G20 finance ministers agreed to extend debt payment relief for the 73 poorest countries and, in principle, to have a common framework to cancel debts. The G20 Finance Ministers and Central Bank Governors met on global COVID-19 response plans ahead of the Annual IMF and World Bank Meetings. read full story / add a comment

Analyzing the economic crisis spurred by the coronavirus, the International Monetary Fund released the Global Financial Stability Report and the 2020 World Economic Outlook Report, "A Long and Difficult Ascent." The economic outlook report projects global economic growth to contract 4.4%. read full story / add a comment

Given the expectation that the public must accept what restrictions the State imposes, the basis of these decisions are not the exclusive preserve of experts and advisers or even of elected officials. None of these officials was elected with the prospect of severe restriction of personal liberty in view. Yet this power has been arrogated by these officials on the basis of advice of a dire public health emergency, the predictions of which proved wholly exaggerated. It is insufficient at this stage to claim “emergency.” The emergency has passed. The harm has proved far less than advertised. Deaths are few. Yet “recommendations” are still being promulgated, and severe restrictions are again being proposed. read full story / add a comment

IMF head Kristalina Georgieva warned that developing countries could face a second wave of economic crises just as they are recovering from the coronavirus pandemic. "... There is a need to reform the international debt 'architecture' ... to provide speedy and sufficiently deep debt relief to countries that need it, benefitting not only these countries but the system as a whole," wrote Georgieva and other top IMF officials in a Fund blog published Thursday. read full story / add a comment

Call on Minister to control private companies as Bord Na Mona quits peat bedding sector

Action comes two years after environmental complaint

Two years after calling on the Minister for Agriculture, Michael Creed, to exercise his powers under the legislation to stop Teagasc, the Farm Advisory Service, and Bord na Mona from promoting the use of deep peat for bedding in animal housing, Bord na Mona has announced that it is exiting the peat bedding market.

The extent of the practice came to light on field trips conducted by Friends of the Irish Environment in the summer of 2018. It coincided with Bord na Mona and Teagasc beginning to market peat as an alternative to straw after the poor harvests led to shortages of straw. The company entered the market in 2017, having reportedly appointed a team to manage sales and grow the market in the wake of reduced use of peat for power generation.

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Presidents, prime ministers and world leaders focused on solutions for the global economic crisis spurred by the coronavirus at a virtual United Nations meeting. read full story / add a comment

The G7 supports a process for debt cancellation for vulnerable countries, they announced this morning after Treasury convened a special Finance Ministers meeting. read full story / add a comment

A high-level United Nations panel report says global policies are needed to prevent trillions of dollars escaping developing countries through tax abuse and corruption. The UN group includes former heads of state, past central bank governors, business leaders and prominent academics. read full story / add a comment

Mothers in Ireland are not being provided with the relevant information and support they need during and after childbirth and demand more control in the process, according to new survey data. read full story / add a comment

The Federal Emergency Management Administration will award $13 billion in Puerto Rico disaster aid to rebuild the power grid and education facilities, announced the White House. The announcement comes near the three-year anniversary of Hurricane Maria slamming the island, taking 3000 lives and causing more than $100 billion in damage. read full story / add a comment

EU Court scuttles planned fracked gas terminal permission

‘Far reaching’ EU Court ruling on Shannon LNG terminal welcomed

The European Court of Justice has advised the Irish High Court that the 2018 extension by An Bord Pleanála to the 2008 planning permission for the construction of a proposed €500m fracked gas terminal on the south bank of the River Shannon estuary must be considered as a new permit for the purposes of the Habitats Directive and must be subject to a new Assessment under the Habitats Directive.

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European Court to rule on Shannon LNG Planning Permission
Court Advised to quash An Bord Pleanala’s consent for Shannon fracked gas terminal

An Bord Pleanála’s extension to the 2008 grant of planning permission for a €500m liquified natural gas terminal on the Shannon Estuary will be the subject of a Reference from the European Court of Justice on Wednesday.

A Preliminary Reference to the European Court was made by Irish High Court Justice Garret Simons on 1 February 2019 after a Judicial Review was brought by Friends of the Irish Environment [FIE].

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IMF Announces Access to Global "SDRs" Reserve read full story / add a comment

Bertie Ahern’s desire ‘to have the power of the Mayor of Shanghai’ is cited in an objection to the proposed fee for objection to forestry applications and appeals in a submission to the Draft Agriculture Appeals (Amendment) Bill 2020. The draft legislation follows on from the 2019 McKenna Report which states that the opportunities that people have to comment and object to forestry proposals represents ‘a barrier to efficient decision-making’ and has ‘created further delays with significant administrative costs’ so the case for a fee is ‘unarguable’. read full story / add a comment

On August 27 and 28, the US Federal Reserve and other government central banks meet for their annual retreat. read full story / add a comment

Over the weekend, Tropical Storm Laura pummeled Haiti and the Dominican Republic leaving at least 13 dead, infrastructure decimated and towns isolated by landslides. read full story / add a comment

World Bank President David Malpass called for debt cancellation for poor countries struggling with the coronavirus, in an interview he gave to The Guardian. read full story / add a comment

Treasury Secretary Steven Mnuchin convened G7 Finance Ministers, the International Monetary Fund and the World Bank to coordinate responses to the COVID-19 pandemic. In April, the G7 supported the G20 to implement a plan to suspend debt payments for the 73 poorest countries in the world through 2020. read full story / add a comment

Student debt relief is now included in round the clock stimulus package negotiations on Capitol Hill. On Thursday, President Trump indicated that student debt relief measures passed in the Spring could be extended in the final Congressional package. read full story / add a comment

UN Press Release, 27 JULY 2020 – An additional 6.7 million children under the age of five could suffer from wasting – and therefore become dangerously undernourished – in 2020 as a result of the socio-economic impact of the COVID-19 pandemic, UNICEF warned today.

According to an analysis published in The Lancet, 80 per cent of these children would be from sub-Saharan Africa and South Asia. Over half would be from South Asia alone.

“It’s been seven months since the first COVID-19 cases were reported and it is increasingly clear that the repercussions of the pandemic are causing more harm to children than the disease itself,” said UNICEF Executive Director Henrietta Fore. “Household poverty and food insecurity rates have increased. Essential nutrition services and supply chains have been disrupted. Food prices have soared. As a result, the quality of children’s diets has gone down and malnutrition rates will go up.” read full story / add a comment