IMF warns of African economic slowdown

Economic growth in sub-Saharan Africa remains strong, but is expected to slow for a second successive year in 2015 in the face of declining commodity prices and the Ebola epidemic, the International Monetary Fund (IMF) said on Tuesday.

>The International Monetary Fund was launched in 1944 with the world’s new superpower, the United States, in position as the key force and shareholder in the global crisis bank.Today, China is on the verge of becoming the world’s largest economy.

Amid reports that the State has been borrowing heavily in recent years to finance its operations, the International Monetary Fund (IMF) yesterday warned the government on the dangers of this tendency.

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Zimbabwe's President, Robert Mugabe, has been leading celebrations at the National Heroes Day parade, which commemorates the lives of those who died opposing British colonial rule.

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Constitutions of many African countries do not focus on enhancing economic development, but rather base on division of power, a veteran politician and member of the Constituent Assembly, Mr Kingunge Ngombale-Mwiru, has said.

The UN has warned that bloodshed in the Central African Republic could turn into genocide as horrors continue to unfold in the country where parliament is preparing to choose a new leader.

Business executives in East Africa are optimistic about the regional economy despite insecurity in Kenya and weakening currencies, a new survey indicates.