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IMF keen on debt restructuring for Chad, Zambia, Ethiopia. Will creditors agree?

Published

4 weeks ago

July 15, 2022

Debt restructuring discussions for African countries, Chad, Zambia and Ethiopia are progressing with the International Monetary Fund (IMF).

IMF spokesperson, Gerry Rice told newsmen that Chad has sought to access the G20’s common framework. But to benefit from the initiative which supports low Income Countries with unsustainable debt, Chad needs a debt agreement among creditors.

Rice further revealed that the IMF awaits assurances from Chad’s creditors to advance discussion.

“We need financing assurances, and we need assurance on debt sustainability, so, the Creditor Committee on Chad, we expect to continue to meet. We think it’s essential. Again, that an agreement be reached promptly with all creditors, including Glencore […]” Rice stated.

For Zambia, another country that has been keen on debt restructuring, Rice revealed that the same prerequisites are also necessary for Zambia since the Southern African nation wishes to unlock IMF funding. Yet again, Lusaka’s creditor’s committee has agree.

The IMF spokesperson said, “if official creditors can succeed in providing the financing assurances to Zambia within the next few weeks, we can then take that to our Board for consideration of a program; and, that could happen very soon after our Board recess, which is the first couple of weeks in August.”

While for Ethiopia, Rice also explained that the Creditor Committee has been formed under this G20 common framework. And will continue to work closely to provide the needed technical support for Ethiopia amidst its revenue challenge.

Many African countries depends on international creditors to fund critical aspect of their economies. External debts are not as contentious in many African states as the discipline to expend the funds appropriately on development centred projects, which has always been a course for concern amidst the nature of corruption that characterizes the political and public system in Africa.

Related Topics:#CHAD ethipia Featured IMF Zambia

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Rwanda begins massive recruitment of Zimbabwean teachers, over 450 shortlisted

Published

4 days ago

August 6, 2022

Ifeoluwa Dada

Following agreement between Rwanda and Zimbabwe, Rwanda has started massive recruitment of teachers from the South African country.

Rwanda agreed to hire tutors from the southern African country to cover a skills gap.

Zimbabwean government official in Harare, says 491 of its teachers have been shortlisted for interviews that will be conducted in the next few days.

Simon Masanga, who is Zimbabwe’s Public Service Ministry Permanent Secretary said Rwanda had requested more tutors to bridge a longstanding skills gaps and language barriers.

“We are recruiting competent education personnel to be employed in Rwanda on job position under four categories: basic education, basic TVET (technical and vocational education and training), polytechnic and universities,” Masanga said.

“The successful candidates are expected to travel to Rwanda in September after undergoing pre-departure training by a team of experts from Zimbabwe and the embassy of Rwanda to ensure adequate orientation and requisite information is imparted to the Zimbabwean nationals prior to their deployment,” Mr Masanga added.

Rwanda and Zimbabwe on Thursday December 23 signed an agreement where the latter will send 306 teachers to Kigali as part of the efforts to strengthen cooperation and partnership between the two countries.

Metro

Nigerian woman goes berserk at US airport, opens fire on passengers

Published

2 weeks ago

July 29, 2022

Akanimoh Etim

A Nigerian woman identified as Portia Odufuwa, has been arrested by the Dallas Police in the United States after she went berserk at the Dallas Love Field Airport in Texas and opened fire at fellow travellers on arrival on Thursday.

According to Dallas Police Chief, Eddie Garcia, Odufuwa, on arrival from a trip, went into a rest room, changed her clothing and came out with a sub-machine gun and proceeded to fire at fellow travellers at random.

Garcia also confirmed that Odufuwa was shot “in the lower extremities” by a police officer attached to the airport before she was arrested and taken to a hospital where she has been placed in protective custody.

“Odufuwa was dropped off at the airport just before 11 am and appeared to change her clothes in a restroom before emerging and opening fire inside the airport.

“She was firing at random at fellow travellers before a police officer shot her in the lower extremities and arrested her,” Garcia said.

“It was unclear whom or what the suspect was aiming at when she fired as she was shooting at random. Luckily, no passenger was hit in the shooting spree,” he added.