Washington, United States | AFP | The International Monetary Fund on Monday announced immediate debt relief for 25 poor countries to help them free up funds to fight the coronavirus pandemic. “This provides grants to our poorest and most vulnerable members to cover their IMF debt obligations for an initial phase over the next six …
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Kampala, Uganda | THE INDEPENDENT | The World Bank and International Monetary Fund have called for the suspension of debt repayments for poorer countries as many of them turn to focus on battling the Coronavirus (COVID -19). In a joint statement on Wednesday night, the two multi-lateral lenders said the Coronavirus …
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Washington, United States | AFP | The world economy is facing “severe” economic damage from the coronavirus pandemic that could be even more costly than in 2009 and will require an unprecedented response, IMF chief Kristalina Georgieva said Monday. Georgieva called on advanced economies to provide more support to low income countries, which face a …
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The lender will also provide policy and technical advice to ensure countries access global expertise | PATRICIA AKANKWATSA | As the world grapples with the spread of Coronavirus (COVID-19), the World Bank Group is making available an initial package of up to US$12 billion in immediate support to assist countries …
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Dubai, United Arab Emirates | AFP | Energy-addicted Gulf states must undertake much deeper reforms or risk seeing their wealth drain away in 15 years as global demand for oil slides, the IMF warned Thursday. “At the current fiscal stance, the region’s financial wealth could be depleted by 2034,” the International …
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Kampala, Uganda | THE INDEPENDENT | The International Monetary Fund-IMF has slashed Uganda’s growth projection from 6.3% to 6% this year, citing the country’s challenges to get oil out of the ground and government’s inability to do all budgeted activities. After assessing the economy, the IMF said Uganda had challenges to …
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Latest in Uganda, Rwanda, Kenya, Burundi firepower | THE INDEPENDENT | Countries in the East African region continue to spend more on strengthening their armed forces, according to latest data. Although Kenya and Tanzania are the biggest spenders because of their relatively big budgets, most attention is on Uganda, Rwanda, …
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Dubai, United Arab Emirates | AFP | Unemployment and sluggish economic growth are fuelling social tension and popular protests in several Arab countries, the International Monetary Fund said Monday. The unrest is in turn contributing to slower growth in the Middle East and North Africa (MENA) region, alongside global trade tensions, …
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Washington, United States | AFP | At the critical moment of a Hollywood movie starring A-lister Sandra Bullock, Bolivia’s newly-elected president calls in the International Monetary Fund to bail out the poverty-stricken country, violating a campaign promise. The streets erupt in violent protest. The movie, “Our Brand is Crisis,” is …
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Kampala, Uganda | THE INDEPENDENT | The budget allocation for the agriculture sector will in the next financial year pass the 1 trillion Shillings mark for the first time in what officials say will cater for research, fertilizers and coffee strategy. The allocation to the sector will grow by 300 billion …
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