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…
Washington, DC — Mr. Seedy Keita, Chairman of the African Caucus and Minister of Finance and Economic Affairs of The Gambia, and Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), issued the following statement at the conclusion of the African Consultative Group[1] meeting: “Ministers and Governors from the African Consultative Group met…
The following is the full transcript of an interview with Kristalina Georgieva, managing director of the International Monetary Fund, that aired on “Face the Nation with Margaret Brennan” on April 12, 2026. MARGARET BRENNAN: Director, thank you so much for making time for us. We’re in an incredible moment right now. How do you calculate…
The Ghana cedi emerged as Africa’s best-performing currency in 2025, according to data from the International Monetary Fund (IMF) analysed across more than 20 major economies on the continent. The IMF data shows that the cedi appreciated by more than 40 per cent against the US dollar in 2025, making it the strongest-performing currency in…
Harare — Most of the fastest-growing economies, with gross domestic product growth rates exceeding 6%, will be on the African continent in 2026, according to Africanews, citing data from the International Monetary Fund (IMF). Growth rates in countries such as Rwanda, Uganda, and Ethiopia will exceed 7%, while South Sudan and Guinea will achieve double-digit…
