Daily Archives: October 18, 2017
News of the revocation of economic sanctions against Sudan by the United States government is music to the ears of businesses and investors interested in Africa’s third largest country after two decades of severe restrictions.
- IMF staff and Guinean authorities have reached a staff-level agreement on a program of economic policies and reforms that could be supported by an Extended Credit Facility (ECF) arrangement.
- The program will support Guinea’s 2016–20 National Social and Economic Development Plan to foster higher and more broad-based growth, and reduce poverty while maintaining macroeconomic stability and debt sustainability.
- A prudent borrowing strategy that aims at maximizing the concessionality of external loans will be key to preserve medium-term debt sustainability.
Following discussions between the Guinean authorities and IMF staff in Conakry from July 31-August 15, 2017 and during the 2017 Annual Meetings in Washington in October 2017, a staff-level agreement was reached on a program of economic policies and reforms that could be supported by an Extended Credit Facility (ECF) arrangement. Subject to IMF management approval, the staff-level agreement is expected to be submitted to the IMF Executive Board for its consideration in November 2017.
The United Nations Convention on Transparency in Treaty-based Investor-State Arbitration enters into force today
The United Nations Convention in Transparency in Treaty-based Investor-State Arbitration (“The Mauritius Convention on Transparency”) will enter into force today, 18 October 2017. The Convention has to date been ratified by Canada, Mauritius and Switzerland. None of the ratifying States made reservations and, as a result, the Transparency Rules are now part of the investor-State dispute settlement regime created by investment treaties concluded by those three States. Consequently, the Transparency Rules will apply to investor-State disputes arising under investment treaties concluded by those States before April 2014 in accordance with the conditions set forth in the Transparency Convention and the relevant investment treaties.