Browsing: Washington DC

The battle for political and economic influence between the U.S. and China is playing out across Africa, and Beijing’s growing presence is troubling Western policymakers, experts say.

Africa has become the fastest urbanizing region on the planet, and China has placed itself at the infrastructural vanguard of the new frontier. Africa boasted seven of the 20 fastest growing economies in the world in 2017, according to the IMF (International Monetary Fund).

China is building and developing a naval army base in the west side of Djibouti City adored with razor wire-topped walls with in-built helipads, a dock large enough to fit aircraft carriers, and 2,000 troops alongside armored vehicles and gunboats.

This Naval military base was Opened in 2017, and it’s China’s first overseas military base but could soon be one of many located across Africa if those sounding the alarm in Washington are correct.

The Department of Defense in …

The International Monetary Fund’s (IMF) report on Tanzania’s economic status was one-sided.

Finance and Planning Minister, Dr Phillip Mpango opened up on April 23, 2019 detailing why the government did not give IMF the green light to publish the content.

Responding after the matter was raised in the National Assembly, Dr Mpango said that the go-ahead was not given because opinions given by government experts after reading the first draft were not included in the final report.

“The IMF team was in the country from November 26 to December 7 last year. After preparing the draft I received on March 18 and we gave opinions that should have been accommodated in the final report but that did not happen,” the minister said.

Dr Mpango noted that during his recent visit to Washington DC for the 2019 spring meetings organized by the World Bank and IMF, he held talks on the …

Afrexim Bank is providing a USD 500 million financing facility to fund power transmission, infrastructure and agricultural projects. …