DR Congo’s economy grew 0.8% in 2020 propelled by strong mineral activity
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DR Congo’s economy grew 0.8% in 2020 propelled by strong mineral activity

Democratic Republic of Congo’s economy thwarted a projected COVID-19 pandemic-induced recession in 2020 to grow 0.8% boosted by strong returns in the mining sector, a central bank official announced on Tuesday. The official, Plante Kibadhi, said in a tweet that economy is expected to grow by 3.2% this year. DR Congo has been spared the…

Zambia’s central bank raises benchmark rate as it scales back projects to ease debt relief talks
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Zambia’s central bank raises benchmark rate as it scales back projects to ease debt relief talks

Zambia’s central bank has increased its benchmark interest rate to 8.5% from 8%, marking the first such raise since November 2019. In explaining the move, Governor Christopher Mvunga told reporters that the increase will bring down “spiraling” inflation that is at a five-year high and prop up the economy. It came after two days of…