World Bank-IMF Pledge Support for Pandemic Affected Countries
By Caroline Mwanga
WASHINGTON (IDN) — While planning to rebuild economies after the COVID-19 pandemic, countries would do well to lay the foundation for a green, resilient, and inclusive future. This was the message of the World Bank-International Monetary Fund (IMF) virtual Spring Meetings from April 5 to 11, 2021. World Bank Group President David Malpass outlined the major challenges facing the world, including COVID, climate change, rising poverty and inequality, and growing fragility and violence as a part of the focus on Economic Recovery: Toward a Green, Resilient, and Inclusive Future. CHINESE | JAPANESE | PORTUGUESE
Global Pandemic Hits the World’s Poorest the Hardest
By J Natranis
NEW YORK (IDN) — The COVID-19 pandemic has triggered a deeply troubling situation in the world’s poorest countries. It threatens to push the achievement of the Sustainable Development Goals (SDGs) another ten years further into the future, warns the Financing for Sustainable Development Report 2021 by more than 60 United Nations Agencies and international organizations. Because of the pandemic, the global economy has experienced the worst recession in 90 years. JAPANESE | THAI | TURKISH
African Free Trade Area Expected to Lift Millions out of Extreme Poverty and Boost Growth
By Busani Bafana
BULAWAYO, Zimbabwe (IDN) — The long-awaited African Continental Free Trade Area (AfCFTA)—set to be the world’s biggest free-trade zone by size—which entered into force on January 1, 2021, promises a new era for African trade.
An Africa-wide free-trade pact could bolster the region’s income by $450 billion and lift 30 million people out of extreme poverty by 2035, if accompanied by significant policy reforms and trade-facilitation measures, according to the World Bank. When fully operational, the Free Trade area will create a market of 1.2 billion and drive a combined GDP of $2.5 trillion. GERMAN | JAPANESE | SWAHILI
| Published by The Non-profit International Press Syndicate Group with IDN as the Flagship Agency 33 Lafferty Street, Toronto, ONT M9C5B5, CANADA Europaplatz 2, 8th Floor, 10557 Berlin, GERMANY Ichimura bldg. 4F, 3-2 Kanda Ogawa-cho, Chiyoda-ku, Tokyo JAPAN 101-0052 as part of a Joint Media Project with the Soka Gakkai International 15-3 Samon-cho, Shinjuku-ku, Tokyo 160-0017, Japan |