Monday, August 8, 2022
  • Login
Upgrade
The Southern African Times
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs
No Result
View All Result
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs
No Result
View All Result
The Southern African Times
No Result
View All Result
Home Eastern Africa

World bank approves $1 bln funding to Kenya for budget support: minister

by SAT Reporter
May 20, 2020
in Eastern Africa, Just In, Kenya
0
0
VIEWS

NAIROBI (The Southern African Times) – The World Bank has approved a $1 billion loan for Kenya to support its budget, finance minister Ukur Yatani said on Wednesday. 

The COVID-19 pandemic has caused the government’s budget deficit to swell to 8.2% of GDP in the financial year to the end of June, from an initial forecast of under 7%, mainly due to reduced tax collection and foregone revenue in the form of VAT and income tax cuts.

The fact that WB (World Bank) does not provide budget support to countries with a weak macro framework is a testimony of the confidence levels of the bank in our new policy reforms,” Yatani said on his Twitter account. 

The World Bank expects growth to fall to 1.5% this year from 5.4% last year due to the pandemic, but the government has a higher forecast of 2.5-3%. 

The loan comes two weeks after the IMF approved $739 million in emergency financing to help Kenya respond to the economic shock caused by the pandemic, a move which has supported the shilling currency. 

Kenya has reported 963 cases of the novel coronavirus and 50 deaths.

Previous Post

Lesotho PM Thomas Thabane resigns, soothing political crisis

Next Post

Polls open in Burundi amidst health and violence concerns

SAT Reporter

Related Posts

Kenya commences shipment of fresh avocados to Chinese market
Business

Kenya commences shipment of fresh avocados to Chinese market

by SAT Reporter
August 3, 2022
US Appoints New Consul General for Lagos
Nigeria

US Appoints New Consul General for Lagos

by SAT Reporter
August 2, 2022
Russia and the West are vying for influence in Africa and Ukraine is a big reason why
International news

Russia and the West are vying for influence in Africa and Ukraine is a big reason why

by SAT Reporter
August 1, 2022
South Africa’s ruling party proposes to nationalise the Reserve Bank
South Africa

South Africa’s ruling party proposes to nationalise the Reserve Bank

by SAT Reporter
August 1, 2022
Kenyan president hails Chinese-built roads for boosting development

Kenyan president hails Chinese-built roads for boosting development

by SAT Reporter
August 1, 2022
Next Post

Polls open in Burundi amidst health and violence concerns

Premium Content

Wildlife Picture from The Southern African Times Library

Virtual safaris keep wildlife in sight for absent tourists

May 22, 2020
Commonwealth election observers arrive in the Gambia

Commonwealth election observers arrive in the Gambia

November 27, 2021
Central Bank Extends Covid-19 Relief Programme

Central Bank Extends Covid-19 Relief Programme

October 26, 2021

Browse by Category

  • African Continental Free Trade Area
  • African Start ups
  • Algeria
  • Analysis
  • Angola
  • Asia
  • Botswana
  • BOTSWANA
  • Burkina Faso
  • Burundi
  • Business
  • Business
  • Cameroon
  • Central Africa
  • China
  • Climate Change
  • Climate Changev
  • Congo Republic
  • COVID 19
  • Culture
  • Democratic Republic of Congo
  • Eastern Africa
  • Education
  • Egypt
  • Entertainment
  • Environment
  • Ethiopia
  • Europe
  • Fashion
  • Finance
  • Food
  • Food and Drink
  • Foods
  • Ghana
  • Global
  • Guinea
  • Health
  • Immigration
  • in Southern Africa
  • International news
  • Just In
  • Kenya
  • Lesotho
  • Libya
  • Life Style
  • Lifestyle
  • Malawi
  • Malawi
  • Mali
  • Markets
  • Middle East
  • Mozambique
  • Namibia
  • Nigeria
  • North Africa
  • Opinion
  • Politics
  • Rwanda
  • Senegal
  • Seychelles
  • South Africa
  • South Sudan
  • Sports
  • Startup Africa
  • STOCK EXCHANGE
  • Tanzania
  • Tech
  • Togo
  • Travel
  • Travel
  • Tunisia
  • Uganda
  • Uncategorized
  • West Africa
  • World
  • World
  • ZAMBIA
  • Zambia
  • Zimbabwe
  • ZIMBABWE

Browse by Tags

africa African business news Africa New Africa News african footballer African investments african markets African news African start-up banking Business China Classic Climate change Content currency Explore Bali Finance football Investment Life Style Markets Market Stories Namibia news Oilandgas oil and gas Opinion Pandemic Politics Premium Russia South Africa Southern African News sports Stay Home Travel United Kingdom United Stated Vaccine Work From Home Wuhan Zambia Zimbabwe Zimbabwe Harare Manufacturing Africa Employment creationn

WHO WE ARE

The Southern African Times is a regional bloc digital newspaper that covers Southern African and the world news. The paper also gives a nuanced analysis on news and covers a wide range of reporting which include sports, entertainment, foreign affairs, arts and culture.

Facebook Twitter Youtube Instagram Rss

Copyright © 2022 The Southern African Times | Powered by The Southern African Times

Privacy Policy

Terms and Conditions

  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?