Category Archives: Market
South Sudan Central Bank Lowers Interest Rates in Response to COVID-19
South Sudan’s central bank took steps Wednesday to bolster the economy amid the COVID-19 lockdown, but an analyst warned the economy will only improve after the government restores peace and security. The COVID-19 disease is caused by the coronavirus. The central bank lowered interest rates from 13% to 10% and lowered the cash reserve ratio from 15%
Anti-Racism Groups in Paris Call out Slave Trader Statues
Anti-racism groups are leading a “de-colonial tour” of Paris on Sunday to call attention to monuments and streets honoring historical figures tied to the slave trade or colonial-era abuses. The march, starting at the French capital’s Museum of Immigration, is being held on the 58th anniversary of Algeria’s independence from France after a long and
7 Plead Not Guilty to Looting More than $132 Million from South African Bank
Seven suspects accused of taking just over $132 million from VBS Mutual bank in South Africa have pleaded not guilty to dozens of fraud and theft charges. On Thursday, the court set their individual bail at $5,733. The suspects, including a former VBS executive, where arrested Wednesday during raids in Gauteng and Limpopo provinces. An
African Development Bank: ‘No Decision’ Yet on Demands for Probe
The African Development Bank (AfDB) on Thursday said “no decision” had been taken regarding a U.S. push for an outside probe into its chief, accused by whistleblowers of ethics breaches. U.S. Treasury Secretary Steven Mnuchin says Washington is dissatisfied with the outcome of an internal inquiry that has exonerated AfDB chief Akinwumi Adesina. The chair
Zimbabwe Welcomes Removal of Its Banks from US Sanctions List
Zimbabwe welcomed the U.S. decision Thursday to remove two of its banks from the sanctions list, saying the move will allow them to easily obtain credit to address the country’s moribund economy. However, the ruling ZANU-PF party is calling for more from the U.S. and other Western countries that imposed the sanctions in 2002. The
African Countries Should Reopen Economies Gradually, Once Data Shows It’s Safe, Experts Say
The World Health Organization, the Africa Centers for Disease Control and Prevention, and the World Economic Forum have issued guidelines for African countries looking to reopen their economies after weeks of lockdown due to the coronavirus. Health authorities are concerned that opening up too quickly could trigger a fresh wave of COVID-19 cases on the
Being a Journalist is Risky Business in Somalia
Journalists in Somalia routinely face many difficulties but this year, under the stress of the spread of COVID-19, they say feel even more threatened by intimidation and arrest by what they call hostile leaders. Cautiously celebrating World Press Freedom Day, a number of Somali journalists and journalists’ rights activists shared their experiences with the VOA
World Bank, IMF: Africa Still Needs $44 Billion to Fight COVID-19 Pandemic
The World Bank and International Monetary Fund said on Friday that Africa needs $44 billion more to fight the coronavirus pandemic despite a freeze in debt payments for many countries and massive pledges of support. The Washington-based lenders and other official creditors have already mobilized $57 billion to support healthcare and economic recovery on the
