African Development Bank debars Beza Consulting Engineers PLC and Mr Gidey Gebrezgabher Gebremariam for 15 months for fraudulent practices

The African Development Bank Group, on 31 August 2023, announced a 15-month debarment of Beza Consulting Engineers PLC and Mr Gidey Gebrezgabher Gebremariam, effective from 21 August 2023. Beza Consulting Engineers PLC is a consulting firm registered under the laws of Ethiopia.

International Energy Agency, African Development Bank to Launch Joint Report on Financing Clean Energy in Africa at Africa Climate Summit

What:      Launch of the IEA-AfDB Joint Report on Financing Clean Energy in Africa
Who:       International Energy Agency and African Development Bank
Where:    Room SE5, the Kenyatta International Convention Centre, Nairobi, Kenya.
When:     8:00 – 9:00 am East Africa Time, 6 September 2023
 

IMF Executive Board Concludes 2023 Article IV Consultation with Botswana

Following a strong recovery of almost 12 percent growth in 2021, Botswana’s economy grew by 5.8 percent in 2022, significantly above the long-run average of 4 percent. The ongoing recovery from the pandemic primarily reflects elevated mining production. Inflation has declined sharply since August of 2022. After declining in 2022, FX reserves have stabilized and remained at adequate levels at end-2022. The unemployment rate remains elevated at 25 percent.

IMF Executive Board Completes the First Reviews under the Precautionary and Liquidity Line and Resilience and Sustainability Facility with Jamaica

Jamaica has continued to make progress in enhancing fiscal, financial, AML/CFT policy frameworks, and data adequacy, and is implementing the ambitious climate policy agenda to support economic growth. These policies are supported by the PLL and RSF arrangements, which were approved on March 1, 2023, in an amount equivalent to SDR 727.51 million (about US$968 million) or 190 percent of quota, and SDR 574.35 million (about US$764 million) or 150 percent of quota, respectively (see Press Release No. 23/57).