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.
International Monetary Fund (IMF)
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.
Macron calls for "public finance shock" to curb climate pollution
Speakers blamed major economies for a system that puts profits over fighting poverty and caring for the planet.
For world's poorest nations, economic outlook is bleak
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.
Italy undecided about exiting China's Belt and Road Initiative
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 to secure first IMF loan package due to wartime spending
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.
African nations pay 'extortionate' interest rates on debt, U.N. chief says
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."
World bankers meet against backdrop of global inflation and recession threats
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.
U.N. warns world 'on edge of recession'
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.
Hunger caused by climate change, conflicts and rising prices threaten millions in the developing world
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.
War in Ukraine accelerates poverty and starvation
Skyrocketing food and energy prices caused by Russia's invasion of Ukraine pushed 71 million more people into extreme poverty, UNDP reported.
Ukraine maps US$750B postwar recovery plan
More than 40 nations and international organizations signed onto a roadmap for Ukraine's recovery with longterm financial, political and technical support.
Voting rights in international organizations
Proportion of voting rights in international organizations, with only small changes over time to reflect agreement on suspension and negotiated changes.
Proportion of developing countries in organizations
Share of members of international organizations defined as developing countries.
Pandemic, climate, economy top Davos Agenda
Despite U.S.-China tensions, leaders touted cooperation on the pandemic, climate action, and economic recovery during the Davos Agenda virtual gathering.
Europe leads on ESG as global rules sought
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.
Summit marks U.S. re-entry to climate fight
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.