Home Topics International Monetary Fund
International Monetary Fund
South Africa’s confirmed cases of the coronavirus increased by 93 to 1,280 people on Sunday and the death toll doubled to two, the Health Ministry said, as the country entered the third day of a national lockdown and officials announced new measures to deal with the economic fallout.
South Africa’s National Treasury said on Sunday it was introducing a new tax subsidy of 500 rand ($28) per month for each worker to employers for the next four months to cushion financial losses suffered by firms due to the coronavirus.
South Africa may approach the International Monetary Fund and World Bank for funding to fight the coronavirus that threatens to drag the country’s economy deeper into recession, Finance Minister Tito Mboweni said in the Sunday Times newspaper.
The heads of the World Bank and International Monetary Fund on Friday underscored the need to provide debt relief to poorer countries hit by the coronavirus pandemic, and said official bilateral creditors would have to play a major role.
As the COVID-19 pandemic stretches into its second month and shows no signs of slowing, President Donald Trump has pushed to relax the restrictions on travel and movement that are, right now, the best hope for controlling the disease.
Uganda will request the World Bank for a loan of $190 million to help cushion its economy from the impact of the coronavirus pandemic, its finance minister said.
The International Monetary Fund, IMF, has called for broader monetary stimulus as part of fiscal and monetary measures to combat the economic impact of the Coronavirus (COVID-19).
Sudan's economy has sunk into a deep crisis since the overthrow of longtime autocrat Omar al-Bashir almost a year ago, risking collapse and social unrest in a country in transition.
The World Health Organisation (WHO) have warned that some countries have not taken the COVID-19 epidemic seriously, saying their level of political commitment and actions is not commensurate to the level of the threat faced globally.
Oil ministers from the Organisation of Petroleum Exporting Countries (OPEC) on Wednesday defied the global scare of the deadly coronavirus to hold its crucial meeting in Vienna, Austria.
Nigeria’s re-emergence as Africa’s biggest economy followed South Africa’s slump into its second recession in two years, as severe rolling power blackouts frustrate President Cyril Ramaphosa’s attempt to revive growth.
Nigeria’s economic growth beat forecasts in the fourth quarter, helping its economy to expand the most in four years in 2019 as oil output increased and the central bank took steps to boost credit growth. GDP in the West African country stood at $476 billion or $402 billion, depending on the rate used. =
The World Bank and the International Monetary Fund (IMF) have teamed up to offer financial assistance to countries whose economies are threatened by the coronavirus disease.
Nigeria’s gross domestic product grew by 2.27% in 2019, data released by the National Bureau of Statistics has shown.
Manchester United have cleared striker Marcus Rashford to step up his rehabilitation from a back injury that has kept him out of action since January.
Osun State Police Command has arrested a middle-aged man in Osogbo for impersonating the state government to swindle unsuspecting citizens of the state under the guise of providing social relief during the stay-at-home period.
As part of efforts to ameliorate the socio-economic hardship being faced by Nigerians in the fight against the deadly coronavirus, the federal government has been urged to extend her palliative to include suspension of payment of electricity and water bills for the ordinary Nigerians for two months.
Pan Yoruba socio-political organisation, Afenifere, on Monday said President Muhammadu Buhari should have given the residents of Lagos, Ogun and Abuja enough time to prepare before announcing the lockdown of the states.
The Food and Agriculture Organisation, FAO, Monday, urged governments in countries affected by the coronavirus, COVID-19 pandemic to keep the food chain alive in order to avoid the food crisis.
South Korea has also seen a large number of recoveries, with nearly a third of its infected population having recovered from the virus. Italy, despite having the largest number of confirmed cases outside China, has also seen recoveries than deaths since the outbreak began.
The Nigeria Centre for Disease Control has confirmed 14 new cases of coronavirus in Nigeria.
The Bauchi State Commissioner for Education, Aliyu Tilde, on Wednesday said Nigeria may not be able to handle a large Covid-19 outbreak due to a shortage of test kits.
According to the lead agency in the battle against the scourge in Nigeria, the new cases were recorded in the Federal Capital Territory, Abuja and Lagos and Rivers States.
The Ogun State Government has announced the closure of its borders with its neighbouring states and the Republic of Benin to stem further spread of the coronavirus pandemic.