News & Analysis: IMF

IMF Approves KSh 257 Billion Financing Package Loan to Kenya

“Kenya’s debt remains sustainable, although it is at high risk of debt distress, according to the IMF.”

via Tuko

IMF Board approves $174m COVID-19 emergency funds for South Sudan

“The disbursement will help finance South Sudan’s urgent balance of payments needs and provide critical fiscal space to maintain poverty-reducing and growth-enhancing spending.”

via The East African

IMF COVID-19 Emergency Loans: A View from Four Countries

“An in-depth analysis of Cameroon, Ecuador, Egypt and Nigeria and found mixed results in meeting the IMF’s transparency commitments. There remained inconsistencies in the types of measures to which governments committed, their implementation, and the role of the IMF in ensuring compliance. The transparency commitments in the emergency loans spurred all four governments to produce information about their spending and contracts that they would have otherwise not published. However, the amount, accessibility, and quality of the disclosed information varied widely and was inadequate for meaningful oversight for any of the four countries.”

via Transparency International

Africa’s Crisis Recovery Requires Upgrading the Global Financial Safety Net

“Critically, the World Bank and other multilateral development banks should commit to make greater and enhanced use of guarantees and other risk management instruments to help African countries lower borrowing and project implementation costs.”

via Center for Global Development

Sir Paul Collier: Rethinking Roles and Responsibilities for Africa’s Economic Recovery

Oxford Professor, Sir Paul Collier, discusses the macroeconomic shocks suffered by African economies and the approach needed to accelerate the recovery.

via COVID-19 Africa Watch

When Special Drawing Rights Aren’t So Special

“In the post-pandemic period, African governments will need to invest even more in expanded digital access, climate resilience, and green growth. Given these needs, a standard SDR allocation will not be nearly enough to alleviate Africa’s current plight.”

via Project Syndicate

Cameroon: Is an economic rebound possible in 2021?

“Despite receiving support from international institutions, Yaounde recorded its worst economic performance in two decades.”

via The Africa Report

Memo to Leaders: Three ‘no regret’ decisions for financing Africa’s post-COVID-19 future

To contain the economic damage of the pandemic and capitalize on the region’s underlying strengths, national and international leaders need to pursue urgent action.

via COVID-19 Africa Watch

Managing COVID-19’s Impact on Africa’s Sovereign Debt: An Interview with Danny Leipziger

COVID-19 Africa Watch talks to Danny Leipziger, Professor of International Business at the George Washington University, about debt and debt relief amid the ongoing coronavirus pandemic.

via COVID-19 Africa Watch

Huge borrowing, COVID-19 shocks, leave region in a funding dilemma

“Excessive borrowing prior to the pandemic pushed countries closer to the debt ceiling with debt-to-GDP ratios now exceeding 50 percent. This leaves little room for external borrowing as the year starts.”

via The East African