APO - Africa Newsroom

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

ICD and JSCB “Microkreditbank” Cooperate to Finance SMEs in Uzbekistan

The collaboration will focus on developing private sector especially SMEs, supporting economy, strengthening the balance sheet of the Bank, improving the living standard of the population by creating jobs, generating tax revenues for the government and promoting Islamic Banking in the country

The Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-PS.org), the private sector arm of IDB Group, and JSCB “Microkreditbank”, Uzbekistan have entered into a Joint Strategic Collaboration to finance SMEs in Uzbekistan. The CEO of ICD, Mr. Khaled Al-Aboodi, and the Acting Chairman of the Management Board…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes Visit to the Republic of Equatorial Guinea

Discussions on macroeconomic policies and structural reforms have been productive, with good progress made on the policies and reforms that the country needs to undertake

The country needs to reduce macroeconomic imbalances to more sustainable levels and restore economic growth in order to preserve macroeconomic stability. Discussions on macroeconomic policies and structural reforms have been productive, with good progress made on the policies and reforms that the country needs to undertake. To preserve macroeconomic stability…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes Ninth Review under Malawi’s ECF Arrangement and Approves US$ 26.9 Million Disbursement

eal GDP Growth is expected to pick up in 2017 due to better prospects for agricultural output

The program is aimed at macroeconomic stability, growth, economic diversity and reduced poverty. Real GDP Growth is expected to pick up in 2017 due to better prospects for agricultural output. The macroeconomic outlook remains challenging, reflecting uncertainties related to adverse weather conditions and policy slippages. The Executive Board of the…

Source: The World Bank Group |

World Bank Young Professionals Program is open for applications from June 14 - July 28, 2017

Invitation to join us for WB YPP Facebook Live Event on June 22, 2017

We are glad to announce that the World Bank (www.WorldBank.org) Young Professionals Program is open for applications from June 14 – July 28, 2017.  WB Young Professionals Program opened for application on June 14th The Young Professionals Program (http://APO.af/Wf33mt) is a premier global recruitment program and is a unique opportunity…

Source: International Monetary Fund (IMF) |

IMF Executive Board Concludes 2017 Article IV Consultation with Seychelles

Economic growth reached 4½ percent, reflecting increased tourist arrivals, stronger output in the fishing industry, and expanding credit to the private sector

On June 2, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Seychelles.   Macroeconomic performance continued to be strong in 2016. Economic growth reached 4½ percent, reflecting increased tourist arrivals, stronger output in the fishing industry, and expanding credit to the private sector.…

Source: International Monetary Fund (IMF) |

IMF Executive Board Approves US$642 Million Extended Arrangement Under the Extended Fund Facility (EFF) for Gabon

On June 19, 2017, the International Monetary Fund (IMF) approved a three-year extended arrangement under the Extended Fund Facility (EFF) for Gabon for SDR 464.4 million (about US$642 million), or 215 percent of Gabon’s quota, in support of the authorities’ medium-term recovery program.  Today’s Executive Board’s decision enables an immediate…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes First Reviews Under the ECF and Extended Arrangements for Côte d’Ivoire and Approves US$133.8 Million Disbursement

Côte d’Ivoire’s performance under its Fund-supported program has been satisfactory

The country’s economic outlook remains strong, with growth projected at about 7 percent in 2017–19. Completion of the review enables the disbursement of $134 million. The ECF/EFF-supported programs aim at supporting the authorities’ efforts to achieve a sustainable balance of payments, inclusive growth, and poverty reduction. On June 19, 2017, the…

Source: The MasterCard Foundation |

The MasterCard Foundation Fund for Rural Prosperity Launches New Funding Opportunity for Financial Services Providers to Improve the Lives of Poor People in Rural Africa

Nearly US$ 3 million also committed to winners of the Fund’s Innovation Competition 2016

The MasterCard Foundation (www.MasterCardFdn.org) Fund for Rural Prosperity (FRP) (www.FRP.org) today launched a new competition to find and support providers of innovative and scalable financial products and services that improve the lives of poor people in rural areas of Africa.  The 2017 competition will follow a ‘rolling’ format. It will…

Source: International Monetary Fund (IMF) |

IMF Staff Completes 2017 Article IV Visit to Swaziland

Swaziland’s key challenge going forward is to preserve macroeconomic stability against low SACU revenue and sustain growth to make inroads in reducing high unemployment and income inequality

The IMF estimates 2016 growth to stagnate, with a muted recovery envisaged in 2017, as the weaker fiscal position weighs heavily on the outlook. Significant fiscal adjustment is needed to ensure macroeconomic stability and debt sustainability. Structural reforms to address the lack of skilled workers, simplify business regulations, and strengthen…

Source: International Monetary Fund (IMF) |

IMF Staff Concludes Visit to Benin

The authorities are implementing a package of measures to maintain macroeconomic and financial stability and raise living standards

The economy grew by 4 percent in real terms in 2016, overcoming the low-growth environment that resulted from negative spillovers from Nigeria. The authorities are implementing a package of measures to maintain macroeconomic and financial stability and raise living standards. IMF staff and the authorities agreed that the early progress…