The World Bank Group today unveiled a record $100 billion financing package for the 21st replenishment cycle of the International Development Association (IDA21), the largest in the fund’s history.
BY YANET FANTAYE WOGAYEHU – The economy of South Sudan is being challenged by the damages to the pipeline that carries 70 percent of it’s oil production through Sudan, and by the…
Africa should urgently invest in robust data and statistical systems to accelerate sustainable development, the Director of the Africa Centre for Statistics at the Economic Commission for Africa, (ECA), Oliver Chinganya has…
The Board of Directors of the African Development Bank Group this week approved a loan of $67.3 million to Madagascar to implement the first phase of its economic growth-inducing Financial Management and…
An International Monetary Fund (IMF) and the Government of Sierra Leone reached a new 38-month Extended Credit Facility (ECF) arrangement, with requested access of SDR 187 million (about US$253 million).
Ethiopia’s Economic Journey: Reflecting on the Past, Navigating the Future BY ERMYAS T. AMELGA – Ethiopia stands at a significant crossroads in its economic development. As the country continues to pursue a…
BY ANWAR HUSSEN MOHAMMED – On the 16th of August 2024, United Nations (UN) Member States adopted, by an overwhelming majority, the Ad Hoc Committee’s Draft Terms of Reference for a United…
The UN Economic Commission for Africa (ECA) Office for North Africa concluded a five-day fact-finding & advisory services mission to Egypt this week, as part of its program on “Enhancing fiscal resilience…
BY YANET FANTAYE WOGAYEHU – The International Monetary Fund (IMF) approved a four-year arrangement under the Extended Credit Facility (ECF) for Ethiopia in an amount equivalent to SDR 2.556 billion (850 percent…
The United Nations Development Program (UNDP), the United Nations Economic Commission for Africa (ECA), and the African Development Bank (AfDB), presented today the 2024 Africa Sustainable Development Report (ASDR).
By Anwar Hussen Mohammed – Ethiopia’s economic boom of the past decade has hit a snag – a foreign exchange (forex) shortage. This lack of readily available foreign currency hinders businesses, slows…
The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a grant funding of $8.6 million to South Sudan to advance the second phase of the Non-Oil Revenue Mobilization…
African economies remain resilient, despite challenges that are testing economies worldwide with of the economies set to experience stronger growth, according to the latest African Development Bank Group’s African Economic Outlook.
The latest Chief Economists Outlook released today presents a growing sense of cautious optimism about the global economy in 2024.