JOHANNESBURG (Reuters) – Zimbabwe’s real GDP growth is expected to slow to about 3.5% in 2022 from 8.5% last year, the International Monetary Fund said on Thursday as it concluded its mission to Harare. Multiple shocks such as a surge in inflation, erratic rainfall and electricity shortages will continue to weigh on Zimbabwe’s growth prospects, …
IMF sees Zimbabwe’s 2022 real GDP growth slowing to about 3.5% Read More »
JOHANNESBURG (Reuters) – The South African rand weakened against a stronger dollar on Thursday, after the U.S. Federal Reserve and the European Central Bank signalled more interest rates hikes. At 1642 GMT, the rand traded at 17.4850 against the dollar, 1.92% weaker than its Wednesday close. Statistics South Africa figures on Thursday showed producer inflation …
South African rand, stocks on back foot after Fed rate signals Read More »
ABIDJAN (Reuters) – Senegal on Thursday issued a 150 billion CFA franc ($232.31 million) 12-year treasury bond to finance its 2023 budget, said NSIA Bank, a lead manager of the auction. The bond, which is being sold with a unit of 10,000 CFA francs at an annual rate of 5.95%, will be marketed from Dec. …
Senegal issues 12-year treasury bond of 150 billion CFA francs -NSIA Bank Read More »
JOHANNESBURG (Reuters) -The South African rand weakened against a stronger dollar on Thursday, after the U.S. Federal Reserve and the European Central Bank signalled more interest rates hikes. At 1642 GMT, the rand traded at 17.4850 against the dollar, 1.92% weaker than its Wednesday close. Statistics South Africa figures on Thursday showed producer inflation slowed …
South African rand, stocks on back foot after Fed rate signals Read More »
(Corrects company name to PineBridge Investments) By Rachel Savage JOHANNESBURG (Reuters) – Days after launching a bold domestic bond overhaul, Ghana struck a $3 billion loan deal with the International Monetary Fund in a quest to steady its debt-laden economy, but domestic resistance to the bond revamp threatens to stall that effort. The west African …
Ghana begins tackling debt restructuring pain as it secures IMF deal Read More »
ABUJA (Reuters) – Nigeira expects oil production to rise to 1.6 million barrels per day (bpd) by the first quarter of next year, Finance Minister Zainab Ahmed said on Thursday. Oil production hit 1.185 million (bpd) in November, figures from the country’s petroleum regulator showed, after output fell to less than 1 million in August, …
LONDON (Reuters) – Ghana’s cedi currency extended its rally on Thursday to strengthen another 15% and hit levels last seen in late July after the country reached a staff-level agreement on a $3 billion loan with the International Monetary Fund. The currency strengthened to 8 to the dollar in a fifth straight session of gains, …
By Chijioke Ohuocha ABUJA (Reuters) -Annual inflation in Nigeria climbed to 21.47% in November from October’s rate of 21.09%, accelerating for the 10th straight month as food prices surged, the statistics bureau said on Thursday. The National Bureau of Statistics (NBS) attributed the rise to a sharp increase in demand ahead of the Christmas season, …
Nigerian inflation rate climbs for 10th straight month in Nov Read More »
ABUJA (Reuters) – The World Bank has cut Nigeria’s 2022 growth forecast to 3.1% from a previous forecast of 3.8%, it said during a briefing in Abuja on Thursday. It said that the revision was due to slow economic growth in the third quarter from a year earlier, dragged down by the oil sector and …
World Bank cuts Nigeria 2022 growth forecast to 3.1% from 3.8% Read More »
WASHINGTON (Reuters) – The executive board of the International Monetary Fund on Wednesday said it had completed the first review under a 42-month financing program for Benin, giving the country immediate access to about $144 million. “The program is off to a strong start, with all end-June 2022 performance criteria and indicative targets met and …
IMF completes review of Benin loan program, disburses $144 million Read More »
