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Category: Markets
Ghana's Inflation Rate Rises to 21.5% in September, Ending Five-Month Decline
02/10/2024
Joshua Worlasi Amlanu
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ExxonMobil Transfers Equatorial Guinea Assets to GEPetrol, Ending Decades of Operations
02/10/2024
Dulue Mbachu
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Fresh Abduction in Southwestern Cameroon Could Slow Cross-Border Trade with Nigeria
02/10/2024
Amindeh Blaise Atabong
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Oman Opens New Oil and Gas Concession Area Amid Push for Energy Expansion
01/10/2024
George Charles Darley-Doran
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Nigeria Secures $1.57bn World Bank Loans for Social Services, Climate Change
01/10/2024
Vincent Nwanma
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ADQ’s Second $2 Billion Bond Issue Over-Subscribed by 4.1 Times
01/10/2024
George Charles Darley-Doran
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Saudi Arabia's FDI Stagnation Raises Concerns Over Vision 2030 Funding
01/10/2024
George Charles Darley-Doran
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Zambia Sets K217 Billion ($8.4 Billion) 2025 Budget with 6.6% Growth Target
01/10/2024
Kennedy Mupeseni
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Saudi Arabia Moves Ahead with 4,500 MW Renewable Energy Projects in Sixth Round
30/09/2024
George Charles Darley-Doran
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CBK Returns to Market with Ksh30 Billion Bond Auction Amid Investor Caution
30/09/2024
Herald Aloo
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Nigeria’s One-Year OMO 32% Yield May Dampen Real-Sector Activities
30/09/2024
Vincent Nwanma
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BEAC Projects Inflation to Ease to 3% by 2025 After Hitting Three-Year High
30/09/2024
Amindeh Blaise Atabong
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Nigerian Commercial Paper Rates Poised to Surge Following Central Bank Hike
30/09/2024
Dulue Mbachu
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Côte d'Ivoire Raises $250 Million in Successful WAMU Public Debt Operation
27/09/2024
Kingsley Kobo
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Angola Begins Privatisation of 30% Stake in Largest Insurer ENSA
27/09/2024
Agostinho Gayeta
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Bank of Ghana Cuts Policy Rate by 200 Basis Points to 27%
27/09/2024
Joshua Worlasi Amlanu
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KETRACO Seeks 36% Revenue Slash in Adani Power Deal to Curb Electricity Costs
27/09/2024
Herald Aloo
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Tanzania Secures $129 Million AfDB Loan to Modernise Agriculture
27/09/2024
Dulue Mbachu
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Angola to Sell 4 Gigawatts of Surplus Electricity to Boost Economy by 2027
26/09/2024
Agostinho Gayeta
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Nigeria to Revive Two Stalled LNG Projects as European Demand Grows
26/09/2024
Dulue Mbachu
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Saudi Aramco to Issue Shariah-Compliant Sukuk to Support Strategic Initiatives
26/09/2024
George Charles Darley-Doran
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World Bank Urges Zambia to Enhance Revenue Mobilisation and Fiscal Governance
26/09/2024
Kennedy Mupeseni
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Angolan President to Host U.S. President Biden for Historic Visit
25/09/2024
Agostinho Gayeta
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Asante Gold Raises C$136 Million in Strategic Equity Financing
25/09/2024
Joshua Worlasi Amlanu
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Russia to Build Petroleum Pipeline in Republic of Congo
25/09/2024
Acutel
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Raxio Group Launches Côte d’Ivoire’s First Tier III Carrier-Neutral Data Centre
25/09/2024
Vincent Nwanma
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Kenya’s High Court Strikes Down Privatisation Act 2023
25/09/2024
Herald Aloo
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Tanzanian Police Arrest Opposition Leaders Amid Protest Crackdown
25/09/2024
Acutel
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Nigeria’s Central Bank Hikes Benchmark Rate to 27.25% as Inflationary Pressures Persist
24/09/2024
Dulue Mbachu
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Qatar’s Commercial Bank Issues Largest CHF-Denominated Green Bond in the CEEMEA Region
24/09/2024
George Charles Darley-Doran
