World Bank Stories
Ruto emphasised that it aims to support at least 70 youths per ward across the country by providing grant funding, business training, and market linka...
The lender argues that taxing these items would expand fiscal space without burdening the poor, as they form a minor part of low-income households’ sp...
However, the Bank strongly recommends imposing the tax on fuels at the point of entry into the country, saying this would better reflect the true soci...
When travelling abroad, especially to the United States, civil servants receive about $513 (Sh66,317) daily, a figure the World Bank says needs urgent...
The World Bank indicated that inefficiencies in payroll management, excessive allowances and unchecked staff expansion, particularly at the county lev...
A recent World Bank report states that the 2.75 per cent SHIF payroll deduction places a financial strain on low-income workers and small businesses.
The lender highlights the narrowing room for manoeuvre in the country’s budget, driven by ballooning debt servicing costs, persistent revenue shortfal...
World Bank pegs the shortfall to the occurrence of political violence on the continent, which increased about eightfold between 2000 and 2023, and wit...
The inspection team urged local communities to form leadership committees to oversee the proper utilisation of the facilities, which are expected to b...
However, despite the anticipated fall, the lender notes that prices will remain higher than pre-Covid levels, reflecting ongoing supply chain challeng...
Ethiopia opted to restructure its external debt under the G20's Common Framework in 2021, before it defaulted on its sole Eurobond in December 2023.
The plans would be the first known instance of Saudi Arabia providing financing for Syria since Islamist-led rebels toppled former leader Bashar al-As...
The World Bank's support covered crucial aspects such as blood collection, testing for infectious diseases, processing blood components and digitalisi...
As some Kenyans, mostly the youth, criticise Ruto for making yet another promise, which they doubt he will keep, others have printed t-shirts with ill...
Ideally, when agricultural, cereal and export price indices increase, it often signals a rise in the cost of essential food commodities like grains an...
The continent has the highest number of people without access to electricity globally and is racing to connect homes to power by 2030 under a plan dub...
Additionally, the lender highlights that the region has also made slow progress in expanding the ranks of its middle class, additionally stating that...
China received more in debt payments than multilateral lenders, including the World Bank and the African Development Bank.
The global lender attributes the smaller import share of the essential commodities to high duties and taxes that consequently increase their cost.
Today, about 700 million people or 8.5 per cent of the global population, live in extreme poverty on less than $2.15 (Sh280) a day.
The authors suggest that based on the DSA, Ethiopia is facing a short-term liquidity crunch, and not a long-term solvency issue, a point of contention...
With international cooperation and a commitment to reforms, Somalia is poised to rebuild its economy and improve the lives of its citizens.
Kenya’s debt service costs on external debt more than doubled in 2023, rising from Sh403 billion to Sh839 billion. This sharp increase was attributed...
The World Bank warned that such practices could erode public trust and stoke protests.
The report emphasised the urgency of accelerating structural reforms, particularly in light of Kenya’s fiscal constraints.
Kenya has managed to stabilise its foreign exchange rate, boost hard currency reserves held by the Central Bank and lower inflation this year.
Principal repayments exceeded Sh500 billion in the past year alone, highlighting Kenya's growing debt burden.
The total exceeds the previous $93 billion International Development Association replenishment announced in December 2021.
