Daily Archives: September 27, 2015

Sub-Saharan Africa Weighing on Travel Industry Growth

Recognizing infrastructure as a catalyst for tourism and hotel construction development, Sub-Saharan African countries embraced travel industry as part of their overall growth strategy. It’s set to spur more economic growth for the continent and directly employ 6.7 million people by 2021, says the World Bank report. read more

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Statement by IMF Mission at the End of a Review Mission to Chad

An International Monetary Fund (IMF) mission led by Mauricio Villafuerte visited N’Djamena from September 16–24, 2015 for the second review of Chad’s financial and economic program supported by the IMF’s Extended Credit Facility (ECF).[1] The Executive Board approved the ECF arrangement for Chad on August 1, 2014 (see Press Release No.14/381). The discussion covered the implementation of the program as well as economic and financial developments in 2015, the outlook for 2016, the medium-term outlook, and the policies needed to consolidate macroeconomic stability and foster inclusive growth.At the conclusion of the mission, Mr. Villafuerte issued the following statement:

“Chad’s overall macroeconomic performance continues to be significantly impacted by the deep decline in oil prices and the deterioration of the security situation, that generates both direct costs from Chad’s key role in maintaining peace and stability in the region, as well as the costs of hosting refugees. read more

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