Nabil Abdo News Today

As 143 countries pursue harsh cuts to social programs, experts say "austerity is the worst possible choice."

There is a terrifying prospect that in excess of a quarter of a billion more people will fall into extreme levels of poverty in 2022 alone. Without immediate radical action, we could be witnessing the most profound collapse of humanity into extreme poverty and suffering in memory. That is according to Oxfam International Executive Director Gabriela Bucher.

It has been revealed that a new analysis by Oxfam found that 13 out of the 15 IMF loan programmes negotiated during the second year of the pandemic

Summary Over the past three decades, Lebanon’s ruling class—which comprises intertwined political and business elites—has run the country into the ground. To survive its ongoing accumulation of challenges, including the financial crisis that erupted in October 2019, Lebanon requires a revamped state backed by a new economic model with social justice at its core. Tax reform is central to such an endeavor—and to ensuring that the state has the means both to deliver basic services and to t...