The severe drop in Africa's import and export trade as a result of the global COVID-19 pandemic is a major contributor to the continent's projected economic decline.
IMF: Africa Faces Unprecedented Threat to Development
Sub-Saharan Africa is facing an unprecedented health and economic crisis, the International Monetary Fund (IMF) said in its latest Regional Economic Outlook for Sub-Saharan Africa. The crisis threatens to reverse recent development progress across the region and may weigh on growth for years to come, the report concludes.
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Africa: An Unprecedented Threat to Development in Africa
IMF, 15 April 2020
Sub-Saharan Africa is facing an unprecedented health and economic crisis, the International Monetary Fund (IMF) said today in its latest Regional Economic Outlook for Sub-Saharan… Read more »
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Africa: The Great Lockdown: Worst Economic Downturn Since the Great Depression
IMF, 15 April 2020
The world has changed dramatically in the three months since our last update of the World Economic Outlook in January. A rare disaster, a coronavirus pandemic, has resulted in a… Read more »
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Africa: IMF Announces Debt Relief for African Nations to Fight Pandemic
VOA, 15 April 2020
The International Monetary Fund has approved a $500 million package to give six months of debt relief to developing nations struggling with the coronavirus pandemic. While the move… Read more »
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Africa: IMF Executive Board Approves Immediate Debt Relief for 25 Countries [19 in Africa]
IMF, 14 April 2020
Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) issued the following statement: Read more »
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Africa: COVID-19 Crisis Poses Threat to Financial Stability
IMF, 14 April 2020
The COVID-19 pandemic has caused an unprecedented human and health crisis. The measures necessary to contain the virus have triggered an economic downturn. At this point, there is… Read more »
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Nigeria: IMF Projects Negative GDP Growth in 2020
This Day, 14 April 2020
The International Monetary Fund (IMF) has predicted a negative Gross Domestic Product (GDP) of -3.4 per cent for Nigeria in 2020, due to the ongoing disruptions caused by the… Read more »
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Niger: IMF Approves a U.S.$114.49 Million Disbursement to Niger to Address the COVID-19 Pandemic
IMF, 14 April 2020
The Executive Board of the International Monetary Fund (IMF) today approved the disbursement of SDR83.66 million (about US$114.49 million) to be drawn under the Rapid Credit… Read more »
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Rwanda: How IMF Debt Service Relief to Rwanda Will Boost Economic Recovery
New Times, 15 April 2020
Rwanda has a six-month debt service relief from its International Monetary Fund (IMF) obligations which will allow up to $11M liquidity. Read more »
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Liberia: Liberia Among 25 Countries to Receive Debt Relief Service From IMF
FrontPageAfrica, 14 April 2020
Liberia is among 25 countries whose debts are being relieved by the International Monetary Fund (IMF) as part of strengthening global efforts against COVID-19. Read more »
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Ghana: IMF Approves U.S.$1 Bn for Ghana ... to Support COVID-19 Combat
Ghanaian Times, 15 April 2020
The International Monetary (IMF) Executive Board has approved one billion dollars for the government of Ghana to address the fiscal and balance of payment needs of the country… Read more »
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Burkina Faso: IMF Approves a U.S.$115.3 Million Disbursement to Burkina Faso to Address the COVID-19 Pandemic
IMF, 14 April 2020
The Executive Board of the International Monetary Fund (IMF) today approved a disbursement of SDR 84.28 million (about US$115.3 million or 70 percent of its SDR quota) for Burkina… Read more »
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Tunisia: IMF Approves a U.S.$745 Million Disbursement to Tunisia to Address the COVID-19 Pandemic
IMF, 10 April 2020
The Executive Board of the International Monetary Fund (IMF) today approved a disbursement in the amount of SDR 545.2 million (US$745 million or 100 percent of quota) for Tunisia… Read more »
InFocus
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True to the words of United Nations Secretary-General António Guterres - "This is not a financial crisis. This is a human crisis." -- UNECA's report on COVID-19 in Africa - ... Read more »
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The COVID-19 outbreak has set off the first recession in the Sub-Saharan Africa region in 25 years, according to the latest World Bank analysis of the region's economies. The ... Read more »
