economy

Economic growth to accelerate in Africa but challenges remain

Economic growth in Africa is expected to accelerate to 4.2 per cent in 2016 following a disappointing performance last year.

Overall global growth is forecast at just under 3 per cent.

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World Bank downgrades global growth in 2016; cites slowdown in major emerging economies

Global growth disappointed again in 2015 – slowing to 2.4 per cent – and is expected to recover at a slower pace than previously envisioned, the World Bank Group said today in a new report, which also warned that a broad-based slowdown across developing countries could pose a threat to hard-won gains in raising people out of poverty.

World economic growth falls below last forecast, only modest improvement foreseen – UN

The world economy has fallen below forecasts of even six months ago and will grow only modestly over the next two years due to “cyclical and structural headwinds,” including low commodity prices and stagnant investment, the United Nations reported today, urging steps to ensure stronger growth.

Development in the Sahel is slowing

The development of countries in the Sahel region is slowing due to radicalization, youth unemployment and the lack of participation by women in politics and the economy.

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Syria refugees in Lebanon caught in debt cycle

Nearly 90 per cent of the over one million Syrian refugees in Lebanon are caught in a vicious debt cycle, according to the UN.

The almost five-year-long civil war in Syria has driven millions of people to find refuge in neighbouring countries like Lebanon.

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“Climate irresponsibility” could wreck economic growth

“Climate irresponsibility” could undermine economic growth, but there’s still time to act.

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Cuba tourism expected to grow with thawing of US relations

Cuba has been out of bounds for American tourists for more than 50 years due to the US embargo on the Caribbean country, but the number of US visitors is set to grow according to International Monetary Fund (IMF).

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SDGs “can be achieved with right financing”

Ambitious new global development goals are due to be finalized by UN Member States in New York this week and while the principles have been agreed, what’s less clear is how to find the billions of dollars that are needed to pay for them.

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Somali economy “growing rapidly”

Somalia’s economy is on track to grow 2.7 per cent in 2015, according to the first review of the nation’s economic well-being in 26 years.

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Major food commodity prices down in May

The price of food commodities fell in May hitting the lowest level since September 2009, according to the Food and Agriculture Organization, FAO.

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