Oil crash a 'formidable shock' to African exporters
The Fund said it is working with the affected countries
Washington - AFP
The International Monetary Fund said Wednesday the plunge in oil prices will force significant fiscal adjustments on Africa's oil exporters.
The IMF said the 70 percent fall in crude prices over the past 18 months has been a "formidable shock" to sub-Saharan African oil exporters like Nigeria and Angola, given their heavy reliance on oil receipts in state revenues.
"While most oil producers have low levels of debt and adequate levels of reserves, the massive oil price decline makes ..
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Buenos Aires - AFP
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Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
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Paris - Al Maghrib Today
Microsoft is to open 4 data storage centers in France to meet strong customer demand for cloud computing, the head of the software giant's French operations told the Agence France-Presse onVAR in Champions League only from 2019-20 season
Moscow - AFP
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Paris - Al Maghrib Today
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To 'eternal style' of late Alaia
Paris - Al Maghrib Today
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