Growth, not debt restructuring, more important for Africa: IMF

Growth, not debt restructuring, more important for Africa: IMF

African countries seeking to stabilize their debt levels should prioritize increasing growth, balancing public finances, and strengthening institutions, International Monetary Fund economists said in a report.They argued that it is possible for debt stabilization efforts to prosper in Africa without restructuring debts, citing 60 such instances since 2000, including during the COVID-19 pandemic. Both “budgetary consolidation and real economic gr…

Gvt must rein in bloated wage bill: IMF

. . . as economic growth slows . . . public spending remains unsustainable Moroke Sekoboto AMIDST rife unemployment in Lesotho, the International Monetary Fund (IMF) has issued a stern warning for the country to intensify efforts to reduce its public wage bill as part of critical reforms to safeguard fiscal stability and foster sustainable growth. According to the IMF Staff Concluding Statement issued this week, following a two-week Article IV c…