Africa Matters

IMF Urges Policy Reforms to Unlock Potential of Africa’s Informal Economy

By Edson Baraukwa | Africa Guardian The informal sector has become a vital part of the African economy, contributing significantly to employment across the continent. The International Monetary Fund (IMF) has emphasized the importance of reforming this sector to address Africa’s growing unemployment challenges. While informal jobs—such as street vendors, small-scale farmers, craftsmen, and independent tradesmen—offer flexible employment options…

Read More

How to finance Africa’s future economic development

The current global financial architecture faces significant challenges in addressing the financial needs for climate action, sustainable development, and debt management. The calls for reform are growing louder, seeking to create a more equitable, inclusive, and sustainable financial system. Increasing the representation of developing countries, particularly African nations, in global economic decision-making processes is crucial for the continent’s development…

Read More

IMF, World Bank hold first meetings in Africa in 50 years

The IMF and World Bank gather in Morocco Monday for their first annual meetings on African soil in 50 years, under pressure to reform to better aid poor nations blighted by debt and climate change. The International Monetary Fund and World Bank traditionally hold their annual gathering of finance ministers and central bank governors outside their Washington headquarters every…

Read More

IMF praises Tanzania’s compliance with economic reform plan

The International Monetary Fund (IMF) Deputy Managing Director Bo Li has concluded his visit to Tanzania with a firm commitment towards supporting the country’s efforts in unlocking its development potential. Mr Bo applauded the Tanzanian authorities’ efforts in implementing the country’s economic reform agenda. “I commended the authorities’ commitment to preserving Tanzania’s macroeconomic stability in a challenging global environment,”…

Read More

See reason why Tanzania is set to overtake Kenya as East Africa’s second largest economy

As presently constructed, Kenya stands as East Africa’s second largest economy in terms of overall GDP, second only to Ethiopia. However, Kenya’s spot as the subcontinent’s second largest economy could change within the next decade owing to the rate at which East Africa’s 3rd largest economy, Tanzania is growing. This prediction is based on a report issued by the…

Read More

Fuel prices fall in Tanzania as $43m subsidy comes into effect

Summary According to the Energy and Water Utilities Regulatory Authority (EWURA), effective Wednesday, the retail price for petrol is Tsh2,994 ($1.28) from 3,303 ($1.42) per litre, diesel Tsh3,126 ($1.34) down from Tsh3,452 ($1.48) per litre, while kerosene prices remain unchanged. Tanzania has reduced the cost of fuel effective Wednesday following the Tsh100 billion ($43 million) fuel subsidy the government…

Read More

Samia: How Tanzania used IMF, AfDB loans to improve livelihoods

Summary Tanzania’s economy shrunk from 6.8 percent growth to 4 percent after Covid-19, even though the country, unlike its neighbours, did not go on a lockdown and did not initially order compulsory mask wearing, nor tap into vaccines. President Samia Suluhu Hassan has defended her usage of loans from multilateral lenders, telling an audience in Accra that the institutions…

Read More