IMF

IMF, Somalia Reach Staff-Level Deal That Could Unlock $30 Million Somalia has secured a staff-level agreement with the International Monetary Fund that could release roughly $30 million in fresh financing, a timely boost as the government faces tighter aid flows, the bite of climate shocks, and the demanding work of rebuilding a post-debt-relief economy. The agreement, announced Sunday after two weeks of talks in Washington and Mogadishu, will go to the IMF Executive Board in the coming weeks. If endorsed, it would mark…

A glimpse of the International Monetary Fund's HQ in D.C., U.S., captured on April 8, 2019. Photo credits © REUTERS/Yuri Gripas/File Photo. Inquiries for rights, contact us. Good news from the IMF! The Ethiopian government gets a green light for the $3.4 billion aid package, with $340.7 million unlocked. The folks at the IMF board gave a thumbs-up last Friday for the initial review of the deal. This backing stems from Ethiopia's summer deal, culminating in a four-year financial arrangement. The country's journey towards…

A view of the International Monetary Fund (IMF) headquarters in Washington was captured on April 8, 2019. Photographer: Yuri Gripas for REUTERS. Licensing available upon request. Kenya is eyeing an additional financial boost from the International Monetary Fund before the current year wraps up. They've entered discussions about merging the seventh and eighth evaluations of their economic support plan, according to the country's central bank leader, who shared this on Wednesday. Back in early June, Kenya and the IMF struck…

In a move egged on by Western allies, Kenya's leadership has nudged the International Monetary Fund to dive deep into examining its murky corridors of power riddled with graft, as revealed by a couple of folks in the know to Reuters. This kind of probe, tagged officially as a "governance diagnostic," can only kick off with the asking of the respective country. It's the IMF's way of sniffing out how corruption and shaky governance might be sapping a nation’s coffers dry or wreaking havoc on the financial commonwealth. "In…

Somali Finance Minister Bihi Iman Egeh (center, right) spearheads a high-stakes dialogue at a major financial reform and economic development summit in Istanbul, Turkey. Key figures from Somali ministries and global partners are in attendance. Mogadishu (AX) — Wrapping up on Wednesday, a pivotal four-day conference focused on Somalia's financial overhaul and economic strides took place in Istanbul, Turkey. This gathering marked the second review of Somalia's Financial Reform and Economic Development Program, which enjoys…

According to more than 2.8 million votes according to the final result of the first round, Hakainde Hichilema was elected the seventh president of Zambia. Zambians have raised their voices to this businessman, nicknamed "HH", largely for his promise to turn the economy around. From now on, the new head of state must meet voters' expectations.…

World Bank approves USD 100 million for health services in Somalia MOGADISHU, Somalia -- The World Bank announced Thursday that it has approved a total of US $ 100 million to help improve health services in Somalia. The project, the World Bank's 30-year investment in Somalia's health sector, which aims to improve health services is funded by a $ 75 million grant from International Development…

In the Democratic Republic of Congo, the government has committed to a three-year program with the International Monetary Fund (IMF). In exchange for $ 1.5 billion, the Congolese government promised to implement reforms, but also to be transparent, especially in the mining sector. Minister of Finance Nicolas Kazadi, who handled most of the negotiations with the IMF, is RFI's guest.…

In the Democratic Republic of Congo, the Minister of Finance and the resident representative of the International Monetary Fund will be seen on Monday 19 July. The opportunity for Gabriel Leost to officially inform Nicolas Kazadi about the decision of the IMF Board to validate a jointly established program. With our special…

Will the Democratic Republic of Congo succeed in securing the $ 1.5 billion International Monetary Fund funding program for which a preliminary agreement was signed in May last year? The stakes are high, as this program could pave the way for other funding. But the signing comes with conditions, and when the IMF board meeting wakes up, the details are still stuck.…