Wednesday, August 21, 2019
No menu items!
Advertisement
  • Africa

IMF calls on African countries to implement reform programs

Featured

Renewable energy can bring billions of dollars in Midwest and Great Lakes region

Applying current renewable energy standards, ten states in the Midwest and the Great Lakes region of the United States...

China complains on Twitter and Facebook closures

China is facing Twitter and Facebook accounts blocking after criticism on protests in Hong Kong. Chinese citizens and students...

EU will not re-negotiate Brexit with Britain

Finland's Prime Minister Antti Rinne has told Boris Johnson that the European Union EU will not re-negotiate the Brexit...
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in business reporting. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

The International Monetary Fund (IMF) said that African countries, in response to falling commodity prices, must work hard to rebalance investments and debt.

They should accelerate the process of tax collection. Africa’s rapid growth decade.

The sub-Saharan African region is expected to grow by 3.5 percent from 3.8 percent last year, the International Monetary Fund (IMF) said in a report.

“We believe that over the past two years, given the magnitude of the economic shock, it would have been more appropriate to use the state budget to try to mitigate the effects of the severe economic blow to the decline in commodity prices,” said Abebe Selassie, Africa director at the International Monetary Fund.

“Nigeria, Angola and South Africa, which are driving the growth engine in sub-Saharan Africa, have experienced problems in their growth rates.”

He said Nigeria, Africa’s largest economy, would have to raise tax revenues to reduce its domestic debt and spend on infrastructure development.

Selassie also referred to Chad and the Democratic Republic of the Congo (DRC) as countries with problems with their debt sustainability.

Read also: The African Union is working with China to deliver electricity to 600 million Africans

Latest News

Disney to unveil video streaming service on Apple and Google platforms in November

Walt Disney will launch the Disney plus video streaming service in Canada and the Netherlands on November 12, while...

Johnson: India and Pakistan should settle Kashmir issue through dialogue

British Prime Minister Boris Johnson said in a telephone conversation Tuesday with his Indian counterpart Narendra Modi that India and Pakistan should settle the...

British PM criticized with letter to EU backstop regulation

The British Prime Minister Boris Johnson, in a letter to EU Council President Donald Tusk, he has again attempted to abolish the backstop regulation...

Trump calls on Apple to leave China

US President Donald Trump on Tuesday urged Apple to leave China. Trump said during a meeting with Romanian President Klaus Johannis that if he had...

Renewable energy can bring billions of dollars in Midwest and Great Lakes region

Applying current renewable energy standards, ten states in the Midwest and the Great Lakes region of the United States can achieve $ 4.7 billion...

Related News