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Tag Archives: recession

Going back to austerity “will be a mistake”: UK PM

Kampala, Uganda | XINHUA | British Prime Minister Boris Johnson warned Monday of bumpy times ahead amid a looming recession in Britain, but insisted there would be no return to austerity in the country. In a broadcast interview on the Times Radio newly launched in London, Johnson said he was …

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Elevated extreme poverty to persist through 2021: World Bank

Washington, United States | AFP | Global economic growth could rebound next year but the number of people living in extreme poverty is expected to remain unchanged, the World Bank warned Tuesday. The projection came after the Washington-based development lender said Monday the coronavirus pandemic could drive between 70 and 100 million people into extreme …

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Stock markets surge on swift recovery hopes

London, United Kingdom | AFP | Growing optimism about a swift global economic recovery pushed equity markets sharply higher Wednesday, as investors took heart from further easing of lockdowns while looking past China-US tensions and civil unrest across America. The upbeat mood — and hopes for an extension to a massive …

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Stocks mixed on US riots, virus lockdown easing

London, United Kingdom | AFP | Global stock markets were mixed Monday, with US investors keeping a wary eye on violent anti-racism protests across the country and simmering tensions with China over Hong Kong. In Asia and then Europe, the focus was on the progressive easing of coronavirus lockdowns, offering hope …

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Uganda Investment Authority says Uganda is already in recession

Kampala, Uganda | THE INDEPENDENT | The Uganda Investment Authority-UIA the body in charge of attracting investors in Uganda has said that the economy is already in recession due to the COVID-19 pandemic. UIA Acting Executive Director Lawrence Byensi says that they have received calls from investors telling them that they …

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Pandemic may cause Africa’s 1st recession in 25 years: World Bank

Johannesburg, South Africa | AFP | The World Bank warned Thursday that sub-Saharan Africa could slip into its first recession in a quarter of century because of the coronavirus pandemic on the world’s most impoverished continent. “We project that economic growth in Sub-Saharan Africa will decline from 2.4 percent in 2019 …

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