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Cameroon Suspends Mining Activities Involving Chinese Companies
24/09/2024
Amindeh Blaise Atabong
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Stanbic Bank Kenya Enters Unit Trust Market with New Investment Funds
24/09/2024
Acutel
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Foreign Workers’ Remittances from Saudi Arabia Rise 21% in July, Hit $3.44 Billion
24/09/2024
George Charles Darley-Doran
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Ghana Begins Third IMF Review as Macroeconomic Reforms Progress
24/09/2024
Joshua Worlasi Amlanu
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Burkina Faso Takes Partial Control of Major Gold Mines Amidst Insecurity
24/09/2024
Zombre Oumar
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Fed's Rate Cut Expected to Boost African Markets
23/09/2024
Vincent Nwanma
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Saudi Arabia's Fee Waiver for Foreign Workers Spurs Industrial Growth
23/09/2024
George Charles Darley-Doran
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Saudi Arabia Leads G20 in Tourism Growth with 73% Surge in Foreign Visitors
23/09/2024
George Charles Darley-Doran
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Ethio Telecom Targets 83 Million Users with $1.41 Billion Investment in Expansion
23/09/2024
Michael Masrie
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Ghana Seeks New Investors to Revive FGR Bogoso Prestea Mines
20/09/2024
Emmanuel Bruce
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Coca-Cola Pledges $1 Billion Investment in Nigeria Over Five Years
20/09/2024
Dulue Mbachu
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Saudi Arabia Secures Major Fleet Decarbonisation Deals at Riyadh EV Auto Show
20/09/2024
George Charles Darley-Doran
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Heavy Rains Threaten Nigeria’s Cocoa Crop as Fungal Disease Looms
20/09/2024
Dulue Mbachu
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Ethiopia Set to Launch First Stock Exchange in Over 40 Years
20/09/2024
Michael Masrie
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Kuwait Central Bank Lowers Discount Rate by 25 Basis Points Amid Easing Inflation
19/09/2024
Faten Omar
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Canyon Resources Secures 20-Year Mining License for Cameroon’s Minim-Martap Bauxite Project
19/09/2024
Kingsley Kobo
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Saudi Arabia’s Banking Sector Gains Momentum
19/09/2024
George Charles Darley-Doran
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South Africa Poised for Interest Rate Cut as SARB Weighs Next Move
19/09/2024
Derick Mazarura
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Zambia’s Proposed Mining Policy Faces Criticism from Industry Stakeholders
19/09/2024
Kennedy Mupeseni
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Ethiopia’s Power Sector Hits $6 Billion Milestone as Reforms Boost Capital and Efficiency
18/09/2024
Michael Masrie
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Nigeria’s $550 Million Ubeta Gas Project Kicks Off in Partnership with TotalEnergies
18/09/2024
Vincent Nwanma
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Ghana’s Economy Expands by 6.9% in Q2 2024, Driven by Strong Industrial Growth
18/09/2024
Emmanuel Bruce
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IMF Revises Senegal’s 2024 Growth Forecast to 6%, Cites Slower Non-Hydrocarbon Sector
18/09/2024
Kingsley Kobo
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Ghana’s E.S.L.A. PLC Launches GH¢1.04 Billion Bond Buyback to Restructure Energy Sector Debt
18/09/2024
Joshua Worlasi Amlanu
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Namibia to Ship First Consignment Under African Free Trade Agreement in October
18/09/2024
Dulue Mbachu
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CBN to Sustain Renminbi Auctions Following China Trade Push
17/09/2024
Vincent Nwanma
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Ghana’s Opposition Demands Forensic Audit of Voters Register Ahead of 2024 Elections
17/09/2024
Emmanuel Bruce
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Zambia Seeks Growth Amid Challenges with Economic Reforms and Investment
16/09/2024
Kennedy Mupeseni
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NNPC Begins Lifting Petrol from Dangote Refinery Amid Pricing Controversy
16/09/2024
Vincent Nwanma
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Nigeria Releases August Inflation Data
16/09/2024
Dulue Mbachu
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Kenya Forecasts 16-Year Low Budget Deficit on Revenue Boost and Spending Cuts
