Tag Archives: IMF

Imposing a uniform policy approach on African countries has only worsened crises, limiting their policy space ANALYSIS | CARLOS LOPES | The annual meetings of the World Bank and International Monetary Fund (IMF) are due to take place in Marrakech, Morocco, in mid-this month. The city and country are still reeling …

Nairobi, Kenya | THE INDEPENDENT | Interest rates on external debt are hampering efforts by African governments to harness their resources for the green energy transition. President William Ruto of Kenya said that while Africa is endowed with vast renewable energy resources, it is being limited by high-interest rates on …

Nairobi, Kenya | THE INDEPENDENT | The UN Secretary-General, António Guterres has called for urgent reforms at the World Bank and the International Monetary Fund saying their policies are unfair to Africa which is faced with a debt crisis. The UN Chief who was in Nairobi at the high-level Africa Climate Summit said …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has assured the banking and financial industry that it will ensure its stability and the sustainability of the microeconomics of the country amidst the withdrawal of the World Bank from new loan deals. The World Bank decision communicated last week …

Frankfurt, Germany | Xinhua | Germany’s economy, the largest in the European Union (EU), stagnated in the second quarter of 2023 with zero growth, according to Eurostat, the statistical office of the EU. The International Monetary Fund (IMF) has recently revised its forecast for the German economy in 2023 down …

How the IMF Resilience and Sustainability Facility and innovative climate finance can lessen challenges COMMENT | ALI MANSOOR & AWA MBAYE | African countries have been encouraged to seek alternative funding schemes to tackle climate change impacts whose effects have been exacerbated by the Covid-19 pandemic, the Russian-Ukrainian war, geopolitical fragmentation, …

New York, US | Xinhua | Global growth is projected to fall from an estimated 3.5 percent in 2022 to 3.0 percent in 2023 and 2024, and China’s growth will stay unchanged at 5.2 percent for 2023 and 4.5 percent for 2024, said the International Monetary Fund (IMF) on Tuesday. …

Kampala, Uganda | THE INDEPENDENT | Uganda has been cleared to receive another 120 million dollars (440 billion shillings) loan under the Extended Credit Facility (ECF) of the International Monetary Fund. The IMF Executive Board on Wednesday concluded the fourth review of Uganda’s ECF, And this now enables the immediate …

NEWS ANALYSIS | THE INDEPENDENT | Uganda’s debt stock has witnessed a significant surge over the past decade, primarily driven by the government’s intensified investment in infrastructure projects. This trend gained further momentum in the fiscal year 2020/2021 during the COVID-19 pandemic. The total national debt, (domestic and external) increased …

Nairobi, Kenya | Xinhua | International Monetary Fund (IMF) Managing Director Kristalina Georgieva has expressed confidence in the Kenyan government’s economic recovery program. Georgieva, who is on a visit to Kenya, lauded the country’s decision to prioritize investment in agriculture and Micro and Small Enterprises (MSESs) that offer quick turnaround results. …