Shehbaz Sharif elected Pakistan’s Prime Minister for second term
Karachi, Pakistan Reuters Pakistan’s newly formed parliament elected Shehbaz Sharif on Sunday as Prime Minister for a second time, three weeks after uncertain national elections caused delays in the formation of a coalition government. He beat Omar Ayub, the candidate backed by jailed former Prime Minister Imran Khan, who secured 92 votes. Sharif returns to […]
Pakistan ex-PM Imran Khan urges IMF to call election audit, his lawyer says
Islamabad, Pakistan Reuters Pakistan’s jailed former prime minister Imran Khan will write to the IMF urging it to call for an independent audit of the country’s controversial 8th February national elections before it continues talks with Islamabad, his lawyer said on Thursday. Pakistan averted default last summer thanks to a short term International Monetary Fund bailout, but […]
Niger arrests politicians after coup, other juntas voice support
Niamey, NigerReuters The junta that seized power in Niger last week detained senior politicians on Monday, their party said, defying international calls to restore democratic rule, while fellow military rulers in West Africa expressed their support. The overthrow of President Mohamed Bazoum has sent shockwaves across West Africa, pitting Niger’s former Western allies against the […]
Lebanon’s crisis deepens as presidential vote collapses
Beirut, LebanonReuters The powerful Hezbollah group and its allies thwarted a bid by their rivals to elect a top IMF official as Lebanon’s president on Wednesday, sharpening sectarian tensions and further dimming prospects for preventing a collapse of the state. Four years since Lebanon went into a financial meltdown that marks its worst crisis since […]
Pakistan ups security as 11 killed in Ramadan food stampedes
Islamabad, PakistanAP Pakistan on Thursday boosted security after 11 people were killed in stampedes at free wheat distribution centres for the poor since the start of the Islamic holy month of Ramadan last week, officials said. Cash-strapped Pakistan last week launched the initiative to distribute free flour among low-income families to ease the impact of […]
Debt-laden African countries charged “extortionate” rates, UN chief says
Addis Ababa, EthiopiaReuters Heavily indebted African countries are getting a raw deal from the international financial system which charges them “extortionate” interest rates, the UN Secretary-General Antonio Guterres said on Saturday. The United Nations chief wants far-reaching reforms to the structure of international finance to serve the needs of developing countries more efficiently, he told […]
External backers pour billions into Ukraine to counter war damage
Kyiv, Ukraine/London, UK Reuters Pictures of devastation in Ukraine following Russia’s invasion have sparked urgent questions over how its reconstruction can be paid for. But before they can even begin to be answered, Kyiv is seeking billions just to ride out this year. After a 30 per cent contraction in its economy in 2022, Ukraine […]
Davos 2023: Outlook brighter than feared, fraught with risks
Davos, Switzerland Reuters The year ahead looks better than feared for the global economy but remains fraught with risks including escalation of the conflict in Ukraine and the emergence of a transatlantic trade war, the World Economic Forum’s final panel concluded. International Monetary Fund Managing Director Kristalina Georgieva told the Davos audience that what had improved […]
Serious debt crisis unfolding across developing countries – UNDP
London Reuters The United Nations’ Development Programme joined on Tuesday the chorus of institutions and charities warning that a serious debt crisis is now taking hold in the poorest parts of the world. In a new report, the UNDP estimated that 54 countries, accounting for more than half of the world’s poorest people, now needed […]
IMF says up to 20 countries could require emergency assistance to ease food crisis
Riyadh, Saudi Arabia Reuters The International Monetary Fund said on Monday that up to 20 countries, many in Africa, could need emergency assistance to cope with the global food crisis. IMF Managing Director Kristalina Georgieva, speaking at a conference in Saudi Arabia, also said that 141 million people across the Arab world are exposed to […]