The IMF and World Bank are two financial institutions helping to keep Africa poor and dependent on its crippling loan for economic growth that is hard to achieve.
It is unbelievable that a country like Egypt is seeking a $4.8 billion USD loan from the IMF to help cover the country’s budget deficits and/or avoid currency devaluation. Can the new Egyptian government be trusted?
Dr. Jim Yong Kim today released a statement in response to his selection by the World Bank’s Executive Directors as 12th President of the World Bank. However, there have been complaints from developing countries that their citizens should have a chance to run the bank.
In its first detailed economic analysis in twenty-five years, the World Bank projects the economy of The Democratic Republic of Congo (DRC) is set to grow at up to 7 percent annually for the next two years.
The Board of Directors of the World Bank today approved a US$100 million credit to support the Government of Ghana’s efforts to scale up the development of commercial agriculture nation-wide.
The African Union Commission (AUC) attaches great importance to the on-going selection exercise for the next President of the World Bank and is happy to note the commitment to an open, transparent and merit-based process.
For the fifth consecutive day, the Nigerian people have staged national strikes throughout their country in protest of the recent removal of fuel subsidies, which more than doubled the prices of transportation and commodities.
IFC, a member of the World Bank Group, has obtained approval from Ghana and the eight member countries of the West African Monetary Union to establish local currency bond programs to strengthen domestic capital markets and support private sector development in the region.
As Africa is rising, particularly in the economic and technological sectors, its power and influence should increase alongside.