As Barbuda, part of the Caribbean island nation of Antigua and Barbuda, reels from having almost the entirety of its infrastructure and 95% of its homes destroyed due to Hurricane Irma, the International Monetary Fund (IMF) has rejected a moratorium proposal to discuss the island's US$3 million dollar debt.
The latest World Bank Global Monitoring Report boasted that only 9.6% of the world's population — 702 million people — are forecast to be living in extreme poverty in 2015, 200 million fewer than in 2012. And this even with the WB now raising its official poverty line from the 2008 US$1.25 a day level to US$1.90.
WB president Jim Yong Kim declared that the world has a good chance of ending extreme poverty by 2030.
The United Nations Climate Change Conference will take place in Paris between November 30 and December 11. By the time it starts, 2015 is almost certain to have beaten last year as the warmest year ever.
This August has now been confirmed as the hottest August since records began in 1880. Other months this year that broke records were February, March, May, June and July.
“Billionaire hedge fund managers have called on Puerto Rico to lay off teachers and close schools so that the island can pay them back the billions it owes,” the Guardian said on July 28 on the debt crisis facing the United States' Caribbean colony.
An event of profound importance took place in Brussels on July 12. The significance of the European summit negotiations extends well beyond the immediate — and devastating — consequences for the people of Greece.
The fallout will not just affect the stability of the Greek government and the political future of SYRIZA and Prime Minister Alexis Tsipras.
We, the undersigned, stand in solidarity with the people of Greece and the SYRIZA-led government as they prepare for a referendum on July 5, 2015, on whether to accept the continuation of the program of neoliberal austerity or chart a new course free from the debilitating stranglehold of the Troika — the International Monetary Fund, the European Central Bank, and the European Commission.
We support the call of SYRIZA for a “no vote” as the only option for the people of Greece, especially the working classes, to assert sovereign control over the country's economy and their own future.
The debt imposed on Greece and its people by creditors directly infringes the human rights of Greeks and is “illegal, illegitimate and odious”, a preliminary report issued by the Audit Committee on Public Debt declared on June 17.
The finding came as talks between Greece and its creditors finished without a deal on June 18. The International Monetary Fund is threatening the near-bankrupt country with default unless it pays the US$1.7 billion it owes by the June 30 deadline.
There is a tense stand-off right now between Greece's government and the so-called troika — the European Commission, the European Central Bank (ECB), and the International Monetary Fund (IMF). ECB President Mario Draghi recently went so far as to deny that his institution was trying to blackmail Greece's left-wing anti-austerity government.
But blackmail is actually an understatement. It has become increasingly clear that the troika is trying to harm the Greek economy in order to raise pressure on the new Greek government to agree to its demands.
What does the victory of radical left party SYRIZA in Greece's January 25 elections mean for politics in Europe, at Europe-wide and national levels? Both levels are closely intertwined, and since SYRIZA’s win have been having rapid feedback effects on each another.
Across Europe, the reverberations of SYRIZA’s win are being felt with rising force, both in “peripheral” Europe, but also in the German-led European Union “core”.
Although the International Monetary Fund (IMF) claims it is part of the solution, the IMF is really part of the problem of underdevelopment and it has been for decades.
The latest proof is that the conditions imposed on countries in need have had serious impacts on the development of these countries’ public health services. In some countries, this means letting epidemics destroy the lives of thousands of people.
The latest example involves the Ebola epidemic.