By Elisha Bala-Gbogbo and Chijioke Ohuocha ABUJA (Reuters) -Nigeria’s naira briefly slumped to a record low against the dollar in thin trading on the official market on Thursday, bringing the official exchange rate within touching distance of the parallel market rate. The currency of Africa’s biggest economy fell as low as 1,105 naira to the …
Nigeria’s naira briefly drops to record low on official market Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened against the dollar on Thursday, slowly unwinding a rally that had sent the currency up more than 2% on Tuesday. At 1515 GMT, the rand traded at 18.3200 against the dollar, about 0.7% weaker than its previous close. The dollar was down around 0.2% against a basket of global …
South African rand weakens after this week’s strong rally Read More »
KYIV (Reuters) – Ukraine has sharply reduced its exports of farm goods to Asian and African countries so far in 2023 due to blocked seaports in the Black Sea, which has traditionally been the main export route, agricultural business association UCAB said on Thursday. The lion’s share of Ukrainian agrarian, metallurgical and chemical exports left …
Ukraine’s food exports to Asia, Africa fall due to blocked seaports -association Read More »
By Duncan Miriri and George Obulutsa NAIROBI (Reuters) -The International Monetary Fund has reached a staff-level agreement with Kenya, unlocking immediate access to a $682.3 million tranche and boosting the current lending programme by $938 million, the fund said on Thursday. The East African nation is grappling with acute liquidity challenges caused by uncertainty over …
Kenya gets additional $938 million from IMF, soothing nerves Read More »
JOHANNESBURG (Reuters) – South African lender Investec on Thursday reported half-year profit up 15.3%, led by increased loan volumes, corporate deposits and funds under management. The bank, which also operates in the UK, reported headline earnings per share of 36.9 pence for the six months to Sept. 30 and an interim dividend of 15.5 pence …
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices tumbled more than 1.5% on Wednesday on a bigger-than-expected rise in U.S. crude inventories and record production in the world’s biggest producer, along with mounting worries about demand in Asia. Brent futures settled down $1.29, or 1.6%, at $81.18 a barrel. U.S. West Texas Intermediate crude (WTI) fell …
Oil prices dive on big US crude stock build, record output Read More »
BLANTYRE (Reuters) – The International Monetary Fund’s Executive Board has approved a $174 million loan to Malawi, the southern African country’s finance minister said on Wednesday. Malawian authorities reached a staff-level agreement with the fund on the four-year Extended Credit Facility in September. Earlier this month it devalued its currency by about 30% as it …
IMF approves $174 million loan to Malawi – finance minister Read More »
JOHANNESBURG (Reuters) – The International Monetary Fund’s executive board has approved a loan of about $178 million for Malawi, with an immediate disbursement of about $35 million, the IMF said in a statement on Wednesday. (Writing by Anait Miridzhanian; Editing by Chris Reese)
By Rachel Savage and Karin Strohecker JOHANNESBURG/LONDON (Reuters) – Zambia’s official creditors including China rejected a deal the country struck with its international bondholders because they believed its “base case” scenario did not deliver debt relief comparable to what they offered in a separate deal, two sources familiar with the talks said. Official creditors said …
By Christian Akorlie and Maxwell Akalaare Adombila ACCRA (Reuters) -Ghana is making progress in talks to restructure its external debt and hopes to achieve a resolution by the end of the year, its finance minister said on Wednesday. In a budget speech, Ken Ofori-Atta said the economy was getting back on track with a smaller …
Ghana’s finance minister hopes for debt-restructuring resolution by year-end Read More »
