The International Monetary Fund (IMF) has revised down Kenya’s economic growth forecast for 2024 and 2025, reflecting deepening fiscal challenges and persistent headwinds affecting the broader Sub-Saharan African region. The latest projections from the IMF’s World Economic Outlook (WEO) indicate that Kenya’s GDP will grow by just 5.0 percent in both 2024 and 2025, nearly […]
The International Monetary Fund (IMF) has called on Turkey to exercise caution regarding its upcoming minimum wage hike scheduled for January 1, 2025, urging policymakers to avoid a repeat of the inflation-fueling increase seen earlier in 2024. Jim Walsh, the IMF’s mission chief for Turkey, emphasized the importance of focusing on targeted support for the […]
Somalia is poised to leverage its extensive maritime resources through an ambitious new fisheries policy aimed at transforming the nation’s economy. As it strengthens its ties within the East African Community (EAC), to which it became a member in 2024, the government is keen to capitalize on the sector’s $2 billion annual potential, while addressing […]
In a significant ruling, Kenya’s High Court has upheld the validity of President William Ruto’s housing levy, a contentious tax measure aimed at generating funds for the construction of affordable homes. This decision marks a victory for Ruto’s administration in its efforts to address Kenya’s housing deficit and steady its finances amid a challenging economic […]
China’s export growth, which has been increasingly dominating global trade discussions, is primarily fueled by weak domestic demand and strong foreign consumption, particularly from the United States. This has contributed to rising trade surpluses in China, a trend highlighted by the International Monetary Fund’s (IMF) Chief Economist Pierre-Olivier Gourinchas during a recent interview at the […]
Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), delivered a powerful message at the 90th birthday celebration of former Nigerian President General Yakubu Gowon. Adesina highlighted Nigeria’s pressing economic issues, particularly the alarming youth brain drain, referred to as the “Japa” syndrome, where many young Nigerians are leaving the country due to economic […]
Treasury Cabinet Secretary John Mbadi is leading a delegation of high-ranking Kenyan officials to the United States for a five-day engagement with the International Monetary Fund (IMF) and the World Bank. These meetings, taking place in Washington, D.C., aim to deepen Kenya’s partnerships with these international financial institutions and address critical economic challenges. According to […]
Malaysia is set to introduce extensive fiscal reforms in 2025, expanding its sales and services tax (SST) and restructuring fuel subsidies, as the government gears up for record-breaking budget spending. Announced by Prime Minister Anwar Ibrahim on Friday, the fiscal measures aim to tighten the country’s deficit while managing rising public sector costs and boosting […]
A trade dispute between Rwanda and Tanzania has intensified, with Kigali accusing Dodoma of blocking its dairy exports despite a memorandum of understanding signed earlier this year. This row surfaced during a roundtable discussion held by the East African Business Council (EABC) with the Secretary-General of the East African Community (EAC), where the private sector […]
Kenya and South Korea have taken their six-decade-long diplomatic relationship to new heights, signing a landmark Memorandum of Understanding (MoU) aimed at transforming key sectors such as agriculture, energy, and technology. This agreement is expected to foster innovation, improve food security, and strengthen trade between the two nations, marking a significant step toward deeper collaboration. […]
Kenya, a vibrant East African economic hub, finds itself at a critical juncture, grappling with persistent challenges of corruption, illicit...
The United States labor market delivered a robust performance in June, with job growth surpassing economists' forecasts and the unemployment...
Africa is on the cusp of a profound digital transformation, with its data centre sector emerging as a critical backbone...
The vibrant city of Nairobi is currently hosting a pivotal event poised to redefine Africa's investment landscape: the inaugural NextFrontierAfrica...
