African Reserves Loans

IMF says board discussed $ 650 billion increase in reserves, with process due to be completed in August

LAGOS: At just 29 years old, Nigerian pop artist Osinachi sold paintings on Microsoft Word for several thousand dollars, the equivalent in ether, a cryptocurrency often used to buy digital art. One of her works, “Becoming Sochukwuma,” shows a black dancer wrapped in an African fabric tutu, dreadlocks tied in a bun, swirling across a […]

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China pushes back the threat of inflation – Analysis – Eurasia Review

By Michael Lelyveld The Chinese government suffered a setback in its campaign against inflation as consumer prices accelerated last month despite pressure on producers to keep commodity prices low. On June 9, the National Bureau of Statistics (NBS) reported that the Consumer Price Index (CPI) for May rose 1.3% from the previous year, accelerating from […]

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Regions of Africa with more Chinese-backed projects were more likely to experience protests

Chinese investments in Africa have helped boost economic growth and improve social outcomes across the continent. Yet Chinese plans often seem to go hand in hand with civil protests. We wanted to know if these were isolated incidents or a wider public discontent. In nine research, we show that regions hosting Chinese-led projects are more […]

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Tanzania: Samia slams high interest rates

President Samia Suluhu Hassan yesterday ordered the Bank of Tanzania (BoT) to take appropriate action to deal with the high interest rates, calling for reasonable levels for lenders. The president said financial institutions should cut real interest rates in line with measures implemented by the central bank, and suggested that short-term lending rates be lowered […]

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Assessing globalization trends in the age of Covid

The coronavirus largely represents an acceleration of existing globalization trends, rather than a complete paradigm shift. Globalization has fluctuated over the years, but event panelists agreed that the 2007-08 global financial crash marked a turning point and triggered a “slowdown” trend. Falling incomes, rising unemployment and inequality have been fertile ground for the rise of […]

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Nigeria in 1min: Economic, Commercial and Financial News

Thursday June 10, 2021/6 a.m. / By news aggregator / Header image credit: Twitter; Monitoring COVID-19 Health Updates June 9, 2021: Nigeria’s COVID-19 status in 36 states and the Federal Capital Territory Confirmed: 166,982 cases (New: 64) Dump : 163,328 Death:: 2,117 (New: 0) Click here to read the latest news updates PROSHARE ECONOMY Headline […]

African Reserves Loans

Information Note on the Official Gold and Foreign Exchange Reserves of the Reserve Bank of South Africa as of May 31, 2021

PO Box 427 Pretoria 0001 South Africa 370 Helen Joseph Street Pretoria 0002 +27 12 313 3911/0861 12 7272 www.resbank.co.za Financial Markets Department Ref. n °: 16/6/2/7/1 Information Note on the Official Gold and Foreign Exchange Reserves of the Reserve Bank of South Africa as of May 31, 2021 This notice provides details of the […]

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South Africa’s rebuilt economy must be better and blacker

President Cyril Ramaphosa told the Black Management Forum that South Africa must rebuild its economy centered on black businesses. Ramaphosa said South Africa must emerge from the pandemic with an economy that creates more jobs and provides more opportunities for new entrants. He said funding agencies need to boldly support black businesses right now. President […]

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Outlook on Africa Finance Corporation’s rating upgraded to stable by Moody & rsquo s

(MENAFN – AETOWire) NEW YORK-Friday June 4, 2021 () – Africa Finance Corporation, the leading provider of infrastructure solutions in Africa, received an increase in its credit rating outlook from Moody’s Investors Service, which assigned a “stable” outlook. The decision ratifies the second investment grade ranking among African institutions for AFC, with Moody’s upholding the […]

African Reserves Loans

Outlook on Africa Finance Corporation’s rating upgraded to stable by Moody’s

NEW YORK,–(COMMERCIAL THREAD) – Africa Finance Corporation, the leading provider of infrastructure solutions in Africa, received an increase in its credit rating outlook from Moody’s Investors Service, which assigned a “stable” outlook. The decision ratifies the second investment grade ranking among African institutions for AFC, with Moody’s upholding the company’s long-term and senior unsecured issuer […]

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The Deepest Anxieties of the Inflation Hawks by James K. Galbraith

After rising consumer prices in the first quarter of the year, commentators already wringing their hands on inflation have now doubled their stance. But the economic arguments used to justify such fears simply do not stand up to scrutiny. AUSTIN – In a recent comment for The Washington PostFormer US Treasury Secretary Lawrence H. Summers […]

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Should Switzerland cooperate with China on development aid?

