Africa aspires to major role in the effort to combat climate change
African leaders say they have a market-based plan to fight human-caused global warming that will spread economic development among millions of people on the continent.
The IMF is a cooperative institution of member countries that lends money to members having difficulties meeting financial obligations to other members. The loans are handed out on condition that economic reforms are undertaken to eliminate these difficulties for their own good and that of the entire membership.
African leaders say they have a market-based plan to fight human-caused global warming that will spread economic development among millions of people on the continent.
Speakers blamed major economies for a system that puts profits over fighting poverty and caring for the planet.
As interest rates soar and the economy slows, the World Bank sees an 'enduring setback' for developing economies due to high interest rates, war in Europe and the pandemic.
As the only G-7 member to have joined Beijing's sprawling global pact, Italy had indicated it would leave. But now Prime Minister Giorgia Meloni says the decision is still up in the air.
Ukraine incurred a huge deficit mainly due to its enormous military spending, and had to rely on its central bank printing more money to loan to the government.
Women and girls still don't get the support they need, U.N. Secretary-General António Guterres said, and African nations cannot develop with "one hand tied behind their backs."
With leadership under fire and a community facing an historic convergence of crises, finance ministers and central bankers met at the World Bank and IMF.
The world is on the brink of recession, UNCTAD said in projecting growth slowing to 2.2% in 2023 with cascading crises of debt, health and climate.
While you are reading this sentence, another man, woman or child will have died of starvation. That’s the message of an open letter from hundreds of NGOs.
Skyrocketing food and energy prices caused by Russia's invasion of Ukraine pushed 71 million more people into extreme poverty, UNDP reported.
More than 40 nations and international organizations signed onto a roadmap for Ukraine's recovery with longterm financial, political and technical support.
Proportion of voting rights in international organizations, with only small changes over time to reflect agreement on suspension and negotiated changes.
Share of members of international organizations defined as developing countries.
Despite U.S.-China tensions, leaders touted cooperation on the pandemic, climate action, and economic recovery during the Davos Agenda virtual gathering.
The rise of ESG investing creates an "urgent demand for global standards," says an organization working on them as the next U.N. climate summit nears.
A global summit's mood was perhaps best reflected in the U.N. chief beaming at the new U.S. climate envoy's pledge to restore American climate leadership.