The African Export-Import Bank (Afreximbank) is the foremost Pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade. The Bank was established in October 1993 by African governments, African private and institutional investors, and non-African investors.
|African Securities Exchanges Association (ASEA)|
The African Securities Exchanges Association (ASEA) is the premier Association of 23 securities exchanges in Africa.
ASEA aims at developing Member Exchanges, enhancing the global competitiveness of Member Exchanges and providing a platform for networking and exchange of information.
|Balance of Trade|
The balance of trade is the account that details the value of exported goods and the value of imported goods. To calculate the balance of trade, the national accounts service evaluates imports and exports of goods based on customs statistics on goods. If the value of exports exceeds the value of imports, it is said that there is a trade surplus; if imports are greater than exports, the country has a trade deficit.
A bond is a negotiable Debt security that is issued by corporations, municipalities, or governments. A bond pays a coupon and is redeemed in accordance with the Prospectus of its issue.
The entity responsible for overseeing the monetary system for a nation (or group of nations). Central banks have a wide range of responsibilities, from overseeing monetary policy to implementing specific goals such as currency stability, low inflation and full employment. Central banks also generally issue currency, function as the bank of the government, regulate the credit system, oversee commercial banks, manage exchange reserves and act as a lender of last resort.
|Consumer Price Index (CPI)|
The Consumer Price Index (CPI) is the instrument to measure inflation. It is used to estimate the average variation between two given periods in the prices of products consumed by households.
|Foreign Direct Investment (FDI)|
These are investments made by an institutional unit residing in one economy with the aim of acquiring a lasting interest in an institutional unit residing in another economy, and of exercising significant influence over its management within the framework of a long-term relationship. By convention, a direct investment relationship is established when an investor acquires at least 10% of the share capital of the company in which it is investing.
|Gross Domestic Product (GDP)|
The Gross Domestic Product is the total market value of all final goods and services produced in a country in a given period.
The HIPC Initiative was launched in 1996 by the IMF and World Bank, with the aim of ensuring that no poor country faces a debt burden it cannot manage. Since then, the international financial community, including multilateral organizations and governments have worked together to reduce to sustainable levels the external debt burdens of the most heavily indebted poor countries. Countries must meet certain criteria, commit to poverty reduction through policy changes and demonstrate a good track-record over time. The Fund and Bank provide interim debt relief in the initial stage, and when a country meets its commitments, full debt-relief is provided.
In 1996, the World Bank and IMF launched the HIPC Initiative to create a framework in which all creditors, including multilateral creditors, can provide debt relief to the world's poorest and most heavily indebted countries to ensure debt sustainability, and thereby reduce the constraints on economic growth and poverty reduction imposed by the unsustainable debt-service burdens in these countries.