Browsing: Britain

IMF warns British economic plan

The International Monetary Fund issued a stinging statement which sharply criticized the tax plan tabled by the Liz Truss government to help British businesses with their bills this winter.

This is amid soaring energy prices which threaten to ruin many businesses by making their operations unsustainable. The British Standard reports that “Under the estimated £40 billion ($45 billion) plan, announced in a statement, the government will cap the wholesale energy prices that feed into gas and power contracts for businesses for six months.

Thereafter, a review will determine whether ongoing support is needed for specific sectors.” This intervention by the government according to the tabloid translates to a fifty per cent discount on current wholesale prices.

  • The International Monetary Fund (IMF) has openly criticized the UK government over its plan for tax cuts, warning that the measures are likely to fuel the cost-of-living crisis.
  • IMF warnings came as the British

Queen Elizabeth II steered the evolution of the Commonwealth into a forum for effective multilateral engagement whose potential to drive tremendous socioeconomic progress for Africa remains incontestable and redounds to the Queen’s historic legacy.

  • Queen Elizabeth II, Britain’s seven-decade figurehead and the longest-reigning monarch died aged 96.
  • The Queen has performed a fairly neutral position as Commonwealth Head, remaining out of its major issues.
  • Charles, Prince of Wales, emerged as the Queen’s designated successor in 2018 and took office on Thursday following Queen Elizabeth II’s death.

The end of Queen Elizabeth II’s seven-decade reign

Queen Elizabeth II, Britain’s seven-decade figurehead and the longest-reigning monarch died aged 96. After her father’s death, George VI, in February 1952, Elizabeth II ascended to the throne. While the Commonwealth Head of State post is not hereditary, she also took over the position.

At the time of her accession, the Commonwealth consisted of eight nations, …

The United Kingdom (UK) has played a key role in participating in commercial investments in Africa in major production areas with varying results.

  • Without economic growth, social and human development objectives will be difficult to attain and unsustainable
  • UK firms are essential in establishing and contributing to a healthy business landscape in many African nations
  • A deliberate plan for increasing economic cooperation around mutual self-interest concerns is necessary, and the UK must move soon to partner with Africa

Africa’s economic transformation agenda and the United Kingdom’s role

Africa’s development centres on economic transformation.

The African Union’s Agenda 2063 aims to ensure African countries’ transition from natural resource-based economies to advanced industrial economies. African policymakers and the donor community are highly aware that social and human development objectives will be difficult to attain without economic growth and unsustainable.

Read: KENYA AND UK INFRASTRUCTURE DEALS

Africa’s policies aim to transform the continent’s…

  • The ICJ has split the disputed maritime triangle between Kenya and Somalia
  • ICJ rejected Kenya’s argument of a pre-existing agreement with Somalia on a parallel boundary
  • The court also rejected Somalia’s claims that Kenya violated international laws

The International Court of Justice (ICJ) has ruled in favour of Somalia by defining the boundary using a 1934 treaty agreement between Italy and Britain.

By so doing, the colonial powers beacons have been recognised pursuant to international law and conventions.

However, the ruling remains a grey area since on March 18, 2021, Kenya announced that it would not participate in the Maritime Delimitation Case at the ICJ.

This decision, according to Kenya’s Foreign Affairs Ministry, was on account of procedural unfairness at the Court. The decision, the MFA said, was made after deep reflection and extensive consultation on how best to protect the sovereignty and territorial integrity of the Republic of Kenya.…

 

Tanzania is no novice to sisal production, if anything, it is one of the world’s oldest sisal producing countries. Dating back to the late 19th century when the region was then known as the German East Africa Company, sisal was produced by the colonialists, at which time it was the German administration and later the British.

Reports state that sisal production was the colony’s largest export so much that at the time of independence in 1961, Tanzania was the largest exporter of Sisal in the world.

Now, almost 6 decades down the road, Tanzania is working on regaining the status. For one, a quick visit around the sprawling sisal farms that run for miles and miles with their pointed spikes reaching for the skies, one can tell, little to no upkeep is been done to these plantations.

So the government, in June, warned that it will revoke all undeveloped …