
Ghana asks Afreximbank to discuss debt treatment
ACCRA, May 29 (Reuters) - Ghana asked Afreximbank to sit down for debt treatment talks with the gold producing nation and its advisors in a letter sent last week by the finance minister and seen on Thursday by Reuters.
"The objective of these discussions is to identify debt treatment solutions that are acceptable to Afreximbank, while ensuring that Ghana complies with the debt sustainability parameters of the IMF programme and the Comparability of Treatment principle as assessed by the (Official Creditor Committee)," Finance Minister Cassiel Ato Forson wrote in the letter dated May 21.
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Reuters
12 hours ago
- Reuters
IMF to provide Ukraine with $500 million after review
June 30 (Reuters) - The International Monetary Fund said on Monday it has completed its eighth review under an extended arrangement as part of the Extended Fund Facility for Ukraine, providing the country with a disbursement of about $500 million (SDR 0.37 billion). Total disbursements under the IMF-supported program for Ukraine will reach $10.6 billion with the new $500 million which will be channeled for budget support, the fund said. IMF said that it maintains Ukraine's 2025 growth forecast at 2%-3%, as a smaller electricity deficit is balanced by lower gas production and weaker agricultural exports. "Russia's war continues to take a devastating social and economic toll on Ukraine. Nevertheless, macroeconomic stability has been preserved through skillful policymaking as well as substantial external support" the first deputy managing director of the fund Gita Gopinath said. "The economy has remained resilient, but the war is weighing on the outlook, with growth tempered by labor market strains and damage to energy infrastructure," Gopinath added. Ukrainian authorities are continuing work to complete their debt restructuring strategy, which is essential to create room for priority expenditures, reduce fiscal risks, and restore debt sustainability, the IMF said.


BBC News
13 hours ago
- BBC News
How far Nigeria don reach to change Donald Trump ban bifor di 60 days deadline?
Recently, President Donald Trump administration don announce say dem go soon enforce rules wey go block citizens from Nigeria, Ghana and 34 oda nations from entering di United States, even if dem get valid visa or to stay back afta di 60 days grace period afta di termination of appointment. Dis new directive of travel wey dem dey currently dey refine dey set to become policy as e dey come from renewed executive order wey dem do to tighten American national security. Kontris wey dey affected Di list of possible kontris wey fit dey affected: Nigeria, Ghana, Niger, Senegal, Republic of Benin, Burkina Faso, Cameroon, Ivory Coast, Egypt, Gabon, Tanzania, Gambia, Ethiopia, Malawi, Liberia, South Sudan, Angola, Antigua and Barbuda, Bhutan, Cambodia, Cape Verde, the Democratic Republic of Congo, Djibouti, Dominica, Kyrgyzstan, Mauritania, St. Kitts and Nevis, St. Lucia, São Tomé and Príncipe, Syria, Tonga, Tuvalu, Uganda, Vanuatu, Zambia and Zimbabwe. Why di deadline and possible ban? Di sweeping 60 days travel ban deadline dey come from renewed executive order wey dem do to tighten national security and as necessary crack down by say dem restrict migration from kontris wey dem flag say dem no get beta identity verification systems; visa overstays; potential national risks; or suspected links to terrorism. Dem give di 60 day deadline to di goments of dis targeted kontris and e instruct dem make dem submit wetin dem call actionable remediation plans to address security and documentation wahala ova dia illegal immigrants wey dey live for America. Dis also add to di grace period wey dem give non-immigrant workers wey dem don sack or wey by demsefs decide to resign from dia work for America. Di grace period according to di USCIS wey dey in charge of immigration wahala for America na optional regulatory provision wey allow some eligible non-immigrant workers wey get dis visas: H-1B; E-1; E-2; E-3; L-1; H-1B1; 0-1 and TN to still stay for di United States while dem dey file to change to anoda non-immigrant visa. How Nigeria goment dey handle di mata? Nigeria Minister of Foreign Affairs and Chair of di ECOWAS Mediation and Security Council, Ambassador Yusuf Tuggar don tok say e dey worry ova how dis new wave of US visa restrictions fit affect African kontris and Nigeria in particular. E say di ministry dey work hard on any of di commas wey dem find for screening, vetting or taking back of citizens as di cable tok. Oga Alkassim Abdul Kadir wey be di special assistant on media and communication to di minister of foreign affairs also