Tag Archives: economic crisis.

  Nairobi, Kenya | Xinhua | Financial experts on Tuesday called for the effective implementation of measures in order to avert an economic crisis in Africa. Catherine Pattillo, deputy director of the African Department at the International Monetary Fund (IMF), said in Nairobi, Kenya’s capital, that the global recession coupled with …

London, UK | Xinhua | Britain’s new Prime Minister Rishi Sunak on Tuesday pledged to “fix the mistakes” made by the Truss government and restore the country’s economic stability, while warning there will be “difficult decisions to come.” “Right now, our country is facing a profound economic crisis,” Sunak said in …

Markets are witnessing an economic stagnation under lack of purchasing power and unprecedented hike in the prices of basic commodities Khartoum, Sudan | Xinhua | Concerns are growing that the economy in Sudan would further deteriorate amid the continued decline of the national currency Sudanese pound, the unprecedented rising prices of …

Santiago, Colombia | XINHUA | The economic crisis caused by the novel coronavirus pandemic is the “most synchronized” in history and its prospects of recovery is quite uncertain, Colombian economist Jose Antonio Ocampo said on Saturday during a virtual conference. “It is much faster than the Great Depression of the …

Copenhagen, Denmark | AFP | European governments should not cut healthcare spending during the current economic crisis sparked by the coronavirus pandemic and associated lockdowns, the World Health Organization warned on Thursday. “We are concerned that countries will respond to this crisis in the same way they did to the recession 10 years ago… by …

New York, United States | AFP | Faced with the calamitous fallout from the coronavirus on airline customers and the broader economy, Boeing found itself in an unfamiliar and uncomfortable position in March. The company, a longtime symbol of American industrial power, was unable to raise the funds to finance its …

Athens, Greece | AFP |  Ten years after sinking into its worst economic crisis in living memory, Greece once again faces the spectre of a grave recession in the midst of a global coronavirus lockdown. Though the country has so far been spared the death toll of other European nations at …

Johannesburg, South Africa | AFP | The World Bank warned Thursday that sub-Saharan Africa could slip into its first recession in a quarter of century because of the coronavirus pandemic on the world’s most impoverished continent. “We project that economic growth in Sub-Saharan Africa will decline from 2.4 percent in 2019 …

Paris, France | AFP | With disparate and at times conflicting responses to the deadly coronavirus outbreak, governments across the globe are abandoning any pretence of joint action and instead putting their own health, economic and diplomatic interests first, analysts say. From the United States to Europe, governments have in recent …

Harare, Zimbabwe | AFP |  Former Zimbabwe leader Robert Mugabe will be given a state funeral on Saturday with a dozen African leaders expected to pay tribute to a man lauded as a colonial-era liberation hero. Mugabe, who died last week in Singapore aged 95, left Zimbabwe torn over the legacy …