Sri Lankan President’s coalition wins majority in snap election
Colombo, Sri Lanka Reuters Sri Lankan President Anura Kumara Dissanayake’s leftist coalition won a thumping victory in a snap general election, gaining power to push through his plans to fight poverty in the island nation recovering from a financial meltdown. Dissanayake’s Marxist-leaning National People’s Power (NPP) coalition won 137 seats of 196 for which direct […]
Jailed Pakistan ex-PM Imran Khan: Would be “foolish” not to have good relations with army
Islamabad, Pakistan Reuters Pakistan’s jailed former Prime Minister, Imran Khan, who blames the military for his ouster and 12-month-old imprisonment on what he calls trumped-up charges, said on Sunday it would be “foolish” not to have “excellent” relations with the army. Ahead of Monday’s anniversary of his jailing on dozens of charges ranging from corruption […]
African faith leaders call for debt forgiveness in 2025 Jubilee year
Nairobi, Kenya RNS African faith leaders are calling for debt forgiveness as the Vatican’s 2025 Jubilee year approaches to help their countries tackle growing economic crises. “We urgently need a new debt jubilee to bring hope to humankind, and to bring the planet back from the brink of becoming uninhabitable,” said 27 religious leaders from […]
Pakistan ex-PM Imran Khan urges IMF to call election audit, his lawyer says
Islamabad, Pakistan Reuters Pakistan’s jailed former prime minister Imran Khan will write to the IMF urging it to call for an independent audit of the country’s controversial 8th February national elections before it continues talks with Islamabad, his lawyer said on Thursday. Pakistan averted default last summer thanks to a short term International Monetary Fund bailout, but […]
Niger arrests politicians after coup, other juntas voice support
Niamey, Niger Reuters The junta that seized power in Niger last week detained senior politicians on Monday, their party said, defying international calls to restore democratic rule, while fellow military rulers in West Africa expressed their support. The overthrow of President Mohamed Bazoum has sent shockwaves across West Africa, pitting Niger’s former Western allies against […]
Paris finance summit breaks new ground in climate, poverty fight
Barcelona, Spain Thomson Reuters Foundation A new patchwork of pledges from the world’s biggest development lenders, set to release hundreds of billions of dollars for poorer nations, has raised hopes the financial floodgates are finally starting to open in tackling climate change and poverty. Last week’s “Summit for a New Global Financing Pact” in Paris […]
Lebanon’s crisis deepens as presidential vote collapses
Beirut, Lebanon Reuters The powerful Hezbollah group and its allies thwarted a bid by their rivals to elect a top IMF official as Lebanon’s president on Wednesday, sharpening sectarian tensions and further dimming prospects for preventing a collapse of the state. Four years since Lebanon went into a financial meltdown that marks its worst crisis […]
Tunisia’s financial crisis leaves the sick struggling to find medicine
Tunis, Tunisia Reuters Sick Tunisians face a frantic struggle to find some medicines because the cash-strapped state has reduced imports, leaving doctors unable to control debilitating health problems and patients turning to informal markets for their medication. Hundreds of medicines have been missing for months, pharmacies say, including important treatments for heart disease, cancer and […]
Debt-laden African countries charged “extortionate” rates, UN chief says
Addis Ababa, Ethiopia Reuters Heavily indebted African countries are getting a raw deal from the international financial system which charges them “extortionate” interest rates, the UN Secretary-General Antonio Guterres said on Saturday. The United Nations chief wants far-reaching reforms to the structure of international finance to serve the needs of developing countries more efficiently, he […]
External backers pour billions into Ukraine to counter war damage
Kyiv, Ukraine/London, UK Reuters Pictures of devastation in Ukraine following Russia’s invasion have sparked urgent questions over how its reconstruction can be paid for. But before they can even begin to be answered, Kyiv is seeking billions just to ride out this year. After a 30 per cent contraction in its economy in 2022, Ukraine […]