JOHANNESBURG: The International Monetary Fund’s (IMF) executive board approved a disbursement to Central African Republic of about $34.4 million after completing the first and second reviews of its $115 million loan program, the Fund said on Wednesday.
The country is facing the duel challenges of the coronavirus pandemic as well as a resurgent rebel offensive launched in opposition to elections held last month.
IMF Deputy Managing Director Mitsuhiro Furusawa said in a statement that the fallout from the virus appeared to have receded, but the economy remained fragile.
“The Covid-19 pandemic has had a substantial impact on C.A.R’s economy but appears to be somewhat contained,” he said. “Given its high risk of debt distress and limited revenue base, C.A.R. will have to continue to rely heavily on grant financing for its most pressing spending needs.”
The gold- and diamond-rich nation of 4.7 million has been hit by successive waves of violence since former president Francois Bozize was ousted by a rebellion in 2013. Thousands have been killed and more than a million forced from their homes.
Incumbent President Faustin-Archange Touadera was declared the winner of December’s presidential vote with more than 50% of votes cast, but the result was hotly disputed by the defeated candidates.
BIRGUNJ: Most of the vegetable oil and ghee industries in Parsa and Bara districts have been affected after India imposed a ban on import of palm oil. It is estimated that 90 percent of these industries are adversely affected due to restriction on import decreed by India. Large investments of ind Read More...
KATHMANDU: A renowned Spanish climber died while descending from Camp I on Mt K2, expedition organiser said. Sergio Mingote Moreno died when he suddenly fell down to Advance Base Camp while descending from C1 to Base Camp, Chhang Dawa Sherpa, Expedition Director at Seven Summit Treks shared from Read More...
KATHMANDU, JANUARY 16 Prime Minister KP Sharma Oli slammed the Nepal Communist Party (NCP) faction led by Pushpa Kamal Dahal and Madhav Kumar for spreading the rumour that he had met four justices of the Supreme Court. Addressing a gathering of his faction’s Province 1 chapter cadres in Kath Read More...
KATHMANDU, JANUARY 16 Foreign Minister Pradeep Kumar Gyawali, who returned from his three-day India visit today, said that he sought supply of COVID-19 vaccines for essential sectors and India had kept Nepal on priority for supplying the vaccines. Talking to mediapersons upon arrival at Tribhu Read More...
KATHMANDU, JANUARY 16 The main opposition Nepali Congress today held demonstrations in all 753 local levels across the country against the government’s December 20 move to dissolve the House of Representative. Majority of senior leaders of the NC flayed the government for dissolving the Hous Read More...
LONDON: A late goal from Mason Mount gave Chelsea a laboured 1-0 win at 10-man Fulham in the Premier League on Saturday, easing some of the pressure off their manager Frank Lampard. The result provisionally lifted Chelsea two places up to seventh on 29 points from 18 games, with South Read More...
CHITWAN, JANUARY 16 Senior Nepali Congress leader Ramchandra Paudel today said that dissolution of the House of Representatives was a step against the nation and nationality. Addressing a mass meeting organised by Nepali Congress Bharatpur Metropolitan Committee in Bharatpur, Paudel said that Read More...
RAJBIRAJ, JANUARY 16 Province 2 Chief Minister Lalbabu Raut today said though the Supreme Court verdict should be acceptable, circumstances in which the Parliament was dissolved were suspicious. Addressing the 10th General Assembly of Saptari chapter of Federation of Nepali Journalists at Bana Read More...
