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.
Nearly 600,000 people took part in demonstrations across France on Thursday, protesting over rising living costs, stagnant wages and deteriorating ...
Armenian Prime Minister Nikol Pashinyan has defended his government’s ‘Real Armenia’ ideology at the 2026 Global Armenian Summit ...
Armenia’s national aspirations must be contained within its internationally recognised borders, Armenian Prime Minister Nikol Pashinyan ...
Romanian authorities said late on Thursday that two additional planes had received bomb threats including a KLM flight to Tel Aviv that had a layover in Bucharest.
U.S. Vice President JD Vance has blamed the war with Iran for the Republicans' defeat in the 2026 midterm elections, arguing that voters who supported President Donald Trump in 2024 turned to the Democrats because of foreign policy and economic concerns.
The war between Russia and Ukraine continued to claim civilian lives this week even as diplomatic activity intensified ahead of planned peace discussions in Abu Dhabi.
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A British healthcare worker who contracted Ebola while working in the Democratic Republic of Congo is being transferred to the United Kingdom for specialist medical care, according to British authorities.
Australian design platform Canva has announced a major restructuring affecting 22 per cent of its workforce, with 1,271 employees facing job cuts, relocations or changes to their roles as the company grapples with slowing growth and rising AI costs.
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Russian President Vladimir Putin has praised record trade with Egypt as Moscow seeks to use its economic ties with Cairo to expand its influence across Africa, with a focus on manufacturing, infrastructure and energy.
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