Uganda’s real GDP expanded 4.9% y/y in Q2 22, marginally weaker than the prior quarter’s 5.1%, following a marked moderation in import taxes. The pace of growth is anticipated to slow in H2 2022 as households navigate a higher inflation and lending rates environment. Economic growth will average about 4.3% …
Read More »Cost-of-living crisis deals further blow to Britons as inflation hits 40-year high
About 44 percent of Britons are having to cut back on food spending as a result of rising food prices London, UK | Xinhua | British households are being weighed down by a worsening cost-of-living crisis and public skepticism toward the government’s economic policy is on the rise as the country’s …
Read More »Uganda’s inflation a fetish
Why government policy to control inflation at 5% under whatever circumstances is misguided THE LAST WORD | ANDREW M. MWENDA | A fetish is an inanimate object (like a small stone or wood curving of something like an animal) that is worshipped for its supposed magical powers. That is what …
Read More »Experts tell broke African countries to swallow pride, go for debt relief
Nairobi, Kenya | THE INDEPENDENT | The International Monetary Fund, the World Bank and national lenders like the US, China and Japan are yet to agree on the modalities of debt relief for poor countries, as eligible ones remain reluctant to apply. A few countries have been processing their requests …
Read More »Uganda’s inflation a fetish
Why government policy to control inflation at 5% under whatever circumstances is misguided THE LAST WORD | Andrew M. Mwenda | A fetish is an inanimate object (like a small stone or wood curving of something like an animal) that is worshipped for its supposed magical powers. That is what …
Read More »World Bank chief says global economy “dangerously close” to a recession
Washington, U.S. | Xinhua | The global economy is “dangerously close” to a recession, as inflation remains elevated, interest rates rise, and growing debt burden hits the developing world, World Bank President David Malpass said Thursday. “We’ve lowered our 2023 growth forecast from 3 percent to 1.9 percent for the global …
Read More »IMF urges policymakers to keep tight fiscal stance to help fight inflation
Washington, U.S. | Xinhua | The International Monetary Fund (IMF) on Wednesday urged policymakers to prioritize protecting the vulnerable through targeted support, while keeping a tight fiscal stance to help fight inflation. “Governments confront difficult trade-offs amid sharp increases in food and energy prices,” Vitor Gaspar, director of the IMF’s fiscal …
Read More »IMF downgrades 2023 global growth forecast to 2.7 pct
Washington, U.S. | Xinhua | The International Monetary Fund (IMF) on Tuesday projected the global economy to grow by 3.2 percent this year and 2.7 percent in 2023, with a downward 0.2-percentage-point revision for 2023 from the July forecast, according to the latest World Economic Outlook (WEO) report. The global economy …
Read More »GGOOBI: Government is not broke
Kampala, Uganda | THE INDEPENDENT | The government withheld substantial amounts of funds which were supposed to be released in the first quarter of the financial year 2022/2023, as a way of controlling the count of money in circulation, according to the Ministry of Finance, Planning and Economic Development. This fiscal …
Read More »IMF chief highlights “fundamental shift” in global economy
Washington, U.S. | Xinhua | The International Monetary Fund (IMF) chief said Thursday there is a “fundamental shift” in the global economy, urging countries to bring down inflation, put in place responsible fiscal policy, and jointly support emerging market and developing economies. The global economy is moving “from a world of …
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