New Events

International

no events posted in last week

Blog Feeds

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link RTEs Sarah McInerney ? Fianna Fail supporter? Anthony

offsite link Joe Duffy is dishonest and untrustworthy Anthony

offsite link Robert Watt complaint: Time for decision by SIPO Anthony

offsite link RTE in breach of its own editorial principles Anthony

offsite link Waiting for SIPO Anthony

Public Inquiry >>

Human Rights in Ireland
A Blog About Human Rights

offsite link UN human rights chief calls for priority action ahead of climate summit Sat Oct 30, 2021 17:18 | Human Rights

offsite link 5 Year Anniversary Of Kem Ley?s Death Sun Jul 11, 2021 12:34 | Human Rights

offsite link Poor Living Conditions for Migrants in Southern Italy Mon Jan 18, 2021 10:14 | Human Rights

offsite link Right to Water Mon Aug 03, 2020 19:13 | Human Rights

offsite link Human Rights Fri Mar 20, 2020 16:33 | Human Rights

Human Rights in Ireland >>

Lockdown Skeptics

The Daily Sceptic

offsite link Women?s Team with Five Male Players Wins Football Competition After One Male Player ?Broke Opponent?... Thu Mar 28, 2024 19:30 | Will Jones
A women?s football competition has been branded misogynist after it was won by a team featuring five transgender players, amid accusations one had broken an opponent?s leg in two places.
The post Women’s Team with Five Male Players Wins Football Competition After One Male Player “Broke Opponent’s Leg” ? But Teams Who Refuse to Play Against Them Are Branded “Discriminatory” appeared first on The Daily Sceptic.

offsite link Further Evidence Gaza Casualty Numbers Are Fake Thu Mar 28, 2024 17:36 | Will Jones
The evidence that the Gaza casualty numbers from the Hamas-run Health Ministry (now over 32,000) are wildly inflated continues to mount. Mark Zlochin looks at what the proportions of male and female UNRWA workers tell us.
The post Further Evidence Gaza Casualty Numbers Are Fake appeared first on The Daily Sceptic.

offsite link Don?t Be Fooled by the ?Britain is Growing? Fairytales Thu Mar 28, 2024 15:22 | David Craig
Don't be fooled by the 'Britain is growing' fairytales, says David Craig. Any 'growth' is accounted for by the hike in the benefits bill and in civil servants' pay and a heap of other unproductive deficit spending.
The post Don’t Be Fooled by the ‘Britain is Growing’ Fairytales appeared first on The Daily Sceptic.

offsite link Climate: The Movie is a Perfect Cure for Climate Anxiety Thu Mar 28, 2024 13:00 | Toby Young
Climate Change: The Movie, the new film by Martin Durkin, should be shown at every school in the country to disabuse anxious young people of the idea that we're in the midst of a 'climate emergency'.
The post Climate: The Movie is a Perfect Cure for Climate Anxiety appeared first on The Daily Sceptic.

offsite link The WHO?s Plot to Seize Power Over Nation States in Future Pandemics Must Be Stopped Thu Mar 28, 2024 11:12 | Will Jones
The World Health Organisation is gearing up to persuade the world's governments to sign a new pandemic treaty that would allow the unelected body to seize power over nation states in future pandemics, warns Matt Ridley.
The post The WHO’s Plot to Seize Power Over Nation States in Future Pandemics Must Be Stopped appeared first on The Daily Sceptic.

Lockdown Skeptics >>

Voltaire Network
Voltaire, international edition

offsite link Moscow attack reminds us of the links between Islamists and Kiev's fundamentalis... Tue Mar 26, 2024 06:57 | en

offsite link Failure to assist a people in danger of genocide, by Hassan Hamadé Tue Mar 26, 2024 06:32 | en

offsite link Yugoslavia March 24, 1999 The Founding War of the New Nato, by Manlio Dinucci Sun Mar 24, 2024 05:15 | en

offsite link France opposes Russian Korean-style peace project in Ukraine Sat Mar 23, 2024 11:11 | en

offsite link Voltaire, International Newsletter N°79 Fri Mar 22, 2024 11:40 | en

Voltaire Network >>

IMF: Indebted Countries Suffer if US Interest Rates Rise

category international | economics and finance | press release author Tuesday April 06, 2021 17:49author by Zachary Conti - Jubilee USA Report this post to the editors

The IMF warns that rising US interest rates could impact the ability of developing countries to pay debt, leading to prolonged economic crisis. The warning comes ahead of IMF, G20 and World Bank meetings, with the Fund's release of the Global Financial Stability Report.

The IMF warns that rising US interest rates could impact the ability of developing countries to pay debt, leading to prolonged economic crisis. The warning comes ahead of IMF, G20 and World Bank meetings, with the Fund's release of the Global Financial Stability Report.

“Except for Zambia, all countries that defaulted over the last year were middle-income countries,” said Eric LeCompte, the Executive Director of the religious development organization Jubilee USA Network. “Unfortunately, developing middle-income countries are not included in IMF and G20 debt relief solutions."

