ECONOMY

Nigeria has faced oil production shortages due to crude theft in recent years, though production has started to recover.

According to the Reserve Bank, the recurring power outages in South Africa are anticipated to reduce economic growth.

Zambia's total external debt stood at $17 billion as of June last year, government data shows.

While the overlap was coincidental, the two will meet informally while in Lusaka, a Treasury official said.

Kenya's central bank expects the Kenyan economy to grow 6.2% this year, Njoroge said, and does not expect a potential global recession to be "unmanageable".

The governor argues that the SARB's mission to modernization is furthered by its decision to accept and prepare for digital currencies.

The core inflation rate also slightly decreased in December 2022 from 5.0 percent to 4.9 percent.

The 38-year-old widow runs a stall called a "cookery" -- the cheapest option for many Sierra Leoneans to grab what is often their only meal of the day.

The South African Reserve Bank has repeatedly said that increasing economic output and job creation are outside of its purview and that the poor will suffer the most if inflation is not controlled.

Tunisia, struggling under debt worth nearly 90 percent of its Gross Domestic Product, reached an agreement in principle with the global lender in mid-October for a bailout package worth around $2 billion.

The cash-strapped North African country is battling 10 percent inflation alongside slow growth, high unemployment and shortages of basic goods, exacerbated by the Covid pandemic and the war in Ukraine.

The new year is going to be "tougher than the year we leave behind," IMF Managing Director Kristalina Georgieva said on the CBS Sunday morning news program "Face the Nation."

The Economy Ministry said on Friday that economic growth in 2023 would be 1.8%, compared with 2.5% expected this year.

The ministry also announced a change to the debt exchange, with eight additional instruments to be created.

Street trading is illegal in Zimbabwe and the traders hope by setting up under cover of darkness they can avoid being spotted by police.

Kenya struggles to feed its population of 55 million and has consistently had an annual deficit of 10 million bags of the maize staple.

External debt servicing for Sub-Saharan African countries rated by Fitch, excluding default-stricken Zambia and Ghana, will rise to $22.3 billion in 2023, up from $21.4 billion in 2022, the ratings agency said in a report.

Annual consumer price inflation in Africa's most industrial economy has been gradually easing since striking a 13-year high of 7.8% in July, showing further signs of cooling as it is in other parts of the world.

Ghana signed a $3 billion bailout deal with the International Monetary Fund on Tuesday in a bid to shore up public finances, but economic stability is still a way off.

Ghana's determination not to seek the fund's help for a 17th time crumbled in July after soaring inflation spurred widespread street protests.

Wheat, corn and palm oil futures have from dropped from record or multi-year highs but prices in the retail market remain elevated and tight supplies are forecast to support prices in 2023.

The IMF said Ghana's government had committed to "a wide-ranging economic reform program" that will restore stability and debt sustainability.

Some groups representing financials institutions that hold Ghana's debt have raised concerns that the restructuring as presented by the finance ministry would not work.

Gross domestic product (GDP) expanded by 1.6 percent in the three months to September, following a 0.7 dip in the previous trimester, StatsSA said.

Like other smaller, riskier emerging market countries including Sri Lanka and Zambia, Ghana faces a debt overhaul after its already strained finances buckled under the economic fallout from COVID-19 and Russia's invasion of Ukraine.

Pazarbasioglu welcomed China's participation in a debt treatment package for Chad, the first country to complete the process under the Common Framework set up in late 2020 by the Group of 20 major economies.

Illegal mining is thriving in South Africa owing to the high unemployment rate, rising operational costs, and dwarfing supply.

IMF Managing Director Kristalina Georgieva, speaking after a meeting with German Chancellor Olaf Scholz, said globalization was facing its biggest challenge since World War Two in the wake of the COVID-19 pandemic and Russia's war in Ukraine.

Reynders, who met with Twitter representatives at the social media platform's European headquarters in Dublin, sought clarifications from the company, a European Commission official told Reuters.