Connect with us

VenturesNow

Ghana, Kenya overtake Nigeria on list of most hardworking foreigners in US

Published

on

Global media company, Bloomberg has ranked Nigerians working in the United States as the eighth most hardworking foreigners in that country.

Among African countries, Nigerians were ranked eight position behind Ghana, Kenya and Ethiopia that held first, third and fourth positions respectively.

Nigerians scored 71.0 percent in the list of the hardest and most skilled immigrant groups in the US which was topped by Ghana with 75.2 percent.

Bulgaria and Kenya were ranked second and third with 74.2 percent and 73.4 percent respectively. Other African countries in the report’s top 10 are Ethiopia (4th), Egypt (5th), and Liberia (9th).

This makes Africans in general the most productive immigrants in the US ahead of those from Mexico and Central America, who constitute more than 70 percent of foreign nationals in that country.

“If we want more high-skilled, hardworking, English-speaking, ready-to-integrate immigrants, it looks like the most obvious place to find them is in African countries where English is widely spoken,” Bloomberg journalist Justin Fox, who came up with the report, said.

Read Also: IMF warns South Africa’s economy still faces major risks

The report, developed from the 2016 US Census Bureau American Community Survey, ranked Nigeria 8th among the Most-Educated Immigrant Groups in the U.S.

Nigeria sandwiched between Australia (7th) and Malaysia (9th).

The report put the number of Nigerian legal immigrants in the U.S. at 262,603.

According to the report, Kenya, Nigeria, Nepal and Ghana have the highest number of citizens pursuing higher education in the US after Saudi Arabia.

Immigrants from Kenya, Nigeria and Ghana are near the top in both employment-population ratio and higher-education enrollment, it said.

VenturesNow

Nigeria wants $2.25 billion World Bank loan

Published

on

Nigeria’s Finance Minister, Wale Edun, has revealed that the country is seeking up to $2.25 billion in World Bank loans and expects the bank’s board to approve the request in June.

The move was announced in a statement following the International Monetary Fund/World Bank spring meetings in Washington, D.C as the country also aims to issue diaspora bonds later this year to attract much-need foreign exchange into the country.

The World Bank loans would include $1.5 billion for development policy and $750 million for program-for-results, the statement said. It also said that the bank would meet in June to decide whether to approve the plan in its entirety.

The multilateral body is yet to comment on the revelation at press time.

Nigeria one of Africa’s biggest oil producers has struggled lately mainly over industrial-scale crude oil theft, and troubles getting foreign currency, which caused its naira currency to drop to all-time lows against the U.S. dollar. It has since recovered, though.

Already, the country is on record levels of debt, high unemployment, and large amounts of money from the central bank. However, Edun has insisted that the government had cut the money it borrowed from the central bank in half.

Continue Reading

VenturesNow

Ghana’s finance minister anticipates debt restructuring MoU with lenders

Published

on

Ghana’s Finance Minister has announced that the country’s two main creditors will send him a draft Memorandum of Understanding (MoU) on a restructuring deal in May, signifying a major progress in the country’s debt reform.

Once the MoU is signed, it will make public the deal that was made in January to restructure $5.4 billion in loans with its official creditors, such as China and France.

The restructuring is a big step toward Ghana getting rid of its debt as it works to get out of the worst economic crisis in a generation. It should also allow the country to get more money from its $3 billion IMF program.

Mohammed Amin Adam said he was sure the International Monetary Fund (IMF) and the World Bank would work together at the Spring Meetings in Washington, D.C. In June, the Monetary Fund’s executive board will agree to review its staff-level deal.

From 2023 to 2028, Ghana’s national debt to gross domestic product level was supposed to go down by 15%. This guess says that the number will have gone down every year for six years, ending at 69.96% in 2028.

Ghana didn’t pay back most of its foreign loans in December 2022 because it became too expensive to do so. But now it needs to work out a deal with private holders of about $13 billion in foreign bonds. It has also changed most of its domestic debt.

Continue Reading

EDITOR’S PICK

Culture13 seconds ago

Egypt reclaims 3,400-year-old stolen statue of King Ramses II

Egypt has received a 3,400-year-old statue depicting the head of King Ramses II that was stolen and smuggled out of...

Metro16 mins ago

Sign language interpreter, Kunda, seeks inclusivity in media rights agenda

An inclusive society is crucial for a nation’s human and economic development in the modern era. In this edition of...

Metro2 hours ago

Sign language interpreter, Kunda, seeks inclusivity in media rights agenda (video)

An inclusive society is crucial for a nation’s human and economic development in the modern era. In this edition of...

Metro5 hours ago

Educationist challenges media freedom norms, cautions against misuse of freedom of expression

Geshom Banda, Deputy Head Teacher at Hillside Primary School, presents a contrasting perspective amidst discussions on media freedom and digital...

Metro7 hours ago

Nigerian govt shuts Chinese supermarket over ‘no-Nigerian shopper’ allegation

Nigeria’s Federal Competition and Consumer Protection Commission has shut down a Chinese store in Abuja, the country’s capital, because it...

Metro9 hours ago

Nigeria: President Tinubu identifies illegal mining as source of terrorism financing

Nigeria’s President Bola Tinubu has identified illegal mining activities as a major source of terrorism financing in the country and...

VenturesNow11 hours ago

Nigeria wants $2.25 billion World Bank loan

Nigeria’s Finance Minister, Wale Edun, has revealed that the country is seeking up to $2.25 billion in World Bank loans...

Video11 hours ago

‘Complex, contentious,’ media enthusiast says media rights often depend on goodwill of political leadership (video)

Kitwe Press Club spokesperson, Michael Kaluba, has described the media landscape in Zambia as complex and contentious. In a conversation...

Tech23 hours ago

UN signs MoU with Kenya’s Konza Technopolis

The United Nations has signed a Memorandum of Understanding (MoU) with Kenya’s Konza Technopolis that will provide a wide range...

Culture23 hours ago

Ghana mourns as top gospel music icon Koda passes away

The Ghanaian entertainment industry has, once again, been thrown into mourning following the death of renowned gospel musician, Kofi Owusu...

Trending