Russia, which chairs the BRICS group this year, has called on its partners to create an alternative to the International Monetary Fund (IMF). This is to counter political pressure from Western nations before the Brics summit later this month. BRICS, originally comprising Brazil, Russia, India, and China, has expanded to include South Africa, Egypt, Ethiopia, […]
Egyptian inflation is forecast to have ticked up in March as prices adjust to a currency devaluation and an interest rate hike early in the month. This is followed by an increase in fuel prices two weeks later, a Reuters poll showed on Saturday. The austerity measures are linked to a $8 billion financial support […]
The Rwandan Government has secured $268 million from the International Monetary Fund (IMF) to confront climate shocks, the Ministry of Finance has said. IMF approved the funding under the new Standby Credit Facility, on Thursday. “The government will use the fund to boost the balance of payments,” the ministry said on social media platform X, […]
Pakistani Rupee dropped to an all-time low against the U.S. dollar, crossing the barrier of 300 Rupees to the greenback, on Thursday, the State Bank of Pakistan said. The closing exchange rate of the Pakistani currency in the interbank market stood at 300.22. This is a decrease of 0.58 rupee or 0.19 per cent from […]
A majority of Ghana’s ruling party parliamentarians, on Tuesday, asked the President to sack the Finance Minister, Ken Ofori-Atta, and his deputy, with a view to “restoring hope in the financial sector”. Ghana is facing its worst economic crisis in a generation. Last week was the cedi currency’s worst in 15 years, falling nearly 20 […]