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Analysis: UK slips towards recession, heaping pressure on next PM to help

Analysis: UK slips towards recession, heaping pressure on next PM to help

WILLIAM SCHOMBERG BRITAIN'S slide towards a recession has gathered momentum after data this week showed inflation jumping above 10%, wages lagging far behind price growth and consumer confidence sinking to a record low. The deteriorating picture for the world's fifth-biggest economy comes after the Bank of England warned this month of a 15-month contraction from the end of this year, worse than the outlook for other big European economies and the United States. Higher-than-expected public borrowing figures on Friday underlined the hard decisions facing the next prime minister about how to expand help for the poorest households, which has so…
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African countries call for $100 billion boost

African countries call for $100 billion boost

LOUCOUMANE COULIBALY  ELEVEN African heads of state have called for $100 billion in hardship funding to help dig their economies out of the hole caused by the COVID-19 pandemic. Most African nations have been spared the levels of death and infection caused by the coronavirus in other parts of the world, but lockdowns and reduced travel and trade have thrown sub-Saharan Africa into recession. The leaders met in Ivory Coast's commercial capital Abidjan, where they produced a declaration asking for $100 billion for the period of 2022-2025 from the International Development Association (IDA), an arm of the World Bank Group…
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