The World Bank is pushing for “radical” debt transparency from developing countries to prevent future financial crises, warning that hidden debts are fueling instability.
With many low-income countries resorting to complex, off-budget borrowing in a volatile global market, the Bank warns that lack of transparency can lead to financing freezes and worsening terms. Senior managing director Axel van Trotsenburg emphasized that “radical debt transparency” is key to breaking the debt-crisis cycle.
The Bank is urging legal reforms to require the disclosure of detailed, loan-by-loan data, public release of restructuring terms, and regular audits. While more countries are now reporting some debt information, only 25% share loan-level details.Countries such as Senegal, Cameroon, Gabon, Angola, and Nigeria have utilized less transparent financial arrangements, underscoring the need for improved debt reporting standards.
Former Transport Minister Jose Luis Abalos was taken to Soto del Real prison on Thursday following a ruling by Spain’s Supreme Court ordering his pr...
massive fire that swept through the Wang Fuk Court housing complex in Hong Kong’s northern district of Tai Po has claimed 83 lives, with nearly 300 ...
Ukrainian President Volodymyr Zelenskiy met Latvian Foreign Minister Baiba Braze in Kyiv on Thursday (27 November)....
Ukrainian President Volodymyr Zelenskyy announced on Thursday that Ukrainian and United States delegations are scheduled to meet later this week to ad...
At least 47 people have died and another 21 are reported missing following ten days of heavy rainfall, floods, and landslides across Sri Lanka, local ...
Former Transport Minister Jose Luis Abalos was taken to Soto del Real prison on Thursday following a ruling by Spain’s Supreme Court ordering his pre-trial detention over a corruption scandal that has embroiled Prime Minister Pedro Sanchez’s left-wing government.
massive fire that swept through the Wang Fuk Court housing complex in Hong Kong’s northern district of Tai Po has claimed 83 lives, with nearly 300 residents initially reported missing, authorities confirmed on Thursday.
Ukrainian President Volodymyr Zelenskiy met Latvian Foreign Minister Baiba Braze in Kyiv on Thursday (27 November).
Ukrainian President Volodymyr Zelenskyy announced on Thursday that Ukrainian and United States delegations are scheduled to meet later this week to advance discussions on a proposed ceasefire with Russia.
A passenger aircraft from Polish carrier LOT veered off a taxiway at Lithuania's Vilnius airport after arriving from Warsaw on Wednesday, halting all traffic, the airport operator said.
massive fire that swept through the Wang Fuk Court housing complex in Hong Kong’s northern district of Tai Po has claimed 83 lives, with nearly 300 residents initially reported missing, authorities confirmed on Thursday.
The Hayli Gubbi volcano in Ethiopia’s Afar region erupted on Sunday morning (23 November), covering nearby villages in ash.
At least 36 people have died in a fire that ravaged a residential apartment complex on Wednesday according to John Lee the chief executive of Hong Kong.
Netflix crashed on Wednesday for about an hour in the U.S. as it launched season five of "Stranger Things", with the service becoming inaccessible to many subscribers within minutes of the episodes going live at 8 p.m. local time.
European Union ministers will urge senior U.S. trade officials to implement more elements of the July EU–U.S. trade deal on Monday, including cutting tariffs on EU steel and lifting duties on goods such as wine and spirits.
Google has announced a major update for its Pixel 10 series: owners can now send and receive files with Apple devices using AirDrop, without any collaboration from Apple. The new functionality applies to iPhones, iPads, and macOS devices, though for now it is limited to the Pixel 10 line.
European shares climbed on Thursday, as a relief rally swept through global markets after artificial intelligence (AI) bellwether Nvidia reported strong earnings, while investors awaited the release of delayed U.S. jobs data.
Mainland China and Hong Kong equities slipped on Tuesday, Reuters reported, as investors grew cautious ahead of delayed U.S. economic data expected to clarify the Federal Reserve’s policy outlook.
A federal jury in California ruled on Friday that Apple must pay $634 million to Masimo, a medical-monitoring technology company, for infringing a patent related to blood-oxygen reading technology.
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