The International Monetary Fund (IMF) has applauded Nigeria’s response to the declining prices of oil just as African finance ministers expressed concern that the slow growth of the Chinese economy will impact negatively on many African countries. Responding to a question at the IMF/World Bank Spring meetings, yesterday, the IMF Managing Director, Christine Lagarde, commended […]
Tag: austerity
South Africa join the austerity fan brigade
While the battle against austerity in Europe has entered a decisive phase — with the election of the radical-left Syriza in Greece — the term is seldom heard with reference to South Africa. Despite this, and the global discrediting of austerity, Finance Minister Nhlanhla Nene’s recent budget can only be described as austere. Austerity refers […]
Austerity advice comes back to Ghana
A policy think tank has called for a law to regulate excessive government borrowing, as Ghana’s public debt stock rose from 48.03 per cent in 2012 to 60.8 per cent in September 2014. The Institute of Economic Affairs (IEA) has warned that if a law is not passed to control undue government borrowing, the West […]