The October 2024 Regional Economic Outlook for Sub-Saharan Africa (SSA) has announced that macroeconomic imbalances are gradually easing in the region, thanks to policy adjustments. Inflation has declined in many countries, but challenges remain. International bond markets have reopened. Exchange rate pressures have partially eased since January 2024. Growth is expected to pick up modestly in 2025 (delayed but broad-based recovery next year, driven by expectations of less-frequent blackouts, macroeconomic stabilization, and more accommodative monetary policy), but with significant heterogeneity and divergent long-term patterns (resource vs. non-resource-intensive countries). The Per capita income growth is insufficient to improve living standards and there is little convergence with global income levels. Risks to the outlook are tilted to the downside and include intensifying climate shocks, mpox spread, volatility in commodity prices, slowdown in advanced economies, volatile financial markets. Volatile financial markets could lead to higher sovereign risk premia. An analytical scenario built by IMF staff shows that a 150-bps increase in SSA countries’ sovereign risk premia could lead to a 0.7 percentage point decline in GDP in 2025-2026; a sharp fall in private investment (-5.2%); and a 0.7 percentage point increase in policy interest rate. In Seychelles, real GDP growth for 2024 has been revised down to 3.0 percent (compared to 3.7 percent in June 2024). This reflects lower tourist arrivals in the wake of a temporary reduction in the number of direct flights and a decline in average spending per tourist. Some recovery is expected in the last quarter of 2024. Year-on-year inflation was about 0.6 percent as of September, reflecting stable utility rates and stable or declining prices for fuel and other commodities.  Policy makers in the SSA region face with difficult tradeoffs: (i) macroeconomic stability is essential, (ii) elevated development needs (infrastructure, health, education) require additional financing and (iii) social frustration and political pressures, require better use of public resources. The region has increasingly witnessed political fragility and social unrest on the back of structural weakness as people express discontent over increasing hardships, including excessive living costs.      Monetary policy is likely to vary across the region. While most countries in the region have been “on pause,” several have tightened in 2024. Countries with still-elevated inflation may require further tightening. Those with near-target inflation can gradually ease to a more neutral stance, in close cooperation with other policies.    Challenging policy tradeoffs arise as public finances require further consolidation amid elevated spending needs. In such a context it would be important to tackle debt vulnerabilities, reduce fiscal slippages, including through domestic revenue mobilization, boost credibility, and strengthen the medium-term fiscal frameworks. Making reforms more socially acceptable requires a multipronged approach: (i) a use of fiscal policy to promote inclusion, (ii) a focus on communication and consultation strategies, (iii) an appropriate design and sequencing of reforms, (iv) a complementary and compensatory measures (e.g., social protection), and (v) a fair and transparent management of public resources. International assistance to the region has decreased, while the International Monetary Fund (IMF) has intensified its engagement, stepping up support in the region. More than $60 billion have been disbursed since 2020, over $5 billion disbursed in 2024, so far and 26 countries have ongoing IMF financing arrangements; of these, 11 countries have a Resilience and Sustainability Facility. The Fund program design and performance is increasingly constrained by a declining Official Development Assistance and a limited and expensive market financing terms, making it harder to strike a balance between adjustment and financing.

India's space agency, Isro, has ambitious plans. Shukrayaan, a Venus orbiter, is set for a 2028 launch. Chandrayaan 4, a joint mission with Japan, aims for a 2030 lunar landing and sample return. A Mars landing, a space station by 2035, and advancements in the INSAT series are also on the horizon.

A judge has approved the dismissal of federal charges against US President-elect Donald Trump Read Full Article at RT.com

[allAfrica]

NEW YORK (AP) — President-elect Donald Trump threatened today to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office as part of his effort to crack down on illegal immigration and drugs. He said he would impose...

The police are advising members of the public that sections of Waltham Park Road and Bay Farm Road in Kingston 11 are currently closed. This is due to a shooting incident that occurred in the area this evening. READ: https://jamaica-gleaner.com/...

Benjamin Wallbanks, 41, floored David Reagan while on a night out in Stoke on Trent, in Staffordshire.

The Commission for Air Quality Management (CAQM) announced that schools and colleges in Delhi-NCR can resume physical classes, but online learning must also be offered. This hybrid model follows a Supreme Court directive, acknowledging challenges faced by students without online access or midday meals. Other GRAP-4 restrictions remain.

Tensions erupted in Udaipur between factions of the Mewar royal family following Vishvaraj Singh's coronation as the 77th Maharana. Denied entry to City Palace and Eklingnath Temple by Arvind Singh's faction, Vishvaraj Singh's supporters clashed with rivals, leading to stone-pelting. The district administration intervened, restoring order and initiating talks to resolve the dispute.

