Although Kenya continues to project a non-alignment stance on the Ukraine war, the East African nation sees Moscow as a key partner in trade and investment.
Kenya’s sovereign bond index at the distressed 1,000 basis point spread over US treasuries enjoyed a brief reprieve from unrelenting gloom, as IMF managing director Kristalina Georgieva declared it an innocent bystander in sub-Sahara default panic.
The first investments are due to begin in six counties in sub-Saharan Africa in 2025.
World trade has been falling, but we still expect growth to return this year. We do notice large shifts in world trade as advanced economies – especially the US – are diversifying input sourcing.
Amid a downgrade to the IMF’s global growth forecast, EM sovereigns should remain resilient with areas of relative growth outperformance, easing pressure on commodity importers and fiscal reform momentum.
According to World Bank data analysed by Statista, countries heavily in debt to China are mostly located in Africa, but can also be found in Central Asia, Southeast Asia and the Pacific.
Food and energy prices surged to near historic highs in recent years amid the pandemic and the war in Ukraine, which prompted major supply disruptions. This was accompanied by a sharp rise in the volatility of commodity prices as well.
Landmark report urges nations to urgently start fixing water waste and start managing water as a common good with neighbours.
Putin took time out from meetings with Chinese President Xi Jinping who had just arrived in Moscow for a three-day state visit to speak to lawmakers from more than 40 African countries and woo them with generous promises of economic and military aid