Explore

World Bank Group Appoints Judith Green as Country Manager for Barbados and Eastern Caribbean

World Bank Group Appoints Judith Green as Country Manager for Barbados and Eastern Caribbean

The World Bank Group has announced the appointment of Jamaican national Judith Green as the new Country Manager for Barbados and the Eastern Caribbean States. Effective September 1, this year, Green will be based in Barbados and will represent the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA). In her new role, Green will collaborate with governments and the private sector to promote job creation and sustainable development across the sub-region. She brings extensive experience from her previous roles as World Bank Group Country Manager for Malaysia and IFC Country Manager for Papua New Guinea, the Pacific Islands, Australia, and New Zealand, where she focused on mobilizing private sector investment and managing advisory services programs.

Financial Institutions Issue Joint Statement to Strengthen Global Fertilizer Supply Chains

Financial Institutions Issue Joint Statement to Strengthen Global Fertilizer Supply Chains

Multilateral Development Banks (MDBs) and International Financial Institutions (IFIs) have released a joint statement committing to strengthen global fertilizer supply chains. This initiative is a direct response to repeated shocks that have exposed structural vulnerabilities, disproportionately affecting smallholder farmers and low-income households. The statement builds upon the 2022 IFI Action Plan to Address Food Insecurity and aligns with recent G20 discussions and the proposed G7+ Action Plan on Fertilizer Shocks and Food Systems Resilience. The MDBs and IFIs aim to support countries in enhancing fertilizer supply chain resilience through increased financing for production, processing, storage, and transportation infrastructure. They also plan to improve market monitoring, ensure timely access to fertilizers, and promote efficient fertilizer use through soil diagnostics, precision nutrient management, and digital agriculture. The ultimate goal is to strengthen food systems by investing in resilient v...

IMF's Georgieva says rising bond yields threaten progress on developing country debt

IMF's Georgieva says rising bond yields threaten progress on developing country debt

By David Lawder ASHEVILLE, North Carolina, Sept 2 (Reuters) - Ballooning debt and rising bond yields in advanced economies are threatening to undo developing and low-income countries' progress in reining in their own debts, International Monetary Fund Managing Director Kristalina Georgieva told

Treasury Secretary Bessent Reports G20 Consensus on 'Cheap Exports' Except for China, Discusses AI and Trade with President Trump

Treasury Secretary Bessent Reports G20 Consensus on 'Cheap Exports' Except for China, Discusses AI and Trade with President Trump

Treasury Secretary Scott Bessent announced that 19 out of 20 G20 members agreed on the unsustainability of 'cheap exports' causing global economic imbalances, with China being the sole dissenter. Bessent made these remarks following a two-day meeting with finance ministers and central bankers, where he advocated for policies similar to the Trump administration's use of tariffs to address trade imbalances. He stated that non-market-based economies pushing out cheap exports are not sustainable and directly attributed China's large and unsustainable current account surplus as the reason for its dissent. Bessent also indicated that President Trump and Chinese President Xi Jinping would discuss artificial intelligence policy, emphasizing the need for more guardrails to prevent 'non-state actors' from developing their own AI models. He criticized AI companies for failing to adequately explain themselves to the American public, suggesting they must convince the public that benefits will not be limited to a small ...

U.S. Peace Corps and Ghana Celebrate 65 Years of Partnership in Development Initiatives

U.S. Peace Corps and Ghana Celebrate 65 Years of Partnership in Development Initiatives

The U.S. Peace Corps and Ghana's Ministry of Health have commemorated 65 years of partnership, marking a significant milestone in their collaborative efforts since 1961. Ghana was the first country to host Peace Corps volunteers, an initiative launched by then-U.S. President John F. Kennedy and Ghana’s first president, Kwame Nkrumah. Over the decades, nearly 5,000 Peace Corps volunteers have served in Ghana, contributing to various projects across all 16 regions. Currently, 52 volunteers are actively engaged in programs focused on agriculture, education, and health care. Since 2022, these volunteers have successfully completed 102 projects related to water supply, sanitation, and hygiene. Additionally, they have played a crucial role in building or upgrading more than 20 health facilities, including clinics, CHPS compounds, and maternity wards. The partnership has also been instrumental in public health campaigns, notably Ghana's fight against Guinea worm disease, which led to the country being certified d...

