The International Monetary Fund has called on the world’s largest economies to extend debt relief, warning of an economic catastrophe in developing countries without such help. The G20 Debt Service Suspension Initiative (DSSI) expires at the end of the year, and without a renewal, developing countries would face financial...
The United States of America will invest in five to 10 large infrastructure projects around the world in January, as part of a wider G-7 initiative to counter the growing dominance of China. U.S. President Joe Biden launched his Build Back Better World, or B3W, plan during the June...
Walking through Glasgow you’d be forgiven for thinking the pandemic is over. Motorcades carrying world leaders are bustling for space as armed bodyguards wrestle to showcase their individual and state prowess in Scotland’s capital. The port resembles a classy exhibition showcasing the most luxurious yachts the world has...
It may be located 6,500 miles from the capital of the European Union, Brussels, but this West African country holds the key to a zero-emissions future the bloc seeks. Last week, the EU proposed an effective ban on the sale of new petrol and diesel cars from 2035 as...
Makthar Diop, the World Bank’s vice president for infrastructure, has been appointed to head the International Finance Corporation (IFC), becoming the first African to lead the Washington based lender’s arm for the private sector. Diop will take over at the IFC at the beginning of March, World Bank...
Over 2.5 million people have died, and the confirmed cases are soaring past the 100 million mark. But that hasn’t stopped the wealthiest people on the planet from increasing their wealth during the coronavirus pandemic, a report from Oxfam International indicates. While that in itself is shocking, more...
The global economy is projected to grow by 4% in 2021 if the COVID-19 vaccine rollout continues throughout the year and is effective, the World Bank said. In their annual January release of Global Economic Prospects, the Washington-based lender noted that the worst case scenario occasioned by delays to rollout...
Netflix has appointed Zimbabwean billionaire Strive Masiyiwa to its board, becoming the firm’s first African director as it eyes new markets for future growth. Masiyiwa is the founder and executive chairman of Econet Global, a telecommunications company that operates across Africa, Asia, Europe and Latin America. Econet offers phone...
The European Union has halted the payment of about 90 million euros in budget support to Ethiopia due to the bloc’s concerns over the crisis in the Tigray region. According to an internal EU document, the delay is meant to reinforce the EU’s request for a response from...
