Justice Nwafor

Africa

Freelance journo. FT: @BBC_Future | @SciDevNet| @Africaarguments | @Reuters etc. Winner @SanlamAwards 22/23. Finalist @truestoryaward 2024. Tweets, RT = NOTHING

Articles

IMF disburses $758 million to Côte d’Ivoire following strong programme performance

2 days ago | allendreyfus.com | Justice Nwafor

Economy seen as “anchor of stability” with growth projected at 6.3% in 2025Disbursement signals confidence in reforms, macro fundamentals, and outlookAbidjan, Côte d’Ivoire – The International Monetary Fund has approved a fresh disbursement of $758 million to Côte d’Ivoire after the successful completion of reviews under its Extended Fund Facility, Extended Credit Facility, and Resilience and Sustainability Facility programmes, the Fund said early Thursday.
Morocco holds interest rate at 2.25% amid easing inflation

4 days ago | allendreyfus.com | Justice Nwafor

• Inflation drops sharply to 0.4% in May, supporting rate holdRabat, Morocco – Morocco’s central bank has kept its benchmark interest rate unchanged at 2.25%, citing subdued inflation, strong non-agricultural activity, and stable expectations as grounds for maintaining its policy stance. You need an active subscription to continue reading this article.
IMF unlocks $32.8m for Burkina Faso as insecurity rattles mining sector

5 days ago | allendreyfus.com | Justice Nwafor

GDP growth hit 5.0% in 2024, but outlook dims amid security and investment risksGold output disrupted by terrorism, rising costs, and mining sector exitsOuagadougou, Burkina Faso – The International Monetary Fund has completed the third review of Burkina Faso’s Extended Credit Facility programme, unlocking $32.8 million in fresh funding despite a worsening security landscape and falling investment in the gold sector.
IMF approves $90 Million disbursement to Benin

1 week ago | allendreyfus.com | Justice Nwafor

Total support under IMF arrangements now stands at $623 millionGrowth reached 7.5% in 2024, highest in several yearsThe International Monetary Fund has approved a fresh disbursement of around $90 million to Benin, citing strong progress on economic and climate reform targets. The funds come under the Extended Fund Facility, Extended Credit Facility, and Resilience and Sustainability Facility, following comprehensive programme reviews concluded this week.
IMF warns of rising risks to Namibia’s fragile recovery

1 week ago | allendreyfus.com | Justice Nwafor

Growth slows to 3.7% in 2024 as drought and commodity shocks biteFund urges tighter fiscal controls and better resource governanceNamibia’s economy is losing steam as climate shocks, commodity volatility, and deep structural weaknesses weigh on its fragile recovery, the International Monetary Fund has warned. Following its latest consultation with the country, the Fund said economic momentum had weakened considerably, and that rising internal and external risks could derail near-term growth.
Tanzania inflation steady at 3.2% as core pressures ease

2 weeks ago | allendreyfus.com | Justice Nwafor

Food prices edge higher, but non-food and core inflation continue to softenAnalysts warn of dual risk from food and energy shocks in net-importing economyTanzania’s headline inflation held steady at 3.2% in May, underscoring continued price stability and reducing immediate pressure on the Bank of Tanzania to tighten monetary policy. The latest reading remains well below the central bank’s 5% medium-term ceiling, according to data released on Monday by the National Bureau of Statistics.
World Bank cuts Cameroon’s 2025 growth forecast to 3.7% amid fiscal and external pressures

2 weeks ago | allendreyfus.com | Justice Nwafor

Outlook lowered due to weak investment, delayed projects and subdued global demandStructural weaknesses, rising debt and political uncertainty cloud recovery prospectsYaoundé, Cameroon – The World Bank has revised down Cameroon’s 2025 economic growth forecast to 3.7%, trimming 0.3 percentage points off its January estimate, as a combination of external headwinds and domestic structural constraints weigh on the country’s medium-term outlook.
Cameroon Banks on Mining to Offset Oil Decline and Drive New Growth

2 weeks ago | allendreyfus.com | Justice Nwafor

Gold, iron ore and bauxite projects signal shift toward resource diversificationInfrastructure gaps and regulatory frictions pose risk to medium-term executionCameroon is stepping up efforts to turn its nascent mining sector into a central pillar of economic growth, aiming to reduce dependence on fluctuating oil revenues.
Zambia keeps policy rate steady after signs of inflation cooling

2 weeks ago | allendreyfus.com | Justice Nwafor

Central bank signals disinflation could open door to easing later this yearCopper-driven growth and debt restructuring progress lift investor sentimentThe Bank of Zambia has held its benchmark interest rate steady at 14.50% for the second quarter, pausing a tightening cycle that included back-to-back 50-basis-point hikes in November and February. The central bank cited reduced inflation, which it projects will continue to decline in the near term.
IMF warns of rising debt pressure in Rwanda

2 weeks ago | allendreyfus.com | Justice Nwafor

Public debt projected to peak at 86.3% of GDP in 2025/26State-led investments and aid cuts threaten fiscal sustainabilityKigali, Rwanda – The International Monetary Fund has raised red flags over Rwanda’s fiscal trajectory, warning that ballooning public debt and large-scale state investments are threatening the country’s macroeconomic stability.