Negotiators agree that trillions are needed to help lower-income countries adapt and cope, but not on who should pay.
Tag: Credit and Debt
Global Economic Leaders Confront a New Era of Industrial Policy
Policymakers brace for more protectionism and the demise of “neoliberalism” if Donald J. Trump is re-elected in the U.S.
U.S. Raises New Concerns Over Chinese Lending Practices
A Treasury official will call for greater transparency over emergency currency “swap” loans to struggling countries by China’s central bank.
Africa’s Debt Crisis Has ‘Catastrophic Implications’ for the World
Crushing obligations to foreign creditors that have few precedents have sapped numerous African nations of growth and stoked social instability.
Kenyan President Fires His Cabinet After Nationwide Protests
President William Ruto dismissed all but one of his cabinet secretaries after demonstrations over a finance bill that would have raised taxes led to the deaths of at least 41 people.
U.S. and Europe Eye Russian Assets to Aid Ukraine as Funding Dries Up
Despite legal reservations, policymakers are weighing the consequences of using $300 billion in Russian assets to help Kyiv’s war effort.
World Bank Warns Record Debt Burdens Haunt Developing Economies
Surging interest rates and waning financing options threaten a “lost decade” for poor countries.
Your Tuesday Briefing: Putin Addresses Russia
Also, Pakistan’s military fired three top commanders.
World Bank Projects Weak Global Growth Amid Rising Interest Rates
A new report projects that economic growth will slow this year and remain weak in 2024.
Pressure Mounts on China to Offer Debt Relief to Poor Countries Facing Default
There was optimism at the spring meetings of the I.M.F. and World Bank that China will make concessions over restructuring its loans.