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IMF Revises Kenya’s GDP Growth Forecast Amid External Pressures

The International Monetary Fund (IMF) has adjusted Kenya’s GDP growth forecast downwards, citing external pressures as the primary cause. In their April 2024 world economic outlook report, the IMF lowered Kenya’s projected growth rate from 5.5% to 5.0% due to various factors including disruptions in global trade and escalating tensions in key regions. Impact of […]

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IMF Calls for Fiscal Restraint Amidst Surge in Global Elections Image for illustrative purposes only.

In a remarkable year marked by an influx of national elections worldwide, the International Monetary Fund (IMF) is advocating for fiscal prudence. With a staggering 88 countries, representing over half of the global population, currently undergoing or having completed national elections in 2024, the IMF’s message resonates with urgency. The IMF’s Fiscal Monitor publication underscores […]

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KEPSA Collaborates with The World Bank to Launch Carbon Market Guidebook for Kenyan Enterprises

The Kenya Private Sector Alliance (KEPSA) has partnered with The World Bank to introduce the Carbon Market Guidebook for Kenyan Enterprises in Nairobi. This guidebook offers comprehensive assistance to Kenyan enterprises across various sectors, including agriculture, waste management, forestry, manufacturing, energy, transportation, and hospitality. Dr. John Wandaka, Vice-Chair of KEPSA’s Environment, Water, and Natural Resources […]

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IMF Reports $3.3 Trillion Global Output Loss Since 2020 Amid Lingering Pandemic Scars

In a recent address, IMF Chief Kristalina Georgieva painted a sobering picture of the ongoing repercussions of the COVID-19 pandemic. Despite glimpses of improvement, the global economy remains ensnared in the aftermath, grappling with a substantial $3.3 trillion output loss since 2020. Georgieva’s remarks, delivered at an event hosted by the Atlantic Council, highlighted marginal […]

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Luno Becomes South Africa’s First Licensed Crypto Provider

South Africa – Luno, South Africa’s longest-standing crypto asset service provider, has achieved a significant milestone by obtaining a license from the Financial Services Conduct Authority (FSCA) to function as a financial services provider. This accolade positions Luno as the inaugural dedicated crypto asset service provider in South Africa to receive such recognition, following the […]

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Kenya’s Stronger Shilling Sparks Economic Optimism for 2024

Kenya’s economic landscape is brightening as the Kenya shilling achieves a year-high against the U.S. dollar, reaching an impressive rate of 130. This surge, alongside other positive economic indicators, has ignited optimism among the nation’s business leaders, projecting a promising economic performance for 2024. The optimism stems from a convergence of factors: the notable easing […]

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US Inflation Edges Up

Newly released data has revealed a slight uptick in US inflation, stirring discussions not only in economic circles but also within the political landscape as the country gears up for the presidential election. The core consumer price index (CPI) showed a modest 0.4 percent increase in March, slightly surpassing expectations. Year-over-year figures remained steady at […]

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Ethiopia Contemplates Currency Devaluation to Secure IMF Bailout

Ethiopia, East Africa’s most populous nation, faces a critical decision in its quest for economic stability. Struggling with inflation and recent debt default, the country’s path to recovery hinges on securing a much-needed loan from the International Monetary Fund (IMF). The IMF’s recent departure from Ethiopia without a concrete agreement has heightened concerns over the […]

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World Bank Forecasts 5% Growth for Kenya’s Economy Amidst Increased Investments

The World Bank has released its latest Africa’s Pulse report, projecting a steady 5% growth for Kenya’s economy in 2024. This growth is attributed primarily to heightened investment activity following restored access to international capital markets. Key factors driving this growth include: However, while the World Bank’s forecast aligns with ongoing economic recovery trends, it […]

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