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Debt Crisis

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Life president: NRM Presidential Candidate Yoweri Kaguta Museveni, together with the First Lady Maama Janet Museveni, arrive at Buziga Islamic School grounds, Makindye Division, to kick off election campaigns. Photo: National Resistance Movement
AFRICA

Africa 2026: polls sans choice, jobs

In addition, some of the continent’s wars show little sign of resolution

  • Alex Vines
7 min read
The handover of the G20 presidency to the United States will occur on Tuesday at the Department of International Relations offices. (GCIS)
ADRIANA ABDENUR

G20 presidency handover to the US set for Tuesday, Dirco director general Zane Dangor says

Dangor said the US argument that if one G20 member was absent from the leaders summit, then there could be no consensus, had been voted down

  • Nkateko Joseph Mabasa
3 min read
WTO director general Ngozi Okonjo-Iweala and President Cyril Ramaphosa. (X)
ADRIANA ABDENUR

‘World not doing tit for tat with US,’ WTO head says at G20 summit

Director general Ngozi Okonjo-Iweala said South Africa’s G20 presidency highlighted the importance of trade within WTO rules and reforming the system through local mineral…

  • Nkateko Joseph Mabasa
3 min read
The G20 leaders summit was held in South Africa last week. (GCIS)
ADRIANA ABDENUR

‘G20 declaration future-proofed, despite US non-participation’, says South Africa’s presidency

Presidency spokesperson Vincent Magwenya said countries understood ‘that there’s a bilateral issue between South Africa and the US, but that must not, in any shape or form,…

  • Nkateko Joseph Mabasa
3 min read
President Cyril Ramaphosa. (GCIS)
ADRIANA ABDENUR

Ramaphosa: G20 leaders summit reaches consensus on adopting a declaration

In an apparent reference to US President Donald Trump’s absence, Ramaphosa warned against allowing ‘anything to diminish the value, the stature or the impact of the first African…

  • Nkateko Joseph Mabasa
4 min read
President Cyril Ramaphosa. (GCIS)
ADRIANA ABDENUR

Ramaphosa launches G20 panel to address extreme global inequality

The panel, chaired by Nobel prize-winner economist Joseph Stiglitz, will produce recommendations to help bridge the rich-poor divide

  • Nkateko Joseph Mabasa
4 min read
In recent years, research Wright and colleagues led has highlighted how prolonged heat exposure places outdoor workers, children, older people and low-income communities at increased risk of dehydration, heat stress, respiratory illness and other adverse health outcomes. The risks are expected to intensify as temperatures continue to rise. (Envato Elements)
ASIAN DEVELOPMENT BANK

Debt, heat and uprisings: What Seville failed to solve

The UN Financing for Development Summit failed to deal with the real issue of funding Asian, African and other countries who are hit hardest by the climate crisis yet contribute…

  • Khaliel Moses
5 min read
Finance minister Enoch Godongwana. (Photo by Jeffrey Abrahams/Gallo Images via Getty Images)
BASIC INCOME GRANT

Long wishlist for Godongwana ahead of Wednesday budget speech

Political parties and trade unions are asking the finance minister to address the growing national debt crisis and to extend the R350 grant

  • Anathi Madubela
5 min read
In 2020, former finance minister Tito Mboweni Tito Mboweni announced his plan to reduce the public sector wage bill in an effort to squeeze some of the air out of the country’s ballooning debt and fiscal deficit. (Delwyn Verasamy/M&G)
COVID 19

Mboweni extends R38bn to cope with double calamity of Covid-19 and unrest

The finance minister extended the Ters relief and the social distress relief grant, and also ensured businesses hit by looting can access insurance

  • Emsie Ferreira
3 min read
(John McCann/M&G)
AFRICA

Debt crisis may be good for Africa

The IMF and World Bank should use the crisis to divert cash to Global South countries to ease the effects of climate change

  • Tunicia Phillips
7 min read
The current inland price for a litre of 95 octane unleaded petrol is R14.08. From Wednesday, this will rise to R14.82 per litre. (Delwyn Verasamy/M&G)
DEBT CRISIS

Petrol, toll fees to add to consumer debt burden

The department of energy announced that petrol prices would increase 49c/l on May 2, while diesel will increase by 59c/l at most

  • Fin1
2 min read
Tighter rules will govern how much shares can swing in the first three days after the reopening of the exchange.
ANGELA MERKEL

European ‘bank union’ could prevent another debt crisis

Plans underway by Angela Merkel’s Chancellory could see the power to deal with struggling banks move from national to European level.

  • Jan Strupczewski
  • Annika Breidthardt
5 min read
CYPRUS

Savings tax mooted to save Cypriot banks sunk by Greek debt

The European Union said it will assist if Cyprus contributes about €7-billion in revenue.

  • Chantelle Benjamin 1
1 min read
Unscrupulous creditors are trading on ignorance.
CHANTELLE BENJAMIN

Ghastly garnishee abuse exposed

The full extent of garnishee abuse is not known but a case study by law firm Edward Nathan Sonnenbergs has set alarm bells ringing.

  • Sapa
10 min read
The creation of the eurozone now seems such an ill-considered idea.
DEBT CRISIS

Spend, spend, spend … it is the only way out of the depression

Author Paul Krugman says ending this recession should be easy but we seem to be making it painful, writes Decca Aitkenhead.

  • Decca Aitkenhead
14 min read