Tag Archives: debt

Washington, U.S. | Xinhua | World Bank Group President David Malpass said on Wednesday that the COVID-19 pandemic is pushing up poverty and debt levels in low-income countries, highlighting a “tragic reversal” in development. “It’s already pushed nearly 100 million people into extreme poverty. That’s the added number in extreme poverty,” …

Kampala, Uganda | THE INDEPENDENT | The Ministry of Finance, Planning and Economic Development has said the new $900 million (about 3.1 trilling Shilling) loan government plans to borrow from the International Monetary Fund -IMF will not cause a substantial increase of Uganda’s rising public debt. Responding to questions at Uganda Media …

 To borrow or not to borrow for infrastructure? Kampala, Uganda | IAN KATUSIIME | Julius Kapwepwe, the director of programmes at Uganda Debt Network, a debt monitoring NGO, Uganda’s national says, to control the country’s spiraling debt, the Ministry of Finance officials must ask themselves some questions every time they …

It holds 62% of Africa’s bilateral debt which rose from 1% of GDP to over 15% in a decade  COMMENT | PAOLA SUBACCHI | The pandemic is confronting highly indebted poor countries with a fateful dilemma. As Ethiopian Prime Minister Abiy Ahmed, a Nobel Peace Prize laureate, lamented last April, …

Kampala, Uganda | THE INDEPENDENT | A teacher has committed suicide in Oyam district allegedly over debt. The deceased has been identified as Aldo Ocen, 65, a teacher at Ayomjeri primary school in Aber sub county, Oyam district. Ocen, a resident of Akudi-Igida village, Adel Parish in Minakulu sub county consumed …

The continent’s debt-service payments in 2020 amount to $44 billion which is a lot of money COMMENT | COBUS VAN STADEN | The COVID-19 crisis is pushing Africa to the financial brink. African governments are under pressure to continue servicing their external loans, leaving them with few resources to confront …

Kampala, Uganda | THE INDEPENDENT | Gulu Regional Referral Hospital is struggling to pay 262 million shillings debt incurred from Covid-19 activities. James Elima, the hospital director disclosed on Thursday that the hospital purchased food worth 190 million shillings for feeding Covid-19 suspects and patients at the quarantine and treatment …

  Absa has reacted swiftly to the COVID-19 pandemic by designing, offering and implementing smart solutions and offering significant financial respite during these times. COMMENT | Vimal Kumar | When a crisis of the magnitude of Covid-19 strikes, it is our role as a responsible lender to put forward various immediate and …

Kampala, Uganda | THE INDEPENDENT | Government through the Finance and Economics Development Ministry is among others looking at reducing reliance on debt by increasing domestic revenue and improving the execution rate of projects as some of the ways to sustain the country’s debt. As at end of June 2019, …

Kampala, Uganda | THE INDEPENDENT | The National Economy committee of Parliament has asked the government to scale down debt contracting to only projects that have high economic and financial returns, and target cheaper concessional loans to finance investments. According to the committee, as the country’s external debt position faces …