debt

Somalia Embassy Refutes Contractor's $256,000 Claim in Nairobi NAIROBI, Kenya - Somalia firmly denies allegations suggesting it owes a contractor a substantial $257,000 for embassy renovations in Nairobi. This response comes in light of a legal claim demanding full payment for purported services rendered. Mohamud Ahmed Nur Tarsan, previously Somalia’s envoy to Kenya, swiftly dismissed the accusations as 'groundless and unfounded.' He asserted that the contractor had been compensated completely and labeled the claims as…

A snapshot captures the Nairobi Expressway in Nairobi, Kenya, on May 8, 2022. REUTERS/Thomas Mukoya/File Photo Purchase Licensing Rights Kenya's auditor general has embarked on a thorough examination of the nation's debt, aiming to quantify what is owed to different creditors, Finance Minister John Mbadi revealed to Reuters on Monday. In the heart of East Africa, Kenya's debt is towering at 10.5 trillion shillings ($81.71 billion). The audit of these borrowings was a critical outcry from anti-tax hike demonstrators in…

Somalia contended that the embassy's accounts at Premier Bank Limited should be shielded by diplomatic immunity. Yet, Justice Mabeya pointed out that Article 31 of the Vienna Convention on Diplomatic Relations (1961) doesn't cover commercial dealings. He decreed that sovereign immunity is inapplicable to states partaking in business activities like contractual engagements. The Somali embassy's envoy, Jabril Ibrahim Abdulle, declared in an affidavit that the contested funds comprised fees from those applying for passports…

A historic trial five years ago, this corruption case had plunged the country into the most serious financial crisis since its independence and involved part of the Mozambican political class. On the bench off the accused: nineteen people, accused of extortion, forgery, embezzlement or even money laundering, for amounts of…

MOGADISHU, Somalia - The Federal Republic of Somalia should use debt relief to repair dilapidated health infrastructure, suggests a report compiled by Amnesty International, as the country now struggles to contain the Covid-19 situation. The report was titled 'We Just Watched Covid-19 Patients Die' - Covid-19 Exposed Somalia's Weak Health System, But Debt Relief Can Transform It, Shows How Covid-19 Revealed a series of pre-existing weaknesses in Somalia's health system. At least more than 40 people were interviewed,…

The summit on the financing of African economies can be held in Paris on Tuesday 18 Could. In April 2020, a moratorium was established by the Paris Membership and the G20 for greater than 70 international locations. This deferral of curiosity funds, which has been prolonged till the tip of June 2021, covers $ 5.7 billion. Senegal is apprehensive, amongst different issues. What was using this…

For the reason that Covid-19 disaster, the nation has been the primary to request a rescheduling of its debt. It reaches virtually half of GDP if we bear in mind each overseas and home debt. The IMF has intensified its assist packages and promised to offer $ 560 million over the following 4 years. Chadian corporations, which are sometimes closely depending on the state, are eagerly awaiting the arrival…

Sudan's companions are taking a look at the debt difficulty on this nation, which is essentially the most indebted in Africa on Monday 17 Might in Paris. Sudan's debt reduction is a precedence for the IMF, but additionally a precedence for international locations that help political transition. Underneath a US embargo for twenty years, the nation not had entry to sources of worldwide funding, however…

This was revealed by Modeste Bahati Lukwebo, the successor to Alexis Thambwe Mwamba, at the head of the upper house of parliament. This economic situation in the Senate was brought to the attention of the President of the Republic ahead of the parliamentary re-entry scheduled for tomorrow Monday. as reported from Kinshasa,…

This was one of the highlights of Africa in 2020, the debt issue. From the beginning of the Covid-19 pandemic, rich countries looked at how to ease the burden on public finances. Measures have been taken, but much remains to be done to allow African countries to regain budgetary space and thus finance the recovery. LeCovid-19…