Debt

[Premium Times] In June 2005, we were quite ecstatic in celebrating the debt relief offered us, of over $20 billion dollars, which was beyond the total revenue of Nigeria for one year. (AllAfrica)

[Capital FM] Nairobi -- China has offered Kenya a debt break of Sh27 billion that was due for payment between January and June 2021. (AllAfrica)

[Capital FM] Nairobi -- China has indicated its willingness to suspend Kenya's debt as part of measures to help developing countries weather the COVID-19 storm. (AllAfrica)

[Premium Times] Nigeria is spending a quarter of its 2021 Budget on debt servicing, a trend that has continued for years. (AllAfrica)

[ISS] Many African countries are sinking further into unsustainable debt. Last November Zambia epitomised the problem when it defaulted on a US$42.5 million payment on a Eurobond. 'The government went on a borrowing spree over the last few years and was then unable to repay,' notes Peter Leon, co-chair of the Africa group at the law firm Herbert Smith Freehills. (AllAfrica)

[Premium Times] The knotty legal wrangle is a product of an oil spill incident, half a century old, reaching back to 1970. (AllAfrica)

[Vanguard] The National Bureau of Statistics, NBS, says Nigeria's total foreign and domestic debt stood at N32.22trn in the Q3 of 2020. (AllAfrica)

[allAfrica] The OECD (Organisation for Economic Co-operation and Development) has estimated that external capital inflows to emerging market countries shrank in 2020 by about $700 billion relative to 2019. The inflows came from remittances, official sources and private capital, but they are now reversing. (AllAfrica)

[Vanguard] The cost of servicing Nigeria's public debt has increased quarter-on-quarter (QoQ) by 88.8 percent to N803.69 billion in third quarter of last year (Q3'20), from N425.7 billion in Q2'20. (AllAfrica)

[Monitor] About 700 tea nursery bed operators in Kigezi Sub-region have accepted to withdraw a court case they had filled against government in 2018 in the Commercial Court in Kampala demanding payment of Shs143 billion after the latter accepted to pay the money in phases. (AllAfrica)

[Leadership] The federal government has disclosed that out of N6.46 trillion spent on recurrent expenditure in 2020, the sum of N3.27 trillion was spent on debt servicing, while the balance of N3.19 trillion was spent on personnel cost, including pensions. (AllAfrica)

[Capital FM] Nairobi -- Kenya has successfully applied for the debt service suspension initiative from the Paris club, according to Treasury Cabinet Secretary Ukur Yatani. (AllAfrica)

[East African] Kenyan lawmakers are close to agreeing on legislation that will halt excessive government borrowing and do due diligence on debt-funded projects. (AllAfrica)

[Premium Times] The debtors represent 80 per cent of the N4.4 trillion of the total outstanding debt to AM ON. (AllAfrica)

[Chatham House] The continent now has a chance to reshape its relations with the global economy to create greater pan-African prosperity and resilience for future generations. (AllAfrica)

[Premium Times] The bank says the company reneged on its promise to sell the hotel and pay the N5 billion debt on or before December 31, 2019. (AllAfrica)

[Premium Times] StatiSense relied on data from the Debt Management Office to carry out its survey. (AllAfrica)

[Daily Trust] At least 67 per cent of the $31.985 billion (N12.193 trillion) outstanding external debt of Nigeria is for loans taken as Eurobond, a commercial loan, and from the International Development Association (IDA) as of September 2020. (AllAfrica)

[Daily Maverick] The short-term borrowings (amounting to R10.2bn) of Rebosis Property Fund, which are mostly due in 2021 to commercial banks, amount to more than the R320.8m in cash reserves on the company's balance sheet - rendering it technically insolvent. (AllAfrica)

[Daily News] ZANZIBAR current account recorded a deficit of $113.9m higher than that of $62.3m recorded in the corresponding period in 2019 on account of the rise in import bills. (AllAfrica)

[Nation] Kenya's debt ceiling is set to cross the current Sh9 trillion as the National Treasury faces one of the most challenging moments of preparing the 2021/22 budget amid revenue constraints. (AllAfrica)

[This Day] Nigeria expended about N1.99 trillion on servicing domestic and external debts between January and September 2020, according to statistics from the Debt Management Office (DMO). (AllAfrica)

[Leadership] Latest report by an international statistics firm, StatiSense has shown that Kogi, Katsina states and the Federal Capital Territory (FCT), up to Bauchi State, top the prestigious list of states with least local debt stock in Nigeria for the year ended 2020, beating other states to it. (AllAfrica)

[Leadership] Abuja -- African Export-Import Bank (Afreximbank) has announced that the closing of a $1 billion facility for the Bank of Industry, Nigeria's state-owned development bank. (AllAfrica)

[Thomson Reuters Foundation] A year when people were forced online for school and socialising exposed Africans to increased cyber attacks and privacy issues (AllAfrica)

[Citizen] Dar es Salaam -- Independent power producer Symbion Power Ltd has appealed to its creditors and staff with valid claims to remain calm, saying it's currently resolving arbitration issues with the Tanzania Electric Supply Company (Tanesco). (AllAfrica)

[This Day] A report by Verraki Partners, a business solutions company, has stated that Nigeria's 2021 budget allocation for debt service has enveloped the country's investments in critical sectors of the economy. (AllAfrica)

[Africa Renewal] -- says World Bank Vice President (AllAfrica)

[This Day] With a total debt burden of N5.39 trillion as at the end of December 2019, the 36 states of the federation are no longer eligible to borrow from the capital market, a new report, has said. (AllAfrica)

[Nation] President Uhuru Kenyatta on Wednesday called for urgent decisions on debt relief and financial aid to Africa's poor to help the continent's quick recovery from the Covid-19 shocks. (AllAfrica)

[Nation] The national debt is projected to increase by Sh750 billion in the next 10 months. That is Sh2.6 billion a day. (AllAfrica)