India celebrated the 75th anniversary of its Constitution on November 26th. Prime Minister Modi commemorated the occasion, highlighting the document's significance. This followed the Supreme Court's rejection of petitions challenging the 1976 amendment that added «socialist,» «secular,» and «integrity» to the Preamble.

En proportion, on pourrait affirmer qu'il y a 3 fois plus d'accidents de la route en Polynésie que dans l'Hexagone. Depuis le début de l'année, il y a eu 29 morts sur nos routes. Et quand elles n'ont pas perdu la vie, les victimes sont marquées pour toujours. Comme Pia Faatomo percutée par une voiture il y a plus de 30 ans. Elle suit désormais un traitement à vie

The South Korean servicemen speculate that the transmission line supports, which have been out of service since June 2020 when the power supply was cut after the bombing of the inter-Korean liaison office in Kaesong, will also be dismantled soon

There were no casualties as a result of the incident, Chief Cabinet Secretary Yoshimasa Hayashi said

The smash unfolded on the Tallin-Narva highway near the border with Russia on Frida. Three Army minibuses were said to have been involved, and 17 people were raced to hospital.

A photo of Conor McGregor's fiancée Dee Devlin leaving a courthouse after the UFC superstar lost his his civil sexual assault case in Ireland has gone viral over the weekend.

Marcus Fakana was arrested for having a sexual relationship with the unnamed girl while they were on holiday in the UAE.

Conor McGregor is fighting to salvage his reputation after he lost a civil case brought by Nikita Hand, 35, who won almost €250,000 (£210,000) in damages on Friday after accusing him of rape.

Family of orcas got up close to small ferries Sunday afternoon.

Raymond Saunders, the creator of the steam clock in Vancouver's Gastown neighbourhood, has died, according to a family member.

The Tsetsaut Skii km Lax Ha Nation has applied to the B.C. Supreme Court for a judicial review of the province's decision to issue a «substantial start determination» for Seabridge Gold's KSM Mine Project in northwestern B.C., part of the final stage of the environmental assessment process.

SINGAPORE — People in wealthy Singapore have taken for granted comforts such as electricity and air-conditioning for decades, but a dwindling band of residents on a tiny island to its east saw the arrival of a solar grid 11 years ago as a miracle they still talk about. The outlying island of Pulau Ubin, a rare rural spot amid the futuristic architecture of the southeast Asian financial hub, is a treasure trove of biodiversity and home to wetlands once under threat of reclamation until the plans were postponed. Though electricity was expensive, said Chu Yok Choon, one of 30 people living on the island that spans just 10 sq km, he loved the fact that the solar grid let him hit a button by the village well to pump water to his home. «Life on the mainland doesn't feel natural,» said the 79-year-old, who had to draw water from the well and use generators to provide electricity until 2013. «Life here is quieter.»

The Republic of Singapore Navy (RSN) has retired its last two Challenger-class submarines, making way for the new Invincible-class submarines. RSS Conqueror and RSS Chieftain were decommissioned in a ceremony held at Changi Naval Base on Monday (Nov 25), the Ministry of Defence (Mindef) said in a news release. The ceremony, officiated by Chief of Navy Rear-Admiral (RADM) Sean Wat, marked the final handover of duties from the Challenger-class Submarines to the Invincible-class Submarines, said Mindef.

Local property developer UOL Group has apologised after several attendees of a dinner and dance event were photographed in blackface make-up. A picture shared by TikTok user Summer88959 on Sunday (Nov 24) shows eight people — wearing matching tracksuits and afro hair wigs — posing in front of a backdrop bearing the company logos of UOL Group and the Pan Pacific Hotels Group. «Emmm … like that will kena (be punished) or not?» the TikTok user asked in the caption. Another photo circulating online shows the group on stage at the event, which was held in the Sands Grand Ballroom at Marina Bay Sands on Nov 14. PHOTO: X/Surejwrites The photos sparked criticism online, with one netizen commenting: «Eight people and not even one person thinks it's not ok to do this.» «It's 2024 already, why are we still doing this?» asked another.

Get the latest news on the transition to the new administration of President-elect Donald Trump and a new Congress.

«We are going to do it very quickly,» Israel Katz said

Bloomberg pointed out that the missiles were sent before the US and UK authorization to use long-range precision-guided weapons to launch strikes from Ukrainian territory deep into Russia

«The Chinese authorities promised to take action to ensure the end of drug trafficking, but, as the president-elect has said, they never did and the flow of Chinese drugs continues in unprecedented amounts,» US president-elect said

Mexico and Canada have every right and opportunity to easily resolve this long-standing problem, US president-elect said

Earlier, Trump promised to impose an additional 10% tariff on all goods from China due to the alleged large-scale drug smuggling from China into the US