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South Africa: Net foreign reserves hit $42.651 billion in September

South Africa’s net foreign reserves rose slightly to 42.651 billion dollars in September from 42.646 billion dollars in August, the Reserve Bank said on Friday. Gross reserves rose to 49.384 billion dollars from 46.921 billion dollars, the Central Bank data showed. The forward position, which represents the central bank’s unsettled …

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Democratic Gambia ‘is at a historical turning point’ – IMF Mission

A top International Monetary Fund (IMF) official, Ulrich Jacoby, has said the Gambia is at an economic turning point following the transition of power earlier this year. According to him, despite the challenges that lie ahead, concerted policy efforts plus the support from the international community will be key to …

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Nigerian musician Innocent Idibia donates $11,000 to UNHCR for humanitarian efforts

Nigerian music icon, Innocent Idibia – known by his stage name Tuface, has donated 3.5 million naira to the UN refugee office in the country. He has also disclosed that a charity concert will be held in June to help raise more funds. The funds which come up to over …

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The IMF Is Worried About the World’s $152 Trillion Debt Pile

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Eight years after the financial crisis, the world is suffering from a debt hangover of unprecedented proportions. Gross debt in the non-financial sector has more than doubled in nominal terms since the turn of the century, reaching $152 trillion last year, and it’s still rising, the International Monetary Fund said. …

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Mauritius: Economy ranked ‘most competitive’ in sub Saharan African

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Mauritius is sub Saharan Africa’s most competitive economy according to the latest ranking of ‘The Global Competitiveness Index,’ by the World Economic Forum (WEF). The country however ranks at number 45 on the global ladder of 138 countries with a score of 4.49, a step from their ranking last year. …

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