In attempt to increase foreign currency reserves, Democratic Republic of Congo ordered mining and oil firms to pay taxes and import duties in US dollars rather than in the national currency, the Central Bank of Congo ...
The Kuwaiti government is showing a willingness to push forward fiscal reforms including subsidy cuts, due to the persisting low price of crude, and pressure over lacking support for the country's currency.
Several African countries are suffering this year from a double-whammy of higher oil prices and weakening currencies, with Ghana and parts of eastern Africa taking the hardest knock from the surge in inflation.
The dollar touched its lowest level in 11 weeks and US and European equities remained under pressure as the recent sell-off in government bonds on both sides of the Atlantic showed few signs of abating.
Mohamed El Sobki, chairman of Egypt’s New & Renewable Energy Authority (NREA), stated at the event Tuesday that the country was targeting 18,000 megawatts of renewable energy projects.