stronger and inclusive economic growth and reforming public institutions in the north African country. The money is expected to be released […]

Central Bank Of Kenya Lowers Benchmark Lending Rate By 100 Basis Points

Kenya CBN

 Kenya’s central bank has lowered its benchmark lending rate by 100 basis points to 10.5 per cent citing a fall in the country’s overall inflation. During a meeting chaired by the Central Bank of Kenya (CBK) Governor Patrick Njoroge, the bank’s monetary policy committee (MPC) lowered its key lending rate after holding rates since last […]

Tunisia And Libya Reach Agreement On Resumption Of Border Trade

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 Tunisia and Libya have reached an agreement for the resumption of trade from Monday, at the border post of Ras Jedir. The agreement provides for the establishment of a single customs duty for the goods and of a Joint Monitoring Committee to avoid new tensions between the two countries. Border traffic between Tunisia and Libya […]

Mozambique’s $2 Billion Secret Debt Triggers Economic Crisis – All Budget Support Stopped

IMF Africa Director

 Revelations that the government of Armando Guebuza took on more than $2 billion in debt in secret are creating a deepening economic crisis. The Group of 14 (G14) budget support donors have all suspended their contributions to the government budget, the President of Portugal, Marcelo Rebelo de Sousa, confirmed yesterday. The IMF had already announced […]

#WEFAfrica: The World Economic Forum On Africa Begins Today In Rwanda

WEF

 More than 1,200 people are gathering in Kigali, Rwanda’s capital city for the World Economic Forum on Africa which starts today May 11. They are from more than 70 countries and they represent business, government, academia, civil society, media and the arts. They will be discussing under the theme Connecting Africa’s Resources through Digital Transformation at the […]

South African Is Battling To Avert A Further Downgrade Of Its Credit Worthiness By Rating Agencies

SA Reserve Bank

 The South African government is hoping to avert a further downgrade of its credit worthiness by rating agencies Fitch and Standards and Poor’s. This follows an earlier decision by another ratings agency Moody’s not to downgrade the country’s credit rating of B-AA-2, which is two levels above sub-investment grade. Fitch and Standards and Poor’s have […]

Bukola Ogunyemi: An Inquest Into Nigeria’s Culture Of Corporate Corruption

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 According to public finance experts, Nigeria’s federally collected revenue from 1999 to 2014 stood at $690 billion. But you don’t have to live in Nigeria to know N138 trillion worth of human and infrastructural development does not exist anywhere. So how did Nigeria end up with stagnated development, less than appreciable growth, lower foreign reserves […]

Olu Akanmu: Government Must Let The Markets Work

NigeriansFuelScarcity

 If there is any lesson the Federal Government must learn from the lingering petrol crisis, in the unabated long queues at our petrol stations, it is that that a government cannot substitute itself for the market no matter the depth of its patriotic intentions.  From the management of the foreign exchange to petrol markets, we […]