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Tag : International Monetary Fund

Business

NURTW condemns fuel, electricity tariff increments

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The Hope National Union of Road Transport Workers has asked the Federal Government to reverse the current increment in the price of petrol and electricity....
Business

Nigeria might fall into recession as virus takes toll – budget office

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Nigeria might fall into recession in the third quarter, the head of the country’s budget office said on Thursday, citing the impact of low oil...
Business

Nigeria’s Q3, Q4 GDP to reflect further economic slowdown – presidency

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Nigeria expects the third and fourth quarters to reflect the continued effects of a slowdown, after the economy contracted by 6.1% in the second quarter,...
Business

Nigeria’s $1.5 billion World Bank loan delayed over reforms – sources

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ABS-CBN The World Bank is unlikely to approve a much-needed $1.5 billion for Nigeria in August as planned due to concerns over desired reforms, three...
African News

Algeria economy rocked by one-two punch of coronavirus crisis

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Currency depreciation, inflation, negative growth, businesses closed: Algeria’s economy has been battered by the one-two punch of the coronavirus crisis and tumbling oil revenues. And...
African News

IMF approves $171.9 million to Madagascar to address coronavirus pandemic

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The International Monetary Fund (IMF) approved $171.9 million of funding to Madagascar, it said on Thursday, bringing the total COVID-19 emergency support to the country...
Business

AfDB approves $300 million loan to South Africa

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The African Development Bank (AfDB) has approved a roughly 5 billion rand ($300 million) loan to the South African government to help it fight the...
Business

Lebanon central bank sets up committee to restructure banks

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Lebanon’s Central Bank has set up a committee to restructure financially-stricken commercial banks and study their performance, a memo by the bank seen by Reuters...
African News

Tunisia seeks late debt payments as crisis hits economy, state budget

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Tunisia has asked four countries to delay debt repayments, it said on Monday as it announced more pessimistic economic and budget forecasts for 2020 because...