East African countries that have made major gas discoveries need to set up institutional frameworks to manage their new-found wealth effectively and use it to diversify their economies, a senior World Bank official said Thursday.
The east African (...)
A UAE businessman has denied allegations in a US cable that he offered gifts to Tanzanian President Jakaya Kikwete as well as donating $1 million to the ruling party in exchange for investment deals in the east African country.
The managing (...)
The International Monetary Fund warned on Tuesday that the world economy will likely contract this year in a “Great Recession” and African leaders said the financial crisis could undo hard-won social-economic gains.
“The IMF expects global growth (...)
IMF chief Dominique Strauss-Kahn told Africans on Monday the Fund's policy advice had not always been right, and promised more streamlined lending practices as economic crisis forces more countries to seek help.
Addressing students at the (...)
