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<p>The International Monetary Fund (IMF) and the World Bank&#8217;s International Development Association have determined that Somalia has taken the necessary steps to begin receiving debt relief under the enhanced Heavily Indebted Poor Countries Initiative. Prime Minister of Somalia, Hassan Ali Khaire joins CNBC Africa for more.</p>


Somalia to receive financial aid under World Bank’s HIPC initiative

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According to a report by the International Monetary Fund it will take the more than 95 years to bridge the financial economic gap between men and women at the current pace, but could we get there faster? CNBC Africa&#8217;s Arnold Kwizera talked to UN Women representative in Rwanda, Fatou Lo for more.</p>


Fatou Lo on how to bridge the gender pay gap

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Latest data from the National Bureau of Statistics shows that Nigeria&#8217;s economy grew by 2.27 per cent in 2019, beating the IMF&#8217;s projections with the 4th quarter of the year recording the highest quarterly growth since 2016 recession. So how has this growth trickled down to the man on the street?</p>


Nigerians react to the 2019 economic growth figures

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According to the International Monetary Fund, emerging market economies saw subdued levels of growth in 2019 despite policies and strategies for growth stimulation, this was the case in India, Mexico and South Africa. Danesh Ranchhod, Executive Director at Franklin Templeton Emerging Market Equitys joins CNBC Africa for more.</p>


Why this analyst is not changing his outlook for emerging markets despite COVID-19

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CNBC Africa is joined by the International Monetary Fund Chief Economist, Gita Gopinath on her global economic outlook and the trends that she sees weaving into Sub- Saharan African markets.</p>


IMF Chief Economist on Africa’s economic outlook


<p><em>By South Africa&#8217;s Treasury </em></p>



<p>The International Monetary Fund (IMF)  published the outcome of its Article IV Consultation with South Africa, which was held from 6 – 21 November 2019. Part of the surveillance function, as prescribed in the IMF’s Articles of Agreement, requires that the IMF visits each member country twice a year to conduct economic and financial assessments of government policies and provide policy recommendations. The IMF staff held meetings with the South African government, the South African Reserve Bank, stateowned enterprises (SOEs), business, organised labour, and academia. The outcome of their consultation is summarised in an Article IV Report, which was also considered by the IMF Executive Board.  </p>



<p>IMF Findings </p>



<p>The IMF states that South Africa has undeniable economic potential, which remains largely untapped. However, it notes that downside risks to the economy going forward, include: (i) weak economic growth, (ii) deteriorating fiscal and debt positions and (iii) difficulties in the operations of state owned enterprises (SOEs). </p>



<p>The IMF’s baseline scenario assumes that partial reform implementation and continued governance improvement will lift business confidence and gradually allow a limited recovery of investment and consumption. It forecasts South Africa’s growth to gradually increase from 0.4 percent in 2019 to 0.8 percent in 2020 and to 1.0 percent in 2021. However, it warns that per-capita growth will continue to contract in the near term.  </p>



<p>The IMF recommends that South Africa creates a conducive environment for private sector investment and takes a decisive approach to implement structural reforms in order to boost economic growth. These include reducing the cost of doing business, streamlining operations of SOEs, releasing the spectrum, improving governance, promoting competition in product markets and addressing labour market issues. </p>



<p>Government’s response </p>



<p>National Treasury acknowledges the difficult juncture South Africa is at. It projects subdued short-term growth, but expects a stronger recovery in confidence moving forward that would result in GDP growth of 1.7 percent by 2022. Average inflation expectations for 2019 have fallen from 6 percent to 4.5 percent. Most recently, in January 2020, the South African Reserve Bank cut its repurchase rate by 25 basis points, taking into consideration inflation expectations. </p>



<p>Enquiries: Communications Unit Email: media@treasury.gov.za  Tel: (012) 315 5046  </p>



<p>The economic outlook is subject to risks, both domestic and external. Domestically, failure to address governance and operational issues, specifically at State Owned Enterprises (SOEs), would continue to weigh negatively on the outlook. National Treasury is mindful of the fiscal risks that SOEs, particularly electricity utility Eskom, present to the fiscal framework. Furthermore, there is commitment to resolve the challenges facing South African Airways (SAA). The airline has been placed under voluntary business rescue to improve its financial position. Externally, the performance of the global economy has an impact on South Africa, as an open, small economy. </p>



<p>Government has progressed in implementing many of the reforms to revive the economy, however, more urgency is required in the speed of implementation.  </p>



