The World Bank Group and International Monetary Fund (IMF) have called on all official bilateral creditors to suspend debt payments from IDA countries that request forbearance.
International Finance
World Bank Group Increases COVID-19 Response to $14 Billion To Help Sustain Economies, Protect Jobs
The World Bank and IFC’s Boards of Directors approved today an increased $14 billion package of fast-track financing to assist companies and countries in their efforts to prevent, detect and respond to the rapid spread of COVID-19.
Somalia: African Development Bank Group approves framework to clear nation’s arrears
The African Development Bank and African Development Fund on Wednesday approved a framework for $122.55 million to clear Somalia’s arrears, paving the way for the Bank Group to fully reengage with Somalia and opening opportunities for enhanced financing for the country.
AfDB signs five-year agreement to use FIDIC standard contracts
The International Federation of Consulting Engineers (FIDIC) (FIDIC.org) has secured a major agreement with the African Development Bank (AfDB.org) that will see the international funding organisation include the use of seven FIDIC standard contracts for the next five years.
Global Growth: Modest Pickup to 2.5% in 2020
Global economic growth is forecast to edge up to 2.5% in 2020 as investment and trade gradually recover from last year’s significant weakness but downward risks persist, the World Bank says in its January 2020 Global Economic Prospects.
Niger and IMF reached agreement on review of ECF-supported program
The Nigerien authorities and the IMF team reached staff-level agreement for the completion of the fifth review of the ECF-supported program.
New IMF Chief meets President Julius Maada Bio, discusses plans for partnership
New Mission Chief of the International Monetary Fund, IMF, to Sierra Leone, Ms. Karen Ongley, and its Resident Representative, Dr Monique Newiak, have met President Julius Maada Bio to discuss further ways of partnership.
