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 …
Read More »Uganda could be most resilient in East Africa this year – IMF
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% …
Read More »Pandemic causing deep recession, and it could get worse: IMF
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 …
Read More »IMF approves debt relief for 25 poor countries
Washington, United States | AFP | The International Monetary Fund on Monday announced immediate debt relief for 25 poor countries to help them free up funds to fight the coronavirus pandemic. “This provides grants to our poorest and most vulnerable members to cover their IMF debt obligations for an initial phase over the next six …
Read More »COVID-19: World bank, IMF call for debt relief for poorer countries
Kampala, Uganda | THE INDEPENDENT | The World Bank and International Monetary Fund have called for the suspension of debt repayments for poorer countries as many of them turn to focus on battling the Coronavirus (COVID -19). In a joint statement on Wednesday night, the two multi-lateral lenders said the Coronavirus …
Read More »IMF warns coronavirus recession could be worse than 2009
Washington, United States | AFP | The world economy is facing “severe” economic damage from the coronavirus pandemic that could be even more costly than in 2009 and will require an unprecedented response, IMF chief Kristalina Georgieva said Monday. Georgieva called on advanced economies to provide more support to low income countries, which face a …
Read More »World Bank avails US$12bn to fight Coronavirus
The lender will also provide policy and technical advice to ensure countries access global expertise | PATRICIA AKANKWATSA | As the world grapples with the spread of Coronavirus (COVID-19), the World Bank Group is making available an initial package of up to US$12 billion in immediate support to assist countries …
Read More »Without reforms, Gulf oil wealth could vanish by 2034: IMF
Dubai, United Arab Emirates | AFP | Energy-addicted Gulf states must undertake much deeper reforms or risk seeing their wealth drain away in 15 years as global demand for oil slides, the IMF warned Thursday. “At the current fiscal stance, the region’s financial wealth could be depleted by 2034,” the International …
Read More »IMF cuts Uganda’s growth projection
Kampala, Uganda | THE INDEPENDENT | The International Monetary Fund-IMF has slashed Uganda’s growth projection from 6.3% to 6% this year, citing the country’s challenges to get oil out of the ground and government’s inability to do all budgeted activities. After assessing the economy, the IMF said Uganda had challenges to …
Read More »Who’s buying biggest guns?
Latest in Uganda, Rwanda, Kenya, Burundi firepower | THE INDEPENDENT | Countries in the East African region continue to spend more on strengthening their armed forces, according to latest data. Although Kenya and Tanzania are the biggest spenders because of their relatively big budgets, most attention is on Uganda, Rwanda, …
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