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The bank forecasts the Turkish economy to expand by 3.1 percent next year and 3.9 percent in 2025, a downward revision from its previous estimates of 4.3 percent and 4.1 percent, respectively, in June. “Growth is projected to increase to 4.2 percent in 2023 because of resilient household consumption and reduced policy uncertainty,” the bank said in its Europe and Central Asia Economic Update report. “Gradual fiscal consolidation is expected to continue supporting fiscal balances, and the macro-financial stabilization alongside lira depreciation and policy support to exporters is expected to further narrow the current account deficit,” the bank said. The international lender…

The International Monetary Fund (IMF) has strongly supported a call by the African Development Bank Group urging countries in Africa to stop borrowing loans backed by their natural resources. The IMF Managing Director Kristalina Georgieva met Thursday with the African Development Bank Group President, Akinwumi Adesina, in Abidjan, Cote D’Ivoire. It is the first time an IMF head has visited the bank’s headquarters since its establishment in 1964. Welcoming Ms Georgieva, Mr Adesina said, “The natural resource-backed loans are non-transparent, expensive and make debt resolution difficult.” He warned that if the trend continues, “it will be a disaster for Africa.”…

The IMF managing director said international cooperation is weakening at a time the world needs it most, adding that the bridges that connect countries are corroding as trade and investment barriers rise. Georgieva gave advisory on Thursday, in Côte d’Ivoire, during a curtain raiser speech in preparation for the 2023 World Bank and IMF annual meetings scheduled for October 9 to 15, in Morocco. Georgieva, speaking on trade barriers, said operating a free trade market will push up the per capita income of an African country by more than 10 percent. Per capita income measures the amount of money earned…

A 21-year-old New York college student says she was detained in Dubai after an airport search. Airport officials accused Elizabeth Polanco De Los Santos of assault after she nudged one of them, she said. Several Americans have been prohibited from leaving Dubai by drummed-up legal charges and scams. A 21-year-old New York college student has been detained in Dubai after airport staffers accused her of “assaulting and insulting” them. Elizabeth Polanco De Los Santos was traveling from Istanbul with a friend when the incident unfolded in mid-July, Detained in Dubai, an organization that provides advice and legal assistance to foreigners…

Although the pace of increase has come down ever so slightly, the price of rental accommodation in Canada continues to go up, with the average new tenant now being asked to pay $2,117 a month. That’s according to a new report from Rentals.ca and real estate consulting and data firm Urbanation, which tabulates the data every month from their database of the largest single group of rental listings across the country. The $2,117 figure is an increase of 9.6 per cent from the average rent in August of last year. That’s down from an all-time high of 12 per cent…

Canada is gripped by a surge in homelessness that has seen tens of thousands of people priced out of the rental and real estate markets and left to live in the streets of the wealthy nation. Researchers warn government data is vastly underestimating the number of homeless across the country, as the social ill spreads from major cities to small towns. In Quebec, one in two homeless people can be found in rural parts of the eastern province, instead of mainly in Montreal as had been the case in the past, according to a new report published in September. Danny…

The Speaker of the Economic Community of West African States (ECOWAS) Parliament’s Speaker, Hon Sidie Tunis has disclosed that the key components of the 2024 Parliament’s budgetary allocations will be directed towards supporting women and youth development. Tunis disclosed this in his speech while declaring open the Second Extraordinary Session of the Community Parliament of the fifth Legislature in Winneba, Ghana on Tuesday which is dedicated to the consideration and adoption of the 2024 Draft Budget of the Parliament. At the session, Hon. Mohamed Bangura and Hon. Sarah Emmerson Lamina, parliamentarians from Sierra Leone were sworn in by the speaker.…

The election was triggered by the resignation of Anthony Rota, who stepped down last week after he invited — and honored — a man who fought for a Nazi military unit during World War II. Just after Ukrainian President Volodymyr Zelenskyy spoke before the Canadian parliament last month, Canadian lawmakers gave 98-year-old Yaroslav Hunka a standing ovation when Rota drew attention to him. Rota introduced Hunka as a war hero who fought for the First Ukrainian Division. Menu AP Logo Show Search Morgan State shooting McCarthy out Emergency Alert test Champions League Italy bus crash WORLD NEWS Canada’s House…