Zimbabwe claims loss of $150 billion due to sanctions
Zimbabwe's Vice President, Constantino Chiwenga, has declared that the nation has lost a potential economic gain of $150 billion over the past two decades due to Western-imposed sanctions.
International Monetary Fund
Truss fires finance minister Kwasi Kwarteng due to UK economic crisis
British Prime Minister Liz Truss sacked her finance minister on Friday, forcing Kwasi Kwarteng to take the blame for the turmoil caused by her right-wing economic platform as unruly Tories plotted her downfall.
Zambian kwacha gain value over South African rand
The Zambian kwacha currency is now stronger than the South African rand, with figures showing one Zambian kwacha was worth R1.15 around 09:20 on Friday.
IMF delivers bad news for Zimbabwe, projects massive economic growth drop
Zimbabwe's economic growth is expected to slump to about half of last year's levels amid growing fiscal instability and shrinking agricultural output, the International Monetary Fund (IMF) said on Monday.
Zambia secures US$1,3bn loan from IMF to restore fiscal stability
The International Monetary Fund (IMF) has approved a $1.3 billion loan to indebted Zambia to help restore fiscal stability and is urging the country to fight corruption.
Mozambique secures $300m World Bank grant after debt scandal
The World Bank on Monday signed a $300 million grant to Mozambique, returning to the country six years after aid was suspended due to a hidden debt scandal.
Tanzania secures $1 billion loan from IMF to cope with Ukrainian war impact
The International Monetary Fund (IMF) announced on Monday that it will provide a 40-month loan of $1.046 billion to Tanzania, mainly to help the country cope with the consequences of the war in Ukraine.
President Akufo-Addo defends atrocious IMF aid request
Ghanaian President Nana Akufo-Addo has defended the decision to seek assistance from the IMF, saying there is a need to restore public finances after the twin shocks of the pandemic and the war in Ukraine.
IMF Disburses US$1 Billion Special Drawing Rights Fund To Zimbabwe
HARARE - The country on Tuesday received its US$1 billion allocation of Special Drawing Rights (SDRs) from the International Monetary Fund (IMF), with part of the critical recourses set to go toward revamping sectors such as health, manufacturing, education agriculture and minerals resource extraction.
Zimbabwe Economy To Shrink Further In 2021
Zimbabwe economy is expected to decline by a further 18% this year due to the covid-19 pandemic which has left many businesses worldwide stuck in uncertainty.
