The World Bank warned in a new report that poor countries will be stuck in economic “purgatory” without debt relief.
Category: Developing Countries
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A Loss and Damage Fund Is Taking Shape at COP Climate Talks
The U.N. climate summit in Azerbaijan has cleared the for way aid to flow when lower-income countries are hit.
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Yellen Rebukes Chinese Lending Practices in Call for Debt Relief
In an interview, the Treasury secretary also highlighted progress at the World Bank and the International Monetary Fund ahead of annual meetings this week.
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Fears of a Global Oil Shock if the Mideast Crisis Intensifies
The threat of an escalating conflict between Israel and Iran has created an “extraordinarily precarious” global situation, sowing alarm about the potential economic fallout.
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Gilead Agrees to Allow Generic Version of Groundbreaking H.I.V. Shot in Poor Countries
Many middle-income countries are left out of the deal, widening a gulf in access to critical medicines.
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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.
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The Global Threat of Antibiotic Resistance
International health experts have begun to shift their focus to try to provide access to basic drugs in countries where preventable deaths from infections occur too frequently.
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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.
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Malaria Vaccine Rollout to Africa Is a Cautionary Tale
After years of delay, millions of malaria vaccines are being supplied to children in Africa. Tens of thousands died waiting.
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Gilead Shot Provides Total Protection From HIV in Trial of Young African Women
An injection given just twice a year could herald a breakthrough in protecting the population that has the highest infection rates.
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$29 Trillion: That’s How Much Debt Emerging Nations Are Facing
A decades-long crisis is getting worse, and now dozens of nations are spending more on interest payments than on health care or education.
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World Bank Sees Rosier Growth Outlook
But rising trade barriers pose a long-term threat to global output as protectionist policies spread, the bank said.