Reuters Africa Business

GEORGETOWN (Reuters) -Guyana’s Vice President said on Thursday the country will not take any possible gas development off the negotiation table, including Exxon Mobil’s future offshore projects. Exxon’s eighth project, Longtail, is expected to be the first to develop non-associated gas in Guyana, and two more discoveries, Haimara and Pluma, could follow. An Exxon executive …

Guyana not taking any gas development off the table, vice president says Read More »

By Andrea Shalal WASHINGTON (Reuters) -The Group of 20 major economies, led this year by South Africa, said on Thursday the risk of a systemic debt crisis appears to be broadly contained, but many vulnerable low- and middle-income countries still faced high financing costs and other challenges limiting their ability to boost growth. G20 finance …

G20 vows to keep focus on developing countries’ debt issues Read More »

WASHINGTON/JOHANNESBURG (Reuters) -South African Reserve Bank Governor Lesetja Kganyago said on Thursday that developing nations should be able to challenge ratings agencies’ methodologies to ensure greater transparency. Speaking at a press conference following the conclusion of the Group of 20 finance chiefs meetings in Washington, Kganyago stated that transparency in ratings could yield better outcomes …

South Africa calls for greater ratings transparency at G20 meeting Read More »

By Colleen Goko and Karin Strohecker WASHINGTON/JOHANNESBURG (Reuters) -The International Monetary Fund said on Thursday it remains unable to lend to Zimbabwe due to the country’s outstanding arrears, but praised recent economic reforms as discussions progress on a potential staff-monitored program. “Zimbabwe’s ability to borrow financially from us is constrained by the fact that they …

IMF lauds Zimbabwe’s economic progress, but says arrears block lending Read More »

By Colleen Goko JOHANNESBURG (Reuters) -Ghana’s central bank has rebuilt its foreign reserves to the equivalent of four and a half months of import cover after they were nearly depleted during a 2022 economic crisis, Governor Johnson Asiama said on Thursday, crediting a new state-run gold trading body with helping plug foreign-exchange leaks. The GoldBod, …

State-run gold body has boosted Ghana’s foreign reserves, central bank chief says Read More »

By Colleen Goko and Karin Strohecker JOHANNESBURG/WASHINGTON (Reuters) -Sub-Saharan African governments are paying more to borrow at home than abroad as they turn increasingly to domestic banks to plug financing gaps, deepening risks for lenders and squeezing private investment, the International Monetary Fund said on Thursday. “The domestic cost of capital remains elevated across the …

IMF highlights risks of domestic borrowing in sub-Saharan Africa Read More »

WASHINGTON (Reuters) -International Monetary Fund Managing Director Kristalina Georgieva said on Thursday that she will send an IMF team to Senegal to discuss a new loan program for the West African country now that a debt misreporting problem has been resolved. Georgieva told a news conference that she met with Senegalese authorities at the IMF …

IMF to send team to Senegal to work on new loan program, Georgieva says Read More »