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 […]
The IMF’s annual meeting with the World Bank in Marrakech unveiled substantial financial commitments and discussed the ever-pressing issue of debt sustainability. At the heart of the announcement was the revelation by the director of the IMF’s Middle East and Central Asia Department, who highlighted the institution’s rapid response to the challenges faced by countries […]
In a bid to enhance private financing opportunities for developing countries, the World Bank is actively exploring the expansion of its guarantees for commercial loans. This strategic move comes in response to escalating global interest rates and the uncertainty surrounding the conclusion of the U.S. Federal Reserve’s current tightening cycle. Recent market turbulence led to […]
M-Shwari, Safaricom’s mobile lending platform, experienced a significant drop in deposits during the year ending March 2023. Deposits plummeted by 44.1 percent, decreasing from Sh745 billion in the same period in 2022 to Sh416.7 billion. This marks the first decline in deposits since the platform’s launch in November 2013. On average, Kenyan users deposited Sh1.14 […]
In a bid to address mounting economic concerns and prevent a return to dollarization, Zimbabwe has unveiled a gold-backed digital currency, named Zimbabwe Gold (ZiG). This initiative comes amidst growing worries over the stability of the country’s economy under President Emmerson Mnangagwa’s administration. Zimbabwe’s central bank has launched ZiG, a digital token denominated in milligrams, […]
Kenya’s imports have experienced a notable decline of almost 14% during the initial eight months of this year. This downturn underscores the significant impact of the weakening Kenyan shilling on the nation’s purchasing power. The Kenyan shilling has witnessed a substantial depreciation of 17% against the US dollar. This depreciation has made imports more expensive, […]
In a recent address, IMF Chief Kristalina Georgieva provided an overview of the current state of the global economy, highlighting both positive and concerning factors. She pointed out that while there are some positive developments, such as increased demand for services and progress in tackling inflation, there are also significant fiscal and financial risks that […]
Kenya's agriculture sector — the engine that directly powers 22.5% of the nation's GDP, employs more than 40% of its...
When Sanae Takaichi secured Japan's largest Lower House election victory since World War Two on February 8, 2026, financial markets...
On the morning of February 18, 2026, the Nigerian Exchange Limited quietly rewrote the rules of its own market. For...
The clock is ticking louder than the government had hoped. Kenya Pipeline Company's landmark Initial Public Offering — billed as...
