Germany might be known for its proud culture of technological innovation, but it's not uncommon for newcomers and tourists to be caught out at cafes and small businesses that only take cash.
Although online and mobile payment systems such as Apple Pay have made inroads in recent years, for many...
Stark warnings about the COVID-19 shock’s potentially devastating effects on emerging markets (EMs) have become ubiquitous. With the pandemic engulfing ever more countries, EMs face a mass exit by foreign investors seeking safe assets. As a result, capital outflows and currency depreciations have become unprecedentedly synchronized.
A first round of...
A new weather forecasting system in Africa allows meteorologists to track approaching storms in real time, potentially saving lives from climate-related disasters, scientists said on Monday.
The technology is already used in developed countries but was not available until recently in most of sub-Saharan Africa, according to scientists behind the...
US president Donald Trump continued his funding threats to the World Health Organization, WHO; with a May 18 letter that threatened outright withdrawal of the US from the organization.
The four-paged letter addressed to the WHO Director-General, Tedros Adhanom Ghebreyesus said that the body had 30-days to undertake needed reforms. “I will make my temporary freeze of United States funding...
…unprecedented crisis could push up to 60million into extreme poverty
The World Bank Group has announced its emergency operations to fight COVID-19 (coronavirus) have reached 100 developing countries – home to 70 percent of the world’s population.
Since March, the Bank Group has rapidly delivered record levels of support in order to help countries...
As the COVID-19 pandemic takes a toll on African health systems and their economies, African governments are staking a claim for debt relief or outright cancellation of debts owed to China and the west.
Ghana’s Finance Minister, Ken Ofori-Atta, and the South African Finance Minister, Tito Mboweni, have been leading...
As the novel COVID-19 pandemic continues to ravage economies, its full toll on agriculture is yet to be reckoned more fully. The restrictions on movement and the limited social interactions will strain livelihoods and the agricultural supply chain as access to inputs and extension support services by the already vulnerable...
The Nigerian naira is seen weakening in the days ahead on the back of accumulated demand, while the Kenyan shilling could steady as importer appetite in the energy sector sags.
Nigeria
Nigeria’s naira is seen weakening on the black market as dollar demand balloons from foreign investors and importers with payment...
Many are calling for a temporary moratorium on all debt repayments by developing and emerging economies, in order to prevent the COVID-19 pandemic from triggering a tsunami of sovereign defaults. Rather than waiting passively until debtors stop meeting their obligations, the argument goes, creditors would be better off agreeing...
• Global trade values fell 3% in the first quarter of 2020
• An estimated quarter-on-quarter decline of 27% is expected in the second quarter
• Commodity prices fell by a record 20% in March, driven by steep drops in oil prices
The coronavirus pandemic cut global trade values by 3% in...