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    Support Ghana’s efforts to restore debt sustainability – IMF to bilateral creditors

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    China to seek proper resolution with Ghana over $1.7bn debt

    GSE signs MoU with MIIF to increase listing of mining companies

    Ghana Best Cocoa Farmers Association lauds COCOBOD boss

    Consider cocoa pricing in your legislation – COCOBOD CEO to EU

    Fitch upgrades Ghana’s Long-term local-currency IDR from ‘RD’ to ‘CCC

    Producer Price Inflation drops to 50.8% in February 2023

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    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

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    Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors

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East Africa:IMF paints bleak picture for struggling Burundi

bycitibusinessnews
April 20, 2017
in Africa, East Africa
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The International Monetary Fund has slashed its projection for Burundi’s economic growth this year to nil and projected just 0.1 percent in 2018.

It gave no specific reason for the 2017 revision from 2 percent, but Burundi has been suffering from a severe drought like much of the wider region.

The poor, central African nation’s economy has also been battered by almost two years of political instability triggered by President Pierre Nkurunziza’s decision to seek a third term.

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He secured re-election in July 2015 but some of his opponents who insist extension of his rule violated the country’s constitution

The government has said it expects the economy to expand by 2.9 percent this year after shrinking in 2016.

But continuing instability has forced Burundi to rely on modest revenues from coffee and tea exports for foreign exchange after some western donors who blame the government for not acting to end the violence suspended aid.

–

Credit: CNBC Africa

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