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Tag Archives: debt

US Senate approves Trump deal on hurricane aid, debt ceiling

Washington, United States | AFP | The US Senate passed a $15.25 billion relief package Thursday for victims of Hurricane Harvey, in an effort to fully fund federal emergency operations as another potentially catastrophic storm bears down on Florida. The package passed 80 to 17 one day after President Donald Trump …

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MP Mubarak Munyagwa sent to Luzira

Kawempe South Member of Parliament (MP) Mubarak Munyagwa Sserunga alias “Mugaati gwa Bata” has been committed to civil prison for failure to pay sh100 million he owes one John Baptist Maali. Munyagwa was arrested on Monday and taken  to cCourt by Kyalula Edward Aipha Court bailiffs. He was sent to Luzira Prison …

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Kenya sells first ever mobile government bonds

Nairobi, Kenya | AFP |  Kenya, a pioneer in mobile money, on Thursday began selling the first ever government bonds via mobile phone, allowing anyone from teachers to shop owners to invest and fund infrastructure projects. The bond is named M-Akiba, which means “mobile savings” in Swahili, and was launched …

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IMF chief says Egypt in currency ‘crisis’

Cairo, Egypt | AFP |  IMF chief Christine Lagarde said Thursday that Egypt is going through a currency “crisis,” suggesting a quick devaluation to tackle a widening gap between the official and black market rates. Egypt has been struggling to shore up its foreign currency reserves in the political and …

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Mozambique explains $1.4 bn hidden debt

Maputo, Mozambique | AFP | Mozambique on Tuesday said most of $1.4 billion in previously hidden loans had been used to fund maritime security and shipyards, a week after the IMF suspended the country over the undisclosed sum. The Washington-based International Monetary Fund last Wednesday called off a staff mission …

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