16/09/2024
Patrick Alushula
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Ghana Expands Bauxite Reserves to Boost Production and Drive Aluminium Industry Growth
16/09/2024
Joshua Worlasi Amlanu
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Nigeria to List First Domestic Dollar Bonds on Over-the-Counter Markets
15/09/2024
Dulue Mbachu
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Johnvents Industries Launches N30 Billion Commercial Paper Programme
13/09/2024
Vincent Nwanma
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Saudi Arabia to Reduce Debt Issuance in 2024 as Aramco Boosts Dividends
13/09/2024
George Charles Darley-Doran
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Tensions Rise in Horn of Africa as Somalia Denies Presence of Foreign Troops
13/09/2024
Michael Masrie
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Senegal's President Dissolves Parliament, Calls for Fresh Elections Amid Opposition Challenges
13/09/2024
Dulue Mbachu
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China Commits $2.5 Billion Investment in Gabon’s Power Sector
13/09/2024
Kingsley Kobo
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Saudi Arabia’s Future Investment Initiative to Focus on Innovative Solutions at Eighth Edition
13/09/2024
George Charles Darley-Doran
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Saudi Arabia Plans $3.3 Billion Sports Complex with UK Tech Firm
12/09/2024
George Charles Darley-Doran
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Angolan Debt and Stock Exchange Records Highest Monthly Trading Volume of 2023
12/09/2024
Agostinho Gayeta
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Ghana’s Organised Labour Issues 19-Day Ultimatum to Government Over Mining Ban
12/09/2024
Emmanuel Bruce
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Fitch Projects 6.6% Growth for Benin Republic
12/09/2024
Kingsley Kobo
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Nigeria Signs $1 Billion MOU with Chinese Firm to Revive Steel Industry
12/09/2024
Vincent Nwanma
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Nigeria's First Local Dollar Bond Sale Oversubscribed as Investors Stake $900 Million
11/09/2024
Dulue Mbachu
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Cameroon Loses Millions to Cocoa Smuggling as Beans Flow Illegally to Nigeria
11/09/2024
Amindeh Blaise Atabong
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Ethiopia Launches Salary Reform to Bridge Civil Service Income Gap
11/09/2024
Michael Masrie
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Sonangol Set to Pay Second Interest Instalment on 2023-2028 Bonds
11/09/2024
Agostinho Gayeta
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Nigeria Faces Gasoline Supply Uncertainty as Dangote Refinery Threatens Export Shift
10/09/2024
Vincent Nwanma
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Cameroon Seeks Chinese Investment to Bolster Vision 2035 Development Plan
10/09/2024
Amindeh Blaise Atabong
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Ghana's Power Sector Merger Sparks Backlash Over Energy Security and Financial Risks
10/09/2024
Joshua Worlasi Amlanu
Read More »
Ghana to Announce New Cocoa Price for 2024/25 Season on September 11
09/09/2024
Joshua Worlasi Amlanu
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Mali’s New Mining Code Draws Mixed Reactions from Global Firms
09/09/2024
Dulue Mbachu
Read More »
Kuwait Faces Budget Deficit as Oil Prices Fall Below Breakeven
09/09/2024
Faten Omar
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Nigeria’s Gasoline Price Hike Dims Rate Cut Prospects
09/09/2024
Dulue Mbachu
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Ethiopia and China Seal Currency Swap Deal to Boost Trade Efficiency
09/09/2024
Michael Masrie
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Côte d'Ivoire Raises $185 Million on Regional Financial Market
06/09/2024
Kingsley Kobo
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Kuwait Advances Plans for Integrated Tax System Amid Challenges
06/09/2024
Faten Omar
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Zambia’s Stakeholders Call for IMF Exit Strategy as Program Nears End
06/09/2024
Kennedy Mupeseni
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China Pledges $50 Billion to Africa, Aiming to Secure Critical Minerals and Boost Green Energy
06/09/2024
Dulue Mbachu
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Nigeria Records Economic Expansion in August for the First Time in Over a Year
05/09/2024
Vincent Nwanma
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Ghana launches consent solicitation for $13 billion Eurobond restructuring
