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Africa: World Bank to Create Catastrophe Toolkit in Response to Calls for Financial System Reform
Premium Times, 25 June 2023
The debt profiles, especially of countries in the global south, are rising, with many are now adjudged high-risk countries, keeping investors far from them Read more »
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Africa: World Leaders Call for Reforms in Global Financial System
Premium Times, 22 June 2023
"I do not think we can completely change our system but we can make it much better," Mr Macron said. Read more »
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Africa: New Financial Order Will Help the World Overcome Poverty, Climate Change
Capital FM, 22 June 2023
President William Ruto has said the financial architecture must be of equals. Read more »
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Africa: Explainer - What Developing Countries At Paris Summit Are Asking for
Premium Times, 23 June 2023
In February, United Nations (UN) Secretary-General António Guterres said "It is time for a new Bretton Woods moment." Read more »
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Africa: Climate Finance - Developed Countries Ready to Fulfil U.S.$100 Billion Pledge By Year End
Premium Times, 21 June 2023
The OECD in its most recent analysis (2022) put the figure mobilised by developed countries in 2020 at $83.3 billion for climate finance. Read more »
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AI London, 21 June 2023
World leaders attending a summit in Paris tomorrow must ensure that wealthier nations commit to comprehensive debt relief for lower-income nations, including the cancellation of… Read more »
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Africa: If Current Trends Continue, Low-Income Countries May Not Achieve a Single Development Goal By 2030
IPS, 21 June 2023
When the 193-member General Assembly adopted the 2030 Agenda for Sustainable Development back in September 2015., it was aimed at transforming the world into an idealistic state of… Read more »
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Africa: Financial System Must Evolve in 'Giant Leap Towards Global Justice' - Guterres
UN News, 22 June 2023
Developing countries are buckling under high debt and exorbitant borrowing costs, that prevent them from reviving their economies, UN chief António Guterres said on… Read more »
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Nigeria: Paris Summit - Tinubu, World Leaders Plan Onslaught Against Poverty, Debt
Leadership, 23 June 2023
President Bola Ahmed Tinubu yesterday in Paris, France, joined world leaders in reaching a consensus to redesign the global financial architecture in a way that will favour poverty… Read more »
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Africa: Beyond the UN Security Council - Can the General Assembly Tackle the Climate-Security Challenge?
IPS, 22 June 2023
The wildfires raging in Canada are yet another reminder that climate change is already having an impact on all our lives. As the smoke clears around the United Nations building in… Read more »
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Rwanda: Rwanda to Take Part in Paris Summit on Global Green Financing
New Times, 21 June 2023
Prime Minister Edouard Ngirente will lead Rwanda's delegation that will take part in a Summit for a New Global Financing Pact in Paris, France, from Thursday, June 22 to Friday,… Read more »
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South Africa: President Attends New Global Financing Pact Summit in Paris, 22 to 23 June
Govt of SA, 21 June 2023
President Ramaphosa to attend and participate in the New Global Financing Pact Summit in Paris from 22-23 June 2023 Read more »
Climate Finance Summit In Paris Makes Progress on Debt Relief
A global summit seeking to overhaul the international financial system wrapped up after taking some small steps towards easing the debt burden of developing nations weighed down by climate and economic crises, reports The Guardian.
The summit which was held in Paris, was attended by representatives from over 100 countries. The participants discussed a number of proposals for reforming the global financial system, including debt relief for developing nations, increased investment in climate-friendly infrastructure, and a new framework for regulating financial markets. While the summit did not produce any major breakthroughs, it did make some progress on the issue of debt relief. The participants agreed to establish a new debt sustainability framework, which will be used to assess the debt levels of developing countries and determine whether they need debt relief.
The summit also agreed to launch a new initiative to provide technical assistance to developing countries on debt management.
The progress made at the summit is a positive step, but more needs to be done to address the debt crisis facing developing nations. The participants at the summit agreed to continue their discussions on these issues, and they have pledged to meet again in the near future.
InFocus
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After years of failing to meet climate finance commitments, the new climate finance goal under discussion in Bonn, Germany is critical, but without supporting reforms of the global ... Read more »
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The UN adopted a marine biodiversity agreement for the high seas, providing protection from pollution and unsustainable fishing. It aims to clean up Read more »
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As the United Nations Framework Convention on Climate Change prepares for its annual Conference of Parties (COP) in Dubai, United Arab Emirates in November 2023, many African ... Read more »
French President Emmanuel Macron addresses the Summit for a New Global Financial Pact in Paris, France in June 2023.
