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Tag Archives: IMF

Interest rates pushing Africa further into climate chaos

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 …

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UN chief says IMF, World Bank need urgent reforms

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 …

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New climate change funds for Africa

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, …

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National Debt: Uganda’s 30 foreign lenders

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 …

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IMF chief lauds Kenya’s economic recovery program

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. …

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