Browsing: paris club

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  • Uganda’s Public Debt sources from China and commercial banks have been increasing.
  • Finance indicates that the share of multilateral credit stood at 61.7 per cent, representing an 8.9 percent reduction from June 2016 when it was 70.6 per cent
  • Ministry of Finance data indicates that the share of commercial bank loans has been growing rapidly, with an increase of US$1.33b, or 10.39 per cent, by June 2022

According to the Status of Uganda’s Debt report, multilateral lenders remain the largest source of credit for Uganda. However, the report shows that the share of debt sourced from multilateral lenders has been decreasing, while other sources such as China and commercial banks have been increasing their share.

As of June 2022, data from the Ministry of Finance indicates that the share of multilateral credit stood at 61.7 per cent, representing an 8.9 per cent reduction from June 2016 when it was 70.6 …

Zimbabwe got US$961 in SDRs from the IMF. This had an immediate impact on the country's severely low gross international reserves. www.theexchange.africa

The lender stated during the conference that the country’s economic objectives were still under threat from unsustainable debt.
The government announced last week that external debt grew to US$13.7 billion in September, up from roughly US$10.7 billion the previous year.
Zimbabwe’s debt accounts for more than half of the country’s GDP.…

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th?id=OIPThe Paris Club (Club de Paris), a group of officials from major creditor countries has approved Kenya’s request for more debt relief to help it ease Covid-19 related financial weight.

Formed in 1956, the Paris Club, which works to find sustainable solutions to payment difficulties experienced by debtor countries, announced earlier this month that it had accepted Kenya’s request for debt-servicing suspension and gave the East African country a six-month leeway (January to June) before it resumes to pay its national debt.

“Kenya is committed to devoting the resources freed by this initiative to increase spending in order to mitigate the health, economic and social impact of the COVID19-crisis,” said the Paris Club.

Maybe the rest of East Africa can learn from Kenya and take advantage of the G20 bilateral creditors that offer what is called the Debt Service Suspension Initiative (DSSI). Launched last year, the DSSI serves to suspend …