The Addis Ababa Urban Railway in Ethiopia was built by the China Railway Engineering Corporation and financed with loans from the Chinese state bank China Exim-Bank. Keystone / Daniel Getachew China has contacted Switzerland to cooperate on development aid projects. Switzerland has so far been open to such collaborations. NGOs warn of China’s political motivations […]

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US seizes two domains used in cyberattacks mimicking USAID communications

Bloomberg Zimbabwe threatens to seize platinum concession from Eurasian resources affiliate (Bloomberg) – Zimbabwe’s mining minister has informed Todal Mining Ltd., a company controlled by Eurasian Resources Group, that its platinum mining concessions could be seized as no progress has been made in their development. The Bokai and Kinonde concessions could be taken over under […]

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Christian Diet Guru ‘Tarzan’ Star Husband En route to MAGA Event When Plane Crashes: Report

The daily beast Lord Ashcroft’s daughter-in-law accused of shooting Belize policeman The daughter-in-law of British political and business titan Lord Michael Ashcroft was charged Monday with negligent manslaughter in the shooting death of a senior police official in Belize. 38, comes three days after her initial detention – after being found spattered with blood on […]

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Google reportedly made it harder to find Android privacy settings

Google’s approach to Android privacy comes under fire following revelations from Arizona antitrust lawsuit on phone tracking. As Insider reports, freshly unredacted documents in the case, suggest that Google has made Android privacy settings harder to find. When Google tested versions of the operating system that showed privacy features, the company reportedly saw greater use […]

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‘Friends’ meeting leads to 30% download increase on HBO MAX: Data

Bloomberg Putin bets coal still has a future (Bloomberg) – European governments are making plans to phase out coal, US coal-fired power plants are shut down as clean energy prices fall, and new Asian projects are scrapped as lenders move away from the dirtiest fossil fuel. Russia? The government of President Vladimir Putin is spending […]

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Media Advisory – Peterborough-Kawartha Accessibility Fund Virtual Announcement

Bloomberg China destroys top-flight educational startups’ IPO plans (Bloomberg) – China is stepping up its crackdown on its online education sector, forcing once high-profile startups to shelve plans for initial multi-billion dollar public offers this year. China’s post-Covid internet industry, which attracted more than $ 10 billion in venture capital funding last year from powers […]

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Unions must make sure their electric vehicle plans are in line with climate justice – LabourList

Rachel Reeves made a strong commitment to boosting the UK auto industry while cutting carbon emissions during her first speech as Phantom Chancellor earlier this month. She called on the UK to become “world leaders” in the production of electric vehicles and committed the Labor Party to plans for three gigafactories of electric vehicle batteries […]

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Crypto Lender Ledn Raises $ 30 Million From Alan Howard, Coinbase, And More

Bloomberg Canadian Banks Report Covid All-Clear Earlier Than Expected (Bloomberg) – Canada’s largest banks are reporting that financial woes related to the Covid-19 crisis are largely in the rearview mirror in North America – and sooner than analysts expected. in the face of a wave of defaults, the Royal Bank of Canada and the Toronto-Dominion […]

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With the warming of gold mergers and acquisitions, could the Bomboré d’Orezone project be ripe for the picking?

Gold analysts report substantial levels of pent-up demand for merger and acquisition (M&A) activity in the mid-tier and emerging producer space in the coming months as the world emerges from the pandemic and that people can do physical due diligence again. One of the best choices for acquisition is Orezone Gold (TSXV: ORE, US-OTC: ORZCF) […]

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Congo calls for review of cobalt mining deals, undermines China’s goal of leading global electric car market

ANI | Update: May 25, 2021 10:13 A.M. STI Beijing [China], May 25 (ANI): The President of the Democratic Republic of Congo (DRC), Félix Tshisekedi, has declared that he wishes to review a number of agreements concluded with foreign mining companies in a move that could have an impact on China’s ambitions to become the […]

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Ethiopia makes the wrong choices in its relations with the United States

Jimma Industrial Park in Jima, Ethiopia, Dec. 8, 2018. / Xinhua Jimma Industrial Park in Jima, Ethiopia, Dec. 8, 2018. / Xinhua Editor’s Note: Tom Fowdy is a British political and international relations analyst and graduated from Durham and Oxford universities. He writes on topics relating to China, the DPRK, Britain and the United States. […]

