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offsite link Russian Firms Rush to Buy Anti-Drone Def... Wed Apr 17, 2024 08:58 | Bloomberg

offsite link Ukraine Buys Huge Amounts of Russian Fue... Fri Jan 20, 2023 08:34 | Antonia Kotseva

offsite link Turkey Has Sent Ukraine Cluster Munition... Thu Jan 12, 2023 00:26 | Jack Detsch

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offsite link Russia Training Iranian Pilots Ahead of ... Tue Jan 10, 2023 15:19 | The Times of Israel

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The Saker
A bird's eye view of the vineyard

offsite link Alternative Copy of thesaker.is site is available Thu May 25, 2023 14:38 | Ice-Saker-V6bKu3nz
Alternative site: https://thesaker.si/saker-a... Site was created using the downloads provided Regards Herb

offsite link The Saker blog is now frozen Tue Feb 28, 2023 23:55 | The Saker
Dear friends As I have previously announced, we are now “freezing” the blog.  We are also making archives of the blog available for free download in various formats (see below). 

offsite link What do you make of the Russia and China Partnership? Tue Feb 28, 2023 16:26 | The Saker
by Mr. Allen for the Saker blog Over the last few years, we hear leaders from both Russia and China pronouncing that they have formed a relationship where there are

offsite link Moveable Feast Cafe 2023/02/27 ? Open Thread Mon Feb 27, 2023 19:00 | cafe-uploader
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offsite link The stage is set for Hybrid World War III Mon Feb 27, 2023 15:50 | The Saker
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Lockdown Skeptics

The Daily Sceptic

offsite link The Scandal of the Thousands Sacked for Wrongthink Thu Apr 18, 2024 19:00 | C.J. Strachan
In the wake of the Cass Report vindicating critics of child gender transition, a workplace survey reveals that millions of British workers may have been sacked for falling foul of woke ideology.
The post The Scandal of the Thousands Sacked for Wrongthink appeared first on The Daily Sceptic.

offsite link Let?s Spare the Environment From the Greens Thu Apr 18, 2024 17:00 | Alan Bunce
From the 3,200 acre solar farm built on prime green belt farmland in Oxford to the 16 million Scottish trees felled to make way for wind farms, somehow we have to save the environment from the greens, says Alan Bunce.
The post Let’s Spare the Environment From the Greens appeared first on The Daily Sceptic.

offsite link The Insane World of Intersectional Climate Change Thu Apr 18, 2024 15:00 | Steven Tucker
Why are the mainstream media suddenly desperate to spuriously link climate change to unrelated woke issues like transgenderism? 'Intersectionality' is to blame for the insanity, says Steven Tucker.
The post The Insane World of Intersectional Climate Change appeared first on The Daily Sceptic.

offsite link Electric Car Demand Plunges Across Europe Thu Apr 18, 2024 13:00 | Will Jones
Electric car sales plummeted by 11.3% across Europe last month, rising to 29% in Germany, as demand dried up despite the EU's push to ban petrol and diesel vehicles by the middle of the next decade.
The post Electric Car Demand Plunges Across Europe appeared first on The Daily Sceptic.

offsite link Deadly African Heatwave ?Impossible? Without Climate Change, Claims BBC Thu Apr 18, 2024 11:00 | Sallust
A deadly heatwave in West Africa was "impossible" without climate change, claims the BBC. But read the fine print and you learn that El Niño was the more likely culprit.
The post Deadly African Heatwave “Impossible” Without Climate Change, Claims BBC appeared first on The Daily Sceptic.

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Voltaire Network
Voltaire, international edition

offsite link The cost of war, by Manlio Dinucci Wed Apr 17, 2024 04:12 | en

offsite link Angela Merkel and François Hollande's crime against peace, by Thierry Meyssan Tue Apr 16, 2024 06:58 | en

offsite link Iranian response to attack on its consulate in Damascus could lead to wider warf... Fri Apr 12, 2024 13:36 | en

offsite link Is the possibility of a World War real?, by Serge Marchand , Thierry Meyssan Tue Apr 09, 2024 08:06 | en

offsite link Netanyahu's Masada syndrome and the UN report by Francesca Albanese, by Alfredo ... Sun Apr 07, 2024 07:53 | en

Voltaire Network >>

IMF: Indebted Countries Suffer if US Interest Rates Rise

category international | economics and finance | press release author Tuesday April 06, 2021 17:49author by Zachary Conti - Jubilee USA Report this post to the editors

The IMF warns that rising US interest rates could impact the ability of developing countries to pay debt, leading to prolonged economic crisis. The warning comes ahead of IMF, G20 and World Bank meetings, with the Fund's release of the Global Financial Stability Report.

The IMF warns that rising US interest rates could impact the ability of developing countries to pay debt, leading to prolonged economic crisis. The warning comes ahead of IMF, G20 and World Bank meetings, with the Fund's release of the Global Financial Stability Report.

“Except for Zambia, all countries that defaulted over the last year were middle-income countries,” said Eric LeCompte, the Executive Director of the religious development organization Jubilee USA Network. “Unfortunately, developing middle-income countries are not included in IMF and G20 debt relief solutions."

