Tag Archives: debt

Without comprehensive reform of the global financial system, Africa’s development and Europe’s stability will face growing risks COMMENT | Nana Akufo-Addo & Ulrich Volz | On November 24-25, African and European leaders met in Luanda, Angola, for the European Union-African Union summit. Marking 25 years of EU-AU partnership, the gathering was not …

How government’s borrowing spree is leaving citizens bearing the cost Kampala, Uganda | Julius Businge | At dawn, the roar of engines rises above the quiet streets of Entebbe as David Tumusiime, 47, prepares for his daily commute to Kampala. Like thousands of other motorists, he joins the line snaking toward the …

WASHINGTON, the United States | Xinhua | America’s gross federal debt has surged past 37 trillion U.S. dollars, a milestone reached earlier this month and five years sooner than pre-pandemic forecasts. Washington is now adding roughly 1 trillion dollars every five months, swelling a debt snowball that already costs nearly …

COMMENT | MAGALIE MASAMBA | Many African countries are already struggling with heavy debt burdens. Climate change is making this worse. Africa contributes the least to global emissions but suffers the most from extreme weather, rising temperatures and drought. These disasters affect not just people’s livelihoods but also national revenues, making …

BEIJING, CHINA | Xinhua | Recent remarks by U.S. officials accusing China of “flooding” global markets with exports and calling for a “rebalancing” of its economy are merely recycled arguments long used against China. These claims disregard the profound changes taking place as China advances toward high-quality and sustainable economic …

SACRAMENTO, United States | Xinhua | U.S. families are facing deepening financial distress amid rising costs of living, with many forced to take on debt, skip meals or forgo medical care to make ends meet, recent surveys have shown. According to a survey released last week by the Century Foundation, …

Kampala, Uganda | THE INDEPENDENT | As Africa marked the anti-corruption fight day, Uganda was urged to reconsider her own way of dealing with the vice, if a headway is to be made, since the institutions are in place. This is because, despite the several efforts the country has put …

Uganda among the countries that are currently trapped in the high debt repayment crisis Kampala, Uganda | THE INDEPENDENT |  Since 2010, developing countries’ debt has grown twice as fast as that of advanced economies. Today, 3.4 billion people live in countries spending more on interest payments than on health or …

Kampala, Uganda | THE INDEPENDENT | The East African Community has grappled with the issue of non-tariff barriers (NTB) or barriers to trade for as long as it has existed, despite the existence of what experts see as adequate legal frameworks. All the countries, at least going by the proclamations …

Kampala, Uganda | THE INDEPENDENT | Experts have urged Uganda to avoid taking loans for which they never prepared and planned, as this distorts growth and development. This comes as the country embarks on what many have termed “ambitious”, a journey to grow the economy from the current 53 Billion …