Tag Archives: debt

New York, | Xinhua |  The U.S. House of Representatives Wednesday passed a bill that lifts the federal government debt ceiling until Jan. 1, 2025. Lawmakers voted to pass the bill 314 to 117 after it was introduced to Congress late Sunday. Entitled The Fiscal Responsibility Act of 2023, the …

COMMENT | CLEVER NICHOLAS | Debt has become an unavoidable part of modern life for many individuals, enterprises and households. Whether it’s student loans, credit card debt, or mortgages, managing debt has become a pressing concern. When managed well, it is a source of success, when mismanaged, the repercussions are …

Kampala, Uganda | THE INDEPENDENT |Solar and asset financing firm M-Kopa has secured Kshs35 billion ($255 million) financing in new debt and equity from Standard Bank and Japanese-based trading house Sumitomo Corporation among others for expansion in sub-Saharan Africa. M-Kopa said the capital injection includes Kshs7.5 billion ($55 million) in …

Kampala, Uganda | THE INDEPENDENT | The East African Crude Oil project is seeking a 1.8-billion-dollar debt for construction to take off. The project has been estimated to cost between $3.5 billion and $4 billion, of which 60 percent comprises debt raising and 40 percent equity. Energy and Minerals Development Minister, …

Even if they manage to convince their creditors to restructure their debts, commodity-exporting debtor countries are still vulnerable to sudden price fluctuations COMMENT | Jeffrey Frankel | The world is in the midst of a debt crisis. A recent report estimates that 61 emerging-market and developing economies nearly one-third of the International …

Kampala, Uganda | THE INDEPENDENT | Public debt repayments in some African countries are at their highest levels since 1998. The Conversation Africa’s founding editor Caroline Southey talks to dean and economics professor Philippe Burger about the danger of debt problems some African countries face. What’s behind the spike in debt …

Nairobi, Kenya | Xinhua | Kenya’s National Treasury said Wednesday that it intends to issue syndicated bonds in local currency in the financial year 2023/2024 as it explores new ways to raise money to finance the country’s 3.6 trillion shillings (about 28.56 billion U.S. dollars) budget. The Treasury said in its …

Kampala, Uganda | THE INDEPENDENT | The government is getting many of its economic priorities wrong which could plunge it into deeper crisis even as it tries to recover from the effects of a three-year global slowdown, according to experts. Economic and financial experts say the critical areas that need special …

Western lenders for long have not been put on the spotlight for debt relief because they successfully managed to dupe the world that it’s only Chinese lenders that pose a threat to Africa Beijing, China | Xinhua | Like many senior U.S. officials who have visited Africa, U.S. Treasury Secretary Janet …

Kampala, Uganda | THE INDEPENDENT | The Opposition in Parliament has said that the proposed resource envelope for the next financial year 2023/2024 is unrealistic based on the proposed tax revenue collections and the country’s debt stock. This is according to a minority report on the proposed National Budget Framework paper …