explain give di BBC say di diplomatic cable wey di US Department of State send bin tell embassies and consulates for dis kontris to judge dia host kontris by dia willingness to improve dia citizens travel documentation and take steps to address di status of dia nationals wey dey for America illegally. Di Nigerian goment don collabo wit di necessary bodies to address di mata. How Ecowas react to di possibility say dem fit ban dem Oga Tuggar wey tok on behalf of Ecowas kontris about di mata for di 54th Ordinary Session of di Ecowas Mediation and Security Council for Abuja, Nigeria; warn say if President Trump ban dem las-las e go block trade, diplomatic engagement and regional growth well-well. E say, "e go dey unfortunate if e come to pass becos we be region of opportunities wey readi to do deals". Oga Tuggar say di policy dey more like diplomatic misstep as e torchlight how e fit cast economic collabo for time wen West Africa dey positioned for global partnerships. E note say "we get critical minerals and even rare earth like Samarium from di Monazite wey dem find for my home state of Bauchi". E also add say, "we for dis part of di world na students for di Art of di Deal and we don dey part of di international trading system even bifor di modern state system". Di foreign affairs minister follow appeal to di United States make dem rethink dis move say di region get oda options. E say "Ecowas kontris and di US get rare opportunity to create partnership based on need. We also be beta option to more distant and politically different energy producers." E add say, "we go do deals to prosper, di only question na wit who? Who go collect di opportunities for our region by allowing goment officials, and technocrats, business executives and business pipo to travel freely to go come back so dem go fit close deals." Till now, world pipo still dey wait for di deadline to finish so dem go know which kontris President Trump administration go partially or completely ban as dem don plan am.


BBC News
21 hours ago
- BBC News
Togo protests against Faure Gnassingbé leave seven dead in Lomé
Civic rights groups say at least seven people have been killed during a crackdown on protesters who are calling for Togo's leader, Faure Gnassingbé, to step down and release political say dozens more people were injured - some comes weeks after Gnassingbé - who was president for two decades and whose family has ruled the country for 58 years - was sworn into a new post of President of the Council of Ministers, which has no official term Togolese government has now threatened legal action against the protest organisers, describing the demonstrations as a "campaign of disinformation and hatred" that was orchestrated from abroad. Demonstrations have been banned in the West African country since 2022, with the authorities citing "security reasons".Three days of demonstrations by online activists and youth-led movements began in the capital, Lomé, on Thursday, before taking a violent turn on Friday and gas was fired by anti-riot police at protesters, who pelted them with stones and other determined anti-government protesters engaged security forces in street battles in several areas considered to be opposition strongholds, including Bè, where police chased demonstrators into their hideouts.A coalition of 23 Togolese civil rights groups - known as the "National Platform for Civic Space and Development Effectiveness" - has asked the authorities to carry out investigations into the bloody police condemned what they described as "the use of disproportionate force against peaceful demonstrators", adding that "peaceful protest is a fundamental right, recognized both by the Togolese Constitution and by international instruments ratified by our country".By Sunday calm had returned to most of Lomé, with shops reopened at the main central market at Assigamé and businesses operating as recent change of regime orchestrated by the Togolese leader continues to fuel resentment. In addition to the new post which he can keep for life, constitutional reform in Togo has ended presidential elections, and introduced a parliamentary month's arrest and psychiatric detention of the Togolese rapper Narcisse Essowè Tchalla, also known as Aamron, acted as a catalyst for public outrage, culminating in over 50 arrests during protests earlier this month. Though most have been released, at least three people remain in custody. You may also be interested in: New post for Togo leader could see him rule for lifeKenya protests are 'coup attempt', says ministerDisbelief as Nigeria urges prayer to end food shortages Go to for more news from the African us on Twitter @BBCAfrica, on Facebook at BBC Africa or on Instagram at bbcafrica