African Reserves Loans

What are the stakes for the global economy, the price of oil as war looms in Ukraine? All you need to know

Is Vladimir Putin planning an invasion of Ukraine, as evidenced by Russian forces massing on the country’s borders? Is he trying to force concessions on his neighbor and the West, or is he bluffing? Putin’s motives are unknown to anyone. His own foreign minister seemed to be kept in the dark. However, if violence is […]

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United Capital records 44% increase in profits to N11.26 billion in 2021

Stanbic IBTC Holdings PLC, part of the Standard Bank Group, recently hosted a webinar titled “2022 ‘Virtual Economic Outlook – Investing and Planning in an Election Cycle’. The event which aimed to reflect on the economic trends that shaped 2021 and project into 2022, was held on Monday, February 14, 2022. According to the financial […]

African Reserves

Nigerian growth stops in 2021

Nigeria’s growth all but stalled in the last quarter of 2021, dashing hopes that Africa‘s most populous country will recover quickly from Covid-19. Capital Economics, a London-based economic research firm, has built a model that suggests growth slowed significantly in the fourth quarter after falling from 5% in Q2 to 4% in Q3. The company […]

African Reserves

Buhari: Our job creation, economic diversification policies are working

According to him, the inauguration of the cement plant is an indication that the federal government’s policies on economic diversification, job creation and creating an environment conducive to business prosperity are working. He described the factory as the largest employer of private sector labor in the northwestern part of Nigeria. The president told that in […]

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Nigeria: The dark shadow behind the food pyramids

It is time to move towards more modern entrepreneurship in the Nigerian agricultural sector. It’s time to admit that the era of food pyramids is long gone, especially not government-inspired ones. Today, the pyramids only cast shadows of a bygone past. The agricultural sector currently employs the majority of the Nigerian workforce, most of whom […]

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Unlike other parts of the world, prices in China are stable

Unlike other economic powerhouses, China saw prices fall last year, paving the way for the possibility of lower interest rates in support of measures undervalued by the housing crisis.In 2021, inflation was 0.9% (and 1.5% year-on-year in December and 2.3% in November), according to the National Statistics Office.This is a very slow pace compared to […]

African Reserves

Nigeria: As CBN Simplifies Forex Access Process

The introduction of an electronic foreign exchange request should simplify the process of accessing the greenback. The recently introduced electronic exchange (forex) application has been described as a major tool to facilitate access to forex for travelers, SME operators, those who pay tuition fees, health bills and others. who need the greenback for genuine transactions. […]

African Reserves

Emerging Markets Central Bank Asset Purchases Can Be Effective …

[ad_1] (MENAFN- Caribbean News Global) By Tobias Adrian, Christopher Erceg, Simon Gray and Ratna Sahay Over the past two decades, central banks in emerging markets have made substantial progress in building the credibility necessary to conduct countercyclical monetary policy. During the COVID crisis, many of these central banks not only cut interest rates sharply, but […]

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Bangladesh’s aid to Sri Lanka enhances the image and prestige of Bangladesh

[ad_1] Added the 30 december 2021 Other view By: Hafizur Talukdar A few years ago, debt-ridden Bangladesh is now a country of unprecedented success in debt relief. The world today looks at Bangladesh in amazement. Bangladesh only borrowed from other countries or organizations. Now that history has changed and has started lending. Bangladesh has provided […]

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Why the Tanzanian shilling held up against the US dollar in 2021

[ad_1] By Rosemary Mirondo Dar es Salaam. The Tanzanian shilling ended the year with a strong performance against the US dollar, thanks to a steady flow of greenbacks from the recovery in tourism, exports and funds from development partners. The local currency started the year with an average exchange rate of Sh 2,298.46 per dollar […]

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Nairobi abandons plan to renationalise Kenya Airways

