Total external debt of low- and middle-income countries climbed 5.3 percent to $7.8 trillion last year, while net debt flows (gross disbursements minus principal payments) from external creditors tumbled 28 percent to $529 billion, the World Bank’s International Debt Statistics 2020 shows.
On July 26, the Executive Board of the International Monetary Fund (IMF) enables the disbursement of US$43.7 million, bringing total disbursements under the arrangement to US$304.5 million for Madagascar.
The OPEC Fund for International Development highest policy-making body, the Ministerial Council, held its 40th Annual Session in Vienna, Austria, and approved the general principles of OFID’s new Strategic Framework.
Nigeria will feature significantly in the 2019 Africa Investment Forum scheduled to take place in Johannesburg, South Africa this November, business leaders and government heard at a roadshow event held in the capital Abuja.
The 29th Oversight Committee (OC) meeting of the New Partnership for Africa’s Development Infrastructure Project Preparation Facility (NEPAD-IPPF) Special Fund held at the headquarters of the African Union Commission in Addis Ababa, Ethiopia, ended with calls for increased investments to accelerate the closure of Africa’s infrastructure gap.
The African Development Bank (AfDB) announced a EUR 40 million investment from the European Commission for the Facility for Energy Inclusion (FEI), a new platform for financing small-scale renewables in Africa.
The head of the IMF staff review mission to Sierra Leone, Ms. Karen Ongley said the country’s economic landscape remains challenging but that the authorities have navigated the difficulties well in the year since taking office, helping to stabilize the economy.