<p>Finally, National Treasury remains committed to implementing prudent fiscal policy to achieve a low primary balance, excluding Eskom provisions, by 2022/23 in order to ensure a stabilisation of debt by 2025/26. Government continues to work towards moving South Africa forward and realising strong, sustainable, balanced and inclusive growth that will improve the lives of all South Africans. </p>


IMF assesses SA’s economy. These were its findings…

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<p>In a recent report the International Monetary Fund (IMF) warned Kenya of a potential implosion in the country&#8217;s pension sector as the gap between retirement dues and savings widens. In 2009 the country rose the retirement age for civil servants from 55 to 60, temporarily staving off the fall out but now with tax collection at 15.6 of Gross Domestic Product (GDP) and pension obligations at 30 per cent, action may have to be taken. Journalist, Joseph Bonyo joins CNBC Africa for more.</p>


How Kenya plans to reform unsustainable pension schemes

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<p>Rwanda saw double digit growth in quarters two and three of last year, prompting the International Monetary Fund (IMF) to revise their growth projections to over 8 per cent for 2019, but what will be the main drivers of Rwanda&#8217;s economy in 2020? CNBC Africa&#8217;s Arnold Kwizera talked to economic Analyst, Ted Kaberuka for more.</p>


Here’s how Rwanda plans to position itself to attract investment

Here’s how Rwanda plans to position itself to attract investment, drive economic growth in 2020

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<p>The International Monetary Fund (IMF) says its outlook for Ghana remains favourable and expects the country’s growth to average around 5 per cent over the next few years supported by new potential oil discoveries and mining. The fund disclosed this following the conclusion of its Article IV Consultation with Ghana. As Ghana heads into an election year in 2020, John Ashbourne, Senior Emerging Markets Economist at Capital Economics joins CNBC Africa for an outlook on Ghana’s economy.</p>


IMF: How new oil discoveries and mining will impact Ghana’s economic outlook

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<p>International Monetary Fund and Ethiopian government have reached an opening agreement for a three-year, $2.9 billion financing package to support the African country’s economic reform program. The program would focus on addressing foreign exchange shortage and transitioning to a more flexible exchange rate regime, while working to strengthen oversight and management of state-owned enterprises to contain debt vulnerabilities. Zemedeneh Negatu, Global Chairman at Fairfax Africa Fund (US) joins CNBC Africa for more.</p>


IMF seals $2.9bn financing package with Ethiopia: Here’s why this is a big game changer for the country’s economy


<p>WASHINGTON (Reuters) &#8211; The staff of the International Monetary Fund and the Ethiopian government have reached a preliminary agreement for a three-year, $2.9 billion financing package to support the African country’s economic reform program, the IMF said on Wednesday.</p>



<p>It said the agreement was subject to approval by the Fund’s executive board. If approved, it would be supported by the IMF under its Extended Credit Facility (ECF) and Extended Fund Facility (EFF).</p>



<p>The Ethiopian economic reform program would focus on addressing the foreign exchange shortage and transitioning to a more flexible exchange rate regime, while working to strengthen oversight and management of state-owned enterprises to contain debt vulnerabilities in Africa’s second most populous nation.</p>



<p>It would also work to free up domestic revenue for poverty-reducing and essential infrastructure spending; financial sector reforms to support private investment and modernize the monetary policy framework; and strengthening of the supervisory framework and financial safety nets, the IMF said.</p>



<p>Ethiopian Prime Minister Abiy Ahmed pledged to undertake economic reforms when he took office last year, with a focus on leveraging private sector investment to help provide jobs for millions of unemployed youth in the nation’s 100 million people.</p>



<p>Ethiopia’s foreign exchange shortages have worsened in the past five years as the government spent heavily on infrastructure before export earnings from new sectors such as manufacturing took off.</p>



<p>Reporting by David Lawder and Andrea Shalal; Editing by Chizu Nomiyama and Lisa Shumaker</p>


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IMF and this East African country reach preliminary agreement on $2.9 billion financing package

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<p>On the side-lines of the IMF&#8217;s International Conference in Senegal which focused on sustainable development and debt sustainability – CNBC Africa&#8217;s Frederic VandeVyver caught up President and CEO of NSIA, Jean Kacou Diagou for an assessment insurance business in Africa.</p>


Sustainable Development

Sustainable Development, Sustainable Debt: NSIA CEO Kacou Diagou on company’s expansion plans into Central Africa

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<p>Senegal’s Minister for Economy, Planning and International Corporation, Amadou Hott, says when African countries borrow, they have to make sure the debt is mostly used for acquiring assets that generate both social and economic returns. CNBC Africa&#8217;s Kenneth Igbomor caught up with him on the sidelines of IMF&#8217;s International Conference in Senegal which focused on sustainable development and debt sustainability.</p>