[ad_1] The Kenyan government has abandoned its plan to renationalize Kenya Airways (KQ, Nairobi Jomo Kenyatta) but will instead protect its financial interests in a $ 1 billion restructuring of the national carrier which will include a debt assumption of $ 827 million and an injection of funds of $ 473 million. , revealed the […]

African Reserves Loans

Bangladesh’s assistance to Sri Lanka strengthens its image and prestige

[ad_1] Bangladesh, riddled with debt a few years ago, is today a country of unprecedented success in debt relief. The world today looks at Bangladesh in amazement. Bangladesh only borrowed from other countries or organizations. Now that history has changed and has started lending. Bangladesh has provided loans to Sri Lanka and Sudan. Bangladesh first […]

African Reserves Loans

Angola: IMF Executive Board Completes Sixth Review of Angola’s Extended Credit Facility Agreement and Concludes 2021 Article IV Consultations

[ad_1] Washington, DC: The Executive Board of the International Monetary Fund (IMF) today completed the sixth review of Angola’s economic program supported by an expanded arrangement under the Fund’s Extended Facility (EFF) and concluded consultation under Article IV [1] with Angola. The Council’s decision authorizes an immediate disbursement of SDR 535.1 million (approximately $ 748 […]

African Reserves Loans

Oil shocks test the courage of Nigerian banks

[ad_1] When the coronavirus pandemic caused global oil prices to plummet and the Nigerian currency, the naira, to fall last year, many feared the worst for the country’s biggest banks. Nigeria is Africa’s largest oil producer. It depends on crude for almost all of its foreign exchange earnings and about half of its government revenue. […]

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IMF Executive Board Concludes Annual Discussions on CEMAC Common Policies and Common Policies in Support of Member Countries’ Reform Programs

[ad_1] Download logo The IMF Executive Board concludes annual discussions on CEMAC common policies and common policies in support of member countries’ reform programs. The pandemic crisis which lasted nearly two years left CEMAC in a fragile external position. A stricter political stance, high oil prices and renewed commitments by heads of state to accelerate […]

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Who benefits from the $ 157 million loan approved by the World Bank in June 2021 for Liberia?

[ad_1] December 9, 2021 J Yanqui Zaza of The Perperstive Challenges David Malpass of the World Bank Honorable David MalpassPresident of the World Bank1818 H Street, NOWashington, DC 20433 Re: Who benefits from the $ 157 million loan approved by the World Bank in June 2021 for Liberia? Dear President David Malpass: The public would […]

African Reserves Loans

Stocks to rebound on Omicron hopes and oil rally

[ad_1] MARKET ENVELOPES To watch: Manufacturing orders / turnover in Germany; Retail sales in Italy; UK Car Registrations, Construction PMI, Household Finances Review, CBI Economic Forecasts; meeting of the Eurogroup of euro area finance ministers; no major company update is expected Opening call: Allaying fears about Omicron’s seriousness should help fuel a rally in European […]

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Foreign exchange reserves fall by 21.8 billion shillings on foreign debt payments

[ad_1] Capital markets Foreign exchange reserves fall by 21.8 billion shillings on foreign debt payments Wednesday, November 24, 2021 Central Bank of Kenya. PHOTO FILE | NMG By ELIZABETH KIVUVAMore from this author Summary The latest data from the Central Bank of Kenya (CBK) shows that reserves stood at 996.3 billion shillings ($ 8.873 billion) […]

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Tunisia: Kais Saied castigates rating agencies

[ad_1] Tunisian President Kais Saied on Thursday accused international rating agencies of using “biased criteria” in assessing the country’s ability to attract investment. This happened during a meeting with Financial Markets Council (CMF) Chairman Salah Sayel, a day after the country’s central bank (BCT) sounded the alarm over declining foreign exchange reserves. , the deterioration […]

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Economy 2021

[ad_1] The writer heads the Sustainable Development Policy Institute. The Pakistani economy faces a triple challenge: Internationally, it faces soaring prices of essential commodities such as oil, gas, wheat and sugar and unusually high shipping costs. raised on its foreign trade; at the regional level, it is grappling with the economic and financial fallout from […]

