Globe Banner News
Attorneys general urge Biden to secure release of ex-federal agent from Nigeria: 'It is miraculous that he has managed to survive'
By Globe Banner | Oct 23, 2024
A bipartisan group of 18 state attorneys general has called on President Joe Biden and Secretary of State Antony Blinken to secure the release of Binance employee Tigran Gambaryan from a Nigerian prison. The attorneys general shared their statement in an October 18 letter.
World Bank's van Trotsenburg outlines four pillars for tackling climate crisis
By Globe Banner | Oct 22, 2024
Axel van Trotsenburg, Senior Managing Director, addressed the V20 Ministerial Dialogue XIII, emphasizing four key elements crucial to tackling the climate crisis and fostering sustainable growth. He began by highlighting the importance of solid national policies as foundational for building climate ambition. "They can set a clear direction of travel to redirect subsidies to be more effective," he stated.
IMF reaches staff-level agreement on reviews of Rwanda's financial arrangements
By Globe Banner | Oct 22, 2024
From October 7 to October 20, 2024, an International Monetary Fund (IMF) team led by Ruben Atoyan engaged in discussions with Rwandan authorities regarding the nation's policy priorities and reform progress. These discussions took place within the framework of the fourth reviews of Rwanda’s Policy Coordination Instrument (PCI) and Resilience and Sustainability Facility (RSF), along with the second review of the Stand-by Credit Facility (SCF) arrangement. The IMF Executive Board is expected to consider these reviews in December 2024. Following this review, Rwanda may access...
African Caucus meeting discusses strategies for strengthening Africa's economic resilience
By Globe Banner | Oct 22, 2024
On October 22, 2024, Mr. Wale Edun, Nigeria’s Minister of Finance and Chair of the African Caucus, alongside Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), released a statement following the conclusion of an African Caucus meeting in Washington, DC.
WTO hosts regional trade policy course in Saudi Arabia
By Globe Banner | Oct 22, 2024
The World Trade Organization (WTO) is currently conducting a regional trade policy course in Saudi Arabia. This initiative involves experts from the WTO Secretariat, regional institutions, and King Saud University who will share insights on various topics such as tariff schedules, agriculture, trade remedies, services, intellectual property rights, e-commerce, and fisheries subsidies. The course aims to foster collaboration and knowledge-sharing among participants.
G-24 addresses global economic concerns amid geopolitical tensions
By Globe Banner | Oct 22, 2024
The Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G-24) recently convened in Washington, D.C., addressing several pressing global issues. The meeting, chaired by Ralph Recto from the Philippines, focused on humanitarian crises, economic stability, and multilateral cooperation.
Kuwait accepts fisheries subsidies agreement; joins other Arab nations in sustainable efforts
By Globe Banner | Oct 22, 2024
Kuwait has formally accepted the Agreement on Fisheries Subsidies, becoming the seventh Arab nation to do so. Director-General Okonjo-Iweala welcomed this move, stating that Kuwait's acceptance is a significant step towards sustainable marine fisheries and combating illegal fishing activities. She emphasized the importance of eliminating illegal, unreported, and unregulated (IUU) fishing to advance global food security.
World Bank launches global programs tackling major development issues
By Globe Banner | Oct 21, 2024
The World Bank Group has introduced a series of Global Challenge Programs (GCPs) designed to address significant development issues with increased efficiency and impact. These programs are a part of the Better Bank initiative, aiming to integrate public and private solutions to global challenges more effectively. The GCPs represent a strategic shift from minor adjustments to substantial innovation, targeting areas where the World Bank Group can make a notable difference.
World Bank highlights Panama's progress but stresses need for equity
By Globe Banner | Oct 21, 2024
Despite its status as a high-income country, Panama continues to grapple with significant inequality. The nation has made strides in reducing poverty and closing social gaps, yet challenges remain on the path to a more equitable society.