The report warns that recovery from the pandemic will be unequal between rich and poor countries and that more needs to be done to strengthen long-term stability around the globe. This morning the IMF released the World Economic Outlook Report estimating that 95 million more people fell into extreme poverty over the last year, living on less than $1.90 a day.

"Wealthy countries invested in big stimulus packages and can rebound more quickly," said LeCompte. "Billions of people in developing countries are left behind and their lives will be even worse after the pandemic."

Read the IMF's Global Financial Stability report here: https://www.imf.org/en/Publications/GFSR/Issues/2021/04/06/global-financial-stability-report-april-2021#FullReport

Read Jubilee USA's release on the IMF's World Economic Outlook report here: https://www.jubileeusa.org/pr_imf_weo_spring_2021

Read about the IMF extending a process to cancel debt payments for the world's 28 poorest countries here: https://www.jubileeusa.org/pr_imf_ccrt_fall_2021

Read about the IMF announcing support for $650 billion in emergency reserves here: https://www.jubileeusa.org/pr_imf_650_bn_sdr

Related Link: https://www.jubileeusa.org/pr_imf_gfsr_apr_2021
author by Zachary Conti - Jubilee USApublication date Wed Apr 07, 2021 16:01author address author phone Report this post to the editors

Ahead of Spring IMF and World Bank Meetings, World's Largest Unions, Human Rights Groups, Environmental and Religious Institutions Call for Aid, Debt Relief, Access to Emergency Reserves and Climate Protections
As G20, IMF and World Bank Spring Meetings convene virtually on global COVID response, 260 groups call for developing country aid and policies to prevent future crises and protect the environment.
Organized by Jubilee USA Network, 260 religious groups, anti-poverty organizations, labor unions, environmental and human rights institutions signed a letter on coronavirus crisis response to the White House, G20 and IMF.

“World leaders worked hard over the last year to tackle the health and economic crises spurred by the COVID pandemic," said Eric LeCompte, a UN finance expert who heads the religious development group Jubilee USA Network. Jubilee USA spearheaded the letter effort. “We must do more. Unless we take immediate action to solidify more aid and relief, we face lost decades of development and millions more will suffer.”

The G20 agreed to suspend debt payments for 73 developing countries through next June and created a process for the same countries to reduce debt. The IMF announced it would cancel debt payments for 28 of the world's poorest countries into October.

In recent weeks, the G7 supported an allocation of emergency reserve funds or Special Drawing Rights (SDRs). Treasury notified Congress of support for the aid and the G20 is expected to announce support for SDRs this week.

“If the IMF and G20 move forward emergency reserves, it means right away developing countries can access more than $200 billion to fight the health and economic impacts of the coronavirus," stated LeCompte. "We will likely see another additional process where hundreds of billions of more dollars in Special Drawing Rights could be transferred from wealthy countries to developing countries for further support."

Major religious institutions lead the Jubilee USA letter to the IMF, White House and G20. The signers include: The Union for Reform Judaism, All Africa Conference of Churches, National Council of Churches and the Episcopal, Evangelical Lutheran, Presbyterian, Methodist and United Church of Christ Churches. The Unitarian Universalist Association and the largest representations of Quaker communities and Buddhist consortiums are on the letter. The US Conference of Catholic Bishops sent a separate, companion joint letter with Jubilee USA Network and Pope Francis called again for a debt relief process in his Encyclical Fratelli Tutti.

Counting their membership in the millions, labor bodies including the International Trade Union Confederation, United Steelworkers (USW), American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) and American Federation of State, County and Municipal Employees (AFSCME) joined faith groups on letter. Other signers include human rights organizations like Amnesty International and Pax Christi and also environmental advocates ranging from Amazon Watch to Friends of the Earth. Development groups were represented and included Islamic Relief, American Jewish World Service, American Friends Service Committee, Bread for the World, Action Aid, Oxfam, RESULTS and Health Gap.

On March 16th, Jubilee USA organized a roundtable with Treasury Secretary Janet Yellen and the highest-ranking leaders to specifically go over the calls in the Jubilee letter. A separate letter with 240 groups supporting SDRs was sent to the G20. The additional G20 SDR letter was coordinated by Jubilee USA and LATINDADD.

Read Jubilee USA's COVID-19 White House, IMF, G20 Letter here.

Read the joint US Conference of Catholic Bishops/Jubilee USA Network Letter to President Biden here.

Read about Jubilee USA's High-Level Roundtable with Secretary Yellen here.

Read Jubilee USA's release on the IMF's Global Financial Stability report here.

Read Jubilee USA's release on the IMF's World Economic Outlook report here.

Read about the IMF extending a process to cancel debt payments for the world's 28 poorest countries here.

Read about the IMF announcing support for $650 billion in emergency reserves here.

Read the letter from 240 groups to the IMF and G20 here.

Related Link: https://www.jubileeusa.org/pr_covid_jubilee_wh_imf_g20_letter_april_2021
 
© 2001-2024 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy