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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

debt distress

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Africa

World Bank Cuts Kenya’s Growth Forecast to 4.7%

CNBCAfrica says the World Bank on revised Kenya’s 2024 economic growth projection down to 4.7% from an earlier estimate of 5.0%, attributing the downgrade to the effects of floods, anti-government protests, and sluggish fiscal reforms on Tuesday. Despite progress in stabilizing the exchange rate, increasing central bank reserves, and reducing inflation, Kenya remains at a high risk of debt distress, according to the bank's latest report.

todayDecember 11, 2024 7

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Opinion Pieces

World Leaders Must Re-boot Global Cooperation for Today and Tomorrow

  By the United Nations Secretary-General   Final negotiations are underway in New York for this month’s Summit of the Future, where Heads of State will agree on reforms to the building blocks of global cooperation. The United Nations has convened this unique Summit because of a stark fact: global problems are moving faster than the institutions designed to solve them. We see this all around us. Ferocious conflicts and […]

todaySeptember 9, 2024 9

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Africa

African countries can’t resolve their debt crisis under a system rigged against them

      By Carlos Lopes, University of Cape Town   The debt situation in many African countries has escalated again to a critical juncture. Twenty are in, or at risk of, debt distress. Three pivotal elements significantly contribute to this. Firstly, the rules governing the international banking system favour developed countries and work against the interests of African countries. Secondly, multilateral financial institutions such as the International Monetary Fund […]

todayMay 6, 2024 14

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