The World Bank last week also announced that it had approved the first tranche of $300 million out of the $900 million three-year budget support facility.
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This development enables an immediate disbursement of approximately $60.7 million to Maputo, according to the IMF.
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The BRICS group of emerging countries was formed in 2006 by Brazil, Russia, India and China, with South Africa joining in 2010.
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Fidelity played a pivotal role in Musk’s takeover of Twitter, contributing to a $33.5 billion equity investment, with the remaining funds sourced through debt financing. The deal, finalized in October 2022, transitioned Twitter into a privately held company.
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The United States also removed three other African countries, the Central African Republic, Gabon, and Niger, from Agoa, effective from January 1.
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The agency also placed debt issued in Eurobonds, worth $1 billion, in “default” for the same reason
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Ethiopia initially sought debt relief under the G20-led initiative in early 2021.
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The green light comes as Somalia reached the “completion point” of the Heavily Indebted Poor Countries Initiative (HIPC), the IMF added in a statement.
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Fitch said it would downgrade Ethiopia to “DR” (restricted default) if she did not pay the coupon within a 14-day grace period.
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An OPEC spokesman didn’t immediately respond to an email seeking comment.
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In recent months, the government had accelerated reforms and focused on macroeconomic performance, responsible management of public finances and a stable financial system, three factors to establish the country’s credibility, particularly in the eyes of private investors.
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Government expects monetary policy in 2024 in the medium-term to regain price stability. Ghana’s inflation is expected to remain within the
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The Ministry of Finance and the International Finance Corporation (IFC), a member of the World Bank Group has held the
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Kenya’s currency, the shilling, which is trading at a historically low rate, has been overvalued for several years, according to
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Tanzania’s government signed Sunday (Oct. 22) a port management deal with Dubai-based DP World. The deal was signed in the
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Tunisian President Kais Saied dismissed the Minister of Economy and Planning on Tuesday and appointed the Minister of Finance as
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Nigeria has revealed its 2024 budget, totaling 26.01 trillion naira ($34 billion). The budget assumes an oil price of $73.96
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Chinese president Xi Jinping opened the Belt and Road forum in Beijing on Wednesday, with a message that China “can
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At the annual meeting of the International Monetary Fund and the World Bank, being held this week in Marrakech, Morocco,
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