African growth trajectories and the impact of COVID19 are currently shedding doubts on countries’ ability to reach this objective, unless the region achieves faster growth than before the pandemic in the upcoming years. Day two of the 7th African Regional Forum for Sustainable Development (ARFSD) kicked off Tuesday under the chairmanship of the Zimbabwe Minister […]
Before the onset of the deadly novel coronavirus (COVID-19), Africa was recording positive growth rates but not enough to achieve the sustainable development goals, says Economic Commission for Africa’s Bartholomew Armah. The ECA’s Acting Director of the Macroeconomics and Governance Division said this while giving a progress report on the implementation of Agendas 2030 and […]
The International Monetary Fund (IMF) forecasts that Ethiopia’s economy will only grow by 2 percent for the current fiscal year began July 8, 2020. “Looking forward, economic growth is projected to be 2 percent in 2020/21 due to the lingering impact of the pandemic, and is expected to rebound to 8.7 percent in 2021/22, consistent […]
The African Trade Policy Centre (ATPC), a unit of the UN Economic Commission for Africa (UNECA), in collaboration with Business Unity South Africa (BUSA), will host a conference on leveraging the African Continental Free Trade Area (AfCFTA) to boost women’s economic empowerment on Tuesday 23 February. The virtual event is aimed at creating a better […]
Kenyan President, Uhuru Kenyatta, on Monday passionately delivered an inspiring keynote address during the Economic Commission for Africa’s (ECA) fourth African Business Forum, emphasizing the importance for African governments to create enabling regulatory environments, develop vibrant and sustainable financial and research support structures to spur innovation on the continent. Mr. Kenyatta said partnering with a […]
The Executive Secretary of the Economic Commission for Africa (ECA), Vera Songwe, on Friday 5 February 2021 met with African Ministers in charge of finance and the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, to discuss immediate economic response to the COVID-19 pandemic. During the virtual meeting, which was convened by the […]
The Ministry of Finance of Ethiopia has denied recent press reports of its intentions to implement debt treatment exercise to its public external debt. In its press statement the Ministry recalled that since June 2020, Ethiopia has signed a Memorandum of Understanding with the Paris Club under the auspices of the G20 Debt Service Suspension […]
In spite of the particularly challenging international economic situation arising from the health crisis, the Republic of Djibouti has entered the year 2021 with determination. According to the World Bank’s Global Economic Prospects report, Djibouti is expected to experience the strongest GDP growth in Africa this year with a projected rate of 7.1%. This outlook […]
During the first five months of the budget year of the country started July 8, 2020, the Government of Ethiopia has secured $1.4 billion remittances from the Ethiopian diaspora who used legal banking channels to send money to their relatives. When the year ends, the east African country expects to get $4 billion hard currency […]
The success of African Continental Free Trade Area, which goes operational on Friday January 1, 2021, depends on the strong partnership between the private sector and the public sectors, says a UN official. “For the African Continental Free Trade Area (AfCFTA) to deliver on its promises, the private and public sectors on the continent must […]