Daily Archives: May 16, 2017
Growing news across oil exporting countries have been unpleasant. This Monday, Russia and Saudi Arabia announced that they request a nine month OPEC output cut extension. Following that Kuwait and Oman has joined Russia and Saudi Arabia – the two largest producers among the 24 producers who earlier agreed to cut output in 2018 for an extension.
South Africa: Radical economic transformation receives a boost with more than R20m industrial park in Mthatha
Government’s radical economic transformation received a boost with the launch of the Vulindlela Heights Industrial Park in Mthatha, Eastern Cape.
IMF Staff Completes 2017 Article IV Visit to Zimbabwe
- The economy is facing difficulties as a severe drought and slow reform momentum have led to high expenditure levels since late 2015, despite subdued revenues.
- Spending pressures stem from high employment costs, government transfers to support specific economic sectors, and elevated discretionary expenditure.
- The team recommends taking action to unleash the potential of the private sector and ensure that growth benefits the most vulnerable segments of the population.
An International Monetary Fund (IMF) team led by Ana Lucía Coronel visited Zimbabwe from May 2 to 13, 2017, to hold discussions with the national authorities, private sector representatives, and civil society in the context of the 2017 Article IV Consultations. The discussions covered recent economic developments, the outlook and risks, as well as policies that could restore economic stability.