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How to tackle global challenges: The IMF & World Bank blueprint
How to tackle global challenges: The IMF & World Bank blueprint | Global Stage

How to tackle global challenges: The IMF & World Bank blueprint

The International Monetary Fund and World Bank’s Spring Meetings in Washington have told a tale of two economies: In the developed world, inflation is falling, and recession looks unlikely. But many of the world’s poorest countries are struggling under tremendous debt burdens inflated by rising interest rates that threaten to undo decades of development progress. That means these key lenders of last resort have their work cut out for them.

The good news? There’s a proven model, as GZERO Senior Writer Matthew Kendrick discussed with Tony Maciulis at a Global Stage event while reporting on the meetings. Somalia, once the byword for a failed state, managed to implement massive reforms to its financial system to meet the guidelines of the IMF’s Highly Indebted Poor Countries Initiative.

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People gather as they watch from afar after an alleged gang member was killed and set on fire, amid an escalation in gang violence, in Port-au-Prince, Haiti March 20, 2024.

REUTERS/Ralph Tedy Erol

Want to stabilize the world’s worst crises? “Leave your textbook in your drawer.”

Matthew Kendrick spoke with Ghassan Salamé, the former head of the UN Support Mission in Libya, and former UN Deputy Secretary-General Lord Mark Malloch-Brown, as part of a panel at the IMF/World Bank Spring Meetings on Wednesday.

The international community is struggling to address half a dozen conflicts, spanning from the Middle East to Haiti, that often involve institutions poorly equipped to tackle modern problems. But that doesn’t mean they can afford to stop trying; it just means they need to get creative.

“The most urgent need is to bring back humanitarianism as a domain independent from war,” said Ghassan Salamé, the former head of the UN Support Mission in Libya, noting that the basic concerns of food, education, and healthcare must not be held hostage to military objectives. “And you cannot apply it in a selective way. You have to apply it in Ukraine with the same strength you do in Gaza.”

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New Delhi, Mar 10 (ANI): Prime Minister Narendra Modi addresses the launch of Mahtari Vandan Yojana in Chhattisgarh via video conferencing, on Sunday.

ANI via Reuters Connect

Hard Numbers: India & EFTA sign trade deal, Oppenheimer's Oscars, Biden's big haul, Portuguese polls, Irish vote down constitutional change, New hope for Libya

100 billion: India has signed a trade agreement with the four members of the European Free Trade Association — Iceland, Liechtenstein, Norway, and Switzerland — aimed at integrating supply chains and opening new opportunities for trade and investment. The deal includes a commitment to invest a whopping $100 billion in India over the next 15 years to create 1 million jobs.

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FILE PHOTO: Russian officers from the Wagner Group are seen around Central African president Faustin-Archange Touadera, as they are part of the presidential security system during the referendum campaign to change the constitution and remove term limits, in Bangui, Central African Republic July 16, 2023.

REUTERS/Leger Kokpakpa

Have gun, will travel? Russia wants you in Africa

Moscow has reportedly begun recruiting 20,000 soldiers to be deployed to at least five Russia-aligned African countries to replace Wagner Group mercenaries previously stationed there as Russia deepens its influence on the continent.

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A mangrove forest is seen in Matang in Malaysia's northern state of Perak. Picture taken July 29, 2003

REUTERS/Bazuki Muhammad BM/PB

Hard Numbers: Pakistan plants mangroves, Hezbollah-Israel clashes deepen, Bidenomics goes bust, Liberians decide a runoff, Italy recaptures king of the jungle

142 million: A Pakistani project to revive mangrove forests in the Indus River Delta could absorb as much as 142 million tons of carbon dioxide over the next 60 years. Mangroves not only prevent erosion, they also sequester huge amounts of greenhouse gasses. But the project has stirred controversy, as it is backed by a company that is promoting it to sell carbon credits to polluting companies.

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Men and paramedic staff help transport a man who was injured in a blast in Mastung to a hospital in Quetta, Pakistan.


Hard Numbers: Pakistan blast, mRNA Nobel win, Kaiser Permanente strike, escaping Nagorno-Karabakh, flights to Libya, cashing in rupees

59: Fifty-nine people were killed Saturday in a bomb blast at a mosque in Mastung, Pakistan, where people were gathering to mark the birthday of the Prophet Mohammad. Pakistan’s interior ministry accused India’s intelligence service of masterminding the attack, a charge Delhi denies.

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Rwandan President Paul Kagame attends the lighting ceremony of the Rwandan genocide flame of hope, known as the "Kwibuka" (Remembering), to commemorate the 1994 Genocide at the Kigali Genocide Memorial Center in Kigali, Rwanda April 7, 2023

REUTERS/Jean Bizimana

Hard Numbers: Rwanda’s Kagame will run again, the EU takes on Uber, water contamination threat in Libya, US Fed keeps cool

4: Rwanda’s President Paul Kagame, who has been in power since 2000, announced that he’ll run for a fourth term in next year’s election.

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UN mobilizes to help disaster-stricken Libya and Morocco
UN mobilizes to help disaster-stricken Libya and Morocco | GZERO Media

UN mobilizes to help disaster-stricken Libya and Morocco

First, there was the devastating earthquake in Morocco. And then, cataclysmic flooding in Libya. Recent natural disasters in northern Africa have shocked the world. They've also mobilized United Nations rescue and support teams, says UN Secretary-General António Guterres in an exclusive GZERO World interview.

“We have a central emergency response fund, and we mobilized $10 million to support the operation in Libya," Guterres tells Ian Bremmer. "We are discussing, with Moroccan authorities, our best way to support them...We'll be doing everything to mobilize international community to support these two countries in this very, very tragic situation."

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