U.S. Treasury Department Blocks Journalists from G20 Meeting in North Carolina

U.S. Treasury Department Blocks Journalists from G20 Meeting in North Carolina

The U.S. Treasury Department denied credentials to several journalists from major news organizations, including The New York Times, The Wall Street Journal, and Bloomberg News, preventing them from covering a G20 finance ministers' meeting in Asheville, North Carolina. This decision marks another instance of President Trump's administration restricting media access. Treasury Secretary Scott Bessent stated that the decision was not related to the journalists' viewpoints. Alan Rappeport of The New York Times, who has covered such meetings since 2017, was among those denied access, although another Times reporter was permitted to attend. The New York Times condemned the action as a disturbing effort to undermine independent journalism and evade public scrutiny, especially given the critical topics on the G20 agenda, such as the war in Iran, sanctions, bond markets, and inflation. Bloomberg News also reported that numerous journalists, including those based in Europe and Asia, had their accreditation requests ...

Ethiopia Establishes First Mortgage Refinance Company with IFC Backing

Ethiopia Establishes First Mortgage Refinance Company with IFC Backing

Ethiopia Establishes First Mortgage Refinance Company with IFC Backing

Bessent says 19 finance ministers agreed 'cheap exports' are unsustainable, but China dissented

Bessent says 19 finance ministers agreed 'cheap exports' are unsustainable, but China dissented

Treasury Secretary Scott Bessent says 19 of the members of the G20 agreed to address streams of “cheap exports” that cause global economic imbalances, but China dissented

Global Counterterrorism Efforts Hampered by Geopolitical Friction and Strategic Divisions

Global Counterterrorism Efforts Hampered by Geopolitical Friction and Strategic Divisions

Global counterterrorism efforts are facing significant challenges due to geopolitical friction and structural gridlock among major powers. Despite numerous high-level multilateral forums, such as those organized by the United Nations General Assembly and the G20, summit-level commitments often fail to translate into tangible outcomes on the ground. This disconnect arises because multilateral counter-terrorism mechanisms frequently break down due to deep strategic divisions, with permanent members of bodies like the United Nations Security Council using veto power or procedural holds to protect strategic proxies and allies from international sanctions. The international community also lacks a universally accepted legal definition of terrorism, further complicating unified action. This paradox, where one state's security threat is another's strategic asset, prevents the establishment of uniform legal standards and shared enforcement protocols, even impacting financial accountability frameworks like the Finan...

US urges G20 countries to allow AI training on creators' work

US urges G20 countries to allow AI training on creators' work

By Courtney Rozen and JC Whittington CHAPEL HILL, North Carolina, Sept 2 (Reuters) - The U.S. urged G20 countries on Wednesday to develop rules governing how AI companies use copyrighted material to train their systems, as major American technology firms face mounting lawsuits over the practice.

US urges G20 to cut trade imbalances, focus on China

US urges G20 to cut trade imbalances, focus on China

By Philip Blenkinsop and David Lawder ASHEVILLE, North Carolina, Sept 1 (Reuters) - The Trump administration urged other G20 countries on Tuesday to do more to protect their domestic industries and job markets from Chinese imports, arguing such distortions were "sucking" much-needed growth out of

China Dissents as G20 Finance Ministers Agree to Address 'Cheap Exports'

China Dissents as G20 Finance Ministers Agree to Address 'Cheap Exports'

Treasury Secretary Scott Bessent announced that 19 of the G20 member countries have agreed to address the issue of 'cheap exports' that contribute to global economic imbalances. This consensus was reached during a two-day meeting of G20 finance ministers in Asheville, N.C., though China dissented from the agreement. Bessent emphasized the significance of 19 nations acknowledging the problem, highlighting its 'enormity.' He noted that China is a primary source of these exports, which the Trump administration and many economists blame for trade imbalances, including China's large trade surplus and the U.S.'s substantial deficit. Bessent also previewed an upcoming meeting between President Trump and China's President Xi Jinping, where AI policy will be a discussion point. He reiterated his past warnings to other nations about the potential for Chinese goods to flood their markets due to U.S. tariffs, a prediction he believes has materialized.