05/09/2024
Emmanuel Bruce
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IMF Eases Conditions on Egypt’s $8 Billion Program Amid Economic Reforms
05/09/2024
Abdo Elmallah
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BCG Admits to Bribery in Angola, Agrees to Forfeit $14 Million
05/09/2024
Acutel
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China to Rehabilitate Tanzania-Zambia Railway in $1 Billion Deal
04/09/2024
Dulue Mbachu
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Nigeria’s Telecom Sector Poised for Medium to Long-Term Growth Despite Short-Term Challenges
04/09/2024
Vincent Nwanma
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Kenya's Safaricom Urges Stricter Rules on Starlink Amid Growing Competition
04/09/2024
Acutel
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Ghana Secures $250 Million from World Bank to Revitalise Energy Sector
04/09/2024
Joshua Worlasi Amlanu
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Zambia's Hichilema looks to China to revival TAZARA, energy solutions
04/09/2024
Kennedy Mupeseni
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Dangote Refinery Starts Gasoline Production, Set to Disrupt Global Oil Markets
03/09/2024
Dulue Mbachu
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Kenya’s NSSF Pension Assets Surge 22% to Sh402 Billion
03/09/2024
Acutel
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Gabon to Launch Oil Exploitation in New Wells Following Assala Energy Acquisition
03/09/2024
Kingsley Kobo
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Zuma’s Arms Deal Case Faces 15th Delay Amid Defence Push to Remove Prosecutor
03/09/2024
Eric Kasongo
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Ethiopian Airlines Suspends Flights to Eritrea as Tensions Rise
03/09/2024
Michael Masrie
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Egypt Files Fourth UNSC Complaint Against Ethiopia Over GERD as Tensions Rise
02/09/2024
Michael Masrie
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Nigeria’s State Oil Company Admits Debt to Suppliers, Fuel Shortages Loom
02/09/2024
Vincent Nwanma
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South Africa's Trade Surplus Climbs to R17.6 Billion in July Amid Export Growth
02/09/2024
Eric Kasongo
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Nigeria Charges 10 Protesters with Treason Amid Crackdown on Anti-Government Demonstrations
02/09/2024
Dulue Mbachu
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Tensions Rise in the Horn of Africa Over Water and Sea Access, Raising War Risks
02/09/2024
Dulue Mbachu
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Africa CDC Faces $224 Million Shortfall in Funding to Combat Monkeypox Outbreak
30/08/2024
Amindeh Blaise Atabong
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Ghana Cocoa Board to Secure $600 Million Syndicated Loan Amid Financing Shift
30/08/2024
Emmanuel Bruce
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Gabon Denies $5.5 Billion Fundraising Deal with Fintech Firm Yunus S.A.
30/08/2024
Amindeh Blaise Atabong
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Nigeria Grants Licenses to Crypto Platforms, Shifting from Prohibition to Regulation
30/08/2024
Dulue Mbachu
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Daraju Industries Launches Commercial Paper Offerings at High Yields
29/08/2024
Vincent Nwanma
Read More »
AFC Backs Nigeria’s Largest Gas-to-Methanol Plant in Akwa Ibom
28/08/2024
Dulue Mbachu
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Gabon Targets Tourism Revival with $35 Million Investment
28/08/2024
Kingsley Kobo
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Egypt's Economy Sees Modest Gains from Expected US Rate Cuts
28/08/2024
Abdo Elmallah
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Tanzania and Zambia to Finalise $1 Billion Rail Revamp Deal with China by September
28/08/2024
Dulue Mbachu
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Kenyan Banks Raise Deposit Rates to 26-Year High Amid Rising Government Paper Yields
27/08/2024
Patrick Alushula
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Nigerian President Tinubu Consolidates Power with Key Security Appointments
27/08/2024
Dulue Mbachu
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Senegal’s Inflation Rate Drops to Lowest Level in Five Years
27/08/2024
Kingsley Kobo
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Floyd Shivambu’s Defection from EFF to MK Party Sparks Uncertainty in South African Politics
27/08/2024
Eric Kasongo
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Mali’s Gold Reserves Drop 17% Amid Political Uncertainty and Business Risks
26/08/2024
