BANGKOK, THAILAND – OCTOBER 16: The International Monetary Fund (IMF) and World Bank Group annual meetings at the Queen Sirikit National Convention Center (QSNCC) in Bangkok, Thailand, on October 16, 2026. Matt Hunt | Anadolu | Getty Images The world’s finance chiefs spent last week in Bangkok debating the biggest risk facing the global economy…
Addis Abeba — Kenya has overtaken Ethiopia as Eastern Africa’s largest economy measured by nominal gross domestic product (GDP) in US dollar terms, according to the International Monetary Fund’s (IMF) October 2026 World Economic Outlook (WEO), a shift largely attributed to exchange-rate movements rather than faster real economic growth. The IMF’s estimates show Ethiopia’s economy…
The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has warned that artificial intelligence (AI) could affect about 40 per cent of jobs globally, urging governments to prepare workers for changes in the labour market. Georgieva spoke during a panel session titled “Small Scale AI: More and Better Jobs” at the ongoing 2026…
Luno’s Marius Reitz Luno has opened a new front against draft cross-border crypto rules from national treasury and the South African Reserve Bank, arguing that they treat stablecoin payments inconsistently with South Africa’s international commitments. Under the draft, Luno says, all payments in stablecoins – crypto tokens pegged to a currency, usually the US dollar…
Senegal reached a staff-level agreement with the International Monetary Fund for a $2.2 billion, 3-year lending programme as the government seeks to restore debt sustainability after uncovering more than $11 billion of previously misreported borrowing. The agreement still requires approval from IMF management and its Executive Board. The deal follows months of negotiations after the…
Artificial intelligence could increase Sub-Saharan Africa’s economic output by about four percent over the next decade, but only if governments make substantial investments in electricity, internet connectivity and digital skills, the International Monetary Fund said in a report released Tuesday. Without those reforms, the region would capture only marginal gains from the AI revolution, with…
Sub-Saharan Africa needs a new growth model to return to a path of income gains, the International Monetary Fund said, warning that public spending can no longer carry the region’s expansion. The IMF said reforms in governance, business rules and market openness could raise regional output by about 20% over 5 to 10 years, if…
African countries must increasingly rely on their own resources and institutions to drive development as international aid continues to decline, the International Monetary Fund (IMF) has advised. According to the IMF, the era of predictable and abundant foreign aid was gradually fading, making it imperative for governments across the continent to strengthen domestic revenue mobilisation,…
We had warned in April 2024 that the political partnership between President Diomaye Faye and Prime Minister Ousmane Sonko in Senegal might not stand the test of time. Their falling out after two years has vindicated that prediction, which was based on the history of godfatherism in African politics. Kenneth Kaunda was considered the father…
The International Monetary Fund (IMF) should not be an arbiter of discussions about which other multilateral financial institutions should qualify for preferred creditor status. This is because the IMF is a direct beneficiary of the creditor hierarchy policy. A preferred creditor status gives multilateral development institutions priority for the repayment of their loans should a…
