By Laura Matthews NEW YORK (Reuters) – The U.S. dollar rose against the euro and sterling on Thursday and set a more than one-week high against a basket of its major peers as traders sought safety after a series of economic data prompted a reassessment of their outlook for global monetary policy. The number of …
Dollar stronger as market rethinks monetary policy outlook Read More »
By Jorgelina do Rosario, Christian Akorlie and Rachel Savage LONDON/ACCRA (Reuters) -Ghana’s official creditors are poised to grant financing assurances and form a committee co-chaired by France and China – key steps for the nation to secure a $3 billion International Monetary Fund (IMF) loan, sources told Reuters. The country’s bilateral lenders are expected to …
By Marc Jones LONDON (Reuters) -Tunisia and Egypt are edging closer to major debt crises that could suck in a volatile North Africa region and pose tough choices to wealthy Gulf Arab neighbours, investors and analysts warn. The countries are already being challenged by shortages of essential goods and financial market dysfunction and in Tunisia’s …
Analysis-North Africa backslides toward swirling debt troubles Read More »
WASHINGTON (Reuters) – The International Monetary Fund said on Thursday it has seen “good progress” in delivering bilateral financing assurances to Ghana that are needed for the IMF executive board to consider a three-year, $3 billion loan program for the west African country. IMF spokesperson Julie Kozack told a news briefing that the the Fund …
IMF sees ‘good progress’ in bilateral financing assurances for Ghana loan Read More »
LAGOS (Reuters) – Nigeria’s oil production fell below 1 million barrels per day (bpd) in April, its lowest level in seven months, data from the petroleum regulator showed on Thursday, after a strike at Exxon Mobil’s local units hit the country’s output. Oil production fell to 998,602 bpd after averaging 1.28 million bpd in the …
Nigeria’s April oil production below 1 million bpd – regulator Read More »
By Tannur Anders and Rachel Savage JOHANNESBURG (Reuters) -A sell-off in the South African rand and bonds gathered pace on Thursday, as news reports that South Africa had provided arms to Russia spooked investors already concerned about the economic impact of crippling power cuts. The rand touched a low of 19.3250 against the dollar, down …
South African rand hit by ‘perfect storm’ as sell-off escalates Read More »
WASHINGTON (Reuters) – The International Monetary Fund is in discussions with Ethiopian authorities, and any new program would require creditors’ financial assurances, a spokeswoman for the global lender said on Thursday. The IMF “welcomed” the progress toward restoring lasting peace in the East African country as well as the authorities’ “homegrown economic reform agenda,” spokeswoman …
IMF says Ethiopia program would require creditor assurances Read More »
WASHINGTON (Reuters) – The staff of the International Monetary Fund have updated their macroeconomic and debt sustainability views on Zambia, the fund said on Thursday without providing further details. “As what happens with almost all review missions, staff did update the macro framework and the debt sustainability analysis, including to consider new information from (International …
IMF staff updated Zambia debt sustainability analysis Read More »
By Chijioke Ohuocha ABUJA (Reuters) -The Nigerian naira hit a record low of 466 per dollar on the official market on Thursday, after the central bank weakened the currency on the spot market and at its foreign exchange auction as it tries to address a backlog of demand for foreign currency, traders said. Nigeria’s central …
Nigeria’s naira hits record low after central bank adjusts spot rate Read More »
By Duncan Miriri NAIROBI (Reuters) -Kenyan telecoms operator Safaricom’s core earnings fell by a fifth in the year to March 31, hit by the cost of starting operations in Ethiopia, it said on Thursday. The group, which is part owned by South Africa’s Vodacom and Britain’s Vodafone, launched its Ethiopia network last year, betting that …
Safaricom flags Ethiopia prospects as startup costs cut earnings Read More »
