Africa Business World 

IMF says 40% of African countries are in debt crisis

The Managing Director of the International Monetary Fund, Kristalina Georgieva, says 40 per cent of African countries are in debt distress. She described Africa as a continent of opportunities and one with many troubles, noting that the focus was to help countries have sound macro-economic policies, improve the investment climate and show it to the rest of the world. “Africa is a continent of opportunities and what we are looking for is for this opportunity to be harnessed to the maximum. It is also a continent with many troubles; so,…

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Africa Business World 

Commonwealth finance ministers to meet over debt crises

Commonwealth finance ministers will meet in Washington D.C. on October 17, 2019 to discuss coordinated interventions to prevent future debt crises. The meeting will be chaired by the Finance Minister of Cyprus, Harris Georgiades, under the theme ‘Preventing Debt Crises: The Roles of Creditors and Debtors’. It will be preceded by sessions for senior finance ministry officials and central bank governors. Ministers will explore policy options and strategies by which debtor countries can work with creditors to prevent the recurrence of debt crises. Debt crises, as witnessed recently in Greece…

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