However, the growth is insufficient to have a significant effect on poverty reduction ANALYSIS | AGENCIES | Increased private consumption and declining inflation are supporting an economic rebound in Sub-Saharan Africa. However, the recovery remains fragile due to uncertain global economic conditions, growing debt service obligations, frequent natural disasters, and escalating …
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SPECIAL REPORT | THE INDEPENDENT | African economies are projected to grow by 3.4 percent this year, according to the World Bank report, which rues the inability of these growth rates to eradicate poverty. The growth is deemed impressive, considering that last year, the economies grew at just 2.2 percent, however, …
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Kampala, Uganda | THE INDEPENDENT | The Financial Action Task Force (FATF) – the global anti-money laundering watchdog— estimates that environmental crime is one of the most profitable criminal enterprises, generating around USD 110 to 281 billion in criminal gains each year; however, its latest figures suggest that less than 1 …
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Country vulnerability indices should be multidimensional, adaptable, and emphasise challenges COMMENT | PATRICK GUILLAUMONT | Last October, at the Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund in Marrakesh, member countries emphasised the urgency of scaling up development finance. In recent years, an extraordinary confluence of …
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Kampala, Uganda | THE INDEPENDENT | The World Bank has warned that the continued under-investment in human capital development is greatly affecting the individual productivity of Ugandans, and will likely stifle the growth trends. According to the 22nd Edition of the World Bank’s Uganda Economic Update, the economy continues to recover …
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NAIROBI, KENYA | Xinhua | Kenya’s economy grew 5 percent in 2023, up from 4.8 percent in 2022 despite continued challenges, the World Bank said in a report released recentlyy. According to the World Bank’s 28th edition of Kenya Economic Update (KEU), the improved growth was buoyed by a strong …
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Kampala, Uganda | THE INDEPENDENT | The government has formally approached the World Bank requesting an extension of funding for projects under the Uganda Support for Municipal Infrastructure Development (USMID) program. This request comes after Multiplex Construction Company Limited, the contractor responsible for works in Mbarara City, Ntungamo, and Kabale …
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Kampala, Uganda | THE INDEPENDENT | The Ugandan government plans to seek funding from the World Bank to train and equip its artistes with technical skills to meet international standards, the Minister of State for Gender and Culture Affairs, Peace Mutuuzo revealed. Peace Mutuuzo said the government has concluded plans to …
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Given cautious welcome as questions linger remain over unfulfilled promises 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-October. The city and country are still reeling from a devastating earthquake in early September. …
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Africa is to gain additional seats on the influential boards of the International Monetary Fund (IMF) and World Bank, elevating the region’s clout in global finance governance. This comes as African nations look to carve out space to act with greater agency and self-determination, both in continental and world affairs. …
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The Independent Uganda: You get the Truth we Pay the Price