Botswana exchange rate 'broadly appropriate' - IMF

(Reuters) - The International Monetary Fund said on Thursday Botswana's exchange rate was "broadly appropriate" amid a strong current account, high reserves and growing exports outside diamonds.

Inflation in Botswana, one of southern Africa's most stable countries and a large diamond producer, has crept up following a 2005 currency devaluation and adoption of a crawling peg.


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IMF chief Rato says to step down in October

(Reuters) - International Monetary Fund Managing Director Rodrigo Rato said on Thursday he would step down from his post in October for "personal reasons," cutting short his term.

Rato, who took office June 7, 2004, said he would depart after the IMF's fall meetings in October.


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Ghana May Be First Sub-Saharan African Seller of Eurobond Except S. Africa

(Bloomberg) -- Ghana plans to sell its first Eurobond
in July, the first sub-Saharan African country outside South
Africa to do so, as it seeks to raise as much as $750 million to
fund infrastructure projects.

In July 2005 Ghana, the world's second-largest cocoa
producer, was chosen as one of 18 countries by the Group of Eight
to have its debt to the International Monetary Fund, the World
Bank and African Development Bank canceled. Power shortages in
Ghana's capital Accra are crimping economic growth, with supply
currently rationed and outages averaging four times a week for as
much as 12 hours at a time.


Read more at Bloomberg Bonds News