By Rachel Savage JOHANNESBURG (Reuters) – A swift conclusion to Ghana’s external debt restructuring would benefit its international bond prices but the talks may be tricky and holders could face a write down of up to 50%, analysts said after the country secured a $3 billion IMF rescue loan. Ghana is aiming for $10.5 billion …
Swift Ghana debt rework would benefit Eurobond prices – JP Morgan Read More »
BEIJING (Reuters) – China has always taken Zambia’s debt issues seriously and will jointly work for a better solution, the Chinese foreign ministry said on Friday. Wang Wenbin, a spokesperson of the ministry, made the remarks at a regular news briefing when answering a question regarding Zambian President Hakainde Hichilema saying he wants to meet …
China says it will work for better solution of Zambia’s debt issues Read More »
KAMPALA (Reuters) – Uganda’s parliament has approved the government’s plan to raise spending by 10% to 52.73 trillion shillings ($14 billion) in the 2023/24 fiscal year, the Finance Ministry said. Ugandan law requires lawmakers to approve the government’s spending plans for a specific fiscal year before they are officially laid out in a budget speech. …
Uganda parliament approves proposed 10% rise in 2023/24 budget Read More »
By Stephen Culp NEW YORK (Reuters) – U.S. stocks rallied and the dollar reached a seven-week peak on Thursday as discount retail giant Walmart Inc raised its sales outlook and strong economic data calmed recession fears while also dampening hopes the Federal Reserve would cut interest rates before year-end. Investors continued to closely monitor debt …
Wall Street ends higher, dollar climbs on solid data, debt ceiling progress Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar rose to seven-week peaks on Thursday as another round of solid economic data further pared back bets on easing by the Federal Reserve, with the greenback also boosted by expectations of a U.S. debt ceiling deal to a avert potential default. The dollar index, a measure …
US dollar hits seven-week high, bolstered by data, debt ceiling hopes Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil prices slid about 1% on Thursday after solid U.S. economic data spurred the dollar to reach a two-month high on growing expectations the U.S. Federal Reserve could raise interest rates again in June. Brent futures fell $1.10, or 1.4%, to settle at $75.86 a barrel. U.S. West Texas …
Oil prices settle down 1%; strong US data boosts dollar Read More »
By Nellie Peyton and Carien du Plessis JOHANNESBURG (Reuters) -South Africa’s state power utility Eskom may have to increase power cuts to an unprecedented level this winter, a company executive said on Thursday, as the country grapples with its worst power crisis on record. Many households and businesses in Africa’s most industrialised economy are already …
South Africa’s Eskom warns of longer power cuts this winter Read More »
(Reuters) – Egypt’s central bank kept its overnight interest rates unchanged on Thursday, saying that growth had slowed in the fourth quarter and international commodity prices were easing. As forecast by analysts, the bank left its lending rate at 19.25% and deposit rate at 18.25%, its Monetary Policy Committee (MPC) said in a statement. “Domestically, …
Egypt’s central bank leaves key interest rates on hold Read More »
By Rachel Savage and Maxwell Akalaare Adombila JOHANNESBURG/ACCRA (Reuters) -Ghana is targeting $10.5 billion of external debt service relief from 2023-2026, the IMF said, giving an early indication of how large a hit investors might face in an impending debt overhaul. The West African country’s debt is currently unsustainable, but Ghana aims to restore …
IMF says Ghana targeting $10.5 billion in external debt relief Read More »
CAPE TOWN (Reuters) -South Africa has granted Turkey’s Karpowership access to the three ports of Ngqura, Durban and Saldanha Bay for a period of 20 years, the transport ministry said on Thursday, as it tries to find solutions to the country’s power crisis. Karpowership aims to generate power on its floating gas ships and distribute …
South Africa grants Turkey’s Karpowership deal to ease power crisis Read More »
