The International Monetary Fund’s Executive Board on Friday approved a three-year $2.9 billion financing package to support Ethiopia’s economic reform program, the IMF said.
Africa has embraced sound economic policies and even the political class has started to appreciate the importance of such policies, Kenya’s central bank governor said on Wednesday.
Sudan PM Abdalla Hamdok an economist, who has worked for the UN Economic Commission for Africa, said he had started talks with the IMF and the World Bank to discuss restructuring Sudan’s crippling debt.
Reserve Bank Governor Lesetja Kganyago has strongly cautioned against approaching the IMF for financial backing.
IMF demanded that Congo ensure the long-term sustainability of its debt as a precondition for a three-year extended credit facility programs.