Tag Archives: IMF

What international money lenders fear most about 2021 Kampala, Uganda | THE INDEPENDENT | Increased government spending and borrowing as President Yoweri Museveni seeks re-election could destabilise the economy in FY2020/21. That is the view of the latest report by the international credit rating agency, Fitch. It is backed by …

Kampala, Uganda | XINHUA | The International Monetary Fund (IMF) on Wednesday revised down its forecast for the global economy amid the mounting COVID-19 fallout, projecting a 4.9-percent contraction in 2020. The latest projection is 1.9 percentage points below the World Economic Outlook (WEO) forecast released in April, indicating a …

Johannesburg, South Africa | AFP | The International Monetary Fund (IMF) on Thursday warned that coronavirus could further weaken sub-Saharan Africa’s ability to adapt to climate change, as measures to contain the pandemic stretch limited resources. A recent study on the impact of rising temperatures and extreme weather events on growth suggests sub-Saharan Africa — …

How a post-pandemic revival could kick-start continental free trade area | FAIZEL ISMAIL | The African Continental Free Trade Area was launched two years ago at an African Union (AU) summit in Kigali. It was scheduled to be implemented from July 1, 2020. But this has been pushed out until …

Kampala, Uganda | THE INDEPENDENT | Government has revised its proposal to borrow money to mitigate the effects of coronavirus by up to 1.3 trillion shillings. On April 2, the government presented a motion to borrow up to 1.7 trillion shillings to cushion the economy from the effects of COVID-19. …

Kampala, Uganda | THE INDEPENDENT | Uganda Development Bank -UDB will be placed under the watch of Bank of Uganda with the aim of strengthening it. UDB is 100 percent owned by the government and has been self-regulating, audited by the Auditor General and reporting to parliament to answer queries …

Kampala, Uganda |  THE INDEPENDENT |  The International Monetary Fund on Wednesday approved USD 491.5 million (1.9 trillion Shillings) in emergency funding for Uganda to address the impact left by the coronavirus on the economy.  The money is approved under the Rapid Credit Facility program that is meant to help poor …

  How issuance of the IMF’s reserve asset, Special Drawing Rights, could ensure international liquidity COMMENT | JIM O’NEIL AND DOMENICO LOMBARDI | Owing to the COVID-19 pandemic, the International Monetary Fund estimates that, between now and the end of 2021, global GDP will suffer a cumulative loss of more …

Washington, United States | AFP | The growing use of export restrictions by governments can be “dangerously counterproductive” as the world deals with the coronavirus pandemic, the IMF and WTO warned Friday. The two institutions called on global leaders to commit to refrain from imposing or tightening controls on product sales, as they did at …

Washington, United States | AFP | International financial institutions and African leaders warned on Friday the continent needs tens of billions of dollars in additional money to fight the coronavirus pandemic despite debt freezes and massive pledges of support. In a joint statement, the World Bank and International Monetary Fund said …