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I (Rwandan franc 1000 = £0.77/$0.96/€0.90) i B The aim is to return growth to pre-pandemic levels. b The government of Rwanda is expected to spend an estimated Rwandan francs 4,658.4bn in the next fiscal year (2022/2023), representing an increase of Rwf217.8bn or 4.7% compared to Rwf4,440.6bn of the revised budget of the current fiscal year. The disclosure was made on May 19th by Uzziel Ndagijimana, minister of finance and economic planning, while presenting the 2022-2023 Budget Framework Paper, and the annual budget estimates to both chambers of parliament. While presenting the proposed financial plan to legislators, Ndagijimana said that the next financial year budget, which will start on July 1st, 2022, will focus on the implementation of government strategies meant to resuscitate the economy from the Covid-19 pandemic so that it reaches the pre-pandemic growth level. [Extracted from the article]

In another interview with pro-government TV host Amr Adeeb, Maait said there is "clear prejudice" against Egypt. B The Fitch Ratings move is deemed to be politically motivated. b Egyptian local media outlets have discussed a recent report by finance and insurance company Fitch Ratings in which it downgraded the country's credit rating. [Extracted from the article]

Yet, the outlook remains highly uncertain as the recovery depends on the progress in the fight against Covid-19 and is vulnerable to disruptions in global activity and financial markets, the International Monetary Fund (IMF) said in its latest Regional Economic Outlook for Sub-Saharan Africa. I (imf.org 21/10) i Reviews and Assessments B Burundi, Addressing Covid-19 Impact: b The Executive Board of the International Monetary Fund (IMF) approved a disbursement of about US$76.2m under the Rapid Credit Facility (RCF). At the end of the mission, Aisen said: "The Nigerien authorities and the IMF team reached a staff-level agreement on economic and structural policies and reforms that would underpin a new three-year arrangement under the ECF with access to about US$ 278.5m. I (imf.org 26/10) i B Niger, New Arrangement: b An IMF staff team led by Ari Aisen held virtual meetings from October 25th to November 1st to conclude discussions on IMF financial support via an Extended Credit Facility (ECF) in support of the authorities' economic reform programme. [Extracted from the article]