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The government structure was weak enough to allow a meaningful seepage of power and funds so that aid was not delivered and initiatives could not be passed and enforced. The infrastructure of state was thoroughly underdeveloped, meaning that IMF resources could not be distributed throughout the state.
Nigeria joined the IMF on March 30, 1961. [1] Nigeria is Africa's most populous country, with 222.182 million citizens. [1] The nation's IMF quota stands at 2454.5 million (SDR) along with its special drawing rights amounting to 3702.34 million (SDR). [1] As of July 2023, Nigeria experienced a 3.2 GDP change. [2]
Zimbabwe in 2005 was economically torn down, in the midst of serious economic crisis; collapsing currency, de-investment, hunger and droughts, shortages of critical food supplies among others. This dates back to 1990s and early 2000s crisis and Zimbabwe's involvement in the war of Congo. Zimbabwe took a credit from IMF and went to war in Congo.
The International Monetary Fund and World Bank are holding their annual meetings in Africa for the first time in 50 years as they face a growing chorus of criticism that poorer nations are ...
Sub-Saharan Africa is set to record the slowest economic growth of any world region this year as the continent struggles to bounce back from a pandemic-triggered downturn, the International ...
The statement follows an IMF visit to South Africa in early July to conduct a "post-financing assessment" after its $4.3 billion loan to the country in 2020 to help it fight the impact of the ...
Though Mali has had a steadily positive GDP growth rate since 2011 and a large amount of natural gold reserves, its economic and social fragility have caused developmental challenges as ethnic violence and terrorism weaken the government. The IMF projects that Mali will continue to have a GDP growth rate of around 5%, and a contained level of ...
Malawi belongs to Africa Group 1, the IMF's largest constituency, along with 22 other nations. [2] The constituency as a whole yields 2.97 percent of the collective voting power within the fund and is egalitarian, unlike other large constituencies, As of 2017 Maxwell M. Mkwezalamba, Malawi's former Minister of Finance, serves as the constituency's Executive Director, [3] a position that ...