Kenya budget reins in deficit at 3.3 per cent, aims to cushion fragile economic growth and recovery
The East African country sold a $1.5 billion international bond in February at a premium to fund the buyback of a large portion of a $2 billion bond maturing in June. Before that, investors had feared Kenya might not be able to repay the bond due to its strained public finances.
Food slaves: Since AGRA’s launch, African biodiversity has been severely lost, farmers tricked into dumping nutrient-dense, drought-resistant crops
In 1999, Monsanto’s CEO Robert Shapiro bragged that the company planned to control “three of the largest industries in the world – agriculture, food and health – that now operate as separate businesses. But there are a set of changes that will lead to their integration.” Today these chemical manufacturers control a huge percentage of the world’s food supply.
Congress probe unearths how US former director of health hatched plans to engineer monkeypox virus capable of killing millions
A new interim report describes the obstruction and secrecy around the mpox proposal as a case study of how the institute “oversees and accounts for the monitoring of potentially dangerous gain-of-function research of concern.”
Kenya’s cabinet approves sale of its shares in six listed companies
The move complements government plans to offload shares in other state-owned companies. In November, Ruto said the government planned to privatise 35 state companies after enacting a law in October to guide the process.
Resilience facility: IMF in staff level agreement with Kenya, urges fiscal consolidation
Although Kenya has been facing liquidity challenges since 2022, it managed to sell a new $1.5 billion Eurobond from international markets in February, albeit at a steep price, to partly buy back another Eurobond that is maturing in June.
By using dollar as the currency of political and economic sanctions US dares world to find an alternative
Over the past three weeks, I have been asking financial services executives, global investors and other experts in Asia and the United States how long they think the Americans can keep at it without meaningful blowback. Several of the sources requested anonymity to speak candidly about the situation.
Serious integrity questions raised about why a journal retracted study showing Covid vaccines may cause cancer
Subsequent research and case studies have largely validated the findings of the retracted study conducted by Mei and Hui Jiang, of Stockholm University in Sweden.
Central African Republic suspends Chinese Daqing SARL gold mining company for alleged links to armed groups
The Central African Republic has been in conflict since 2013, when predominantly Muslim rebels seized power and forced the President Francois Bozize from office. Mostly Christian militias fought back. A 2019 peace deal only lessened the fighting and six of the 14 armed groups that signed later left the agreement. The Coalition of Patriots for Change was founded in 2020 in the aftermath of the agreement.
Central Bank of Kenya to use part of World Bank loan to make $500 million bond payment
Kenya’s economy is estimated to have grown 5.8 per cent in the first quarter of this year after 2023 growth of 5.6 per cent.
Central Bank of Kenya retains base lending rate at 13 per cent on strength of stable inflation
The Kenyan shilling has stabilised against the dollar after the government successfully raised $1.5 billion from international markets in February to partially buy back another bond that is maturing in June.
