IMF

If the global economy recovers, the rise to pre-crisis activity levels is likely to be long, erratic and uncertain, the International Monetary Fund said in its economic forecast released at its autumn meetings. . Return to activity will be particularly difficult for certain new and developing countries, where infections are growing rapidly. But also for the African countries that relied on their oil exports or tourism to come back. Sub-Saharan Africa could experience its first recession in 25 years. After 3.2% growth…

The International Monetary Fund held a virtual meeting on Friday, October 9, on the impact of coronavirus in Africa in the presence of its CEO Kristalina Georgieva. According to the latter, economic support released in recent months is significant, but it remains insufficient to help the continent emerge from the crisis. According to the IMF chief executive, the institution has already released nearly $ 26 billion this year. This is ten times more than what the IMF releases on average each year for loans. But the needs…

The IMF is still at the bedside of the poorest in this time of global crisis. The fund on Monday approved new emergency aid for 28 countries, 22 of which are in Africa. The money received will allow them to either alleviate their debt or help fund the fight against the effects of the pandemic, the IMF says. Last April, The IMF relieved the debt in 25 countries among the poorest by activating an emergency mechanism, the Trust Fund for Assistance and Response to Natural Disasters. A fast and efficient tool, a giant purse of…