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Coronavirus: Africa needs $ 285 billion to fight the impact of the pandemic

The International Monetary Fund COVID-19 threatens decades of progress by African countries to become advanced economies, and global finance leaders have been warned that the continent needs huge investments in the years to come. The Managing Director of the International Monetary Fund, Kristalina Georgieva, told a summit in Paris that an additional US $ 285 […]

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DEAL: AJUA, leading customer experience platform acquires Kenya-based AI company WayaWaya

For an undisclosed amount, Ajua, the integrated customer experience management solution for businesses in Africa, has acquired WayaWaya, the artificial intelligence based in Kenya [AI] and machine learning [ML] company known for its innovative Janja platform that enables borderless banking and payments on social media apps and platforms. WayaWaya founder and principal Janja product builder, […]

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Nairametrics Economic Indicators and Market Summary

Lagos-based pan-African multilateral development finance institution African Finance Corporation (AFC) successfully issued a Eurobond at its lowest yield to date. This is an indication of the strong interest of global investors in the African continent and the development finance institution which is dedicated to infrastructure finance and investment in key sectors of the continent. This […]

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African Finance Corp. issues $ 750 million 7-year Eurobond at lowest yield

Lagos-based pan-African multilateral development finance institution African Finance Corporation (AFC) successfully issued a Eurobond at its lowest yield to date. This is an indication of the strong interest of global investors in the African continent and the development finance institution which is dedicated to infrastructure finance and investment in key sectors of the continent. This […]

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Total declares force majeure on $ 20 billion LNG project in Mozambique

Total has declared a force majeure on its multibillion-dollar LNG development in Mozambique after an escalation in attacks by Islamist insurgents forced Africa‘s largest private investment to be silenced. The French energy major said on Monday she had activated the contractual exit “in view of the evolving security situation” in Mozambique’s northernmost region, Cabo Delgado, […]

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March has been an important month for sellers of newly built homes; American Express Customers Are Not Spending As Much |

New home sales jumped in March WASHINGTON – New home sales jumped 20.7% in March, rebounding from the previous month when severe winter storms wreaked havoc in many parts of the country. Sales climbed at a seasonally adjusted annual rate of 1.02 million last month after falling 16.2% in February, the Commerce Department reported on […]

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Biden Earth Day Summit is an American outing celebration on climate change | Voice of America

An “evening out for the United States on climate change”. That’s how Nathan Hultman, director of the Center for Global Sustainability at the University of Maryland, describes the virtual summit that President Joe Biden is hosting with dozens of world leaders from April 22-23. After four years of contempt for the issue under former President […]

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DEAL: Nigerian API fintech startup Okra raises $ 3.5 million to expand data infrastructure

Okra, the Nigerian API fintech start-up, announced that it had closed $ 3.5 million in a funding round. This round of financing was led by the American company Susa Ventures. Other investors include TLcom Capital (the only investor in its $ 1 million pre-seed round in 2020); Accenture Ventures; Angel investors like Rob Solomon, president […]

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Idriss Déby, President of Chad for greater than 30 years, died in combating with insurgent forces – Obituary

In 2021, Chad dedicated 1,200 troops to the border space between Burkina Faso, Mali and Niger, the newest in a collection of abroad deployments that had additionally been carried out within the Central African Republic and Nigeria. Along with the interventions of international powers, Chad below Déby was ravaged by repeated indigenous uprisings. The primary […]

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The US can help the IMF rethink its lending

US Treasury Secretary Janet Yellen (left) and IMF Managing Director Kristalina Georgieva must work to align their approaches to financing science.Credit: Action Press / Shutterstock, Chesnot / Getty Last week, the world’s economic and financial communities closed their annual meetings – held online this year – on a welcome note. The International Monetary Fund (IMF) […]

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How China structures loans to become Africa’s ‘preferred’ lender – Quartz Africa

New report led by AidData, a US-based development finance research lab, reveals how Chinese lenders are using contracts to gain an advantage over other developing country creditors, limiting borrowers’ options for crisis management and complicating debt renegotiation. Researchers reviewed 100 contracts issued between 2000 and 2020 between Chinese lenders and 24 developing countries, including 11 […]