In an attempt to address the pressing issue of surging inflation, the Pakistani government, led by caretaker Prime Minister Anwaar ul Haq Kakar, has implemented a bold plan involving substantial fuel price reductions and the initiation of a price-control mechanism. Pakistan’s economic recovery journey is at a critical juncture, with the nation operating under a […]
Nigeria’s annual inflation surged to 26.72% in September, up from 25.8% the previous month, as reported by the country’s Bureau of Statistics today. The primary drivers of this spike were identified as food and non-alcoholic beverages, causing significant financial strain on consumers. The catalyst for this latest inflationary surge can be traced back to President […]
In a positive economic development for Kenya, the nation’s trade deficit for the first eight months of 2023 has shown substantial improvement, with a notable reduction of Sh108 billion. This significant decline in the trade deficit can be attributed to decreased spending on materials for factories, machinery for infrastructure projects, and fuel imports. Official provisional […]
In a pivotal development at the annual IMF and World Bank meetings, U.S. Treasury Secretary Janet Yellen has conveyed optimism regarding a significant shift in the International Monetary Fund’s (IMF) lending resources. This plan, endorsed by the United States, seeks to establish a more balanced approach to quota-based lending resources within the IMF, reducing its […]
Zambia has reached a pivotal milestone by successfully negotiating a debt agreement with its foreign creditors. The official announcement was made during the IMF-World Bank annual meeting in Marrakesh, Morocco, signifying a major step toward the country’s financial recovery. Zambia faced a challenging financial journey, being the first African nation to default on its debt […]
In a strategic move to address concerns regarding its $2 billion 2024 international bond, Kenya is set to repurchase a substantial portion before year-end. Central Bank Governor Kamau Thugge unveiled this initiative during an exclusive interview with Reuters, emphasizing Kenya’s proactive approach to managing its fiscal responsibilities. Kenya is actively negotiating with the Trade & […]
During the annual IMF and World Bank meetings in Marrakech, Morocco, French Finance Minister Bruno Le Maire delivered noteworthy updates on the progress made towards resolving the deadlock in European energy market reforms. This development has piqued international business interest. Minister Le Maire, speaking at a press conference during this prestigious event, emphasized the urgent […]
Tunis, Tunisia – Tunisia’s efforts to secure a long-awaited $1.9 billion International Monetary Fund (IMF) loan are currently on hold, as the nation is yet to submit new proposals for the loan’s terms. Speaking at a recent news briefing during the IMF-World Bank annual meetings in Morocco, Jihad Azour, the IMF’s Middle East and Central […]
Kenya has entered into discussions with the International Monetary Fund (IMF) and other development financial institutions to secure funding for the impending $2.0 billion (Sh297.6 billion) Eurobond repayment, due in June 2024. Facing challenges in global markets, the Kenyan government is exploring the option of obtaining a loan from these multilateral institutions to manage the […]
Germany’s economic outlook for 2023 has taken a somber turn, with the government revising its growth forecast downward, indicating a contraction in the European economic powerhouse. The Ministry of Economy now projects a 0.4 percent shrinkage in the German economy for the year, marking a notable departure from the more optimistic 0.4 percent growth estimated […]
In a significant strategic development for both Kenya and the broader African continent, the European Bank for Reconstruction and Development...
In a significant diplomatic and trade breakthrough, China on Friday officially signaled its approval for the export of critical rare...
In a comprehensive assessment of Nigeria's economic trajectory, the African Development Bank (AfDB) has released its 2025 Nigeria Country Focus...
East Africa's leading investment powerhouse, Centum Investment Company PLC, has sent ripples across the regional financial markets with a recent...
