Global Economic Losses Since Dawn of Pandemic Hit $3.3 Trillion (tags)
Since 2020, the global economy lost $3.3 trillion. The loss affected the most vulnerable countries hardest noted International Monetary Fund chief Kristalina Georgieva.
Global Economic Losses Since Dawn of Pandemic Hit $3.3 Trillion (tags)
Since 2020, the global economy lost $3.3 trillion. The loss affected the most vulnerable countries hardest noted International Monetary Fund chief Kristalina Georgieva.
Global Growth Remains Low Amidst Debt Concerns, War and Inflation, Says IMF (tags)
Press release.
Davos: Crises, Developing Country Debt, WB Forecasts (tags)
World Bank Cuts Global Growth Forecast as Developing Countries Struggle with Debt
Mozambique President Meets IMF and World Bank As Debt and Corruption Concerns Loom (tags)
Mozambique President Filipe Nyusi is in Washington for a series of meetings with International Monetary Fund (IMF) Managing Director Christine Lagarde, World Bank President Jim Yong Kim, Secretary John Kerry and US AID's Gayle Smith.
Negotiators Struggle for Agreement on Debt and Tax Issues at UN Development Summit (tags)
A United Nations global development summit begins its fourth day of difficult negotiations in Nairobi, Kenya.
Devastated Nepal Daily Pays $600,000 on Debt (tags)
Nepal underwent another earthquake on May 12 amid recovery from the April 25 quake. It owes billions of dollars of debt to the World Bank, the Asian Development Bank, the International Monetary Fund and foreign lenders. Anti-poverty organization Jubilee USA Network states that debt relief would aid Nepal's recovery efforts.
Argentina Requests Supreme Court Reverse Federal Court Rulings that favor Predatory Hedge (tags)
Argentina officially requested that the US Supreme Court hear an appeal in a debt case that will impact people living in extreme poverty around the world. The case dates back to Argentina's 2001 default, after which 92% of all Argentine bond holders restructured their defaulted debt. Predatory hedge fund, NML Capital leads a small group of holdouts who won judgments for payment in lower US Courts. NML Capital never invested in Argentina and bought the debt cheaply after Argentina's default. Because sovereign lending is contracted in the United States, the precedent the case sets impacts some of the poorest economies around the globe and allows these hedge funds to target assets that benefit poor people. The International Monetary Fund, the Paris Club, legitimate investors, the US and most governments oppose this predatory behavior because it cancels the benefits of debt relief, makes sovereign debt restructuring more difficult and limits credit to poor countries.
Does the Richness of the Few Benefit Us All? (tags)
Zygmunt Bauman, born in 1925, is a Polish sociologist. Since 1971, he has resided in England after being driven out of Poland by an anti-semitic campaign, engineered by the Communist government he had supported.
Isle of Man Enacts Legislation to Outlaw Vulture Funds (tags)
This week, the Isle of Man passed legislation that would prevent vulture funds from exploiting the debts of some of the world’s poorest countries.
Haiti, Is That One of the Tahitian Islands? (tags)
The Yuppie Silence
Protesters Should Love WTO (tags)
Why the anti-globalization movement should try to disrupt the work of the World Trade Organization is a mystery to me. Instead, they should learn to love corporations like McDonald's.