Tag Archive for: Inflation
Mayor’s Private Sector Conference
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Lack of cash crumbling business activities, livelihood in Nigeria
News, News ArticleAfrica’s most populous country Nigeria has withdrawn 200-, 500- and 1000-naira notes from circulation following the redesign of the Nigerian currency.
On 26 October 2022, Nigeria's Apex bank the central bank of Nigeria CBN announced the i…
East African Community inches towards financial integration
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In December, the East African Legislative Assembly (EALA) passed a bill establishing the East African Financial Services Commission (EAFSC), one of the key steps on the road to achieving regional monetary union.
The EAFSC will work to…
ECOWAS parliament speaker links dollars for regional trade to inflation, seeks adoption of common currency
News, News ArticleThe Speaker of the Parliament of Economic Community of West African States (ECOWAS) Dr. Sidie Tunis has called for more political commitment towards the adoption of the ECOWAS common current, while blaming inflation in the region on the use…
African Blocs Discuss Challenges to Realizing Single Currency Territories
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Africa’s main regional economic blocs say monetary unions will raise the value of trade and shield them from fluctuating exchange rates and are pushing to establish single currency territories.
Gathering in Nairobi under the African U…
Rich Kenyans sit on Sh922bn in dollars as shilling weakens
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Wealthy Kenyans and firms had piled up a record Sh922 billion in dollars by last November as they sought to preserve the value of their bank deposits amid a depreciating shilling.
This is after they accumulated an extra Sh119.24 billion…
Nigeria Restricts Cash Withdrawal to $44 a Week Per Individual
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Nigeria has officially restricted massive cash withdrawals from the bank beginning Monday the 9th January in an effort to cool off inflation.
Nigerians will only be allowed to withdraw 44 dollars per week per individual and $11,000 for…
Egypt’s Pound Drops to Record Low Against the Dollar
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Egypt devalued the pound in October but it's not let it float freely against the US dollar - which is a condition of IMF loans.
In any case the new three billion dollars IMF loan does not significantly help - Egypt’s debt servicing a…
Sierra Leone: Gas Shortages Forces Taxi Drivers to Turn to Black Market
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Long queues are still being experienced at major petrol stations in Sierra Leone as the west African country grapples with high gas prices and scarcity.
The gas prices have nearly doubled compared to the previous year to 1.14 USD.
"If…
Impact of Rising Inflation on Workers Across Globe
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Inflation isn't impacting people equally, though, and for those with dependents, the higher prices are pinching families at home and abroad.
Migrant workers and people who send money to relatives abroad are often saving less because…
Inflation Hits 65-Month High as Subsidies End
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Kenya’s cost-of-living measure hit a 65-month high in President William Ruto’s first full month in office on the back of runaway food prices, fuel as well as home equipment and appliances, the statistics agency reported Monday.
Inflation — a…