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Although the outlook for the region has improved since October 2020, the -1.9 percent contraction in 2020 remains the worst performance on record. Sub-Saharan Africa will be the world’s slowest growing region in 2021, and risks falling further behind as the global economy rebounds. Our latestRegional Economic Outlook: Sub-Saharan Africa takes a close look at the issues. On current forecasts, per capita GDP in many countries is not expected to reach pre-crisis levels until the end of 2025. Lim...

Panels Seek Ways to Avoid Global Post-COVID Recovery That Leaves Some Behind, as Forum on Financing for Development Continues Format ECOSOC/7036 The Economic and Social Council continued its annual Forum on Financing for Development today, holding two interactive panel discussions, during which speakers proposed potential solutions to COVID-19’s devastating impact on infrastructure investment — lagging even before the novel coronavirus struck — and sought ways to avoid a global post-pande...

SUBSCRIBE to EIR Daily Alert Service World Bank, IMF Plot ‘Debt for Green’ Restructuring April 12 , 2021 (EIRNS)—A report issued by the World Bank and the International Monetary Fund on March 25 announced that, as part of the “recovery” from the pandemic, the debt of the world’s poorest countries would now be used as a lever to force furtherance of the Great Reset genocide dictate from the City of London. “This paper discusses World Bank and IMF support for addressing fiscal and d...

The G-20’s missed opportunity Apr 13,2021 - Last updated at Apr 13,2021 By Shamshad Akhtar, Ulrich Volz, Moritz Kraemer and Stephany Griffith-Jones   ISLAMABAD — This month, G-20 finance ministers agreed to a proposal to issue $650 billion worth of the International Monetary Fund’s (IMF) reserve asset, special drawing rights, and an additional six-month moratorium on debt payments for up to 73 developing countries. But while the agreement represents a step in the right direction, the G-2...

Policy paper Development Committee statement by First Secretary of State and Secretary of State for Foreign Commonwealth and Development Affairs, and Chancellor of the Exchequer Published 9 April 2021 © Crown copyright 2021 This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Arch...

UPDATE 1-IIF: Debt service relief extension wont impact private creditors Reuters 6 hrs ago LONDON, April 9 (Reuters) - Private sector creditors do not expect to be significantly affected by the latest extension of the G20 Debt Service Suspension Initiative (DSSI), the Institute of International Finance (IIF) said on Friday. In a letter sent to the G20 group of major governments during the Spring meetings of the International Monetary Fund and World Bank, the IIF said more coordination betwee...

Reforming Global Debt Architecture ‘Critical’, Secretary-General Says, Welcoming Steps by International Financial Institutions to Help Vulnerable Countries amid COVID-19 Format The following statement was issued today by the Spokesman for UN Secretary-General António Guterres: The Secretary-General welcomes the steps announced by the International Monetary and Finance Committee (IMFC) and the World Bank Group Development Committee to address debt crises and other damage arising from the Co...

UN chief applauds IMF, World Bank measures to address COVID-related debt crises ​ By IANS | ​ 4 Views   UN Secretary-General Antonio Guterres takes part in the high-level pledging conference for Yemen at the UN headquarters in New York, March 1, 2021. (Evan Schneider/UN Photo/Handout via Xinhua). Image Source: IANS News United Nations, April 10 : United Nations Secretary-General Antonio Guterres welcomed the steps announced by the International Monetary and Finance Committee (IMFC) and t...

Posted on April 10, 2021 UN calls for urgent action on debt, vaccines, around the world Finance ministers, central bank governors weigh new measures to curb surging inequalities Photo: Viacheslav Lopatin/Shutterstock.com   Washington —The United Nations called this week for expanded debt relief to all developing countries that request it and faster, more equitable COVID-19 vaccinations to tackle “unprecedented” fallout from the ongoing COVID-19 pandemic. “To avoid a development crisis,...

Abuja, April 8, 2021 The International Monetary Fund (IMF) has urged NIgeria and countries in Sub-Saharan Africa to do more domestically to increase tax revenues and improve the quality of spending. Ms Kristalina Georgieva, Managing Director of IMF, made this known in Washington D. C. on Wednesday at the IMF/World Bank Spring Meetings news conference. Georgieva also assured that the region would enjoy the fund’s support in improving governance, transparency and accountability to their citi...