No Deal in Zambia

November 29, 2023 | The VaultNewsletter

Welcome back to ‘The Vault’, where we bring you the latest updates in public policies across Africa. This week we are looking at the collapse of Zambia’s debt restructuring deal, the imminent asset in cash-strapped Kenya , and the Nigerian Senate’s recently approved medium-term fiscal plan.

additionally this setback jeopardizes the progress of the ongoing economic reform plans required by the imf for the us13 billion credit facility agreed upon in september 2022
it's no secret that president ruto has been battling a severe money crunch since taking the reins of office in september 2022
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we're also tracking the latest current events in the news and how they may affect the decisions of policymakers below are some of the latest developments
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reviewing buhari's administration cash transfer policy
how has kenyan president william ruto fared six months into his tenure
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additionally this setback jeopardizes the progress of the ongoing economic reform plans required by the imf for the us13 billion credit facility agreed upon in september 2022

Beyond Zambia, this development undermines the purpose of the G20 Common Framework, especially when many countries in the region—Ghana, Kenya, Ethiopia, and Egypt— are struggling with unsustainable debt burdens. Since it’s launched in 2020, it has been all talk and no success.

it's no secret that president ruto has been battling a severe money crunch since taking the reins of office in september 2022

A few months ago, Ruto passed his first budget with an estimated fiscal deficit of KES718 billion (US$4.6 billion). As noted in our previous article— here —Ruto’s one year in office has been marked by unfulfilled campaign promises and high cost of living, mainly caused by increased taxes and the removal of subsidies on fuel and electricity. While Ruto hoped to free up resources for public investment and for his “Bottom-up Economic Transformation Agenda”, these policies have negatively affected many low and middle-income households.

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we're also tracking the latest current events in the news and how they may affect the decisions of policymakers below are some of the latest developments

Somalia| Somalia has joined the Community of East African States (EAC ). Last Friday, the President of the East African Community (EAC), Évariste Ndayishimiye, who is also the Head of State of Burundi, announced that Somalia has been officially admitted to join the other seven Eastern African countries in the regional organization. This marks a significant step in the expansion of the bloc in East Africa.

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reviewing buhari's administration cash transfer policy

President Muhammadu Buhari established a Conditional Cash Transfer (CCT) programme as part of the broad 2016 Social Intervention Scheme, part of a key campaign promise to reduce poverty through robust social intervention. The Minister of Humanitarian Affairs emphasized the success of the CCT stating in a press brief, that since 2015, over 1 million households (7 million persons) have benefited. However, looking at the overall data, the number of Nigerians in poverty has increased, from 40.1 percent in 2015 to 45 percent in 2023. This data suggests poor households are no better off now compared to 2015. In this article, we discuss some issues and challenges for this. Read more…

how has kenyan president william ruto fared six months into his tenure

Elected on the promise of a “Bottom-Up Economic Transformation,” President Ruto has taken several early actions in line with his pledges of economic transformation. He recently promised a KES50 billion annual commitment to the Hustlers Fund initiative —a financial inclusion fund to provide affordable credit to businesses, aimed at boosting economic growth and employment. He has also kept his promise on the housing and settlement plan by launching several affordable housing projects across the country. Read more…

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