debt
News
Repayment of Local Fund 'Insignificant' in SofalaThe government of the central Mozambican province of Sofala has admitted that so far the repayment of loans under the Local Initiative Investment Budget (OIIL) has been "insignificant", reports Monday's issue of the Maputo daily "Noticias".
Source : AllAfrica | 05-Jan-2009 16:36
Liberia: Audit Questions U.S.$5 Million Domestic Debt Payment
The General Auditing Commission (GAC) has questioned the payment of US$5,048,907.00 domestic debt, saying that there were no vouchers to support payments.
Source : AllAfrica | 05-Jan-2009 16:03
Nigeria: NFL Suspends Bayelsa UTD Over Debts
Topping Bayelsa United FC have been barred from playing in the Globacom Premier League until they cough out N25 million being salaries and sign-on fees owed players, coaches and officials of the club.
Source : AllAfrica | 31-Dec-2008 10:30
South Africa: Debt Crisis Cripples SPCA's Work
The SPCA, which is millions of rands in debt, has just gone through its worst financial year.
Source : AllAfrica | 29-Dec-2008 11:06
Nigeria: Govt Will Leave More Debt Than Its Predecessor
The deputy governor of Cross River State, Mr. Effiok Cobham, has said that the debt burden the administration led by Senator Liyel Imoke will leave behind may be more than what the government inherited from Donald Duke, given the developmental strides of the administration.
Source : AllAfrica | 25-Dec-2008 11:56
South Africa: Harmony R1 Billion Closer to Clear Pile of Debt
HARMONY Gold Mining has taken the first step to clearing its books of debt after raising almost R1bn through a share issue, paving the way for a possible acquisition in mid-2009.
Source : AllAfrica | 23-Dec-2008 08:25
Uganda: BoU Battles Basajja Over Sh39 Billion Debt
BANK of Uganda (BoU) has asked the High Court to overturn a fraudulent ruling that facilitated the illegal transfer of titles held as security for a debt owed by businessman Basajjabalaba, senior officials have said.
Source : AllAfrica | 22-Dec-2008 12:56
Fitch Wary On Super Group Liquidity And Risk of Debt Default
RENEWED liquidity worries are circling around Super Group, whose latest restatement of financial results has prompted a ratings downgrade and a run on shares.
Source : AllAfrica | 22-Dec-2008 08:48
Zimbabwe: Domestic Debt Skyrockets By 17 800 Percent
ZIMBABWE'S domestic debt rose 17 800% inside one month to $179,6 trillion on September 8 from $1 trillion recorded on August 8, creating heavy future taxes official, figures revealed this week.
Source : AllAfrica | 19-Dec-2008 18:33
Nigeria: Muktar Blames Obasanjo Over Debt Relief
Former Director General of the Debt Management Office (DMO) and ministerial Nominee, Dr. Mansur Muktar, yesterday blamed the lack of development of some sectors of the economy on the valuable time used by the former president Chief Olusegun Obasanjo in pursuing debt relief for the country.
Source : AllAfrica | 19-Dec-2008 08:52
Zambia: State Risks Oil Supply Debt
THE Government will slip into debt if the delayed off-loading of the recently bought 90,000 tonnes of crude oil persists, Energy and Water Development Permanent Secretary, Peter Mumba has said.
Source : AllAfrica | 18-Dec-2008 11:57
Nigeria: Govt Advised Against Borrowing
Due to the negative implications of both domestic and external debt on the economy of any country, especially Nigeira, the Federal Government has been advised to stop any further taking of loans from developed countries.
Source : AllAfrica | 18-Dec-2008 11:33
Nigeria: DPR to Recoup 16 Years Royalty Debt From Oil Firms
OIL companies that are indebted to the Federal Government may need to start preparing for the pay up time, following the pronouncement that the Department of Petroleum Resources (DPR) is reconciling its outstanding royalties with the oil producing companies.
Source : AllAfrica | 16-Dec-2008 10:58
Nigeria: Oil Sector May Implode Over NNPC Debt, Marketers' Threat
AS the country teethers on the brink of economic uncertainty occasioned by recession in Europe, the United States of America, parts of Asia and dwindling oil prices, the Nigerian oil and gas industry appears set to implode owing to government's inability to effectively manage the sector especially against the backdrop of panic among fuel importers and bankers whom the Nigerian National Petroleum Corporation owes in excess of $2 billion (about N272.2 billion, given the current Central Bank of Nigeria exchange rate put at N136.1).
Source : AllAfrica | 16-Dec-2008 10:58
Nigeria: Fuel Crisis Looms Over Unpaid Debt
Major oil marketers are warming up to plunge the nation into another round of fuel crisis over N62 billion unpaid claims owed them by the Federal Government through the Petroleum Product Pricing and Regulatory Agency (PPPRA).
