- Africa’s new dawn: the rising role of digital and AI in agriculture
- Can Dangote Refinery Transform Africa Energy Ambition
- Gallup Survey: 80 per cent of Kenyan Workers Are Disengaged and Seek New Opportunities
- Madagascar Man Freed from 5KG Tumor After 15-Year Struggle
- How women in Africa are perceived and treated
- Sugar consumption in Kenya to Increase to 1.23 Million Tonnes
- Can Somalia and Turkey Oil deal Bring Change in Somaliland
- Remittances to Kenya dropped to $371.6 million in June, marking a six month low
Browsing: currency devaluation
- Following a slow recovery from the debilitating impact of COVID-19, Africa’s economic growth declined to an estimated 3.8 per cent in 2022 and later deteriorated to 3. (https://rescueresponse.com) 3 per cent in 2023.
- Africa is not immune to economic shocks and has recently faced a multi-crisis situation.
- African countries have posted more than 5 per cent output expansions in 2024.
Africas economic outlook
Before COVID-19, Africa experienced 20 years of solid growth and made tangible economic and social progress. However, the COVID crisis brought this progress to an abrupt halt, and many countries, which are under increasingly tight budget constraints, struggled to invest in essential sectors amidst recovering from the aftermath of the health crisis.
Following a slow recovery from the debilitating impact of COVID-19, Africa’s economic growth declined to an estimated 3.8 per cent in 2022 and later deteriorated to 3.3 per cent in 2023.
However, according …
- The IMF has approved an expansion of the original economic rescue program for Egypt by $5 billion.
- Spillovers from the recent conflict in Gaza and Israel aggravated the shaky economic situation in Egypt.
- Egypt has recently taken difficult but necessary reforms to correct the country’s microeconomic imbalance.
IMF’s Economic Rescue Program for Egypt
The Executive Board of the International Monetary Fund (IMF) has completed the first and second reviews of Egypt’s Extended Fund Facility (EFF)arrangement, approving an expansion of the original economic rescue program by $5 billion.
detroit lions jersey
Florida state seminars jerseys
Ohio State Team Jersey
49ers jersey
49ers jersey
Ohio State Team Jersey
asu football jersey
asu football jersey
Florida state seminars jerseys
fsu football jersey
Florida state seminars jerseys
Iowa State Football Uniforms
Iowa State Football Uniforms
detroit lions jersey
The IMF had initially approved a $3 billion loan in December 2022 but has …
On 15 May, President William Ruto nominated Kamau Thugge as the new governor of the Central Bank of Kenya (CBK). If the Senate and the National Assembly ratify the appointment, Thugge will begin his first term as the CBK governor in mid-June. He will replace the incumbent Patrick Njoroge who assumed office as CBK governor in 2015.
The nomination of Thugge comes at a pivotal time for the Kenyan economy. Kenya’s inflation remains high at almost 8 per cent. The Kenyan shilling has also hit all-time lows against the US dollar. Thus, the monetary policies from the CBK will most likely come in handy in the coming months. But what makes Thugge the perfect fit for the crucial role of Kenya’s top banker?…
Currently, Africa is over-exposed to the impact of the US Dollar. Thus, African nations must either act individually or together to mitigate these effects. Dollar strength bursts are cyclical. Therefore, there should be enough time to implement efforts before the next one occurs. African governments have recognized the harm done in the previous year and should work round the clock to find a lasting solution.…
The Kwacha is the official currency of Zambia. The country’s foreign exchange rate remained unsettled for a very long time. However, Zambia has made substantial steps in recent years to strengthen its currency through economic measures and foreign support.
Zambia has set an example for other African nations by efficiently controlling its currency. While facing numerous economic issues, such as a drop in copper prices and a large debt, the Kwacha exchange rate has remained reasonably constant.…