Mozambique president appoints IMF official as central bank governor

President of Mozambique Filipe Jacinto Nyusi. Photo©Markus Schreiber/AP/SIPAMozambican President Filipe Nyusi appointed Rogerio Lucas Zandamela, an International Monetary Fund (IMF) official, as central bank governor to replace Ernesto Gove, whose term has ended, the presidency said on Wednesday.

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IMF forecasts Senegal's GDP growth above 6 percent

A bank teller counts piles of old-style West African CFA Franc banknotes at a bank in Dakar, Senegal. Photo© BEN CURTIS/AP/SIPASenegal's economy is healthy and GDP should grow more than 6 percent this year and next, while its budget deficit will fall from a projected 4.2 percent of GDP this year to 3.7 percent in 2017, the International Monetary Fund said on Tuesday.

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IMF evaluates Ghana's fiscal outlook, could review assistance program

Photo©Yuri Gripas/ReutersThe International Monetary Fund (IMF) is evaluating Ghana's fiscal outlook for the rest of 2016 and will consider the third review of the country's $918 million assistance programme next month subject to the outcome, the Washington-based lender said on Monday.

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Zimbabwe stops hiring public workers as it struggles to pay

Harare owes $110 million to the IMF, $600 million to the African Development Bank and $900 million to the World Bank. Photo©AP/SIPAZimbabwe has stopped hiring new state workers after failing to pay its soldiers and teachers on time, according to an official notice, as President Robert Mugabe's government struggles with a big financial squeeze.

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Egypt to end fuel subsidies within three years

File photo©Matt Rourke/AP/SIPAEgypt plans to end fuel subsidies within three years and is aiming to increase fuel prices to 65 percent of their actual cost during the 2016/17 fiscal year.

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Egypt to get $2bn deposit from Saudi Arabia

Egypt's International Cooperation Minister Sahar Nasr. Photo©Mohamed Abd El Ghany/ReutersEgypt signed a deal earlier this year for a $2bn central bank deposit from Saudi Arabia, International Cooperation Minister Sahar Nasr said on Thursday.

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Ghana says on track to halve budget deficit after IMF deal

Minister of Finance and Economic Planning of Ghana Seth Terkper. Photo©Joshua Roberts/ReutersGhana is on target to halve its fiscal deficit this year after its $918-million aid deal with the International Monetary Fund, Finance Minister Seth Terkper said on Wednesday.

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Egypt needs $5-6bn in bilateral financing to seal IMF deal

Photo©Kim Kyung-Hoon/ReutersEgypt's preliminary deal for a $12 billion IMF loan programme can go to the board for approval only if the government secures $5-6 billion in bilateral financing for the first year, Chris Jarvis, the head of the IMF mission in Cairo, said on Thursday.

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Zambians vote in fourth elections in ten years

Zambians queue to cast their votes at a polling station in Lusaka, Thursday, Aug. 11, 2016 in a tight election race for president and parliament that has been marred by violence between rival factions. Photo©Moses Mwape/AP/SIPAMillions of Zambians have headed to the polls to decide who will lead the southern African nation and Africa's second-biggest copper producer for the next five years.

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Madagascar gets $305 million IMF credit approval

Photo©Kim Kyung-Hoon/ReutersThe International Monetary Fund (IMF) has approved an equivalent to $304.7 million in financial assistance for Madagascar under a 40-month Extended Credit Facility (ECF) arrangement to help shore up its economy, the fund said.

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Egypt expects to get at least $2 billion within 2 months of agreeing IMF loan

File photo©Kim Kyung-Hoon/ReutersEgypt expects to receive at least $2 billion within two months of agreeing a three-year $12 billion loan programme with the International Monetary Fund, a senior finance ministry official said on Thursday.

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Algeria to implement 'new growth model' to cope with oil price drop

Algerian President Abdelaziz Bouteflika. Photo©Sidali Djarboub/AP/SIPAAlgeria pans to launch a new "economic growth model" for the next four years focussed on reforming the tax system to bring in more revenue and reduce dependence on energy exports.

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Finance: Egypt says close to securing 3-year IMF loan programme

Photo©Kim Kyung-Hoon/ReutersEgypt said on Tuesday it was close to agreeing an International Monetary Fund (IMF) lending programme to ease its funding gap and restore market stability and was seeking to secure $7 billion annually over three years.

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Morocco gets two-year $3.5 billion IMF credit line

Photo©Reuters/ Kim Kyung-HoonThe International Monetary Fund (IMF) has granted Morocco a two-year $3.5 billion credit line for structural reforms to prompt more rapid and inclusive economic growth, Rabat's finance ministry said on Saturday.

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IMF tells Tanzania to curb public spending, urges reforms

Photo©ReutersThe International Monetary Fund told Tanzania on Wednesday to curtail public spending as it seeks to invest in several major infrastructure projects and urged it to implement structural reforms.

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Corruption in South Africa stunting reforms: IMF

Photo©Reuters/Kim Kyung-HoonCorruption in South Africa is hampering reforms needed to boost economic growth and greater transparency is needed at state-owned companies, a senior International Monetary Fund (IMF) official said on Tuesday.

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IMF agrees $150 million credit facility with Niger

Photo©ReutersThe IMF has agreed a $149.7 million extended credit facility to Niger, one of the world's poorest countries, with the first $17.1 million tranche to be paid immediately, its finance minister said on Thursday.

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Angola halves growth forecast, cuts spending as oil price bites

Angola's capital, Luanda. File Photo©REUTERS/Mike Hutchings/FilesAngola has halved its 2016 economic growth forecast and slashed government spending as lower oil prices hammer state revenues in Africa's largest crude exporter, the finance ministry said on Monday.

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Ethiopia budget increased by 13,6% to stimulate economy

Hailemariam Desalegn, Prime Minister of Ethiopia. Photo©Mark Lennihan/AP/SIPAEthiopian lawmakers have approved a 13.6 percent increase in the country's budget for the 2016/17 fiscal year with most of the expenditure expected to go to infrastructure such as roads.

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Ghana records 4.9% economic growth in first quarter

Photo©ReutersGhana's economy grew by 4.9 percent in the first quarter of this year as it showed some improvement from the 2015 figures, the country's statistical office said on Wednesday.

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