Uganda becomes Kenya’s fastest-growing source of diaspora remittance
With the Kenyan shilling depreciating, Kenyans in Uganda are finding it more profitable to send money home.
State of fiat
Your fiat money is backed by the issuing government’s “full faith and credit.” What’s that worth these days?
State of fiat informs about the situation of your local currency.
Nigeria’s new economic reforms an opportunity to achieve growth — World Bank
However, the bank advised that measures must be put in place to protect low-income households.
IMF set to decide on Zambia's extended credit facility
Upon board approval for the first review of the ECF arrangement, Zambia is expected to receive $188 million from the IMF.
Tanzanian central bank calls for the de-dollarization of local market
The government banned the use of USD in August 2007 and again in December 2017.
Ghana’s economy shows signs of improvement, but debt restructuring is crucial — IMF
The global lender reiterated that the country needs to restructure its debt profile to fully enjoy the benefits of the IMF’s bailout.
Egypt explores BRICS membership, plans to ditch US dollar for trade with BRICS nations
The country seeks to conduct international trade in the local currencies of BRICS countries.
Bank of Tanzania admits to dollar shortages but claims it's not a crisis
Foreign exchange reserves had decreased to $4.9 billion by May 2023 from $5.5 billion in May 2022.