Tag Archives: economy

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 …

Kampala, Uganda | THE INDEPENDENT | Uganda could emerge from the COVID-19 crisis as the most resilient compared to the other countries in the region, the International Monetary Fund (IMF) has said. In the latest report of the global outlook for 2020, the IMF says Uganda’s growth will be 3.5% …

  Washington, United States | AFP | President Donald Trump announced Tuesday a suspension of US funding to the World Health Organization because he said it had covered up the seriousness of the COVID-19 outbreak in China before it spread around the world. Trump told a press conference he was …

Washington, United States | AFP | The coronavirus pandemic is pushing the global economy into its deepest recession in a century, cutting world output by three percent this year, the International Monetary Fund said Tuesday. If the virus is contained and economies can begin operating again, 2021 should see a rebound …

Kampala, Uganda | Godfrey Ssali | A section of MPs have advised President Museveni to cushion the economy against the effects of Covid-19 with a stimulus. The Stimulus, MPs led by Kampala Central’s Muhammad Nsereko said, includes the stay of all loan repayments, lowering of the Central Bank lending rate, as well …

Tokyo, Japan | AFP | The 2020 Tokyo Olympics have been postponed to no later than the summer of 2021 because of the coronavirus pandemic sweeping the globe, the International Olympic Committee announced Tuesday. The Games were scheduled for July 24-August 9, but after telephone discussions between IOC president Thomas …

Kampala, Uganda | THE INDEPENDENT | Government needs to devise means of protecting the economy from crumbling as a result of the temporary shutdown of key businesses because of the coronavirus. Makerere University Business School-MUBS Economics Lecturer and Policy Analyst, Ramathan Ggoobi says the coronavirus (COVID-19), which has since been declared …

Tokyo, Japan | AFP | The Bank of Japan on Monday unveiled a series of emergency monetary policy measures to shore up the world’s third-largest economy, as the coronavirus pandemic threatens a global recession. In a meeting brought forward by two days, the BoJ said it would double its annual …