Monday, 17th February 2020


Articles related to economy

IMF: Zimbabwe has the highest inflation rate in the world

Annual inflation in Zimbabwe was 300 percent in August, according to new data released by the International Monetary Fund (IMF). At that level, the troubled southern African nation's inflation rate is the highest in the world.

Annualised inflation in Zimbabwe was measured at 175.66 percent in June, up from 97.85 percent in May. In a statement released…

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Kenya central bank says banking sector consolidation to continue

Kenya central bank governor said on Tuesday ongoing consolidation in the banking sector will continue.

“We are not done yet,” Patrick Njoroge told a news conference, adding that the market-driven consolidation was working.

There has been significant consolidation among Kenyan banks since two mid-sized lenders were closed due to liquidity problems,…

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Sudan will ask World Bank for $2 billion in support - finance minister

Sudan’s prime minister will ask the World Bank for $2 billion in support during his current visit to New York, the country’s finance minister said on Monday.

Finance Minister Ibrahim Elbadawi also said Sudan had asked the World Bank to second and fund three Sudanese experts to work in Sudan during the country’s political transition.


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Zimbabwe central bank tightens rules for currency exchanges

Zimbabwe’s central bank has tightened the rules governing the trade of foreign currency by money exchange offices with immediate effect.

The rates offered by exchange offices must be 7% above or below the interbank mid-rate, the central bank said in an emailed statement. Failure to comply would result in either heavy financial penalties or license…

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South African rand firmer against dollar, seen on backfoot

South Africa’s rand was slightly firmer against the U.S. dollar on Monday after “productive” Sino-U.S. trade negotiations helped forge a cautious, risk-on mood.

* The rand traded at 14.9150 versus the greenback, as of 0513 GMT, 0.13% stronger compared with its overnight close.

* While a deal still looked elusive following talks between the United…

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