Connect with us

Politics

China assists Zambia in restructuring debt process

Published

on

The Chinese government has come to the aid of Zambia by helping the African country to structure its debt process with multiple creditors including the International Monetary Fund (IMF).

The Zambian President Hakainde Hichilema disclosed on Monday during the first quarter 2022 Economic Conference in Lusaka, that China had come on board to commit and join other creditors in the country’s debt restructuring process.

Hichilema emphasized that without the gesture from China, it would be difficult for his government to record sustainable economic development with the current high debt levels.

“I am proud to announce to the nation that we engaged China, we engaged other creditors to negotiate a debt resolution package,” Hichilema said.

“I engaged China myself as President, that’s my job, which you gave me, working together with the Ministry of Finance and Foreign Affairs, we want to thank China for joining the common framework agreement to resolve the debt crisis,” he disclosed.

Hichilema further hinted that with China playing a key role, it was no coincidence that the country has continued to record a reduced inflation rate and stable exchange rate as a result of the measures the government continues to implement to bring stability to the country’s economy.

He added that Zambia has recorded progress with the debt restructuring program which is targeted at restoring and reviving the country’s economy.

“Last year, we reached the staff-level agreement with the IMF on the debt restructuring, you can’t build the economy with huge debt mountains, and we undertook a decision to dismantle this debt and create room to release resources towards debt servicing in the economy to create jobs and grow the economy,” he said.

Just last week, the IMF also reached a staff-level agreement with Benin Republic on a new 42-month extended credit facility worth $658 million.

In a statement by the global bank on Friday, the extension of the credit facility was intended to help the impoverished West African country address its pressing financing needs related to security, the impact of the COVID-19 pandemic and the war in Ukraine, as well as anchor its national development plan.

Politics

Kenya’s Ruto wants global support for Haiti

Published

on

Kenya’s President William Ruto wants the United Nations Security Council to officially support the mission to the poorest country in the Western Hemisphere, Haiti.

Kenya, an East African powerhouse, is active in Haiti, and recently announced it was ready to be part of a multinational force. It committed to deploy 1,000 police officers to the country and  “accepted to positively consider leading a Multi-National Force to Haiti.”

Ruto, during his address, insisted that the Caribbean country “deserves better from the world.” “Kenya is ready to play its part in full, and join with a coalition of other nations of goodwill – and there are many— as a great friend and true sibling of Haiti,” Ruto said while addressing world leaders.

Haiti begged for assistance last year to fight off vicious gangs that had largely taken over the city of Port-au-Prince.

According to diplomats, the council might vote on a U.S.-drafted resolution endorsing the deployment of international police as early as next week.

U.N. peacekeepers were deployed to Haiti in 2004 after a rebellion led to the ouster and exile of then-President Jean-Bertrand Aristide. Peacekeeping troops left in 2017 and were replaced by U.N. police, which left in 2019.

Haiti has been without any elected representatives since January and countries across the world have been cautious about supporting the unelected administration of Prime Minister Ariel Henry who has argued that fair elections cannot be held with the current insecurity.

Violent crimes, including kidnappings for ransom, armed robberies, and carjacking are prevalent in the country.

Continue Reading

Politics

Sudan: One country, two UNGA addresses, as armed factions stake claim

Published

on

The ongoing civil war in Sudan played out on the global scene at the United Nations General Assembly as heads of rival military factions gave competing addresses at the world meeting on Thursday.

Clashes between the army under General Abdel Fattah al-Burhan, head of Sudan’s transitional government’s Sovereign Council, and army troops loyal to General Mohamed Hamdan Dagalo, the council’s deputy leader who controls the paramilitary Rapid Support Forces (RSF), have led to the destruction of facilities.

The conflict, which broke out in Khartoum in mid-April and extended to other regions of the country, including the western area of Darfur, displacing more than 5 million people and posing a threat to the region’s stability, was blamed on both sides.

Army chief, al-Burhan urged the international community to label the paramilitary Rapid Support Forces (RSF) as a terrorist organisation and to take action against its financiers outside of Sudan’s borders while speaking from the stage at UN headquarters in New York.

On the other hand, RSF leader, Dagalo, known as Hemedti, in a rare video recording from an undisclosed location, said that his forces were fully prepared for a ceasefire and comprehensive political talks to end the conflict. Hemedti has primarily communicated recently through audio messages, and his whereabouts have been a subject of conjecture.

“Today we renew our commitment to the peaceful process to put a halt to this war,” Hemedti said. “The RSF are fully prepared for a ceasefire throughout Sudan to allow the passage of humanitarian aid … and to start serious and comprehensive political talks.”

Repeated declarations of a ceasefire by both the army and the RSF, as well as claims that they are looking for a resolution to the war have not been able to halt the carnage and the worsening of the humanitarian crisis in Sudan.

Continue Reading

EDITOR’S PICK

Sports57 mins ago

Nigerian couple makes history with Paralympic qualifications

Nigerian para-table tennis players, Kayode Alabi and Ifechukwude Ikpeoyi, have made history by becoming the first African couple to qualify...

Metro1 hour ago

Sudan War: Gen. Al-Burhan says he’s ready for peace talks

Sudan’s Army Chief, Gen. Abdel Fattah Al-Burhan says he is now open for peace talks that could bring the war...

Tech1 hour ago

African Development Bank partners Google to transform Africa’s digital space

The African Development Bank (ADB) has teamed up with Google with the aim of advancing digital transformation in Africa. The...

Culture2 hours ago

US rappers, Meek Mill, Lil Durk pay tribute to late Nigerian Afropop star, MohBad

American rappers, Meek Mill and Lil Durk have joined the hordes of celebrities worldwide who have paid tributes to late...

Strictly Personal2 hours ago

As African leaders give excuses, peers reach for the skies, By Tee Ngugi

Many Africans might have missed an event that should have been at the centre of the news. On August 23,...

VenturesNow6 hours ago

New $700 million loan approved by World Bank for Nigeria

Amid its recent economic challenges, Nigeria has received approval from multilateral lender, World Bank for a fresh $700m loan to...

Metro7 hours ago

Nigeria’s Presidency apologises for UNGA goof

The Nigerian Presidency has apologised over a blunder it made when announcing that President Bola Tinubu was the first African...

Politics1 day ago

Kenya’s Ruto wants global support for Haiti

Kenya’s President William Ruto wants the United Nations Security Council to officially support the mission to the poorest country in...

Politics1 day ago

Sudan: One country, two UNGA addresses, as armed factions stake claim

The ongoing civil war in Sudan played out on the global scene at the United Nations General Assembly as heads...

Politics1 day ago

Congo DR to relocate its Israeli embassy to Jerusalem

Israeli Prime Minister, Benjamin Netanyahu, on Friday revealed that the Democratic Republic of Congo would move its Israeli embassy to...

Trending