Wednesday, June 19, 2019

Tag: African Development Bank

The Dreadful Chronology of Gaddafi’s Murder

Jean-Paul Pougala’s April 14, 2011 piece in Pambazuka News titled “The Lies Behind the West’s War on Libya” describes how Africa first developed its own transcontinental communications system by purchasing a telecommunications satellite on December 26, 2007: the African Development Bank ponied up $50 million toward the nearly $400...

What will $12 billion IMF loan cost Egypt?

CAIRO — On July 28, Egyptian Finance Minister Amr El Garhy announced that Egypt would seek a $21 billion loan package to fill the budget’s financing gap. Of this amount, $12 billion would be in the form of a loan from the International Monetary Fund — Egypt is in the...

Africa’s Petrostates Are Imploding

And that’s setting off a dramatic shift in the economic balance of power on the continent. Africa's petrostates are crashing hard. A cool $115 in the summer of 2014, a barrel of Brent crude, the international pricing benchmark, now fetches below $40. And having failed to build massive foreign exchange...

As oil prices tumble, from Algeria, Nigeria, Gabon to Angola, Africa’s producers are in...

The decline in the oil price has plunged Africa's oil and gas industry into dire straits, a situation made worse by factors such as uncertain regulation, corruption and the prospect of political and social instability. It is a particular burden on those economies most reliant on the industry for revenue,...

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