Puerto Rico’s religious leaders have called for debt relief of the Caribbean U.S. territory in the face of the 72 billion dollar liability that represents 20,000 dollars of debt for every man, woman and child.
Despite high expectations, the third International Conference on Financing for Development (FfD) ended on a predictable note: the United Nations proclaimed it a roaring success while most civil society organisations (CSOs) expressed scepticism over the final outcome.
A major donor conference in Nepal’s capital, Kathmandu, came to a close on Jun. 25 with foreign governments and aid agencies pledging three billion dollars in post-reconstruction funds to the struggling South Asian nation.
The 7.8 magnitude earthquake that shook Nepal in April, and the numerous aftershocks that followed, left the country with losses amounting to a third of its economy.
The death toll has now passed 3,300, and there is no telling how much farther it will climb. Search and rescue operations in Nepal entered their third day Monday, as the government and international aid agencies scramble to cope with the aftermath of a 7.8-magnitude earthquake that struck this South Asian nation on Apr. 25.
Last Fall, I witnessed the Grenada Council of Churches insert themselves into negotiations between their government and the International Monetary Fund (IMF) around the island’s debt restructuring and presumed austerity policies. Religious leaders called from pulpits across the tiny island for a “Jubilee” or national debt cancellation.
Aggressive creditors and investors are seriously undermining the ability of poor countries to deal sustainably with debt issues, academics and anti-poverty campaigners told a briefing at the U.S. Capitol on Wednesday.
Key multilateral institutions charged with improving regulation of the international financial system are failing to democratise their governance and adequately consider the impact of their actions on the world's poor, says a new report by anti-poverty groups.
As the International Monetary Fund shares initial proposals for Grenada's debt restructuring during the Washington DC meetings this week, the Caribbean island could gain a reputation for more than nutmeg, calypso, beaches and the 2012 gold medal sprinter Kirani James.
Four hundred million children under 13 years of age are living in extreme poverty worldwide, according to a new study
released by the World Bank here Thursday.
Anti-poverty campaigners are celebrating the Norwegian government’s release of an external audit of all outstanding public debts it is owed by developing countries, the first time any country has undertaken such a process.
The United States is being singled out for criticism after the Group of Eight (G8) rich countries failed to adopt a plan pushed by British Prime Minister David Cameron to require the creation of public country-level registries with detailed information on corporate ownership and activity.