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    Zimbabwe cuts world’s highest interest rate as inflation eases

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    Shell oil tanker questioned over payment of losses and damages

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    Africa: SEFA Grants $1 Million to Seven Countries to Develop Electric Mobility

    Richest African man building fourth cement plant in Nigeria

    Richest African man building fourth cement plant in Nigeria

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa startups defy funding slump as debt financing fuels growth

    Africa startups defy funding slump as debt financing fuels growth

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Port of Maputo achieves new handling record, sees soaring chrome throughput

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    Court told Anglo turned blind eye to Zambian lead poisoning

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    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    Yellow Card expands payment feature across Africa

    Yellow Card expands payment feature across Africa

    Government starts payment of $674,5 trillion matured securities

    Government starts payment of $674,5M matured securities

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    South African rand steady with investor focus on Fed minutes

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    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

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IMF REVISES GROWTH FORECAST FOR SA FROM 4% TO 5%

It's published its latest growth outlook for the world's major markets on Tuesday.

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18/10/2021
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IMF REVISES GROWTH FORECAST FOR SA FROM 4% TO 5%

IMF REVISES GROWTH FORECAST FOR SA FROM 4% TO 5%

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FILE: A man walks past the International Monetary Fund (IMF) headquarters in Washington DC on 5 September, 2018. Picture: AFP

JOHANENSBURG – The International Monetary Fund (IMF) has revised its growth forecast for South Africa from 4% to 5% for this year.

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Zanzibar’s president is looking to make horticulture a significant part of his country’s economy

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Zimbabwe cuts world’s highest interest rate as inflation eases

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It’s published its latest growth outlook for the world’s major markets on Tuesday.

While this is good news for the country, the fund has indicated that growth is expected to slow to 2% next year.

Despite COVID-19 continuing to flare-up around the world, the IMF said global economic recovery was set to continue.

However, the pandemic has affected growth with the global projection for this year revised down marginally to 5.9%.

The IMF has forecast it to be unchanged next year at 4.9% due to the continued effects of the pandemic.

South Africa is expecting a fourth wave in December with the official death toll at over 88,000.

Globally the toll stands at over 4.675 million people.

The IMF said the pandemic had affected critical links in global supply chains, resulting in longer-than-expected disruptions, further feeding inflation in many countries.

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