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Tuesday, June 9, 2026
News and Views from the Global South
Energy
World Bank Enables Corruption in Bangladesh
The World Bank considers corruption a major obstacle to eradicating global poverty. The Bank officially has a zero-tolerance policy against fraud and corruption in its projects. Concerned with widespread corruption in Bangladesh, the Bank and the Government agreed on the Governance-oriented Country Assistance Strategy (GCAS) in 2006 and the Bank’s subsequent Country Partnership Strategy (CPS) ostensibly has been more selective on governance and anti-corruption (GAC) issues. Ironically, however, the Bank’s funding enables corruption. The Bank’s recent decision to advance a US$350 million loan allegedly for enhancing energy security is a glaring example.
UN Climate Resolution: Time to Protect Activists
Ahead of World Environment Day, the UN General Assembly made a vital commitment to protect people from climate impacts, adopting a resolution on the climate change obligations of states. The resolution follows up on the International Court of Justice (ICJ) advisory opinion issued last year, which found that states have a legal duty to prevent activities that cause environmental harm. Most states voted for the resolution despite a concerted campaign by the Trump administration to block it.
Increased Rates of Deaths, Displacement and Diesel Amid New Ceasefire Escalations in Lebanon
Last week on May 28, the Israeli Defence Forces (IDF) issued an evacuation order to Lebanese civilians ordering them to move north of the Zahrani River, approximately 25 miles from the Israeli border, and roughly 20 percent of the Lebanese territory. These new escalations bring the displaced population to more than 1.3 million people, including more than 300,000 of those people being children. 1.3 million people represents approximately 1/4th of the nation's population of 5.3 million.
India’s LED Story Highlights How Blended Finance Powers Environmental Action
Ahead of the Eighth Global Environment Facility (GEF) Assembly in Samarkand, governments and development institutions are grappling with a familiar challenge: How to finance environmental action at the scale required to meet rapidly growing needs.
New US Fed Policy Deepens World Stagflation
The Federal Reserve Bank’s turn to ‘reserve management’ exposes the limited policy options still available as the US seeks to protect itself against international stagflation stemming from President Trump’s policies.
Japan and Kazakhstan: A Partnership for an Age of Energy Insecurity and Nuclear Risk
The relationship between Japan and Kazakhstan is often described in terms of diplomacy, investment and regional cooperation. But at a time of growing geopolitical uncertainty, it deserves to be understood in broader terms: as a partnership linking cities, resources, technology and peace.
Countries Unevenly Impacted by Global Economic Shocks from Mideast Conflict
The ongoing crisis in the Middle East and the closure of the Strait of Hormuz continue to put immense stress and risk on the global economy.
The Iran War Exposes the Fragility of Our Fuel-Dependent Food System
Sharp surges in energy, fertilizer, and food prices triggered by the ongoing conflict in the Persian Gulf strikingly illustrate the deep interconnections between geopolitical conflict, food insecurity, and the fragility of fossil fuel–dependent food systems.
Civilian Casualties Grow Amid Russian and Ukrainian Drone Strikes
Four years after the start of the Russo-Ukrainian War, 2026 has marked a significant escalation in hostilities, with intensified bombardments from both sides causing immense destruction across the region, complicating humanitarian operations, and deepening an already severe humanitarian crisis. As exchanges of attacks have intensified in recent days, the United Nations (UN) warns that women and girls will be disproportionately impacted as violence disrupts access to basic, lifesaving services.
Gaza’s Deepening Health Crisis Leaves Hospitals Overwhelmed
Despite the implementation of a ceasefire between Hamas and Israel last October, Israeli forces continue to launch airstrikes into the Occupied Palestinian Territory. This has resulted in extensive destruction of infrastructure, loss of human life and exacerbating immense health needs amid an increasingly strained health system in Gaza.
Santa Marta Summit Aims to Push Fossil Fuel Phase-Out as Indigenous Voices Demand Urgent Action
A high-stakes international summit in Colombia starting today (April 24) is expected to sharpen global efforts to phase out fossil fuels, as governments, scientists and Indigenous leaders warn that the world is running out of time to avert irreversible climate damage.
“War-Shock Inflation” and Inflation Phobia: Lessons of History for Central Bankers
The global economy, is at the precipice of “stagflation” – growth slowdown and higher inflation – due to the energy price shock following the illegal US-Israel war on Iran. The International Monetary Fund (IMF) has recently termed this as a “textbook negative supply shock”. For the first time since the 1970s, the prospect of stagflation seems real.
Civil Society Launch a Campaign Against Extractive Industry Exploitation and Land Grabs
Over 800 households in Ikolomani Constituency in Kakamega County, Western Kenya, fear eviction to pave the way for a British firm, Shanta Gold Limited, to begin extracting gold valued at Sh683 billion ($5.29 billion) on an estimated 337 acres of residential and agricultural land.
Israeli Strikes Across Iran and Lebanon Raise Concerns of Broader Regional Instability
The past several weeks have marked a significant escalation in hostilities across the Middle East, with tensions rising among Israel, Lebanon, Iran, and the United States following large-scale exchanges of bombardment. Recent statements from U.S. President Donald Trump, including threats of extensive destruction in Iran, have further inflamed regional tensions and complicated ongoing diplomatic efforts. Humanitarian experts warn that these developments risk further destabilizing cross-border relations and could trigger a broader regional conflict.
Japan and Kazakhstan Draw Closer as Iran Crisis Reshapes Energy and Security Priorities
As tensions surrounding Iran deepen and uncertainty spreads across global energy markets, Japan is once again confronting a structural weakness: its heavy dependence on Middle Eastern oil.
Regime Change – Sometimes It Works, Often It Doesn’t
Donald Trump ran on a platform of ending wars. After his success in Venezuela, he is intoxicated by his military achievements and is banking on regime change in several countries.
Iran War Threatens World Food Crisis
While media coverage of Iran’s restrictions on passage through the Hormuz Straits focuses on fuel prices, partial closure is also disrupting crucial fertiliser and other supplies, risking catastrophe for billions worldwide.
War in Iran, Middle East Threatens Global Agrifood Systems
The current conflict in Iran and the Middle East region threatens to disrupt the global energy and agri-food sectors, as the closure of the Strait of Hormuz affects oil and fertilizer exports for farmers during critical harvest seasons.
Iran War: Winners and Losers
Who benefits from a war of choice against Iran? The immediate political winners may include President Donald Trump and Prime Minister Benjamin Netanyahu. But if the war continues for a longer period, the political consequences for both Trump and Netanyahu could be uncertain. However, the most consistent beneficiaries are defense contractors, defense manufacturers and military lobbyists, who profit regardless of the outcome.
Central Bank Hedging Triggered Gold Fever
In mid-1971, US President Nixon ended the dollar’s gold peg at $35 per ounce, triggering de-dollarisation. The 2025 gold and silver rush followed private speculators trying to profit from central banks hedging against perceived new risks.
Oil Shocks, Political Upheaval and the One Solution Governments Keep Ignoring
Once again, global oil prices are spiking, driven by the Israeli-US war against Iran. With Iran retaliating by attacking infrastructure and transport hubs and blocking the Strait of Hormuz, through which one-fifth of the world’s oil passes, oil supplies from the region are being choked, pushing up prices. The cost of a barrel of Brent crude – the international benchmark for oil prices – stood at US$73 before the conflict but has surged beyond US$100 since. It could go higher still as war continues.Next Page »
