Tag Archives: economy

New York, U.S. | Xinhua | While every modern U.S. president has stretched the truth now and then, Joe Biden’s routine misstatements about money and the economy seem to go unchallenged, reported The Hill in mid-July. “In recent months, as the economy has slipped into a soft recession and with inflation …

Kampala, Uganda | THE INDEPENDENT | The European Union has joined the Ugandan tourism sector and the civil society to demand increased government funding for the sector. The tourism sector is Uganda’s top foreign exchange earner, valued at US$ 1.6 billion in 2019/2020, while the number of foreign visitors was about …

Washington, U.S. | Xinhua | The International Monetary Fund (IMF) on Tuesday slashed the global growth forecast for 2022 to 3.2 percent, down by 0.4 percentage point from the April projection, according to its newly released update to the World Economic Outlook (WEO). Several shocks have hit the world economy already …

Kampala, Uganda | THE INDEPENDENT | The Ugandan borrowing public will continue enduring a high cost of credit for as long as the current inflation and foreign exchange rates continue skyrocketing, according to the Bank of Uganda. This is in response to calls by the private sector, especially the manufacturers, that …

Mastercard’s Farm Pass transforming lives of farmers in Uganda Kampala, Uganda | THE INDEPENDENT | The COVID-19 pandemic threw the world into disarray, but in Africa, life continues: Farmers farm, merchants sell, people apply for capital to create jobs and improve livelihoods, and a heightened need for access to healthcare underpins …

New York, U.S. | Xinhua | The de-dollarization or decline of dollar hegemony will put the United States in a slow crash and make everyday Americans poorer, an economist told Xinhua. Other countries have to de-dollarize because of American foreign policy, forcing them to create an alternative, said Michael Hudson, professor …

Kampala, Uganda | THE INDEPENDENT | Kampala City Trader’s Association-KACITA has called for the reduction of the Central Bank Rate-CBR, saying it has made borrowing from commercial banks very expensive. CBR is the rate that is used by the Central bank to implement or signal its monetary policy stance. It is …

Kabale, Uganda | THE INDEPENDENT | Former Minister of Agriculture Hope Ruhindi Mwesigye has expressed doubt over the Parish Development Model that is being implemented by the government as a tool to uplift the livelihood of 39% of Ugandans from subsistence to cash economy. The former Kabale District Woman MP …

Kampala, Uganda | THE INDEPENDENT | The banking industry is worried over the rate at which the cost of living in Uganda is rising threatening the recovery of the economy. The Uganda Bureau of Statistics reports that headline inflation steadily increased to 6.8 per cent at the end of June, from …

Tehran, Iran | Xinhua | An Iranian lawmaker said on Monday that the Western sanctions on Iran and Russia have brought the two sides closer to each other in trade and economy, official news agency IRNA reported. Iran and Russia are providing one another with the products they fail to have …