The debt moratorium granted by the G20 to poor countries is welcome among the international community. According to Tidjane Thiam, a member of the Africa COVID task force, this decision will allow the beneficiaries to get available resources to face the urgent challenges that come with the pandemic. “The idea for the moratorium came from the fact that if an operation could suspend the payment...

The International Monetary Fund approved on April 14 the disbursement of SDR84.28 million, the equivalent of $115.3 million to help Burkina Faso curtail the impact of covid-19 on the economy. The sum is part of the Rapid Credit Facility (RCF) put in place by the IMF to assist countries to meet their balance of payment needs; improve health, social protection, and macroeconomic stabilization...

One million people need food assistance in Ethiopia due to the current desert locust invasion, according to a statement by the UN Food and Agriculture Organization (FAO). FAO says the insects have destroyed 200,000 hectares of agricultural land and 356,000 tons of cereals. Sorghum and corn are in the frontline with 114,000 ha and 41,000 ha destroyed, respectively. The regions of Oromia, Somali,...

China says it is ready to collaborate with the international community to relieve the debt of African countries. The move will help indebted countries to meet their challenges in this covid-19 crisis context. According to the Chinese minister of foreign affairs, Wang Yi (pictured), a temporary freeze on debt payment by African countries, as part of an agreement between the key G20 countries, is...

The distribution of generous dividends on the regional stock market BRVM will be severely hampered this year, due to the impact of the current covid-19 pandemic. For the time being, companies listed on this market are still working the traditional way. Eight of them have posted a positive net profit for the 2019 financial year and announced a cumulative gross dividend of CFA227.6 billion for a...

The Regional Stock Exchange (BRVM) lost CFA471 billion ($788.7 million) over the 30 days ending April 13, 2020, market data shows. Of the 45 companies listed on this market, 36 experienced a decline in share value over the period. The top 4 poor performers include Palm CI (-33.3%), Servair (-31%), Bolloré Transport & Logistics (-26.1%) and Société des Rubberes du Grand-Béreby...

The African Development Bank (AfDB) mobilized on April 14 the equivalent of $258.8 million from various European and African capital markets, we learned. A significant part of this resource, $ 251.2 million, was mobilized on the Swedish capital market for the equivalent of SEK2.5 billion. The interest rate offered on this loan is 0.24% with a repayment date of 14 April 2023. Two other...

The IMF Board approved on April 13 the disbursement of SDR738 million or $1 billion in emergency aid for Ghana under the Rapid Credit Facility (RCF). Ghana will use the money to speed up its response plan against the Covid-19, including meeting an urgent budget and balance of payment needs. IMF financing will catalyze funds from other development partners. It is the highest amount so far...

Increasing numbers of women can be seen around the goat and sheep pens of Saria, in the province of Boulkiemdé, in Centre-West Burkina Faso. But not for the typical scenario - as animal herders; nowadays, they are there because they own them. One of them, Salimata Kaboré, runs a small penwith four animals- two ewes and two rams. "I built the pen myself with help from the Sahel 1 programme to...

IMF approved on April 13 the disbursement of $442 million for Senegal under the Rapid Credit Facility (RCF) and the Rapid Financing Instrument (RFI) to help the country address the urgent needs of the balance of payments caused by the covid-19 pandemic. The financing consists of the purchase under the RFI equivalent to SDR215.7 million (about $294.7 million or 67% of quota) and...