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Fighting coronavirus: It’s time to invest in universal public health

By Isabel Ortiz and Thomas Stubbs NEW YORK and LONDON, Mar 23 2020 (IPS) – Austerity policies pushed by international financial institutions have weakened public health systems, despite current financial support packages, condemning many people to die. As health systems of East Asia, Europe, and the Americas buckle under the strain of coronavirus, developing countries are expecting an even higher ... Read More »

Dhaka nods Tk 17,777-cr Matarbari Deep Sea Port Dev Project

It okays a total of nine projects Dhaka, March 11 – The Executive Committee of the National Economic Council (Ecnec) on Tuesday cleared nine projects with an estimated total cost of Tk 24,113.27 crore, including Tk 17,777-crore Matarbari Port Development Project taken to enhance the country’s cargo handling capacity through the port. Read More »

How World Bank arbitrators mugged Pakistan

By Jeffrey D. Sachs Thanks to the World Bank’s flawed and corrupt investment arbitration process, the rich are making a fortune at the expense of poor countries. The latest shakedown is a $5.9 billion award against Pakistan’s government in favor of two global mining companies for an illegal project that was never approved or carried out. Read More »

Financialization increases inequality

Kuala Lumpur/Penang, Feb (IPS/Jomo Kwame Sundaram and Michael Lim Mah Hui) — Financialization has worsened inequality through various channels, including macroeconomic policies. For example, quantitative easing and low, if not negative interest rates have fuelled credit and asset price bubbles, while fiscal spending cuts have adversely affected those depending on government assistance. Read More »

Climate change and financial risk

By Pierpaolo Grippa, Jochen Schmittmann, and Felix Suntheim WASHINGTON DC, Jan 16 2020 (IPS) – Climate change is already a reality. Ever-more-ferocious cyclones and extended droughts lead to the destruction of infrastructure and the disruption of livelihoods and contribute to mass migration. Read More »

HC makes Ibrahim Khaled director, chairman of ILFSL

Dhaka, Jan 21- To Protect the greater interest of the common shareholders and the depositors of the corporate sector of the country, the High Court has appointed Ibrahim Khaled, former deputy governor of the Bangladesh Bank, as an independent director and chairman of the International Leasing and Financial Services Limited (ILFSL). Read More »

Financing the green transition

By Bertrand Badré and Antoine Sire Paris – Four years after world leaders signed the Paris climate agreement and adopted the United Nations’ 2030 Agenda with its 17 Sustainable Development Goals (SDGs), the global environmental crisis shows every sign of worsening. Polar ice and glaciers are melting at an accelerating rate. Read More »

High-level meet on finance for dev – result business-as-usual

By: Jennifer del Rosario-Malonzo 28 September 2019, New York City — Following a disappointing Climate Action Summit that yielded few commitments, despite science showing the need for urgent system change, and a Sustainable Development Goals (SDGs) Summit acknowledging that the international community is off-track to achieve the SDGs in 10 years, the High-level Dialogue (HLD) on Financing for Development convened ... Read More »

SMEs to get access to finance, market; policy okayed

Dhaka, Sept 9 (UNB) – The Cabinet on Monday approved the draft of SME Policy 2019, aiming to ensure access to finance, technology and market for some 78 lakh SMEs in the country. The approval came at the Cabinet meeting held with Prime Minister Sheikh Hasina in the chair at her office. “The SME Policy will be implemented from 2019 ... Read More »

US defunds UNFPA for the third year– on wrong assumptions

By Thalif Deen UN, Jul 17 2019 (IPS) – The Trump administration, in its continued hostility towards the United Nations– and as part of its policy aimed at undermining multilateral institutions and international commitments– has withheld its annual contributions to the UN Population Fund (UNFPA) – for the third consecutive year. The three- year annual cuts, which began in 2017, ... Read More »

Facebook and friends threaten to libralise the world

By Anis Chowdhury and Jomo Kwame Sundaram Sydney and Kuala Lumpur, Jul 16 2019 (IPS) – On 17 June, a Facebook white paper proposed a new global digital currency it plans to launch in the first half of 2020. The Libra will be managed by a ‘not for profit’ Swiss-based Facebook-led consortium of ‘for-profit corporations’, with Uber, eBay, Lyft, Mastercard ... Read More »

Green Climate Fund agrees on ways to decide sans consensus

Songdo, 11 July (Indrajit Bose) — The Board of the UNFCCC’s Green Climate Fund (GCF) adopted a key decision on how the Board will make decisions in the event consensus could not be reached at its 23rd meeting in Songdo, South Korea from 6-8 July. In what several Board members termed as a “historic” decision, the Board adopted the decision ... Read More »