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The Treasury is not transparent with the IMF’s special drawing rights

[ad_1] By guest writer On August 23, the International Monetary Fund (IMF) injected liquidity into all of its member countries worth $ 650 billion in Special Drawing Rights (SDRs). Uganda received the equivalent of Shs 1,200 billion from this injection. This money was allocated according to the participation of member countries in the IMF. Uganda’s […]

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Nigeria struggles to revive struggling oil palm sector

[ad_1] Standing next to piles of dark red palm fruits ready to be crushed for their essence, Nigerian farmer Micah Ojo hopes to capitalize on the government’s willingness to revive the country’s once thriving palm oil sector. His farm is one of the small plantations scattered across southern Nigeria where the government is investing heavily […]

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Sri Lanka awaits stimulus package amid currency crisis – Opinion

[ad_1] Sri Lanka’s economy is reeling from a foreign currency crisis during pandemic economic turmoil. A long-standing dependence on imports has finally caught up to drain foreign exchange reserves, already strained by large debt repayments in the absence of US $ 5 billion in tourism and influx of sovereign bonds. Despite the apocalyptic predictions of […]

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Nigerian banks do not have enough dollars to finance the acquisition of Shell assets in Nigeria – Agbaje – Nairametrics

[ad_1] Nigerian lenders probably do not have enough dollars to finance clients interested in acquiring the assets of Shell Petroleum Development Company Limited. This claim was made by the CEO of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje during GTCO’s investor conference which was held virtually, according to Bloomberg. Such a deal, according to […]

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Tunisia: 9-day siphoned foreign exchange reserves. But good news of 700 million dollars!

[ad_1] Tunisia never ceases to amaze… Indeed, as the country turns in circles, and political vicissitudes punctuate its daily life, it has just repaid a bond loan with an American guarantee in the amount of 500 million dollars, contracted on August 5, 2016 It is the second of its kind and of the same amount, […]

African Reserves

Virus variants threaten global recovery, G20 warns

[ad_1] Variants, vaccine shortages increase risks-G20 Global tax deal on track for October signing But obstacles from the US and EU could complicate matters Call for financial stability VENICE, Italy, July 10 (Reuters) – An upsurge in new coronavirus variants and limited access to vaccines in developing countries threaten the global economic recovery, finance ministers […]

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Fitch downgrades Tunisia to “B-”; Negative outlook

[ad_1] Fitch Ratings on Thursday downgraded Tunisia’s long-term default rating of foreign currency issuers (IDRs) to “B-” instead of “B”. The Outlook is Negative. The downgrade to “B-” and the negative outlook reflect increased fiscal and external liquidity risks in the context of further delays in agreeing to a new program with the IMF, which […]

African Reserves

EMERGING MARKETS – Stocks and currencies fall as Fed minutes and virus issues fuel caution

[ad_1] Band Ambar Warrick July 7 (Reuters) – Most emerging market currencies fell on Wednesday, as stocks were expected to experience their worst losing streak in 10 months, with investors fearing more hawkish signals from the minutes of the recent US Federal Reserve meeting. MSCI Emerging Market Currency Index .MIEM00000CUS fell 0.3% to a two-month […]

African Reserves Loans

CDMT 2022-2024: As FG seeks a “new” loan of 15 trillion naira | The Guardian Nigeria News

[ad_1] The government regularly talks about tax reforms that would allow it to increase infrastructure spending and channel more resources into non-oil sector growth, but translating intention into action seems overkill as the medium-term spending framework and the 2022-2024 Paper budget strategy (MTEF / FSP nevertheless reflects old habits. In March, the country’s documented debt […]

