IMF flags risks of industrial policy on economic growth
Post AMUGE
April 10, 2024
Says it may not boost economic growth as hoped Onome Amuge The International Monetary Fund (IMF) has cautioned that the industrial policy initiatives recently implemented by the United States, Europe, and other countries to drive innovation in certain sectors would not be a “silver bullet” for stimulating economic growth. In a chapter of its Fiscal […]
Africa’s economic growth projected at 3.4% for 2024, but uncertainties loom large, says World Bank
Post AMUGEApril 10, 2024
Onome Amuge Sub-Saharan Africa’s economy is expected to rebound from a low of 2.6 per cent in 2023 to 3.4 percent in 2024 and 3.8 percent in 2025, buoyed by increased private consumption and declining inflation. However, this rebound remains highly uncertain, and is subject to a number of downside risks, according to a World […]
Global business insolvencies to stabilise higher in 2025 after accelerating in 2024
Post AMUGEMarch 25, 2024
5 challenges make 2024 year of reality check for firms, economy PHILLIP ISAKPA IN LONDON, UK Average global business insolvencies, which raced to a positive 29 percent in 2023 from +23 percent in 2022, is expected to maintain another acceleration this year at +9 percent year-on-year before stabilising at a high level in 2025, says […]
Tony Elumelu Foundation stars in Harvard Business School’s new case study
Post AMUGEMarch 1, 2024
Onome Amuge Amidst geopolitical uncertainty and shifting development finance landscapes, the Tony Elumelu Foundation (TEF) has forged a groundbreaking path for mentoring, resourcing, and networking young African entrepreneurs, earning recognition from the Harvard Business School. A recent case study from Harvard Business School recently explored the innovative and transformative work of the TEF in catalysing […]
WMO forecasts 90% chance Earth to be hotter by end-2025 than Paris goal
BEN EGUZOZIEMay 31, 2021
…Atlantic Ocean to brew more potentially dangerous hurricanes …For this year, large parts of Northern Hemisphere lands to be 1.4 degrees warmer …Africa, already hit by $15bn climate cost, to come off worse than other regions Ben Eguzozie, in Port Harcourt A new World Meteorological Organization (WMO) forecast predicts that for […]
New Deal for Africa by European, African leaders to stimulate $33bn SDRs for continent post-Covid recovery plan
BEN EGUZOZIEMay 28, 2021
…IMF: Africa needs $285bn post-Covid recovery additional financing Ben Eguzozie, in Port Harcourt A ‘New Deal for Africa’ proposed at the just-concluded Paris African Financing summit looks to get Africa access to $33 billion in Special Drawing Rights (SDRs) for its post-Covid-19 recovery and sustainable growth plan. The leaders […]
Afreximbank shows strong growth in Q1 2021
BEN EGUZOZIEMay 27, 2021
…Net income rose 4% to $87.3m via 23% growth in net interest income Ben Eguzozie, in Port Harcourt Pan-African multilateral financial institution, African Export-Import Bank (Afreximbank) has released its unaudited financial statements for three months ended 31 March 2021, showing strong and resilient growth, ahead of prior year results and in line with expectations. […]
Nigeria, others to benefit from World Bank’s $150bn 5-yr additional Africa investment
BEN EGUZOZIEMay 27, 2021
…To benefit from funding over the next five years …Nigeria, continent’s top economy, needs $3-trn over-30-yr to meet huge infrastructure gap Ben Eguzozie, in Port Harcourt Nigeria and other 54 African countries would benefit from the World Bank’s additional $150 billion investment plan in Africa over the next five years. […]
UK prime minister announces plan for ‘Global Pandemic Radar’
Mike OchonmaMay 26, 2021
Mike Ochonma UK prime minister; Boris Johnson, has launched plans for a new ‘Global Pandemic Radar’ to identify emerging COVID-19 variants and track new diseases around the world, ahead of the Global Health Summit hosted by Italy and the EU. The pathogen surveillance network will save lives and protect health systems by spotting diseases […]
IMF earmarks $50bn to end COVID-19 pandemic faster
Zainabs IwayemiMay 24, 2021
