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

Tunisia 2

 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 […]

China To Take Over The Management And Operations Of Tanzania-Zambia Railway Authority (Tazara)

Tazara

 China is to take over the management and operations of Tanzania-Zambia Railway Authority (Tazara), in a major plan that will herald privitisation of the struggling corporation, The Citizen can reveal. A technical team from Tanzania, Zambia and China is putting together details of the plan whose proposals include reducing the bloated Tazara workforce. Tanzania and […]

Tunisia And Libya Reach Agreement On Resumption Of Border Trade

Tunisia 3

 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 […]

Drought Crisis: U.S. Agency for International Development Donates $128 Million In Aid To Ethiopia

Ethiopia Drought

 The U.S. Agency for International Development said it will donate almost $128 million to support more than 10 million Ethiopians suffering from the country’s worst drought in half a century. The funds will pay for food, water, malnutrition treatment, mobile health teams and seeds, Acting Assistant Administrator for the Bureau of Democracy, Conflict and Humanitarian […]

Kenya Woos South Sudan After Oil Pipeline Deal With Uganda Collapses

Oil Pipeline 2

 Kenya is reviving its deal with South Sudan in which the latter will export oil through Lamu Port. This is aimed at increasing use of the Lokichar-Lamu crude oil pipeline. The move comes after the collapse of the Uganda deal. However, experts warn that Kenya could find itself in a difficult situation again saying Total, […]