UN Chief Wants $500 Billion Annual Development Fund, Financial Reforms

By Arul Louis* UNITED NATIONS. 18 September 2023 (IDN) — UN Secretary-General António Guterres on Monday renewed his call for the reform of the “outdated, dysfunctional and unfair” World Bank and the International Monetary Fund (IMF) and for a $500 billion stimulus fund for the world organisation’s Sustainable Development Goals (SDGs). Speaking at the opening […]

India Steers G20 Towards Supporting Global South’s SDG Push

By Kalinga Seneviratne SINGAPORE. 13 September 2023 (IDN) — In a rare demonstration of consensus, Russia and the US welcomed the New Delhi Declaration of the G20 summit on 10 September that did not condemn Russia for its invasion of Ukraine. Instead, they focused on the development challenges facing the global community. Russian Foreign Minister […]

The World Must Come Together to Address Global Challenges

By Kristalina Georgieva and Ajay Banga Following are excerpts from the Joint Statement issued by Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), and Ajay Banga, President of the World Bank, on 7 September 2023. WASHINGTON, DC. 8 September 2023 (IDN) — The world confronts significant economic challenges, the existential threat of climate […]

Albania, As UNSC Chair, To Launch Private Sector Alliance for Humanitarian Aid

By Arul Louis* United Nations. 2 September 2023 (IDN) — Albania, which holds the presidency of the Security Council this month, is planning to launch a platform for the private sector to work with the world organization in providing humanitarian assistance, according to the nation’s Permanent Representative Ferit Hoxha. On 1 September, he said that […]

BRICS Summit: The Foundation for a Multipolar World – Part 1

By Somar Wijayadasa* Editor’s note: This is the first of a three-part article dealing with an issue of immense interest to our readers and a subject that affects all developing countries. NEW YORK. 28 August 2023 (IDN) — With a massive gathering of leaders of non-Western nations—surpassed only by that of the 114-member Non-Aligned Movement (NAM) […]

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