Photo: Credit AFP/Olivier Douliery/The International Monetary Fund Headquarters in Washington, DC. By Paul Wafula Kenya’s public debt has ballooned by more than Sh1 trillion in the last one year under the cover of fighting Covid-19 pandemic. This now makes the period between March 2020 and March 2021 as Kenya’s worst in terms of borrowing, after

Industrialisation, Trade and Enterprise Development CS Betty Maina during SMEs Conference. The Biden administration will review bilateral trade negotiations and targets that ex-President Donald Trump regime made with Kenya last year over a potential free trading deal. The new US administration wants to make sure that the negotiations for a bilateral trade agreement and talks

Photo/Somali Times Acting Somali Minister of Finance Abdirahman Duale Beyle attended the annual meeting of the IMF and the World Bank, which took place on a long-distance basis. The week-long conference was also attended by all Arab finance ministers, according to a statement from the opening of the conference. After the meeting, Beyle had a

African Development Bank president says ‘it is time to put in place an African financial stability mechanism’ Africa needs debt relief, debt restructuring, and debt sustainability, the African Development Bank president said. Akinwumi Adesina was speaking at Monday’s UN Meeting on International Debt Architecture and Liquidity. He said: “It is time to put in place

President Joe Biden speaks during an event on COVID-19 vaccinations, in the South Court Auditorium on the White House campus, Monday, March 29, 2021, in Washington. (AP Photo/Evan Vucci) By JONATHAN LEMIRE, LISA MASCARO and JOSH BOAK WASHINGTON (AP) — President Joe Biden is aiming for summer passage of his sweeping $4 trillion infrastructure plan,

Stocks listed on the Nairobi Securities Exchange (NSE) lost Sh80.02 billion of their value yesterday as foreigner sold off shares in blue-chip firms over the new lockdown, making it one of single-largest drops in a day in the bourse’s history. The market capitalisation closed at Sh2.47 trillion compared to Sh2.55 trillion on Friday, with Safaricom,

Photo: Credit AFP/ US Securities and Exchange Commission Chairman Jay Clayton, speaks during a House Committee on Financial Services hearing entitled “Capital Markets and Emergency Lending in the COVID-19 Era. America stocks market regulator has suspended a Canadian firm from trading in the United States for failing to shed light on disclosures indicating it signed

File Photo/Somali Times The Executive Board of the International Monetary Fund granted additional interim assistance to Somalia under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative in an amount of SDR 0.68 million (about US$ 0.97 million) on a lapse of time basis. [1] This interim assistance will cover Somalia’s debt service obligations to the

A fleet of Kenya Airways planes at the Jomo Kenyatta International Airport in Nairobi. Kenya Airways (KQ) net loss has nearly tripled to Sh36.2 billion, the worst ever in the history of the airline, on account of Covid-19 disruptions that led to a sharp decline in passenger numbers. The loss, for the financial year ended

A merchant counts Turkish lira banknotes at the Grand Bazaar in Istanbul, Turkey, March 29, 2019. (Reuters Photo) The Turkish currency plummeted against the U.S. dollar on Monday after President Recep Tayyip Erdogan fired the central bank governor over the weekend for hiking interest rates. The lira was trading at around 7.9 against the dollar