The call for a Marshall Plan to lift Africa out of economic doldrums is a rising tide that may culminate in massive push concerning Africa, the World Bank said here Monday.
Namibia's inflation surged to 7.1 percent in May from 6.9 percent the previous month stoked by rising prices of crude oil and food amidst indications that the central bank would again raise its main bank rate in August.
The World Bank supports efforts at attaining the full economic integration of Africa, a key pre-requisite in the continent's quest to achieve a continental government, the bank's Vice President for Africa, Obiageli Ezekwesili, said here Monday.
The World Bank announced Mon day that it provided a record US$5.7 billion in credits and grants to Sub-Saharan Africa in the fiscal year ending 30 June 2007, up from US$4.7 billion in fiscal 2006.
The Executive Secretary of the UN Economic Commission for Africa (ECA), Abdoulie Janneh, has described as "most timely" the planned debate on the union government in Africa during the African Union (AU) summit in Accra, Ghana, 1-3 July 2007.
After helping Benin maintain macroeconomic stability since 2003, the World Bank Friday said it was directing its support to the West African country's new strategy for growth and poverty reduction.
The Zimbabwe government Tuesday introduced price control on a range of basic commodities, amid sharp price escalations fuelled by galloping inflation of more than 4,500 percent.
Louis Michel, European Union Commissioner for Development and Humanitarian Aid, has called on Africa to seek mutually beneficially partnership with Europe in trade and investment for a win-win situation for the two continents.
Ghanaian Trade and Industry Minister Alan Kyerematen, has called on African, Caribbean and Pacific (ACP) countries to ask for a World Trade Organisation (WTO) waiver to avoid signing an unfavourable Economic Partnership Agreements (EPAs) with the European Union (EU) by the 31 December deadline this year.
The manufacturing sector in Zimbabwe, one of the biggest contributors to gross domestic product, declined seven percent last year, the Confederation of Zimbabwe Industries (CZI), reported here Thursday.
