WASHINGTON (Reuters) – As the world’s finance czars clamored this week for decisive action to clean up Europe’s debt crisis, ministers from the planet’s poorest region Africa were quietly saying “been there, done that”.
A weekend briefing by African finance ministers at IMF/World Bank meetings in Washington attracted modest media attention, but there was quiet pride in the way representatives from tiny states like Cape Verde and Gambia were able to claim concrete achievements in managing debt and public finances.
WASHINGTON (Reuters) – Ivory Coast will resume regular repayments on its defaulted $2.3 billion Eurobond next year and will seek a formula to make good on missed coupon payments, Finance Minister Charles Koffi Diby said on Saturday.
The minister, who was in Washington attending IMF/World bank meetings, stressed that the world’s top cocoa grower intended to honor its debt obligations as it worked to get its economy back on course after a post-election conflict.
WASHINGTON, Sept 23 (Reuters) – A global downturn may tone
down the roar of Africa’s bounding “lion” economies, but they
can keep a spring in their step if governments deepen reforms
and maintain prudent policies, the World Bank and IMF say.
Even as World Bank President Robert Zoellick warned of a
“darkening outlook” for developing nations projected by
European and U.S. debt woes, top bank and fund officials sought
to preserve a guarded positive outlook for Sub-Saharan Africa.
WASHINGTON, Sept 21 (Reuters) – The International Monetary
Fund is ready to discuss working with Malawi to try to get its
stalled IMF program back on track, the fund’s vice-president
for Africa Antoinette Sayeh said on Wednesday.
The IMF had approved a 3-year $79.4 million facility for
the small southern African state in February last year but the
program was hit by the government’s initial failure to devalue
the Malawian kwacha and implement public finance management
reforms, among other issues.
WASHINGTON (Reuters) – Developing countries can prepare for the threat of a global recession by improving policies to generate growth and jobs, diversifying economies, bolstering their banking sectors and readying social safety nets, the World Bank’s top economists said on Wednesday.
Bank chief economist and senior vice president Justin Yifu Lin told a round table in Washington that the sentiment in the international economic community had abruptly changed from a feeling of general confidence in global recovery six months ago to “alarming uncertainty” now facing policy-makers.
MIAMI (Reuters) – President Barack Obama should say clearly and publicly the United States will use its veto on the U.N. Security Council to block any Palestinian bid to gain U.N. membership, a senior Republican lawmaker said on Wednesday.
Representative Ileana Ros-Lehtinen, a conservative who chairs the House Foreign Affairs Committee, made the call as Obama’s administration made diplomatic moves to try to head off a Palestinian plan to gain statehood recognition at the U.N. General Assembly session that begins on September 19.
MIAMI, Sept 5 (Reuters) – Hurricane Katia powered up to a
major Category 3 storm on Monday, but was expected to veer away
from the U.S. East Coast later this week, avoiding a direct hit
on a seaboard already battered by earlier Hurricane Irene.
The U.S. National Hurricane Center warned however that U.S.
East Coast beaches should still watch out in the coming week
for large swells generated by Katia which could cause
life-threatening coastal surf and rip currents.
MIAMI (Reuters) – Hurricane Katia may power up to a major Category 3 storm on Monday, but is expected to veer away from the East Coast later this week, avoiding a direct hit on a seaboard already battered by earlier Hurricane Irene.
The National Hurricane Center warned however that U.S. East Coast beaches should still watch out in the coming week for large swells generated by Katia which could cause life-threatening coastal surf and rip currents.
MIAMI (Reuters) – The East Coast is mopping up after Hurricane Irene’s weekend battering that killed around 40 people and authorities and residents are looking out anxiously over the Atlantic and asking: Is another one coming?
Tropical Storm Katia has top winds of 60 miles per hour (95 km per hour) and is jogging west at a brisk 22 mph, the National Hurricane Center said, and it could become a hurricane on Wednesday.
MIAMI (Reuters) – The U.S. East Coast is mopping up after Hurricane Irene’s weekend battering that killed around 40 people and authorities and residents are looking out anxiously over the Atlantic and asking: Is another one coming?
Tropical Storm Katia is jogging west at a brisk 18 miles per hour (30 km per hour) and the U.S. National Hurricane Center says it is expected to become a hurricane by late Wednesday or early Thursday.