African Reserves

Delta variant of Covid creates gap in emerging markets as outperformers strike

[ad_1] Countries lagging behind in vaccination rates, such as South Africa and Russia, could feel the pressure as they tighten restrictions that will hurt economic activity, according to Crédit Agricole CIB. Once the best performers of 2021, the rand and ruble were among those that pushed an emerging market currency index down in June for […]

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Banks’ financial positions in Egypt increase by EGP 532 billion in Q1 2021: CBE

[ad_1] The Central Bank of Egypt (CBE) revealed that the total financial position of banks operating in the local market, except itself, was around EGP 7.554 billion at the end of March 2021. This from the 7.022 billion EGP recorded in December 2020, reflecting an increase of approximately 532 billion EGP. The CBE said in […]

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

[ad_1] 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 […]

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Tanzania: Samia slams high interest rates

[ad_1] 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 […]

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

[ad_1] (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 […]

African Reserves Loans

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

[ad_1] 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 […]

African Reserves Loans

WTO chief urges G20 leaders to negotiate intellectual property waiver

[ad_1] Bloomberg Don’t fear the downside: the Fed will dominate the treasury market for years (Bloomberg) – Sign up for the New Economy Daily newsletter, follow us @economics, and subscribe to our podcast Treasure investors worried about when the Federal Reserve will cut bond purchases risk missing out the big picture: its more than $ […]

African Reserves

The 88 billion naira treasury bill auction was oversubscribed yesterday

[ad_1] 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. […]

African Reserves Loans

Nairametrics Economic Indicators and Market Summary

[ad_1] 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. […]

African Reserves Loans

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

[ad_1] 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. […]

African Reserves Loans

Why Ghana is not getting the full value of its cocoa beans – and how that could change

[ad_1] The global chocolate industry is worth more US $ 150 billion. West African supplies 70% cocoa beans, but most of the value of a chocolate bar is generated in Europe and North America. West African economies receive less US $ 6 billion. This despite a growing demand for consumer chocolate in West Africa, part […]

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Foreign exchange reserves rise by 7.7 billion shillings on export earnings

[ad_1] Currencies Foreign exchange reserves rise by 7.7 billion shillings on export earnings Tuesday, April 27, 2021 Headquarters of the Central Bank of Kenya. FILE PHOTO | NMG Foreign exchange reserves held at the Central Bank of Kenya (CBK) increased by a marginal Sh7.7 billion ($ 71 million) in the week to April 22, mostly […]

African Reserves

Biden administration imposes tough new sanctions on Russia in response to cyber attacks and election interference – International law

[ad_1] United States: Biden administration imposes tough new sanctions on Russia in response to cyber attacks and election interference April 21, 2021 Winston & Strawn LLP To print this article, simply register or connect to Mondaq.com. On April 15, 2021, President Biden issued an executive order (found here), “Freezing of Assets in Respect of Specified […]

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Small businesses in limbo while waiting for coronavirus help for them

[ad_1] Small businesses try to defer bills and secure emergency loans to stay afloat amid coronavirus scourge as they wait for relief specially reserved for them in the $ 2 trillion stimulus package which makes its way to Congress. The bill, approved by the US Senate on Wednesday and awaiting a decision in the House […]

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Banks were unprepared for an influx of coronavirus loan applications to small businesses

[ad_1] The Trump administration $ 349 billion emergency paycheck protection program to help small businesses cover their wage costs was to be rolled out on Friday, April 3, with banks accepting requests from businesses slammed by the coronavirus. (Applicants must have fewer than 500 employees.) All week before the start date, President Trump, Secretary of […]

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Kuroda says BOJ will continue to work closely with Suga’s new government

[ad_1] The Bank of Japan will work closely with the country’s new administration headed by Prime Minister Yoshihide Suga to achieve the central bank’s 2% inflation target, Governor Haruhiko Kuroda said Thursday. “We have maintained communication and coordination (with the government) to continue our monetary policy,” Kuroda said at a press conference after a two-day […]