The World Bank warned and compared cryptocurrencies to “Ponzi schemes”. The warning is the the latest financial voice to raise questions about the legitimacy of digital currencies such as Bitcoin.
Nigeria’s President Muhammadu Buhari signed an executive order on Monday aimed at boosting the domestic production of goods and creating jobs in science, technology and engineering in the west African country.
A South Korean appeals court on Monday suspended a jail sentence handed down to Samsung Group heir Jay Y. Lee, setting him free after a year’s detention amid a corruption scandal that brought down the former president.
Ghana may begin hedging oil imports under a new risk management strategy to keep fiscal consolidation on track as global crude prices recover.
That’s what the Reuters news agency is gathering from Ghana's Ministry of Finance. Oil hedging is used to reduce or eliminate a country’s exposure to fluctuating oil prices.
Zimbabwe has the second largest informal economy as a percentage of its total economy in the world, after Bolivia, the International Monetary Fund has said.
International Monetary Fund Boss Christine Lagarde has welcomed a commitment by Zimbabwe’s new President Emmerson Mnangagwa to stabilize the country’s economy and work to improve relations with the international community.
Lagarde met with Mnangagwa on the sidelines of the World Economic Forum in Davos, Switzerland. It was their first meeting since Mnangagwa took power in November when the military ousted Robert Mugabe, who ruled for 37 years.
