Monrovia — The Liberia Bank for Development and Investment (LBDI) has distanced itself from publications claiming that the bank has disclosed a list of borrowers, some of whom are high-profile individuals in the county. The bank in a release signed by its President noted that the list is purported and does not represent the view […]
Tag: Debt
Johannesburg, South Africa — Long-running tensions between the major international lenders and China were aired at a meeting in China’s Anhui province, where participants sought agreement on a way forward for some of the world’s most indebted countries, many of them in Africa. Representatives of the International Monetary Fund, World Bank, and Beijing’s finance ministry […]
Edo State is no longer on the list of top ten most indebted states in Nigeria, a statement disclosed yesterday. It quoted the Debt Management Office (DMO) third quarter 2022 data on the state of Nigeria’s debt stock to have revealed this. According to the statement, the country’s total domestic debt stocks for all states, […]
The Kwazulu — Natal Executive Council has established a technical committee to focus on the debt owed by government to municipalities. In a statement issued on Thursday following a Provincial Executive Council meeting held this week, Premier Nomusa Dube-Ncube said the debt owed is reported at R2.8 billion and includes an amount of R420 million […]
Africa is facing some impossibly difficult choices when it comes to financing its development. Countries need hundreds of billions of dollars each year to meet their climate, poverty, unemployment and inequality challenges. They cannot meet these needs only from their own resources, grants and concessional sources. They will have to tap international capital markets. But […]
Nigeria’s debt owed to China accounts for 83.57 percent of its total bilateral debt as of June 30, 2022, totalling $3.9 billion. China is expected to account for 66 percent of the debt-service payments International Development Association (IDA) countries will be making on their official bilateral debt in 2022, the World Bank has said. The […]
The World Bank, yesterday, said that Nigeria spent $9.6 billion to service foreign debts in 12 years, from 2010 to 2021, adding that the nation’s debt stock is not reflected in the economy. The World Bank disclosed this in its International Debt Report, IDR, which showed that Nigeria’s foreign debts rose astronomically by 305 per […]
The director-general of the Debt Management Office (DMO), Ms Patience Oniha, has stressed the need for Nigeria to operate an efficient tax administration to tackle revenue challenges. Oniha stated this at the 2022 Capital Market Correspondents Association of Nigeria (CAMCAN) with the theme: ‘Nigeria’s Public Debt and the Capital Market’ at the weekend in Lagos. […]
Due to falling foreign aid and loans, government borrowed an additional $900 mn from local banks and bondholders, reported Bank of Mozambique (BdM) in its quarterly economic report (2 Dec). Government domestic borrowing is $4.3 bn, up 25% since December 2021, according to BdM. Domestic borrowing has doubled in three years – in December 2019 […]
There is damning evidence against 10 of the 19 people accused in the $2 bn secret debt trial, but no evidence against 9 lesser figures who had handled money but had no reason to know it was stolen, said Judge Efigenio Baptista in the first four days of delivering his verdict. Total bribes paid by […]
Eskom says it has approached the Department of Cooperative Governance and Traditional Affairs (Cogta) to mediate in the debt repayment matter between the power utility and the City of Tshwane municipality. “The Public Finance Management Act requires that institutes recover what is owed to them. It is for this reason that Eskom sought the intervention […]
The International Monetary Fund (IMF) has confirmed that government of Ghana has declared its intention to conduct a debt restructuring in 2023. A notice posted on the fund’s website said the Ghanaian authorities “Have assessed their public debt as being unsustainable over the medium term. Together with efforts to bring the government deficit down, they […]
Accra, Ghana — Ghana’s finance minister says the country is at high risk of debt distress as the currency, the cedi, has depreciated against the U.S. dollar, increasing its foreign debt by $6 billion this year alone. Ghana on Thursday announced more spending cuts, including a freeze on government hiring and a hike in the […]
The Government of Ghana is considering a debt operation to alleviate the pressures on the national budget and restore debt sustainability. This will open up financing streams and provide a needed balance of payment support from the International Monetary Fund. This was contained in a press statement issued by the Ministry of Finance on Thursday, […]
Cape Town — Amendment to Finance Bill Will See Clampdown on Money Laundering, Terror Financing Finance Minister Enoch Godongwana welcomed the passing of the amended Finance Bill by the National Council of Provinces (NCOP) yesterday. The minister said this marks a significant milestone in actions taken by South Africa to address deficiencies – identified […]
Geneva — In this moment of profound challenge in international relations, it was understandable that the conclusion of the G20 meeting left leaders feeling relieved that the meeting took place without a breakdown. Leaders were justifiably proud too of important steps forward they made including the launch of the new pandemics fund. But G20 leaders […]
Sharm el-Sheikh — Finding sustainable forms of energy is one of the critical global challenges we face when dealing with the climate emergency and that means an urgent move away from fossil fuels. One tool that helps to evaluate the progress that countries make on their climate policy is the Climate Change Performance Index compiled […]
MOST women entrepreneurs in the country can easily acquire loans, thanks to friendly conditions set by lenders in their bid to address challenges impeding small scale women traders in accessing financing. The NMB Bank Head of Government Business, Vicky Bishubo said that the bank has created products like Fanikiwa Account to empower women economically and […]