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The Latest Breaking News from Developing Countries

New India-born World Bank chief: Real change or rebranding?

The incoming president of the World Bank was born in India and had his early success in business there

The Independent UK

G20 finance heads face reform calls from Global South

Finance ministers and central bank governors are meeting at the IMF to discuss challenges facing global economy.

Al Jazeera

The US wants to elevate China to ‘developed country’ status; Beijing disagrees

The US House of Representatives has voted to strip China of its status as a developing country. China has condemned the move and refuses to join the ranks of developed or "wealthy" nations. At stake are critical economic and geopolitical issues for the world’s second-largest economy.

France 24

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Proactive ODA planned for developing countries

To make more strategic use of official development assistance (ODA), the government plans to emphasize a proactive approach of proposing aid to developing countries, rather than waiting for requests from these nations.

The Japan News/Yomiuri

What common traits do developing countries have with each other?

Developing countries are nations that are experiencing economic and social growth, but still have significant economic and social challenges to overcome. These countries are characterized by a range of factors, including low per capita income, limited access to basic services, high levels of poverty, and limited infrastructure.

inkl

The Loss and Damage Fund: How can Indonesia use it to boost climate adaptation efforts

Climate finance was at the centre of The United Nations Climate Change Conference (COP27) in Egypt last year. For many, the highlight was the agreement to establish a fund to assist developing countries in responding to loss and damage associated with the adverse effects of climate change.

The Conversation

Catching colorectal cancer in time

Colorectal cancer originates in the colon or rectum, the terminal end of the digestive tract. The secular trend of colorectal cancer has been increasing in developing countries globally, including Thailand. It is the third most common cancer worldwide. According to the World Health Organisation (WHO), there are about 1.9 million…

Bangkok Post

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US aims to counter China's influence in global institutions, Yellen says

The United States is working hard to counter China's influence in international institutions and in lending to developing countries, U.S. Treasury Secretary Janet Yellen said on Wednesday.

Reuters

China ramping up bailout loans to 'Belt and Road' countries

LONDON: China has handed out US$240 billion worth of bailout loans to 22 developing countries at risk of default over the past two decades, with the trend accelerating in recent years, a report said Tuesday.

Bangkok Post

China spent $240 billion bailing out 'Belt and Road' countries - study

China spent $240 billion bailing out 22 developing countries between 2008 and 2021, with the amount soaring in recent years as more have struggled to repay loans spent building "Belt and Road" infrastructure, a study published on Tuesday showed.

Reuters

Former Brazilian Leader Elected President of Multilateral Bank NDB

Dilma Rousseff will helm the Shanghai-headquartered New Development Bank, which was set up to finance projects in emerging markets and developing countries

Caixin Global

Egypt Launches Initiative to Ease Debts of Developing Countries

Egyptian Finance Minister Mohamed Maait called on Tuesday for easing the debts of developing countries by launching new consultations that “makes the debt crisis part of the solution”. Maait presented the “Sustainable Debt Coalition” to transform the debt burdens of developing countries into sustainable solutions for green recovery. The minister…

Asharq Al-Awsat

Fight over science holds up key UN climate report

Publication of a major new United Nations report on climate change is being held up by a battle between powerful rich and developing countries over emissions targets and financial aid to vulnerable nations

The Independent UK

UK private schools rush to expand overseas as profits soar

Forty schools took in record £29m in 2020-21 from satellites, including in developing countries

The Guardian - UK

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Asharq Al-Awsat

Guterres Calls on Developed Countries to Fulfill Promise, Support Developing Nations

UN Secretary-General Antonio Guterres has stressed the need to reform the global financial system and urged international financial institutions to devise ways to provide financing.

The Conversation

Russia's foreign minister got laughter, cheers and shrugs in India. Outrage over the war isn't universal

Russian Foreign Minister Sergei Lavrov made headlines over the weekend when his claim the Ukraine war was “launched against” Russia provoked laughter from the audience during a forum in India.

The Independent UK

Ajay Banga: Can former Mastercard chief push World Bank to prioritise climate action?

If selected, Banga will assume a crucial job at the 77-year-old institution that oversees the provision of billions of dollars of funding to developing countries

360info

Special Report: Governments in the red

Government debt in developing economies has reached a record high of USD$98 trillion. This is despite total global debt declining for the first time since 2015, driven directly by developed economies, according to a new report by the Institute of International Finance published on Wednesday.

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Reuters

Developing countries' debt troubles in focus at G20 talks, says Germany's Lindner

The outlook for the global economy and the situation of highly indebted countries will be the main topics of discussion at the Group of 20 (G20) meetings taking place this week in India, German Finance Minister Christian Lindner said on Monday.

Radio France Internationale

Donated clothes an environmental disaster in disguise for developing world

As much as one third of the clothing sent from the wealthy west to developing countries every year may be ending up as landfill. Unwearable polyester garments are little more than "plastic waste in disguise," according to a report on Kenya by the Changing Markets Foundation.

The Guardian - UK

It’s high time to rethink how the World Bank operates

Many believe there is little future in trying to tackle problems of the 2020s with institutions created in the 1940s

Al Jazeera

Year of war in Ukraine left developing nations picking up pieces

Some of the harshest economic effects of the war are being felt much farther afield than Russia’s theatre of battle.

The Conversation

The New International Economic Order stumbled once before. Will it succeed a second time around?

Calls for a new approach to the management of global affairs intensified after the curtain came down on this year’s World Economic Forum (WEF) annual meeting held at Davos, Switzerland.

Bangkok Post

Smarter climate finance needed

Recent estimates suggest that the developing world will need US$1 trillion of external climate finance annually by 2025, and $2.4 trillion per year by 2030, to meet the goals enshrined in the Paris climate agreement. But these targets will not be met unless international financial institutions and governments create stronger…

The Times of India

India: China should take losses in poor-nation debt rework

NEW DELHI: China must stop taking positions that block debt relief to some of the world’s poorest nations and be willing to take losses on its loans to them, India said in its capacity as the current Group of 20 leader.

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