Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. The debt may be owed by sovereign state or country, local government, company, or an individual. Commercial debt is generally subject to contractual terms regarding the amount and timing of repayments of principal and interest. Loans, bonds, notes, and mortgages are all types of debt. The term can also be used metaphorically to cover moral obligations and other interactions not based on economic value. For example, in Western cultures, a person who has been helped by a second person is sometimes said to owe a "debt of gratitude" to the second person.
The minister for Legal and Constitutional Affairs, Dr Mwigulu Nchemba, presents in Parliament on behalf of the minister for Finance and Planning some information on the proposed five-year National Development Plan (2021/2022 - 2025/26) and the State Budget for FY-2021/2022, in Dodoma yesterday...
Kenya seeks G20 $298m debt holiday extension
Kenya may receive additional debt relief from the Paris Club of international creditors to help ease Covid-19 related financial distresses.
The country has already received Ksh32.9 billion (about $298.6 million) loan repayment break which it would...
Tanzania: Why Tanzania's Inflation Rate Has Remained Lowest in East Africa
Credit: Josephine Christopher
Dar es Salaam — Tanzania recorded the lowest inflation rates among the East African nations last year, with analysts saying the trend signals stable prices in the country.
Tanzania's debt surging, but government says it’s still sustainable
By BEATRICE MATERU More by this Author
Despite the increase, the Ministry of Finance says that the debt is still sustainable.
For the year 2020/2021, the indicative debt burden threshold in Tanzania is 55...
According to the Financial Times, China has transferred nearly $150 billion to governments and state-owned firms in Africa alone to secure commodity supplies and fund its global network of infrastructure projects, President Xi Jinping’s signature Belt and Road Initiative. (Reuters image)...
Zambia clinches deal to defer Chinese debt
THURSDAY OCTOBER 29 2020
Zambian President Edgar Lungu. FILE PHOTO | AFP
The move to defer debt comes three months after Zambia's President Edgar Lungu asked his Chinese counterpart Xi Jinping for debt relief due to the economic impact of the...
WSF: Italy signs Kenya's debt cancellation
Home / APC Talk / WSF: Italy signs Kenya's debt cancellation
By APC | 23 January 2007
At the World Social Forum the International Alliance of Inhabitants (IAI) entered in a dialogue with the Italian Minister for Development Co-operation, Patrizia...
Kenya’s debt races past Ksh.7 trillion
By Kepha Muiruri For Citizen Digital
Published on: October 12, 2020 10:00 (EAT)
File Photo of The National Treasury
The roughly Ksh. 1 trillion addition in the public debt registry is largely attributable to an unrestrained borrowing...