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Comoros economy to grow by up to 2 pct: IMF

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The Comoros islands' economy is expected to grow by up to 2 percent in 2010 from 1.8 percent last year, the International...

Nigeria leader wants sovereign wealth fund in months

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Nigeria's Acting President Goodluck Jonathan wants a sovereign wealth fund for sub-Saharan Africa's biggest energy producer established within months, the country's new...

Emerging nations push for say in global economy

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Developing countries will this week demand a louder voice at the World Bank and the IMF, now that they are contributing more...

Volcano market impact moves far beyond airlines

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The impact of Europe's volcano flight shutdown moved beyond airlines, rippling through food and energy producers and by delaying an IMF-EU meeting...

World Bank set for capital boost, tough vote talks

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Global finance leaders face fractious talks this week on how to shift more voting power at the World Bank to emerging economic...

‘Third World’ concepts no longer relevant: Zoellick

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The old concept of "Third World" no longer applies and rich countries cannot impose their will on developing nations that are now...

Comoros eligible for HIPC debt relief: IMF, World Bank

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The World Bank and the International Monetary Fund (IMF) said that a preliminary review had found that Comoros was eligible for relief...

UK passes law limiting claims by vulture funds

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Britain's parliament passed a law yesterday limiting the ability of so-called vulture funds to sue some of the world's poorest countries in...

Africa must promote investment to develop: Blair

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Former British Prime Minister Tony Blair added his voice to calls for African development strategies to go beyond aid, saying a predictable...

CAR economy has improved: IMF

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The short-term economic outlook in the Central African Republic has improved and the pace of growth is likely to pick up to...

Kabila heads to South Korea for deals

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Congo's President Joseph Kabila will lead a delegation to South Korea this weekend to discuss deals in infrastructure, health and mining, Korean...

IMF urges Senegal to rein in spending to cut deficit

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The International Monetary Fund urged Senegal to rein in public spending to bring its public deficit down to 4 % of gross...

Burundi economy to grow 3.9 pct in 2010: IMF

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Burundi's economy is expected to grow by 3.9 percent this year from 3.5 percent in 2009 helped by strong coffee production, the...

IMF sees continued strong growth for Ethiopia

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Ethiopia's outlook is favourable but its government needs to step up its anti-inflation and foreign currency rebuilding measures, the International Monetary Fund...

Zimbabwe funds subject to arrears clearance: IMF

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International Monetary Fund financing to Zimbabwe remained subject to the clearing of arrears and further reforms in the fragile economy, the Fund...

DRC could win debt relief deal by June: IMF

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Democratic Republic of Congo could win a deal to wipe out the bulk of its $11 billion debt in time for June...

Ivory Coast growth could fall to 3 pct: IMF

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The International Monetary Fund said that Ivory Coast's economic growth could fall to 3 percent this year, after weeks of political instability...

Tanzania has room for infrastructure funds: IMF

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Tanzania has scope to raise spending on infrastructure projects in the fiscal year starting in July against a background of higher economic...

Zimbabwe struggles to attract foreign aid: Biti

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Zimbabwe will have to rely on its own resources to revive its economy because foreign donors are unlikely to provide nearly enough...

Congo appeals for creditors to snub vulture funds

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Democratic Republic of Congo has urged creditors not to sell its debt to vulture funds as it struggles to pay back loans...

IMF forecasts Tanzania’s growth at 6.2 pct

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Tanzania's economy is expected to grow by 6.2 percent in 2010 after expanding 5.5 percent last year and inflation should ease to...

Africa needs to rebuild crisis defences: IMF

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With its economies recovering, Africa needs to start rebuilding reserves and thinking about tightening spending to build defences against future crises, the...

Ivory Coast to launch debt deal soon: London Club

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The Ivory Coast is poised to launch an exchange on €2.2 billion ($3 billion) of debt that it hopes to close in...

IMF to upgrade Africa growth view: Africa director

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The IMF may upgrade its assessment of Africa's economic growth prospects because some countries fared better than expected in a global recession...

Paris Club cancels, restructures $3 bln DRC debt

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The Paris Club of creditor nations has agreed to write off or reschedule almost half of the $6.9 billion debt owed to...

IMF restores Zimbabwe voting rights

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International Monetary Fund member countries agreed unanimously last week to restore Zimbabwe's voting rights after a seven-year suspension, a step toward normalizing...

IMF to decide on Zimbabwe voting rights

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The International Monetary Fund's board will consider whether to restore Zimbabwe's IMF voting rights in a meeting today, an IMF spokesman said...

Liberia on track for HIPC debt relief this year: IMF

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Liberia is on track to clear much of its remaining $1.7 billion in foreign debt under the Heavily Indebted Poor Countries initiative...

IMF to decide on Zimbabwe’s voting rights

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The International Monetary Fund will decide later this month whether to restore Zimbabwe's voting rights in the Fund, Finance Minister Tendai Biti...

IMF agreement eases G Bissau debt relief

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Guinea-Bissau has reached a preliminary agreement with the International Monetary Fund to secure financing and a support programme that could lead to...

Kenyan economy growing in 2010: IMF

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The International Monetary Fund said today it expects Kenya's economy to grow by 4.5 % in 2010 from 2.75% in 2009, helped...

UN debt expert to focus on vulture funds

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The United Nations independent expert on foreign debt is targeting vulture funds after a couple of high-profile rulings ordering poor African states...

Senegal proposes African state for Haitians

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Senegal's leader proposed the creation of a new African state to resettle Haitians left homeless by an earthquake, comparing the idea to...

Congo to amend 2010 budget to control spending

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The Democratic Republic of Congo is to amend its 2010 budget in a bid to ensure it qualifies for more debt relief,...

Kenya monetary policy ‘appropriate’: IMF

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The International Monetary Fund said yesterday rate cuts in Kenya were "appropriate" and future monetary policy should focus on safeguarding price stability...

DRC welcomes “favourable” IMF rating

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The Democratic Republic of Congo's (DRC) envoy to the United Kingdom says his government is excited after receiving a recent "favourable" rating...

IMF gives Mauritania $100 mln in aid

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The International Monetary Fund said it would give Mauritania at least $100 million in financial aid over the next three years, adding...

IMF lends Zambia $81 mln

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The International Monetary Fund (IMF) has agreed to lend Zambia $81 million to be disbursed immediately, a factor likely to provide short-term...

Tanzania expects more donor aid despite failings

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Tanzania will get more foreign aid injected directly into next year's budget than it did this year, despite slipping in corruption and...

Chad seeks IMF help to renew ties to donors

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Chad has requested International Monetary Fund monitoring to re-establish its economic credentials with donors at a time oil revenues have plummeted, according...