Tag: IMF
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IMF taps Jamaica finance minister for deputy role
The International Monetary Fund on Monday named Jamaican Finance Minister Nigel Clarke to a top post at the agency, after the official spearheaded fiscal reforms in the Caribbean nation. Clarke, nominated by IMF Managing Director Kristalina Georgieva, is set to replace Antoinette Sayeh as one of the IMF’s three deputy managing directors at the end…
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Three-quarters of African Governments are Tightening their Belts
Africa has been through painful bouts of austerity before, with damaging effects on health and education. The IMF examined 82 instances of African governments reducing deficits between 1980 and 2021. About a quarter of the adjustments came from tax rises, and three-quarters from spending cuts. But this time governments plan to have an even split.…
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IMF blackmails Ghana over LGBT law
Ghana’s parliament, which has been adjourned since March following a row between the speaker and the president over an anti-LGBT bill, will reconvene on Friday to discuss approval of ministerial appointees and other “urgent matters”. Majority leader Alexander Afenyo-Markin said in a statement that the urgent recall was “in good faith to enable government to…
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IMF directly financing terrorism by aiding Ukraine, agency’s director for Russia says
“The fund is directly financing terrorism by providing support to Ukraine,” the International Monetary Fund (IMF) Executive Director for Russia, Aleksei Mozhin told Mozhin pointed out that he had repeatedly raised the issue during the meetings of the IMF Board of Directors. The IMF’s loans to Ukraine mainly allow it to close the old ones, and there…
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Egypt to receive first tranche of expanded IMF loan next week
🇪🇬 Egypt will receive the first tranche of an expanded loan agreement with the International Monetary Fund (IMF) next week, Prime Minister Mostafa Madbouly said. Madbouly did not specify the figure, but the IMF said on Friday the expanded $8 billion financial support program enables the immediate release of $820 million. The agreement expands a…
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IMF mission on visit to Ethiopia finance ministry official said.
💰🇪🇹 An International Monetary Fund staff mission is in Ethiopia, a senior finance ministry official said on Thursday. Last month, IMF spokesperson Julie Kozack had said the fund would send a mission to Ethiopia to discuss its request for a loan programme. In December, the Paris Club of developed creditor nations said Ethiopia’s agreement with…
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IMF review mission to Zambia tentatively scheduled for mid-April
Zambia is planning to start rationing electricity next week as a devastating drought that has been declared a national disaster affects hydropower generation, as well as food production NEW YORK – The International Monetary Fund will assess the economic impact of a devastating drought on Zambia in a visit tentatively scheduled for mid-April, the fund…
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Guinea’s transition back to a democratic path
This will be a pivotal year for charting the trajectory of Guinea’s transition back to a democratic path. A military junta led by Colonel Mamady Doumbouya seized power from Guinea’s first democratically elected president, Alpha Condé, in September 2021. As part of a 10-point transition roadmap negotiated with the Economic Community of West African States…
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Three West African Nations Withdraw from ECOWAS, Citing “Inhumane” Sanctions
In a surprise move that sent shockwaves through the region, Mali, Burkina Faso, and Niger announced their immediate withdrawal from the Economic Community of West African States (ECOWAS) on January 28th, 2024. This unprecedented decision followed months of tensions with the regional bloc, stemming from the military coups that brought the current governments to power…
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New Financing to Support 900,000 Farmers and Road Users for Economic Transformation in Liberia
WASHINGTON, December 22, 2023 – The World Bank Board has approved a Second Additional Financing for the Rural Economic Transformation Project (RETRAP-AF II). This financing is funded by an International Development Association (IDA)* credit of US$76 million from its Scale-Up Window (SUW) and $9 million grant from the KfW Development Bank through the Liberia Reconstruction…
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