Debt

News : Debt

In a tough housing market and harsh economic climate, homeowners must buckle up and service their loan repayment, so say the banks. (AllAfrica)

PRESIDENT Yoweri Museveni has ordered the Attorney General to verify war debt claims by thousands of people from Acholi region, amounting to sh1.44 trillion. (AllAfrica)

THE Government's internal debt as at December 2007 was K8.2 trillion while the external debt was US$1.054 billion during the same period, Parliament heard on Wednesday. (AllAfrica)

Highly Indebted Poor Countries (HIPC) would begin to heave a sigh of relief, if a proposed bill dubbed "Stop Vulture Funds Act" before the US House of Representatives, is passed to become an Act. (AllAfrica)

ZIMBABWE'S domestic debt soared by 7 417,5% inside four months to $790,6 quadrillion ($79,6 million new currency) on July 15 from $10,5 quadrillion ($1 500 000) recorded during the first week of April, official figures revealed this week. (AllAfrica)

A request by the Keetmanshoop Municipality to have pre-independence debt that amounts to around N$12 million written off has been denied. (AllAfrica)

PERSONAL bankruptcies and corporate failures have leapt in the past couple of months, providing more evidence of the toll that soaring debt costs are taking on the economy. (AllAfrica)

President Ellen Johnson Sirleaf has addressed a Joint Session of the National Legislature, providing a detailed update on results from the 2008 Liberia Poverty Reduction Forum (LPRF), held in Berlin, Germany on June 26 and 27. The President informed the lawmakers that the Forum was intended to review with the country's partners the details of the Poverty Reduction Strategy, with the aim of seeking their endorsement. President Johnson Sirleaf described the exercise as a crucial step, in part, because partner funding will be needed to help finance the Strategy. She said the Forum focused on infrastructure because it is crucial to revitalizing the economy, maintaining security, and ensuring access to schools and health clinics for Liberians across the 15 counties. "We asked them to mobilize exceptional assistance to support this most expensive portion of the Poverty Reduction Strategy," the Liberian leader asserted. (AllAfrica)

Government domestic debt leapt 7 418 percent to $790,6 quadrillion at the middle of July from $10,5 quadrillion a month earlier, as Government borrowed to finance the March and June elections. (AllAfrica)

LEGISLATORS have demanded the list of people who are yet to refund the money from the Global Fund for HIV/AIDS, tuberculosis and malaria, which they allegedly misused. (AllAfrica)

THE Police in Masaka last week stopped the arrest of the Bukomansimbi MP, Kisiki Lubyayi, because he was hosting mayors from the U.S. (AllAfrica)

After Ghana's debt increasing from $2 billion to US$7.8 billion, as announced by the Governor of the Bank of Ghana (BoG), Dr. Paul Acquah, calculations have indicated that the amount each Ghanaian owed, had increased from about US$100 in 2006, when Ghana was forgiven part of its debt, to US$355, equivalent to about GH¢354. (AllAfrica)

When Boagi Mogapi read a classified advertisement claiming that anybody who had lost money in loan schemes could recover their hard earned cash, he felt like his prayers had been answered. (AllAfrica)

Police yesterday grilled Tanzania Heart Institute (THI) president Ferdinand Masau for hours. (AllAfrica)

The fate of heart patients admitted at the Tanzania Heart Institute (THI) will be known today when the National Social Security Fund (NSSF) moves in to remove them over a Sh2.3 billion rent dispute. (AllAfrica)

The defence ministry is to spend sh35b to construct a new hospital to replace the former Mbuya military hospital. (AllAfrica)

MANY South African motorists are drowning in debt and having their cars repossessed as they did not have a financial "cushion" in their monthly financial budget planning, according to the sales and marketing director of Wesbank, Chris de Kock, who addressed a media briefing on his company's Vehicle Sales Confidence Indicator last week. (AllAfrica)

At the end of the month of June 2008, Ghana's total public debt stood at US$7.8 billion, from an initial amount of almost US$7.3 billion, at the beginning of the year. (AllAfrica)

It will take Nigeria another ten years to pay its current $3.01 billion external debt, the Debt Management Office (DMO) has said. (AllAfrica)

The corporate world was last week treated to the bizarre spectacle of the mass "resignation" of almost all the top managers of the Kenya Planters' Co-operative Union. (AllAfrica)

The country's main drug supply agency to Government hospitals and dispensaries is today exposed as a haven for idlers, incompetence, infighting and wastage. (AllAfrica)

AS the Anti-Corruption Commission (ACC) continues to probe allegations of favouritism at the City of Windhoek with regard to credit control, the City is refusing to say whether it has taken any action against a number of high-ranking Government officials, who owe it more than N$500 000. (AllAfrica)

In the runup to the Group of Eight meeting in Japan last week, activists of all stripes were working hard to ensure that their issue would be on the agenda. While the agenda changes from year to year, one item has become a mainstay: debt relief. The fact that this issue repeatedly resurfaces calls into question the effectiveness of a well-intentioned development tool. (AllAfrica)

The High Court has rejected a Government request to cancel consent judgments in which it had committed itself to pay billions of shillings as compensation to former employees of the defunct Dairy Corporation. (AllAfrica)

Tororo district risks losing valuable assets to creditors who have taken it to court over debts, reports Moses Nampala. (AllAfrica)

Kampala City Council (KCC) impounded Pepsi's RAV4s over non-payment of advertising fees on Tuesday, writes Chris Kiwawulo. (AllAfrica)

MERGER and acquisition (M&A) activity for the first half of the year has remained constant in spite of a marked drop in the size of announced deals, according to data from information and analysis provider Mergermarket released yesterday. (AllAfrica)

The democratic government, which inherited economic and fiscal problems from the previous government, has managed to reduce the public debt burden and grow the economy through prudent fiscal policies. (AllAfrica)

Local financial institutions and corporations have been advised to adopt credit ratings in order to develop a more tradeable bond market. (AllAfrica)

A Sh1 billion outstanding bill owed to farmers by the National Cereals and Produce Board has made farmers shy away from delivering more maize to the board. (AllAfrica)

Former Taveta MP Basil Criticos has been given the go-ahead to sell 7,000 acres of his land to repay a loan of Sh36 million he owes the Agricultural Finance Corporation (AFC), the Nation established Thursday. (AllAfrica)