Sustainable Development, Sustainable Debt: Debt must acquire assets that generate social & economic returns – Amadou Hott

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<p>Deputy Secretary-General of United Nations (UN), Amina Mohammed says the context, quality and the use of debt matters. She discussed Africa&#8217;s progress on Sustainable Development Goals (SDGs) with CNBC Africa&#8217;s Kenneth Igbomor on the sidelines of IMF&#8217;s International Conference in Senegal which focused on sustainable development and debt sustainability.</p>


Sustainable Development, Sustainable Debt: The context, quality and the use of debt matters, says UN’s Amina Mohammed

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<p>CNBC Africa&#8217;s Kenneth Igbomor caught up with IMF&#8217;s Deputy Director for Africa Department, Dominique Desruelle to get the IMF&#8217;s thinking on debt sustainability and Africa&#8217;s development challenges on the sidelines of IMF&#8217;s International Conference in Dakar Senegal.</p>


Sustainable Development, Sustainable Debt: Understanding debt sustainability & Africa’s development challenges

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<p>President of Global Development Network (GDN) and Member of Circle of Economists, Pierre Jacquet says sustainable development and debt sustainability should be constantly in the minds of African policymakers and sustainability is about the quality of investments that are financed through debt. CNBC Africa&#8217;s Kenneth Igbomor caught up with Pierre Jacquet for more.</p>


Sustainable Development, Sustainable Debt: Sustainability is about quality of investments financed through debt – Jacquet

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<p>IMF&#8217;s new Managing Director, Kristalina Georgieva says Africa is halfway to achieving the Sustainable Development Goals (SDGs) and needs to accelerate the speed of development to get there. CNBC Africa&#8217;s Kenneth Igbomor spoke with her on the sidelines of the International Conference on Sustainable Development and Debt Sustainability in Dakar, Senegal for more.</p>


IMF

Somalia to receive financial aid under World Bank’s HIPC initiative

Fatou Lo on how to bridge the gender pay gap

Nigerians react to the 2019 economic growth figures

Why this analyst is not changing his outlook for emerging markets despite COVID-19

IMF Chief Economist on Africa’s economic outlook

IMF assesses SA’s economy. These were its findings…

How Kenya plans to reform unsustainable pension schemes

Here’s how Rwanda plans to position itself to attract investment, drive economic growth in 2020

IMF: How new oil discoveries and mining will impact Ghana’s economic outlook

IMF seals $2.9bn financing package with Ethiopia: Here’s why this is a big game changer for the country’s economy

IMF and this East African country reach preliminary agreement on $2.9 billion financing package

Sustainable Development, Sustainable Debt: NSIA CEO Kacou Diagou on company’s expansion plans into Central Africa

Sustainable Development, Sustainable Debt: Debt must acquire assets that generate social & economic returns – Amadou Hott

Sustainable Development, Sustainable Debt: The context, quality and the use of debt matters, says UN’s Amina Mohammed

Sustainable Development, Sustainable Debt: Understanding debt sustainability & Africa’s development challenges

Sustainable Development, Sustainable Debt: Sustainability is about quality of investments financed through debt – Jacquet

Sustainable Development, Sustainable Debt: IMF’s Georgieva on achieving SDGs to accelerate development

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IMF

Somalia to receive financial aid under World Bank’s HIPC initiative

Fatou Lo on how to bridge the gender pay gap

Nigerians react to the 2019 economic growth figures

Why this analyst is not changing his outlook for emerging markets despite COVID-19

IMF Chief Economist on Africa’s economic outlook

IMF assesses SA’s economy. These were its findings…

How Kenya plans to reform unsustainable pension schemes

Here’s how Rwanda plans to position itself to attract investment, drive economic growth in 2020

IMF: How new oil discoveries and mining will impact Ghana’s economic outlook

IMF seals $2.9bn financing package with Ethiopia: Here’s why this is a big game changer for the country’s economy

IMF and this East African country reach preliminary agreement on $2.9 billion financing package

Sustainable Development, Sustainable Debt: NSIA CEO Kacou Diagou on company’s expansion plans into Central Africa

Sustainable Development, Sustainable Debt: Debt must acquire assets that generate social & economic returns – Amadou Hott

Sustainable Development, Sustainable Debt: The context, quality and the use of debt matters, says UN’s Amina Mohammed

Sustainable Development, Sustainable Debt: Understanding debt sustainability & Africa’s development challenges

Sustainable Development, Sustainable Debt: Sustainability is about quality of investments financed through debt – Jacquet

Sustainable Development, Sustainable Debt: IMF’s Georgieva on achieving SDGs to accelerate development

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