Source : AllAfrica | 16-Dec-2008 09:10
Uganda: MPs Approve $75 Million for Data Backbone
Uganda's parliament has approved a US$75 million loan for the second and third phases of the national data transmission backbone.
Source : AllAfrica | 15-Dec-2008 16:38
Nigeria: FEC Approves N12 Billion World Bank Loan
Aso Rock is on a collision course with the Senate with the approval by the Federal Executive Council (FEC) on Wednesday of $90 million (N12.2 billion) loan from the World Bank.
Source : AllAfrica | 11-Dec-2008 11:54
Mozambique: Siba-Siba Murder - First Arrests
Three former employees of the Austral Bank (now renamed as Barclays-Mozambique) have been arrested in connection with the murder, in August 2001, of the interim chairman of the bank, Antonio Siba-Siba Macuacua.
Source : AllAfrica | 09-Dec-2008 19:48
Bonding Another Generation
It was at one time the 'conventional wisdom' (with due apologies to the economist John Kenneth Galbraith) that Nigeria was 'under-borrowed.' This infamous position had its heyday in the 1970s, when we were told that Nigeria's problem was "not making money but how to spend it"! The consequence was a borrowing binge to prove that the country was credit worthy. The unintended consequences are still with us today.
Source : AllAfrica | 09-Dec-2008 12:11
South Africa: Debt Cost Hits Stock
METOREX'S share price plunge gives management little credit for its achievement in raising new finance under very difficult market conditions.
Source : AllAfrica | 09-Dec-2008 09:34
Nigeria: Omisore Warns On Deficit Financing Options
Chairman of the Senate Committee on Appropriation, Senator Iyiola Omisore, has cautioned the Federal Government on options outlined in the 2009 budget for deficit financing.
Source : AllAfrica | 08-Dec-2008 09:27
Nigeria: N2 Billion Loan - Amaechi Seeks National Assembly's Help
Governor Rotimi Chibuike Amaechi yesterday urged the House of Representatives Committee on Aviation to help the State recover the N2 billion it gave as loan to the Nigerian Civil Aviation Authority (NCAA) for the rehabilitation of Port Harcourt International Airport.
Source : AllAfrica | 05-Dec-2008 11:19
Zambia: Govt Gets $24 Million AfDB Loan
THE African Development Bank (AfDB) has given Zambia a US$24 million concessional loan for budgetary support for next year and 2010.
Source : AllAfrica | 03-Dec-2008 11:45
Keetmanshoop Grapples With Debt, at Odds With Receiver
THE Keetmanshoop municipality has severe liquidity problems and did not pay staff's tax deductions to the Ministry of Finance for 13 months, a new report reveals.
Source : AllAfrica | 03-Dec-2008 10:41
Nigeria: Reps Threaten Debtors in Aviation Industry
House of Representatives Committee on Aviation on Tuesday directed agencies and parastatals in the aviation sector to recover all debts owe them.
Source : AllAfrica | 03-Dec-2008 10:27
Nigeria: Osunbor - I Left N4.9 Billion Debt, Not N9.2 Billion
Former Governor of Edo State, Senator Oserheimen Osunbor, at the weekend debunked the claims by the Comrade Adams Oshimhole-led administration that it inherited N9.2 billion debt.
Source : AllAfrica | 01-Dec-2008 09:27
Uganda: Parliament to Blame for Debt Burden
Uganda's debt stock that is again escalating is likely to drive the country back to the begging spree which will lead to underdevelopment and request for debt cancellation.
Source : AllAfrica | 28-Nov-2008 10:27
Uganda: Ssaabaruuli Sued Over Food Debt
A FOOD vendor in Nakasongola district has sued the Ssaabaruuli, Isabarongo Mwogezi Butamanya, over a sh150,000 food debt, which he allegedly incurred in 2002.
Source : AllAfrica | 28-Nov-2008 09:03
Debt Levels Worry UDN
The Uganda Debt Network (UDN) has expressed fear over the increasing external debt stock. The fears were expressed in a statement to the President after media reports that Uganda's external debt continues to rise amid policy implementation failures, lack of accountability and poor loan utilisation.
Source : AllAfrica | 27-Nov-2008 08:41
Togo Reaches Decision Point Under the Enhanced HIPC Debt Relief
The World Bank's International Development Association (IDA) and the International Monetary Fund (IMF) have determined that the Republic of Togo qualifies for debt relief under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative, enabling it to reach the decision point under the Initiative.1 Togo becomes the 34th country to reach its decision point.
