Tag Archives: economy

Kampala, Uganda | Isaac Khisa | Coronavirus pandemic currently ravaging the entire world presents an opportunity to reset the African continent so that the African population can be empowered to become more productive and self-reliant, according to the United Bank for Africa Plc. Chairman and Founder, Tony Elumelu. Elumelu, who spoke …

Washington, United States | AFP | The US is facing a severe economic downturn amid the global pandemic, but will not suffer another Great Depression and will see a recovery begin later this year, Federal Reserve Chair Jerome Powell said Sunday. The world’s top economy was strong before the COVID-19 outbreak hit, like a natural …

Khartoum, Sudan | AFP | Inflation in Sudan jumped to 99 percent because of rising food prices, official figures showed Saturday, more than a year after the country was rocked by protests sparked by bread price hikes. The inflation rate in April shot up from 82 percent the previous month due to increased prices of …

Washington, United States | AFP | Two top US economic advisers on Sunday defended the need for an expeditious reopening of the economy even as the coronavirus reached into the White House despite the extraordinary precautions taken there. The comments by Treasury Secretary Steven Mnuchin and economic adviser Larry Kudlow came …

Kampala, Uganda | THE INDEPENDENT | The Archbishop of the Church of Uganda the Most Rev. Dr. Stephen Kaziimba Mugalu has appealed to government to consider plans of stimulating the economy as well as support affected businesses and livelihoods in the face of the coronavirus (COVID-19) pandemic. According to the …

Kampala, Uganda | THE INDEPENDENT | Economists have cautioned the government against taking loans to stimulate the economy in the course of COVID-19 lockdown. They say that relying on loans is a bad idea that could leave Uganda in more trouble. The caution comes amid a scramble by African countries …

Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni has issued a firm assurance to Ugandans that the economy and therefore their businesses will not be hit by the coronavirus pandemic. Evidently staying clear of the issue of stimulus to business, Museveni said while he understood businesses in tourism and …

Kampala, Uganda | THE INDEPENDENT | Uganda’s economy started feeling the hit from the coronavirus (COVID-19) as early as February before the lockdown, a report has revealed. According to the Ministry of Finance, March 2020 performance of the economy report states by start of February, external demand for the country’s …

New York, United States | AFP | Oil prices ended New York trading in the negative on Monday for the first time ever, as a supply glut forced traders to pay others to take the commodity. With space to store oil scarce, US benchmark West Texas Intermediate for May delivery ended …

Washington, United States | AFP | The IMF and World Bank have aggressively pushed out financing to help countries deal with the health and economic impacts of the coronavirus pandemic. Here is a summary of the financing available from the Washington-based development lenders: – Regular lending capacity – All members …