International Monetary Fund
Ugandan to lose $1.6 billion in tourism earnings as a result of coronavirus
Uganda will lose $1.6 billion a year in earnings from tourism as visitors stay away due to the impact of the coronavirus, President Yoweri Museveni said. Tourism is one of Uganda’s economic mainstays as the east African country attracts visitors to see a range of game including lions, giraffes, buffalos and others that roam its savannahs. Others are drawn by the mountain gorillas in forest in the southwest of the country on the border with Democratic Republic of Congo and Rwanda. “Already Ugandan will lose 1.6 billion dollars per annum from the loss of tourism,” Museveni said in a speech late on Monday referring to the impact of COVID-19 on the economy. The president did not say what time frame he was referring to. Latest available data from the country’s statistics’ office shows Uganda ea...
ATCON Tasks Nigerian Government to Begin Digitizing the Economy
Sourced from the Guardian Nigeria. The Association of Telecommunications Companies of Nigeria (ATCON) has charged the Federal Government to begin the digitization of the nation’s economy. The association stressed the importance and crucial need for the government to map out fresh plans that would assist the country cope with economic challenges post-COVID-19 pandemic. Olusola Teniola, president of ATCON, told The Guardian Nigeria that every sector of the Nigerian economy should brace for the challenges ahead, stressing that information and communication technology (ICT) would be strategic in diversifying and digitising the economy going forward. /* custom css */ .tdi_3_dff.td-a-rec-img{ text-align: left; }.tdi_3_dff.td-a-rec-img img{ margin: 0 auto 0 0; } Teniola makes clear that the assoc...
Presidency: Nothing wrong with taking more loans
There is nothing wrong in taking more loans to finance specific projects, the Presidency said on Sunday. It urged those criticising efforts in borrowing to develop the country, to desist. Presidential spokesman Femi Adesina said Nigeria has more capacity to accommodate loans. He spoke while featuring on Southwest Political Circuit, a popular political interview programme on Ibadan-based radio station, Fresh F.M. Adesina called from his Aso Rock office to take questions on aspects of COVID-19 management and economic issues. He said that there was no need for Nigerians to raise concern about the country’s rising debt profile because the President Muhammadu Buhari administration is applying loans to the specific projects they are meant for. Although he pointed out that the huge debt, which th...
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