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A London high court has announced a global asset freeze targeting Onecoin’s co-founder Ruja Ignatova and associates. Over 400 investors sought this legal action after losing millions in the Onecoin…
The International Monetary Fund (IMF) has reported progress in negotiations with El Salvador on policies to strengthen public finances, boost bank reserves, improve governance, and address bitcoin risks. Although many…
The Nigerian government has been urged to abandon a floating foreign exchange system and reintroduce subsidies in the power and energy, agriculture, and transportation sectors. In a communique, the Multidisciplinary…
Nigeria’s central bank digital currency, known as the eNaira, was the first of its kind in Africa. However, it currently represents only about 0.36% of the total currency in circulation.…
Ethiopia’s birr plunged 30% against the dollar after the central bank floated the currency as part of reforms aimed at correcting foreign exchange market distortions. The bank also eliminated foreign…
The Bank of Zambia has defended its de-dollarization plans but also seeks input from stakeholders who oppose the proposal. The central bank governor clarified that they are not proposing anything…
The World Bank Executive Director for Russia forecasts that BRICS nations will soon dominate the World Bank and the International Monetary Fund (IMF), attributing this shift to inevitable macroeconomic and…
An International Monetary Fund representative has cautioned that Zambia’s proposed dedollarization initiative may inadvertently undermine efforts to contain inflation. The representative expressed concern that the prevailing economic conditions in Zambia…
The latest International Monetary Fund (IMF) Artificial Intelligence Preparedness Index reveals that only seven African countries have preparedness indices of 0.4 or more. South Africa leads the continent with a…
The International Monetary Fund (IMF) has advised the U.S. to improve its fiscal position by reducing spending and increasing revenues. The IMF emphasizes addressing rising debt through policy adjustments and…