markets
UMB’s Overview of Ghana’s Extended Credit Facility with the International Monetary Fund.
As part of Ghana’s economic recovery process, the Government of Ghana sought the assistance of the International Monetary Fund (IMF) on September 26, 2022, for a 36-month Extended Credit Facility Program worth USD 3 billion. Following extensive stakeholder engagements, the IMF board approved the disbursement of the first tranche amounting to USD 600 million on…
RWANDA REPAYS $400 MILLION EUROBOND DESPITE ECONOMIC PRESSURES
Rwanda has faced multiple pressures on her finances brought on by ongoing global shocks linked to the prolonged impact of the Covid-19 pandemic, the war in Ukraine, and the appreciation of the US dollar. However, this did not deter the East African Nation from successfully repaying its $400 million Eurobond. According to information obtained by…
INVESTMENT IN TANZANIA HAS INCREASED BY 173% UNDER PRESIDENT SAMIA SULUHU HASSAN’S ADMINISTRATION
According to Tanzania Investment Centre (TIC), investments in Tanzania under Samia Suluhu Hassan’s administration increased from $3.16 billion (roughly Sh7.27 trillion) to $8.64 billion (about Sh19.87 trillion), which is a 173% growth in just two years. Tanzanians hold 32% of the projects listed as being owned by the present administration, followed by international investors at…
TANZANIA ON PACE TO BECOME EAST AFRICA’S SECOND LARGEST ECONOMY
Kenya currently stands as East Africa’s second largest economy in terms of overall GDP, second only to Ethiopia. However, the economic number two spot of the subcontinent could change holders within the next decade owing to the rate at which East Africa’s 3rd largest economy, Tanzania is growing. A report issued by the International Monetary…
GOD-LIKE AI PUTS US AT RISK OF “NUCLEAR-LEVEL” CATASTROPHE.
Artificial general intelligence or AGI refers to the point at which a machine can understand or learn anything that humans can. Thankfully, we’re not quite there yet but this is considered the primary goal of the rapidly growing industry. While some are excited about AI’s financial benefits, like one ex-Meta exec who said AI would…