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Zambia president blames private creditors for debt deal delays
Zambia president blames private creditors for debt deal delays
by  AFP

Zambia's President Hakainde Hichilema on Friday blamed private creditors for holding up a long-sought debt restructuring deal for the first African nation to default after the Covid pandemic. The framework has been criticised as many African nations are either already in, or on the edge of, debt distress.

US to target banks that help Russia war in Ukraine
US to target banks that help Russia war in Ukraine
by  AFP

The United States said Friday it will sanction foreign banks that support Russia's war in Ukraine, in a new bid to exert economic pressure on Moscow as it diversifies from the West to China.

UK economy shrinks before election year
UK economy shrinks before election year
by  AFP

Britain's economy unexpectedly shrank in the third quarter and flatlined in the previous three months, official data showed Friday, raising fears of a recession before an election due next year. "The latest (GDP) data... show the economy performed slightly less well in the last two quarters than our initial estimates," Morgan added.

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