IMF board approves reforms reducing borrowing costs by $1.2 billion annually
By Globe Banner | Oct 21, 2024
The International Monetary Fund (IMF) Executive Board has concluded its review of charges and the surcharge policy, marking the first time these elements have been jointly assessed alongside commitment fees. This review is part of ongoing efforts to ensure that the IMF's lending policies are effective in supporting member countries amid global challenges.
Liechtenstein joins International Monetary Fund as its newest member
By Globe Banner | Oct 21, 2024
The Principality of Liechtenstein has officially joined the International Monetary Fund (IMF) as its 191st member. The membership was formalized when Prime Minister Daniel Risch signed the IMF's Articles of Agreement during a ceremony held in Washington, D.C., on October 21, 2024.
IMF reaches staff-level agreement with São Tomé for extended credit facility
By Globe Banner | Oct 21, 2024
The International Monetary Fund (IMF) has reached a staff-level agreement with São Tomé and Príncipe on an Extended Credit Facility (ECF) arrangement. This announcement follows discussions led by Slavi Slavov, the IMF Mission Chief for São Tomé and Príncipe, who visited the country from May 23 to June 5, 2024, and held subsequent virtual meetings.
Morocco-World Bank partnership strengthens one year after Marrakech Annual Meetings
By Globe Banner | Oct 21, 2024
One year after the Marrakech Annual Meetings, the collaboration between Morocco and the World Bank continues to grow. The meetings in Marrakech gathered global leaders and representatives from various sectors to discuss critical issues such as climate change, debt management, employment, and gender equality. During these discussions, the World Bank revealed its plan to work towards a world free of poverty on a livable planet.
IMF reaches agreement with Armenia on fourth review under Stand-By Arrangement
By Globe Banner | Oct 21, 2024
An International Monetary Fund (IMF) team, led by Iva Petrova, conducted discussions in Yerevan from September 18 to October 1, 2024, followed by virtual meetings regarding the fourth review under the Stand-By Arrangement (SBA) with Armenia. Ms. Petrova announced that a staff-level agreement has been reached with Armenian authorities on policies for completing this review.
Global North's role in addressing climate risk in developing nations
By Globe Banner | Oct 21, 2024
As the impacts of anthropogenic climate change continue to escalate, developing countries face heightened risks from extreme weather events.
Crecer Sano Project tackles malnutrition among Guatemala's indigenous communities
By Globe Banner | Oct 21, 2024
Guatemala faces significant challenges with chronic malnutrition, particularly in its indigenous communities. Nearly half of the country's children under five suffer from stunting, a condition exacerbated by poverty and limited access to healthcare. In response, the Crecer Sano Project was initiated in 2017 to address these issues, focusing on the first 1,000 days of life.
Yuanta's initiative brings joy to children with immersive tech experience
By Globe Banner | Oct 21, 2024
Yuanta Financial Holding Company and the Yuanta Cultural and Educational Foundation organized the "Yuanta Happiness Day" event on October 19, 2024.
Chainalysis report analyzes global trends in crypto adoption
By Globe Banner | Oct 18, 2024
Chainalysis, a prominent blockchain analytics firm, has released a report examining global cryptocurrency adoption trends. The report highlights the factors driving growth and the evolving regulatory landscape in key regions. Chainalysis published the report on October 17.
DDG Ellard stresses WTO's role amid geopolitical tensions
By Globe Banner | Oct 18, 2024
In a recent address, DDG Ellard emphasized the critical role of the World Trade Organization (WTO) in fostering global cooperation amid rising geopolitical tensions. She highlighted the WTO's unique platform that allows all its members, regardless of size or development status, to have an equal voice in shaping global trade rules.
Suriname joins World Bank's International Development Association as 175th member
By Globe Banner | Oct 18, 2024
Suriname has officially joined the World Bank Group's International Development Association (IDA), becoming its 175th member. This development marks a notable step in Suriname's ongoing efforts to enhance its economic and environmental resilience.