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Economy in Africa

  • Guinea says economic growth to dip to 5.8% in 2018

    GUINEA, 2017/10/17 Guinea’s economy will grow 5.8 % in 2018, down from an expected 6.7 % in 2017, the budget minister said on Tuesday, as it struggles with low commodity prices and unrest that has interrupted bauxite mining. The estimate is lower than the 7 % increase target authorities had been hoping to exceed in 2018, Budget Minister Mohamed Lamine Doumbouya told repoters in the capital Conakry.
  • Egypt sets priorities for 2018 African Caucus

    EGYPT, 2017/10/17 Egypt’s will prioritize investment , governance and youth economic empowerment next officially assuming presidency of the African Caucus for 2018, its Minister of Investment , Sahar Nasr said on Monday.Nasr made the statement as she took part in a conference held between World Bank President Jim Yong Kim and central bank governors from African nations over reshaping economies in the wake of troubled international trade.
  • What Global Finance Chiefs Are Saying About the Economy

    WORLD, 2017/10/16
  • Sub-Saharan Africa economic growth to pick-up next year

    AFRICA, 2017/10/15 Nigeria and South Africa are expected to lift sub-Saharan regional increase next year, a Reuters poll showed, once their central banks cut rates to boost Africa’s major – but sickly – economies. The two economies contribute additional than half of sub-Saharan Africa’s gross domestic product and the poll taken in the completed three days showed Nigeria’s economy, Africa’s biggest, will grow 2.4 % in 2018, up from 0.8 % this year. It has been in recession since late 2015.
  • Global financial crisis looms as 'new bubbles' begin to emerge, says outgoing German finance minister

    GERMANY, 2017/10/14 Financial expert Ernst Wolff gives Sputnik a taster of his new book, which warns that dependence on the financial industry and the US dollar has created a "financial tsunami," the consequences of which the world is all unprepared for. Financial expert Ernst Wolff, author of a bestselling analysis of the International Monetary Fund's "modern day crusade against the working people on five continents," has turned his attention to the world economy in his new book.
  • Global economic recovery may not last, warns IMF

    WORLD, 2017/10/13 Fund cuts UK and US increase forecasts, and as well tells governments not to get complacent in its new World Economic Outlook. The International Monetary Fund has said the world economy’s recent recovery may not last, despite a pickup in activity in all western nations except the UK. Marking the 10th anniversary of the onset of the financial crisis, the IMF said in its World Economic Outlook (WEO) there was a risk that governments could be lulled into a false sense of security by booming markets and policymakers needed to guard against complacency. Maurice Obstfeld, the IMF’s economic counsellor, cited high investment prices, rapid credit increase in China, political turmoil in Catalonia and a cliff-edge Brexit as risks to an improving world outlook.
  • IMF Says Global Recovery Strengthening, But Incomplete

    WORLD, 2017/10/12 The world economic upswing is strengthening and has become broad-based, presenting a window of opportunity for policymakers for reforms, but the recovery is still incomplete and may not last forever, the International Monetary Fund said Tuesday. In its new biannual World Economic Outlook, the Washington-based lender raised the world increase estimate for this year to 3.6 % from 3.5 % and the outlook for next year to 3.7 % from 3.6 %. In an interim WEO update in July, world increase projections were left unchanged.
  • IMF warnings on economy will fall on deaf ears among world leaders

    WORLD, 2017/10/09 Christine Lagarde, boss of the International Monetary Fund, is expected to deliver a hard-hitting speech at the organisation’s annual conference this week, urging world leaders to push ahead with reforms to turn the current world economic recovery into something additional sustainable. Lagarde, who is presently in her second four-year term as managing director of the Washington-based lender of last resort, will talk about a lack of education, training and productivity. She will, no doubt, develop the argument she put forward in London a fortnight ago that regulators need to be wary of lenders outside the mainstream repeating the same errors as the banks a decade ago.
  • Togo protests continues as business owners worry about economic impact

    TOGO, 2017/10/05 It seems like business as usual in Togo’s capital, Lome despite growing tension and ongoing protests calling for an end to President Faure Gnassingbe’s policy, but a lot of say the political crisis is having a negative impact on their livelihood. Residents say there have been internet cuts – a method increasingly used by governments to stifle criticism at sensitive times. An Entrepreneur, Marcel Agbedanou who owns an internet cafe said the situation is really deplorable, adding that it has led to critical consequences for their businesses.
  • Africa Convergence: Towards Africa's economic growth

    BOTSWANA, 2017/10/05 To surpass the current physical and mental borders which are hindering the development of the African continent, conference the digital challenge to achieve an Integrated and sustainable economy for increase. This was the issue on the schedule of the second Africa Convergence Conference was attended by about 30 speakers from all sectors of activity and about 300 CEOs for an unprecedented dialogue on the next of the continent. As well on the table for discussion was : regional integration, financing, unearthing talents and emerging issues related to the harmonization of economies.