Middle East & Africa round-up: World Bank approves loan for Ghana, and more

5 Jun 15

A round-up of public finance news stories from the Middle East & Africa you might have missed

The Board of Executive Directors of the World Bank Group has approved a US$45 million loan for the Ghana Public Financial Management Reform Project to assist the country to improve budget credibility. (Ghana Web)

OPEC kingpin Saudi Arabia is forecast to post a budget deficit of 20 percent of gross domestic product because of the sharp decline in oil revenues, the IMF said Tuesday. (Middle East Online)

FEATURE: African farmers and agriculture businesses experiencing an initial burst of entrepreneurial success, reflecting the tremendous potential for agriculture as an economic driver, but then encountering obstacles that raise questions about how to sustain it. (The Guardian)

Not even tax-free stocks can stop foreigners from dumping Egyptian equities. Non-Arab foreign investors are poised to become net sellers in North Africa’s biggest bourse for the first time in five quarters, even after the government this month postponed a tax on capital gains to make shares more attractive. (Bloomberg Business)

VIDEO: Africa's infrastructure funding is a major issue especially in Nigeria as the new government takes on the reform agenda. (CNBC)

South Africa’s rand steadied against the dollar early on Wednesday after the central bank said a domestic interest rate cut was unlikely and hopes for progress in Greek debt talks boosted sentiment. (CNBC Africa)

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