Dulue Mbachu
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Nigerian Economy Grows 3.19% in Q2, Services Sector Leads as Agriculture Falters
26/08/2024
Vincent Nwanma
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Nigeria Lacks Funds to Repair Aging Oil Pipelines, Says Minister
26/08/2024
Vincent Nwanma
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Mahama Pledges Tax Cuts and Economic Reforms in 2024 Manifesto
26/08/2024
Emmanuel Bruce
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Nigerian Equities Defy Rate Hikes, Surging 28% Year-to-Date
26/08/2024
Dulue Mbachu
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United Airlines Expands African Routes with Daily Flights to Lagos
23/08/2024
Dulue Mbachu
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UK Commits $35 Million to Launch DR Congo’s New Container Port Project
23/08/2024
Kingsley Kobo
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Perseus Divests Côte d'Ivoire Stake to Focus on West African Growth
23/08/2024
Kingsley Kobo
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Kenyan Banks Face Rising Defaults as Credit Demand Weakens
23/08/2024
Otiato Guguyu
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Oando Acquires Nigerian Agip Oil Company in $783 Million Deal
22/08/2024
Vincent Nwanma
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Ghana Set to Launch Eurobond Exchange, Finalising Debt Restructuring Efforts
22/08/2024
Joshua Worlasi Amlanu
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Uganda Oil Pipeline to Get Backing From Nine European Banks, Minister Says
22/08/2024
Dulue Mbachu
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Zambia Hands Back Konkola Copper Mines to Vedanta, Eyes Major Production Boost
22/08/2024
Kennedy Mupeseni
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KCB Resumes Dividend Payments as Profits Surge
22/08/2024
Herald Aloo
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BEAC Injects $425 Million into CEMAC Banks Amid Liquidity Strain
22/08/2024
Amindeh Blaise Atabong
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Namibia to Protect Local Jobs in Draft National Oil Law
21/08/2024
Dulue Mbachu
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Ghana Cocoa Board Ends 32-Year Reliance on Offshore Financing
20/08/2024
Joshua Worlasi Amlanu
Read More »
Nigeria Matches Africa’s Highest 2024 Bond Coupon Rate with $500 Million Sale
20/08/2024
Dulue Mbachu
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Ethiopia’s Debt Restructuring Hits Roadblock
20/08/2024
Michael Masrie
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Nigerian Labour Leader Summoned by Police Over Alleged Crimes
20/08/2024
Vincent Nwanma
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Cote D’Ivoire’s Inflation Eases to 4% in July
20/08/2024
Kingsley Kobo
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Ethio Telecom and VISA Unveil Digital Remittance Service
20/08/2024
Michael Masrie
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Kenya Airways Posts First Profit in 11 Years as Debt Takeover Eases Burden
20/08/2024
Herald Aloo
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Senegal Launches First Satellite
20/08/2024
Kingsley Kobo
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Africa Declares Mpox Resurgence a Public Health Emergency
20/08/2024
Amindeh Blaise Atabong
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Nigeria to Begin Crude Oil Sales in Naira to Local Refineries Starting October
19/08/2024
Vincent Nwanma
Read More »
Ghana’s Presidential Candidate Bawumia Unveils 2024 Manifesto with Focus on Mining and Tax Reforms
19/08/2024
Emmanuel Bruce
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Nigerian Government Grants Off-Grid Power Licenses to Telcom Giants
19/08/2024
Vincent Nwanma
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Nigeria Launches $500 Million Dollar Bond to Tap Diaspora Funds
19/08/2024
Dulue Mbachu
Read More »
Nairobi Airport Faces Disruption as Workers Protest Adani Deal
18/08/2024
Acutel
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East African Breweries Maintains Appeal on NSE with Steady Dividend Payouts
16/08/2024
Acutel
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New Oil Producers in Africa Attract Investment as Established Players Lose Ground
16/08/2024
Dulue Mbachu
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Ghana to Make GH¢7.52 Billion Coupon Payment Under Domestic Debt Exchange Programme
16/08/2024
Joshua Worlasi Amlanu
Read More »
Nigeria to Rely on Domestic Savings as Concessional Funds Dwindle, Finance Minister Says
15/08/2024
Vincent Nwanma
Read More »
