Finance & Economics

IMF Executive Board Completes First Review Under the Extended Credit Facility and Approves US$24.3Million Disbursement for Guinea

On June 25, 2018, the Executive Board of the International Monetary Fund (IMF) completed the first review of Guinea’s economic performance under the program supported by an Extended Credit Facility (ECF). Completion of this review enables the...

Providing finance to Egyptian SMEs: EIB and Bank of Alexandria sign a EUR 20 million loan in support of local private sector

The European Investment Bank (EIB) and Bank of Alexandria (ALEXBANK) signed a financing agreement for EUR 20 million to support small and medium-sized enterprises (SMEs) and midcaps in Egypt. The operation comes under the EIB’s Economic Resilience...

IMF Staff Completes Review Mission to Gabon

An International Monetary Fund (IMF) mission led by Alex Segura-Ubiergo visited Libreville during June 13-25 to conduct discussions for the second review of Gabon’s extended arrangement under the Extended Fund Facility (EFF). The EFF-supported program...

Trump Threatens New Tariffs on Trading Partners

President Donald Trump has issued a warning to U.S. trading partners that unless they remove restrictions placed on American goods, they will face "more than Reciprocity by the U.S.A."

World Bank to Support Poverty Reduction Efforts in Guangxi

The World Bank’s Board of Executive Directors, on June 22, approved a US$400 million loan to help enhance the impact and efficiency of the consolidated poverty reduction program of China’s Guangxi Zhuang Autonomous Region. This is the first Program-...

IMF Executive Board Completes First Review Under the Policy Coordination Instrument for Seychelles

On June 21, 2018, the Executive Board of the International Monetary Fund (IMF) completed the first review under the Policy Coordination Instrument (PCI) for Seychelles. The Executive Board’s decision was taken without a meeting.

Turkey Joins Nations Placing New Tariffs on US Products

Turkey announced Thursday that it would impose tariffs on $1.8 billion worth of U.S. goods in retaliation for U.S. President Donald Trump's tariffs on steel and aluminum imports.

World Bank Group Increases Support for Regional Integration in Sub-Saharan Africa

Titled “Supporting Africa’s Transformation: Regional Integration & Cooperation Assistance Strategy”, the strategy will promote economic diversification and strengthening of regional value chains, build sub-regional energy and digital markets, help...

Denmark IMF Executive Board Concludes 2018 Article IV Consultation

On June 20, 2018 the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Denmark, and considered and endorsed the staff appraisal without meeting.

Germany’s strong anti-bribery enforcement against individuals needs to be matched by comparably strong enforcement against companies

Germany continues to demonstrate a high level of anti-bribery enforcement having prosecuted and sanctioned 328 individuals and 18 companies in foreign bribery cases since 1999. Germany is commended for its focus on holding culpable individuals liable...