It is the low-income nations in the continent, like Tanzania, which are exhibiting the strongest growth.
Standard & Poor's will likely lower the credit standing of five European nations, including top-rated France, by one or two notches if the region slips into recession and government borrowings increase, the rating agency said in a report.
Clashes between rival groups of protesters broke out in front of the Greek parliament on Thursday, interrupting a rally by tens of thousands against a tough new package of austerity measures due to be approved later in the evening.
U.S. stock futures point to a higher opening on Thursday, ahead of economic data, including key weekly U.S. jobs data from the government.
A split between the International Monetary Fund and the European Union is threatening to delay Greece's next aid payment in another blow to European efforts to stem the debt crisis.
U.S. stocks closed decidedly in the negative territory on Wednesday as high expectations regarding the Eurozone bailout were dimmed.
Greek ships were harbored and garbage rotted in the streets of Athens on Tuesday as angry workers built momentum for the mother of all strikes expected to bring the country to a halt in protest against a new package of tax hikes and wage cuts.
Strauss-Kahn was on a list of politicians, lawyers and businessmen involved in a prostitution ring that extended from France to Belgium and may have included women under the age of 18.
Suicide rates are skyrocketing in a country already beset by massive job cuts, austerity spending, slashed pensions, and soaring taxes.
The chief public finance official of the world's largest economy said Sunday that he sees a ray of light in Europe's most recent effort to stop its sovereign debt crisis. U.S. Treasury Secretary Timothy Geithner, while attending a Group of Twenty (G20) meeting in Paris, said he is encouraged by the latest effort to address the crisis.
Ireland has come to grips with its banking problems, but it will not be able to pop the champagne until its unemployment rate starts to come down, a senior official with the International Monetary Fund said Saturday.
The world's leading economies kept the pressure firmly on Europe to sort out its debt crisis on Saturday with the sense of urgency to be reflected in a communique at the end of a G-20 finance chiefs' meeting.
The Eurozone debt crisis will dominate a summit of G20 finance chiefs and central bank heads in Paris, with a downgrade of Spain's credit rating highlighting the risk of a much larger economy than Greece coming under threat.
G20 finance chiefs and central bank heads meet in Paris on Friday urgently needing to find a convincing solution to a deepening euro zone debt crisis that has fanned fears of a global slide into recession.
Ivory Coast's government has ended consultations with cocoa exporters and farmers on planned reforms to the sector that will guarantee its hundreds of thousands of smallholders a minimum selling price, officials said on Thursday.
The Fund said gross domestic product (GDP) growth across Asia will average 6.3 percent in 2011, and 6.7 percent in 2012 (in April, the IMF forecast nearly 7 percent growth for both years).
IMF said on Thursday that downside risks in Asia are rising due to Europe's debt woes and a U.S. slowdown
Two years into the Greek sovereign debt crisis, Eurozone countries are still finger-pointing and not working toward a long-term solution based on mutual interest. Further, the most recent $11 billion band-aid for Greece will buy no peace for stakeholders, nor any resolution to the crisis.
Egypt's Finance Minister Hazem el-Beblawi has quit after less than three months in the post over the government's handling of a protest by Coptic Christians on Sunday night, an aide to Beblawi said on Tuesday.
Year-on-year inflation in Ivory Coast was running at 4.6 percent in August, the National Statistics Institute said on its website on Tuesday, the first time it has published price data since the end of fighting earlier this year.
There were fears that without the cash injection, the government wouldn’t be able to pay public servants and therefore default on its debt.
Europe's banks will have to achieve a significantly stronger capital position under a quick-fire regulatory health check and may need to raise some 100 billion euros ($137 billion), banking and regulatory sources said on Tuesday.
