Economy & Trade

Austerity: A Raging Storm for the Developing World that can be Avoided

Finance ministers of the G20 and the world met in Washington, October 10-16, to discuss how to navigate multiple crises, including rising cost-of-living, broken global supply chains, climate shocks, and the lingering COVID-19 pandemic.

Public Development Banks Can’t Drag Their Feet When It Comes to Building a Sustainable Future

A coalition of civil society organisations is demanding public development banks (PDBs) to take radical and innovative steps to tackle human rights violations and environmental destruction. No project funded by PDBs should come at the expenses of vulnerable groups, the environment and collective liberties, but should instead embody the voices of communities, democratic values and environmental justice.

Accelerating Post-Pandemic SDG 6 Achievements on Water & Sanitation

Global progress has been staggeringly inadequate against Sustainable Development Goal 6, “clean water and sanitation for all.” According to the latest SDGs progress assessment, 2 billion people still lack safely managed drinking water, 3.6 billion lack sanitation services, and 3 billion lack basic hygiene services.

Government Indifference Deprives the Trafficked of Compensation

Fourteen-year-old Priti Pyne was returning from school in Basra village in South 24 Parganas, West Bengal, when she and a friend came across a cold-drink seller selling an attractive-looking drink. The moment the girls sipped it, however, they felt dizzy. When they woke up, it was on a Delhi-bound train at Sealdah station in Kolkata. With the help of other passengers, the girls managed to get off the train.

Solar Energy, the Solution for Remote Communities in Argentina

When asked about the impact of incorporating solar energy at the school he runs in Atraico, a remote rural area in the Patagonian steppe in southern Argentina, Claudio Amaya Gatica is unequivocal: "Life has changed, not only for the school but for the whole community.”

Time is Running Out for Decisions on Debt Relief as Countries Face Escalating Development Crisis

Developing low- and middle-income economies are taking hard hits from global economic developments outside their control. Monetary tightening in advanced economies coupled with increasing fears of a global recession have weakened currencies, sent interest rates soaring, and investors fleeing.

Gabon’s Environment Minister Reflects on Conservation Successes, Future Challenges

Over the past few years, Gabon has been successful in its forest conservation efforts. The country has also been able to work hard to achieve the goal of limiting the rise in global temperatures to the 1.5-degree target. Minister of Water, Forests, the Sea, and Environment, Lee White, talks to IPS Correspondent Francis Kokutse:

Stop Worshiping Central Banks

Preoccupied with enhancing their own ‘credibility’ and reputations, central banks (CBs) are again driving the world economy into recession, financial turmoil and debt crises.

Local Solutions Boost Sustainable Micro-Mobility in Cuba

The incorporation of small electric vehicles for public transport, together with initiatives that encourage the use of bicycles, represent opportunities and challenges for Cuba to sustainably and inclusively combat the chronic problems in urban mobility.

Persons with Disabilities Integral Players in Determining Innovative Solutions to Fully Inclusive Societies

Ten years ago, the Asia-Pacific region came together and designed the world’s first set of disability-specific development goals: the Incheon Strategy to “Make the Right Real” for Persons with Disabilities. This week, we meet again to assess how the governments have delivered on their commitments, to secure those gains and develop the innovative solutions needed to achieve fully inclusive societies.

Agroecological Women Farmers Boost Food Security in Peru’s Highlands

Lourdes Barreto, 47, says that as an agroecological small farmer she has improved her life and that of Mother Earth. "I love myself as I love Mother Earth and I have learned to value both of us," she says in her field outside the village of Huasao, in the highlands of the southern Peruvian department of Cuzco.

How Digital Can Drive a Green Recovery

As much of the world was starting to glimpse recovery from the COVID-19 pandemic, it now finds itself amid a cost-of-living crisis brought on by disruptions in global energy and food markets that are the result of conflict and climate change.

Doubts about Chile’s Green Hydrogen Boom

In Magallanes, Chile's southernmost region, doubts and questions are being raised about the environmental impact of turning this area into the world's leading producer of green hydrogen.

Reform Needed As Big Business, Not Vulnerable Communities Benefit from Post-Pandemic Support

Governments and international financial institutions must adopt new ways of providing post-pandemic support, say campaigners after a report found that in many poorer countries, big business benefitted most from Covid-19 recovery funds. At the same time, vulnerable communities have been “left behind.”

University Outreach Project Teaching Tissue Culture to Potato Farmers

Until a few years ago, Kenyan potato farmer Richard Mbaria used to harvest just four tonnes of the crop from an acre of land thanks to poor quality seeds, combined with an attack on the crop by pests and diseases.

Development Banks Should Reform Their Lending Practices

In the last week of September, emerging market (EM) bond fund outflows hit $4.2 billion, according to JP Morgan, bringing this year’s total to a record $70 billion. The exodus, set off by a rising U.S. dollar, is heaping pressure on low-income countries.

Africa, The Looted Continent

Africa. The birthplace of “Homo Sapiens.” The land of plenty. The origin of farming. The richest region in terms of natural resources. And human capital. Home to over 1.3 billion humans, continues to be looted.

How to Get on Track to Eradicate Extreme Poverty

As we approach 2030, the Sustainable Development Goals look harder than ever to achieve. Shocks to the global economy caused by climate change, COVID-19, and conflict threaten humanity's survival. For the most vulnerable, trends are moving in the wrong direction with an additional 75 to 95 million people now living in extreme poverty compared to pre-pandemic World Bank projections. By the end of this year more than 657 million people will still be living in extreme poverty substantially more than in 2018.

Central Bank Myths Drag down World Economy

The dogmatic obsession with and focus on fighting inflation in rich countries are pushing the world economy into recession, with many dire consequences, especially for poorer countries. This phobia is due to myths shared by most central bankers.

Africa is not a Country. It is a Continent.

“If all I knew about Africa were from popular images, I too would think that Africa was a place of beautiful landscapes, beautiful animals and incomprehensible people, fighting senseless wars, dying of poverty and AIDS, unable to speak for themselves”. This quote from the Nigerian writer Chimamanda Ngozi Adichie is in the introduction to Dipo Faloyin's book 'Africa is not a country'. It summarizes Faloyin's book nicely.

Energy Transition: Is it Time for Africa to Talk Tough?

Thirty-year-old Difasi Amooti Kisembo is one of the demonstrators near the EU delegation offices in Kampala. He and a handful of others have traveled from Uganda’s oil and gas-rich Albertine region’s district to Uganda’s capital Kampala to express their displeasure with an EU Parliament’s resolution against the planned construction of the East African Crude Oil Pipeline.

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