Commercial creditors need to support debt relief for the poorest countries and cannot just “free ride” on a suspension in debt payments by official bilateral creditors, World Bank President David Malpass said on Friday. Malpass told the World Bank’s Development Committee that the debt relief initiative agreed this week by the Group of 20 economies and the Paris Club was…
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ISLAMABAD: Pakistan’s public debt may rise to 90% of national economy or Rs37.7 trillion by June this year and its balance of payments situation may worsen due to severe health and economic shocks in the aftermath of the deadly pandemic, a new International Monetary Fund (IMF) report reveals. In its report, the IMF has disclosed that Pakistan will have to…
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The African Union Commission (AUC) and the International Renewable Energy Agency (IRENA) have agreed to work closely to advance renewable energy across the continent to bolster Africa’s response to Covid-19. The two organisations will focus on innovative solutions to drive the development of renewable energy including decentralised systems, and to increase access to energy across the continent. The cooperation aims…
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This year’s Africa Energy Forum (aef) (www.Africa-Energy-Forum.com) has been rescheduled to take place in Amsterdam, the Netherlands from 20-22 October 2020. Previously due to take place in July, the move comes in the interests of all attendees’ safety after monitoring the COVID-19 situation and its impact on global economies. The Forum, organised by EnergyNet, brings together decision-makers in Africa’s energy…
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The overall capacity of all wind turbines installed worldwide by the end of 2019 reached 650,8 Gigawatt, according to statistics presented today by the World Wind Energy Association (WWEA) during a webinar. 59’667 Megawatt were added in the year 2019, substantially more than in 2018 when only 50’252 Megawatt got erected. 2019 was the second strongest wind year in terms…
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The Economist is making some of its most important coverage of the covid-19 pandemic freely available to readers of The Economist Today, our daily newsletter. To receive it, register here. For our coronavirus tracker and more coverage, see our hub When bernie madoff owned up to a $65bn Ponzi scheme in December 2008, it was not out of guilt. He…
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The adverse effects of being glued to the television, newspapers and social media under the current lockdown is starting to show in the form of stress, strain and depression in many. But this may compromise the body leading to decrease in immunity to fight the coronavirus, it has emerged. “I have started trying new recipes and taken up baking,” says…
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Amid the row over capacity payments, the independent power producers (IPPs) have offered the government to carry out a forensic audit by hiring a renowned chartered accountancy firm. In a meeting held between representatives of the IPPs and government officials on Thursday, sources quoted the IPPs as saying that if the government felt that power producers were involved in malpractices,…
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ISLAMABAD: During the much-awaited talks with the independent power producers (IPPs), the government here on Thursday placed a set of demands for material changes in power purchase agreements (PPAs) paving way to reduce the tariff for domestic, commercial and industrial sectors asking to provide ease to the people and making industry stand on its feet, a senior official who was…
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The government is focusing on wrong policy initiatives due to which the circular debt is ever increasing. In fact the recoveries of past years have been shown as increased collection when the regulator adjusted and allowed prior year adjustments in the distribution tariff. The wrong focus is on the generation cost and rewriting of the contracts whereas the actual malaise…
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