IMF said its board had approved a $3.7 billion credit facility for Angola to support economic reforms and would immediately disburse around $990 million.
South Africa’s economic recovery plans face serious constraints with growing debt of state firms domestically and capital outflows as a result of global trade tensions, the International Monetary Fund (IMF) said on Monday.
Since the ANC resolved to change the constitution on expropriation of land without compensation at its policy conference in December, government officials from the President down have gone to great lengths to assure the international community that this process would unfold within the confines of the rule of law.
The International Monetary Fund has reached a staff-level agreement with Egypt to disburse another $2 billion from the country’s $12 billion extended fund facility, it said on Tuesday.
They also say a falling out between Alassane Ouattara and Henri Konan Bedie, who served as president from 1993 until he was overthrown in a 1999 coup, was perhaps inevitable.