The International Monetary Fund (IMF) has extended its support towards a new economic program for Pakistan, contingent upon government initiation, amidst ongoing election disputes. Prime Minister Shehbaz Sharif swiftly initiated talks with the IMF following his recent swearing-in, aiming to navigate the nation through pressing economic challenges. Pakistan, facing financial strain exacerbated by a delayed […]
The International Monetary Fund (IMF) has allocated $120 million to Uganda as part of the Extended Credit Facility (ECF) program, aimed at aiding the nation’s economic revival in the aftermath of the Covid-19 pandemic. This disbursement marks the fourth installment of support under the ECF arrangement, totaling $870 million since its commencement in 2021. Notably, […]
Kenya’s Treasury has disclosed the withdrawal of Sh105 billion from the International Monetary Fund (IMF)-backed dollar reserves, known as Special Drawing Rights (SDRs). This allocation constitutes 2.1 percent of Kenya’s domestic debt. Prompted by increased IMF allocations in August 2021, Kenya’s decision to access SDRs underscores the necessity for additional liquidity to navigate ongoing economic […]
In a bid to address the persistent undervaluation of its stock markets, South Korea’s Financial Services Commission has unveiled the “Corporate Value-up Program.” This initiative prioritizes shareholder returns through various incentives, including tax benefits, while encouraging listed companies to disclose plans for enhancing valuations. Analysts often refer to South Korea’s undervaluation as the “Korea discount.” […]
Zambia’s President Hakainde Hichilema delivered significant news on Saturday, confirming the successful negotiation of a crucial creditor agreement with China and India. This development comes after Zambia faced financial turmoil, defaulting on its foreign debts in November 2020. The agreement, a long-awaited breakthrough, marks a pivotal step in Zambia’s efforts to navigate its debt restructuring […]
In a significant move, the National Assembly has passed the Affordable Housing Bill 2023, a key initiative of President William Ruto’s administration aimed at rejuvenating the country’s housing sector. The bill, which is now set for consideration by the Senate, includes provisions for a 1.5 percent levy on workers’ gross pay to fund the government’s […]
The World Bank issued a stark warning today, stressing the critical need for developing nations to accelerate their economic growth amidst mounting debt pressures. The institution’s latest report highlights a concerning trend: emerging market governments are facing significantly higher borrowing costs. January saw international bond sales reach an unprecedented $47 billion, with countries like Saudi […]
The International Monetary Fund (IMF) has advised Morocco to establish a clear inflation target for its central bank, Bank Al Maghrib, amidst a backdrop of easing inflationary pressures. Morocco saw a reduction in annual inflation to 6.1% in 2023 from 6.6% in 2022, with further moderation expected to 2.4% in the current year. This decline […]
In a bid to enhance regulatory precision and accountability within the banking sector, the Central Bank of Kenya (CBK) has introduced specific fines for breaches in banking rules. Departing from previous practices of applying blanket fines, the CBK’s latest move aims to enforce discipline and adherence to regulatory standards. Under the newly published Draft Banking […]
Turkish-Russian trade faces tumultuous times as a new wave of U.S. sanctions threatens to disrupt financial transactions between the two nations. The executive order, issued in December by the United States, has cast uncertainty over the stability of trade relations, particularly in the energy sector. While the sanctions were not explicitly aimed at energy trade, […]
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...
