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The Latest Breaking News from Developing Countries

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

The Independent UK

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.

360info

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.

Reuters

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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.

Radio France Internationale

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

The Guardian - UK

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.

Al Jazeera

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.

The Conversation

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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…

Bangkok Post

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.

The Times of India

Corruption endangers world's shrinking fisheries

Corruption is undermining the management of some of the world’s most threatened fishing grounds

The Independent UK

Yellen wants bolder World Bank steps on climate change, global issues

U.S. Treasury Secretary Janet Yellen urged the World Bank to map out "bolder and more imaginative" steps on Thursday to address global challenges such as climate change even as it continues to aid individual developing countries.

Reuters

Kuwait plans reform to aid through economic development fund

Kuwait intends to reconsider its policy of providing aid to Arab and developing countries through the Kuwait Fund for Arab Economic Development, its foreign minister said on Thursday.

Reuters

Japan to start exporting blood products to developing nations

Japan will start exporting human blood products for the first time in 57 years to support healthcare services in developing countries, it has been learned.

The Japan News/Yomiuri

Emissions divide now greater within countries than between them – study

Report finds ‘relatively small group’ of rich people contribute disproportionately to emissions

The Guardian - UK

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Bangkok Post

China and the sovereign-debt time bomb

International capital flows have long been a major source of economic growth. Savings in higher-income countries have financed high-yielding investments in low-income countries, generating benefits for all. After World War II, capital flows under the Marshall Plan drove the rapid reconstruction of Europe, and after those countries recovered, they extended…

The Conversation

Installing solar-powered refrigerators in developing countries is an effective way to reduce hunger and slow climate change

Food loss and waste are major problems around the world. When food is tossed aside or allowed to spoil, it makes economies less productive and leaves people hungry.

Newsroom.co.nz

Pacific group urges NZ to support stricter shipping decarbonisation plans

A pledge that developing countries won’t wear the costs of ships going green will this year go before the International Maritime Organization.

Bangkok Post

Thai diplomacy extends to Global South

At last week's virtual summit organised by Indian Prime Minister Narendra Modi to gather input from members of the Global South, Thailand diligently reached out to the world's developing and less developing countries with a holistic approach focusing on human security and balanced development.

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The Independent UK

India takes up economic woes of poor nations in virtual meet

India has convened a virtual summit of developing countries to evolve a strategy for a redress of their economic woes from the developed world

Bangkok Post

Sleepwalking into another trade war

The world is embroiled in a mega-crisis comprising the Covid-19 pandemic, Russia's war in Ukraine, high inflation, recession fears and rising debt distress across emerging markets and developing countries. The last thing we need is an additional source of economic harm. But that's what we may get, in the form…

The Independent UK

India to host virtual summit of over 120 developing nations

A top foreign ministry official says India will host a virtual summit of over 120 developing countries next week to share their economic woes

Reuters

India to host virtual summit of about 120 developing countries in January

India will host a virtual summit of around 120 developing countries next week, its foreign minister said on Friday, as the country looks to bolster international cooperation during its presidency of the Group of 20 (G20) biggest economies.

Bangkok Post

Time to make the most of deglobalisation

After four decades of fostering integration through trade and finance, the global economy has begun a painful process of fragmentation. Initially driven by wealthy countries -- namely, the US under former President Donald Trump and the UK following the Brexit referendum -- several geopolitical forces have combined to accelerate the…

Radio France Internationale

Why the Congo plays a critical role in saving the world's biodiversity

A landmark biodiversity deal cliched at the Cop15 summit offers a mixed bag for nature-rich developing countries – namely the Democratic Republic of Congo – which now supports the text despite earlier protests over funding for conservation efforts.

France 24

Some NGOs warn COP15 biodiversity agreement will 'devastate indigenous lives'

As many hail the COP15 biodiversity summit's deal to protect nature, DR Congo argues that it does not go far enough in supporting conservation efforts in developing countries. We also speak to one Senegalese doctor who is concerned about the agreement's limited protection for indigenous rights.

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