Serrari Group

IMF Projects 3.1% Global Growth for 2024 Amidst Economic Resilience

The International Monetary Fund (IMF) has revised its global growth forecast for 2024, predicting a 3.1% expansion. This adjustment reflects the continued resilience of the global economy despite prevailing challenges. During a recent press briefing in Johannesburg, IMF Chief Economist Pierre Olivier-Gourinchas highlighted the unexpected strength of various economies, including the United States and key […]

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AfDB Urges Kenya and Tanzania to Hasten Electricity Agreements for Regional Integration

Kenya and Tanzania are poised to strengthen their energy collaboration as the African Development Bank (AfDB) stresses the importance of expediting three key agreements. Valued at Sh43 billion ($309.26 million), these agreements aim to facilitate the exchange of surplus electricity between the two nations. Central to these agreements are a wheeling agreement between Tanzania Electric […]

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Kenya Loses $200 Million Amidst Oil Dispute with Uganda

In a tug-of-war over energy dominance, Kenya finds itself counting the costs of a bitter dispute with its neighbor, Uganda, as the latter pivots towards Tanzania for oil imports. Since October last year, tensions have simmered between the two East African nations, fueled by Uganda’s decision to seek alternative energy partnerships. Following Uganda’s announcement in […]

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IMF Upgrades Asia’s Growth Forecast, Cautions on China’s Economic Risk

The International Monetary Fund (IMF) has revised upwards its growth projections for emerging Asian economies, foreseeing a solid expansion of 5.2% in 2024, despite a modest deceleration from the previous year. This adjustment, reflecting stronger-than-anticipated growth in China, signals promising economic resilience across the region. China, a pivotal driver of regional growth, has seen its […]

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DRC and China Sign $7 Billion Infrastructure Deal for Mining Ventures

The Democratic Republic of Congo (DRC) has sealed a crucial partnership with Chinese construction giants, marking a significant milestone in the mining sector’s development. Under the agreement, Sinohydro Corp and China Railway Group Limited will invest $7 billion in infrastructure projects within the DRC as part of the Sicomines copper and cobalt joint venture. The […]

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Morocco Embarks on $1 Billion Annual Investment in Solar Energy

Morocco has announced a strategic move to bolster its renewable energy sector with a substantial annual investment of $1 billion in solar power projects. This initiative reflects the nation’s commitment to advancing its renewable energy goals while simultaneously reducing dependence on energy imports. According to a report from Hespress, Morocco’s plan entails steadily increasing its […]

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Kenya Faces Impending Debt Crisis Amidst Economic Challenges, IPF Report Showcases

A recent report by the Institute of Public Finance (IPF) has sounded the alarm bells for Kenya’s economic future, citing significant risks of a debt crisis. Despite years of substantial borrowing, Kenya has struggled to translate these financial injections into tangible economic growth and employment opportunities. During the unveiling of the MacroFiscal Analytic Snapshot (MFAS) […]

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Global Stocks Rise Modestly, Dollar Slips on US Inflation Data

NEW YORK/LONDON – Global stocks edged up marginally on Friday following the release of US inflation data by the Federal Reserve. The MSCI world equity index, tracking shares from 49 nations, recorded a slight 0.08% gain, reflecting cautious optimism among investors amidst concerns over government debt. The US Federal Reserve’s preferred inflation gauge, the Personal […]

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S&P Highlights Risk to Israel’s Credit Rating Amid Conflict Concerns

In a recent statement, Maxim Rybnikov of S&P Global Ratings raised concerns about Israel’s sovereign credit rating amidst the ongoing conflict with Hamas. Rybnikov warned that if the conflict expands beyond Gaza, it could prompt a downgrade in Israel’s credit rating. The decision to shift Israel’s outlook to “negative” from “stable” in October reflects apprehensions […]

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Court Of Appeal Halts Housing Levy Collection, President Ruto Vows to Press On

President William Ruto’s affordable housing initiative faced a hurdle today as the Court of Appeal declined the government’s request to continue collecting the housing levy. The panel of judges cited public interest in awaiting the resolution of legal issues before extending the levy. Undeterred by the setback, President Ruto reaffirmed his commitment to the housing […]

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