Rich countries have a “moral debt” annually of US$ 500,000 million with impoverished countries, says French Nobel Prize winner Esther Duflo, who proposes that rich countries assume their responsibility for climate change through two rates. “It’s what I call a moral debt. It’s not what it would cost to adapt, it’s not what it would […]
Tag: Poor countries
IMF estimates that the world economy is “better than expected”, except in poor countries
The managing director of International Monetary Fund (IMF), Kristalina Georgieva, affirmed this Wednesday that the world economy has resisted crises better than expected, but warned that low-income countries have done worse than expected. “The world economy is better today than we feared a year ago, growth is being maintained, inflation is falling and the expectation […]
World Bank lays the “first stone” of its reform to increase lending capacity
He world Bank Laid the cornerstone of a reform Wednesday that should increase its ability to lend to poor and developing countries to help them tackle climate change as the institution prepares to change its president in the coming weeks. “Our member countries approved measures that could add up to US$50 billion to the lending […]
Country indebtedness rises again, warns the IMF
After two years of decline, state debts should increase worldwide to return to pre-pandemic levels by 2028 if nothing is done about it, the IMF warned on Wednesday. This is at least the conclusion of the report on budgetary policies, the Fiscal Monitor, released by the International Monetary Fund (IMF). “We have seen a marked […]
Global economic situation aggravates development crisis in poor countries
The global economic situation is aggravating the development crisis in poor countries, which suffer the “crushing effects” from rising debt, rising interest rates, rising food prices and insufficient liquidity, the UN economic analysis body said today. The United Nations Agency for Trade and Development (UNCTAD) said today that it has further lowered its growth forecast […]
Economic development, an illusion for poor countries
Then many things happened. From Buenos Aires to Mexico City, governments have given a 180-degree turn to half a century of statist and introspective economic policy. They cut budgets, sold public companies, and opened up to trade and foreign capital. Mexico tied its economy to the United States through NAFTA. Brazil and Argentina said “yes” […]
Poorest countries need US$ 436,000 million for consequences of the COVID
Of that amount, $170 billion is to address the effects of the pandemic, such as learning loss and worsening poverty, and bolster reserves. The rest is needed to help low-income countries reach the median ratio of spending to gross domestic product in emerging markets by 2026, according to a report released Thursday by the Washington-based […]
World Bank Report Shows “Massive Gaps” in Poor Countries’ Debt Tracking Systems
Updated on 11/10/2021 11:57 am Existing systems for monitoring the sovereign debts of the poorest countries are inadequate and mask hidden debts, so they likely owe much more than currently estimated record levels, said World Bank (WB) chief economist Carmen Reinhart. . The multilateral development bank released the first comprehensive assessment of global and national […]