Unlocking Africa’s next economy would require new money
Ayotunde Alabi highlights how adopting stablecoins and tokenized assets can help Africa build a modern financial system that drives trade and economic growth.
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.
Kenya fails IMF review, forfeits $850M disbursement
The East African country is now seeking a fresh credit program from the IMF.
Kenya and Namibia join 10 African countries on FATF grey list
This brings the total number of African countries on FATF’s grey list to 12, accounting for approximately 57% of all grey-listed countries.
Nigeria seeks $1.5 billion World Bank loan to ease forex shortage
Nigeria’s Finance Minister added that the country is also looking to tap into the Eurobond market this year if rates fall.
Ethiopia faces challenges as it integrates into BRICS
In December 2023, Ethiopia informed its bondholders that it would not be able to make a $33 million repayment on its $1 billion Eurobond loan.
IMF approves Kenya’s financial package of $941 million
A staff-level agreement follows the approval of the IMF loan to Kenya in November 2023.
IMF set to review Ghana’s second loan payout of $600 million on Friday
Once the date for a meeting has been set, it is expected that the necessary approval will be granted.