The report warns that recovery from the pandemic will be unequal between rich and poor countries and that more needs to be done to strengthen long-term stability around the globe. This morning the IMF released the World Economic Outlook Report estimating that 95 million more people fell into extreme poverty over the last year, living on less than $1.90 a day.

"Wealthy countries invested in big stimulus packages and can rebound more quickly," said LeCompte. "Billions of people in developing countries are left behind and their lives will be even worse after the pandemic."

Read the IMF's Global Financial Stability report here: https://www.imf.org/en/Publications/GFSR/Issues/2021/04/06/global-financial-stability-report-april-2021#FullReport

Read Jubilee USA's release on the IMF's World Economic Outlook report here: https://www.jubileeusa.org/pr_imf_weo_spring_2021

Read about the IMF extending a process to cancel debt payments for the world's 28 poorest countries here: https://www.jubileeusa.org/pr_imf_ccrt_fall_2021

Read about the IMF announcing support for $650 billion in emergency reserves here: https://www.jubileeusa.org/pr_imf_650_bn_sdr

Related Link: https://www.jubileeusa.org/pr_imf_gfsr_apr_2021
author by Zachary Conti - Jubilee USApublication date Wed Apr 07, 2021 16:01author address author phone Report this post to the editors

Ahead of Spring IMF and World Bank Meetings, World's Largest Unions, Human Rights Groups, Environmental and Religious Institutions Call for Aid, Debt Relief, Access to Emergency Reserves and Climate Protections
As G20, IMF and World Bank Spring Meetings convene virtually on global COVID response, 260 groups call for developing country aid and policies to prevent future crises and protect the environment.
Organized by Jubilee USA Network, 260 religious groups, anti-poverty organizations, labor unions, environmental and human rights institutions signed a letter on coronavirus crisis response to the White House, G20 and IMF.

“World leaders worked hard over the last year to tackle the health and economic crises spurred by the COVID pandemic," said Eric LeCompte, a UN finance expert who heads the religious development group Jubilee USA Network. Jubilee USA spearheaded the letter effort. “We must do more. Unless we take immediate action to solidify more aid and relief, we face lost decades of development and millions more will suffer.”

The G20 agreed to suspend debt payments for 73 developing countries through next June and created a process for the same countries to reduce debt. The IMF announced it would cancel debt payments for 28 of the world's poorest countries into October.

In recent weeks, the G7 supported an allocation of emergency reserve funds or Special Drawing Rights (SDRs). Treasury notified Congress of support for the aid and the G20 is expected to announce support for SDRs this week.

“If the IMF and G20 move forward emergency reserves, it means right away developing countries can access more than $200 billion to fight the health and economic impacts of the coronavirus," stated LeCompte. "We will likely see another additional process where hundreds of billions of more dollars in Special Drawing Rights could be transferred from wealthy countries to developing countries for further support."

Major religious institutions lead the Jubilee USA letter to the IMF, White House and G20. The signers include: The Union for Reform Judaism, All Africa Conference of Churches, National Council of Churches and the Episcopal, Evangelical Lutheran, Presbyterian, Methodist and United Church of Christ Churches. The Unitarian Universalist Association and the largest representations of Quaker communities and Buddhist consortiums are on the letter. The US Conference of Catholic Bishops sent a separate, companion joint letter with Jubilee USA Network and Pope Francis called again for a debt relief process in his Encyclical Fratelli Tutti.

Counting their membership in the millions, labor bodies including the International Trade Union Confederation, United Steelworkers (USW), American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) and American Federation of State, County and Municipal Employees (AFSCME) joined faith groups on letter. Other signers include human rights organizations like Amnesty International and Pax Christi and also environmental advocates ranging from Amazon Watch to Friends of the Earth. Development groups were represented and included Islamic Relief, American Jewish World Service, American Friends Service Committee, Bread for the World, Action Aid, Oxfam, RESULTS and Health Gap.

On March 16th, Jubilee USA organized a roundtable with Treasury Secretary Janet Yellen and the highest-ranking leaders to specifically go over the calls in the Jubilee letter. A separate letter with 240 groups supporting SDRs was sent to the G20. The additional G20 SDR letter was coordinated by Jubilee USA and LATINDADD.

Read Jubilee USA's COVID-19 White House, IMF, G20 Letter here.

Read the joint US Conference of Catholic Bishops/Jubilee USA Network Letter to President Biden here.

Read about Jubilee USA's High-Level Roundtable with Secretary Yellen here.

Read Jubilee USA's release on the IMF's Global Financial Stability report here.

Read Jubilee USA's release on the IMF's World Economic Outlook report here.

Read about the IMF extending a process to cancel debt payments for the world's 28 poorest countries here.

Read about the IMF announcing support for $650 billion in emergency reserves here.

Read the letter from 240 groups to the IMF and G20 here.

Related Link: https://www.jubileeusa.org/pr_covid_jubilee_wh_imf_g20_letter_april_2021
 
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