Nigeria’s Inflation Eases for First Time in 20 Months, Offers Relief to Government
15/08/2024
Dulue Mbachu
Read More »
Cameroon’s State Oil Firm Denies Allegations of Undervalued Crude Sales
15/08/2024
Amindeh Blaise Atabong
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Nigerian Banks Accelerate Capital-Raising
15/08/2024
Vincent Nwanma
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BEAC Currency Rules Stall Central Africa’s Energy Projects
15/08/2024
Dulue Mbachu
Read More »
Namibia's Central Bank Lowers Interest Rate As Inflation Slows
14/08/2024
Will McBain
Read More »
Cameroon Secures $148 Million Investment for Steel and Metallurgy Cluster in Douala
14/08/2024
Amindeh Blaise Atabong
Read More »
Ghana Ramps Up Treasury Bill Auctions to Meet Upcoming Bond Payment
14/08/2024
Emmanuel Bruce
Read More »
Bank of Zambia Holds Interest Rate at 13.5%, Defends Foreign Currency Penalty Amid Inflation Concerns
14/08/2024
Kennedy Mupeseni
Read More »
Nigeria's Cocoa Output at Risk Due to Prolonged Dry Spell
13/08/2024
Dulue Mbachu
Read More »
Nigeria Opens Subscription for Savings Bonds with High Coupon Rates
13/08/2024
Vincent Nwanma
Read More »
Rising Cost of Funds Pressures Kenyan Banks’ Profit Margins
13/08/2024
Otiato Guguyu
Read More »
Cote D’Ivoire Accelerates Cocoa Processing Efforts to Boost Local Economy
12/08/2024
Kingsley Kobo
Read More »
Gabon to Launch Central Africa’s Largest Solar Energy Plant in October
12/08/2024
Kingsley Kobo
Read More »
Nigeria to Establish Digital-Free Zones to Attract Global Tech Companies
12/08/2024
Dulue Mbachu
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Tanzania Detains Opposition Leaders, Halts Youth Rally
12/08/2024
Will McBain
Read More »
Zambia Shuts Key Copperbelt Borders with DRC, Threatening Trade Relations
12/08/2024
Kennedy Mupeseni
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Cameroon’s Trade Minister Calls for Fairer Distribution of Cocoa Profits
12/08/2024
Amindeh Blaise Atabong
Read More »
Nigeria Approves New Tariff Regime for Mobile Operators as Currency Devaluation Hits Profits
09/08/2024
Dulue Mbachu
Read More »
FSD Africa Seeks Fund Manager to Launch $300 Million Debt Fund for Kenyan MSMEs
09/08/2024
Patrick Alushula
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Oando Shares Surge Following Strategic Acquisitions
09/08/2024
Vincent Nwanma
Read More »
Rift in ECOWAS Deepens Amid Geopolitical Power Struggles
09/08/2024
Dulue Mbachu
Read More »
Ghana Launches Gold Refinery to Maximise Economic Gains
08/08/2024
Joshua Worlasi Amlanu
Read More »
Meta May Leave Nigeria Over $220 Million Dispute
08/08/2024
Dulue Mbachu
Read More »
Central Bank of Kenya Makes Surprise Rate Cut After Four Years
06/08/2024
Herald Aloo
Read More »
Kenya Falls Short of Budget Cut Target
06/08/2024
Herald Aloo
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Global Selloff Raises Yields on African Eurobonds, Increasing Borrowing Costs
05/08/2024
Vincent Nwanma
Read More »
Central Bank of Nigeria Introduces Dutch Auction System to Stabilise Naira Amid Rising FX Demand
05/08/2024
Vincent Nwanma
Read More »
Protests in Nigeria Enter Fifth Day Amid Regional Differences and Rising Tensions
05/08/2024
Dulue Mbachu
Read More »
Second Day of Nigeria’s Anti-Hunger Protests Sees Reduced Tensions and Lower Turnout
02/08/2024
Vincent Nwanma
Read More »
Violent Protests Against Nigerian President Tinubu’s Economic Policies Enter Second Day
02/08/2024
Dulue Mbachu
Read More »
Zambia's Capital Market Shows Growing Resilience
02/08/2024
Kennedy Mupeseni
Read More »
Cameroon Successfully Issues $550 Million Bond to International Investors
01/08/2024
Amindeh Blaise Atabong
Read More »
Kenya's Court of Appeal Declares Finance Act 2023 Unconstitutional
01/08/2024
Patrick Alushula
Read More »
Nigerian Protests Over Cost-of-Living Crisis Shut Down Businesses and Schools
01/08/2024
Dulue Mbachu
Read More »
Nigeria Braces for 10-Day Anti-Hunger Protest Amid Economic Crisis
01/08/2024
Vincent Nwanma
Read More »
Cameroon Warns of Potential Spread of Devastating Banana Disease
31/07/2024
Amindeh Blaise Atabong
Read More »
Mozambique's New State Mining Company to Boost Graphite Production
31/07/2024
Dulue Mbachu
Read More »
Ghana Approves $980 Million Investment for New Sentuo Oil Refinery
31/07/2024
Emmanuel Bruce
Read More »
Nigerian Telecom Regulator Orders Reconnection of Barred Mobile Lines Amid Protests
31/07/2024
Vincent Nwanma
Read More »
Nigerian Cocoa Farmers Urge EU to Delay Deforestation Regulation
30/07/2024
Dulue Mbachu
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Ethiopia Devalues Currency as IMF Approves $3.4 Billion Credit Line
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