IMF

Investors have pulled out $90bn from emerging markets since COVID-19 outbreak – IMF

The rapid spread of coronavirus pandemic which has already taken thousands of human life and disrupted business activity, could retard Africa’s economic growth prospects in the coming years, the International Monetary Fund (IMF) has said. The IMF said Wednesday as it launched the economic...

Thursday, April 16, 2020 - 12:23am

Global economic growth to contract by 3 per cent

The global economic growth will contract by 3 per cent in 2020 due the impact that Covid-19 has exerted on countries, the International Monetary Fund (IMF) said on Tuesday as it released its latest forecast. The latest projection is a revision of 6.4 percentage points from the previously...

Wednesday, April 15, 2020 - 1:33am

How IMF debt service relief to Rwanda will boost economic recovery

Rwanda has a six-month debt service relief from its International Monetary Fund (IMF) obligations which will allow up to $11M liquidity. The International Monetary Fund has paused collection of debts from a number of countries including Rwanda as part of its revamped Catastrophe Containment...

Wednesday, April 15, 2020 - 1:20am

Rwanda’s economic growth projected at 5.1% for 2020

The government and the International Monetary Fund (IMF) have revised Rwanda’s economic growth projections for 2020 to 5.1 per cent in light of the effects of the novel coronavirus and its impact on the economy. The economy grew by 9.4 per cent in 2019 and was initially projected to...

Saturday, April 4, 2020 - 10:15am

COVID-19: Rwanda receives $109m emergency funding from IMF

The International Monetary Fund (IMF) said Thursday that it has approved $109.4 million credit to Rwanda. The disbursement will help the country, which has registered 84 coronavirus cases so far, to address the pandemic. The emergency assistance is drawn under the Rapid Credit Facility (...

Friday, April 3, 2020 - 1:26am

IMF officially declares global economic recession

The International Monetary Fund (IMF) Friday officially declared that the global economy has entered recession as a result of the spread of the new coronavirus, which has shut down economic activities across the world. IMF’s Managing Director, Kristalina Georgieva, said they have...

Saturday, March 28, 2020 - 10:01am

World Bank, IMF push for debt relief to low income nations

The International Monetary Fund (IMF) and the World Bank Group have jointly called on official bilateral creditors to offer immediate debt relief to low income countries that are experiencing the impact of the new coronavirus. In a joint statement, the institutions said Wednesday that the...

Thursday, March 26, 2020 - 12:27am

IMF cuts global growth forecast amid Coronavirus spread

The International Monetary Fund (IMF) on Wednesday warned that the global economic growth this year would fall below last year’s levels, urging countries to spend significant resources to manage the epidemic. “We, unfortunately, over the last week, have seen a shift to a more adverse...

Thursday, March 5, 2020 - 12:10am

Most African countries have debt levels that are manageable, IMF Africa head

As public debt steadily climbs in Africa many are concerned about a gradually unfolding debt crisis similar to the situation in the early 2000s. At the same time Abebe Aemro Selassie, director of the Africa Department at the IMF, argues that much of the debt is manageable and external shocks...

Tuesday, July 10, 2018 - 11:27am

Are Rwanda’s tax incentives good for the economy?

Rwanda’s tax incentives are probably too generous and risk being unsustainable in the long run, finance experts from the International Monetary Fund (IMF) said yesterday. According to the IMF, the tax-based incentives are important to attract investors, however, in the long run, such...

Friday, June 22, 2018 - 12:41am

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