Source : AllAfrica | 26-Nov-2008 10:58
Nigeria: Govt Secures $780 Million Loan From World Bank
The World Bank's total loan portfolio to aid projects in Nigeria from 1999 to date has hit $3.5 billion.
Source : AllAfrica | 25-Nov-2008 10:55
Nigeria: Country Gets N90 Billion World Bank Loan
Nigeria on Monday obtained a World Bank loan of about $780 million (N90.48 billion) for three schemes: the Fadama Development Project (NFDP 111), Community and Social Development Project (CSDP), and the Federal Roads Development Project.
Source : AllAfrica | 25-Nov-2008 10:53
Nigeria: World Bank - Nigeria's Debt Hits $3.5 Billion
World Bank loans to Nigeria under the Bank's assisted projects since 1999 to date is about $3.5 billion including a recent $780 million loan granted for three projects.
Source : AllAfrica | 25-Nov-2008 09:22
Nigeria: Country's Debt to World Bank Hits $3.5 Billion - Finance Minister
THE Minister of Finance, Dr. Shamsudeen Imam yesterday allayed fears about borrowing money from international donor agencies saying that sceptics ought to be more concerned with the manner of application of such loans.
Source : AllAfrica | 25-Nov-2008 08:19
Country's Debt is U.S.$ 7.65 Billion
Dr Anthony Akoto Osei, a Minister of State at the Ministry of Finance, has told Parliament that Ghana's debt, including contingent liability from COCOBOD, at the end of last September stood at US$ 7,652.46 million.
Source : AllAfrica | 17-Nov-2008 19:53
Nigeria: Reps May Oppose $3 Billion World Bank Loan
The House of Representatives will today debate the planned/ decision of the federal government to obtain a $3 billion World Bank loan for the provision of infrastructure and eradication of poverty in the country.
Source : AllAfrica | 17-Nov-2008 15:10
Nigeria: N360 Billion Debt Relief Fund - So Long a Tale of Many Disappointing Projects
One of the achievements of former Nigeria President, Olusegun Obasanjo, was his administration's ability to convince the Paris and London Clubs to write off Nigeria's $19 billion foreign debt.
Source : AllAfrica | 17-Nov-2008 13:47
Nigeria: Reps Liaise With FG Over $3 Billion World Bank Loan
The House of Representatives has mandated its Joint Committee on Finance and Appropriation to liaise with and advise the Federal Government on the consequences of the $3 bil-lion (N351 billion) loan facility offered by the World Bank
Source : AllAfrica | 17-Nov-2008 12:23
Uganda: Pastor Kiweweesi in Court Over Debt
A Kampala businessman has sued Pastor Isaac Kiweweesi of Kansanga Miracle Centre for failure to pay for a generator he sold to him on credit.
Source : AllAfrica | 17-Nov-2008 11:08
Nigeria: Reps Move to Stop $3 Billion World Bank Loan
Plans by the government to obtain a $3 billion loan from the World Bank has drawn fire from the House of Representatives ahead of the debate on it today.
Source : AllAfrica | 14-Nov-2008 17:07
Nigeria: Legislators Reject World Bank Loan
Opposition has continued to mount against the offer of a $3 billion loan for infrastructural development by World Bank, with the House of Representatives passing a resolution yesterday rejecting the facility.
Source : AllAfrica | 14-Nov-2008 10:37
Ellen On Country's U.S.$3.7 Billion Debt
President Ellen Johnson Sirleaf says significant progress has been made to reduce Liberia's external debts.
Source : AllAfrica | 13-Nov-2008 19:39
Uganda: DP Official Remanded Over Debt
The Democratic Party secretary general was yesterday committed to Luzira Prison for failure to pay a debts.
Source : AllAfrica | 13-Nov-2008 11:17
Nigeria: World Bank Proposes N351 Billion Loan
The World Bank Group has proposed to assist Nigeria meet its infrastructure challenge, by offering a loan facility of $1 billion every year, totaling $3 billion (about N351 billion) from 2009 to 2011, under its International Development Assistance (IDA).
Source : AllAfrica | 12-Nov-2008 16:16
Nigeria: Debt Relief Fund Committed to MDGS -Yar'Adua
THE Federal Government has said that in its quest to achieve the MDGs by 2015, it has decided to commit the debt relief funds to boost activities that would facilitate the actualisation of the goals especially health related ones.
Source : AllAfrica | 12-Nov-2008 11:15
Nigeria: CIS Advocates Debt Restructuring for Capital Market Operators
The Chartered Institute of Stockbrokers (CIS) has called on the Central Bank of Nigeria (CBN) to allow banks in the country to restructure the debts owed it by operators in the capital market.
Source : AllAfrica | 12-Nov-2008 10:12