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.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
President Ilham Aliyev welcomed Uzbekistan’s Minister of Investment, Industry and Trade, Laziz Kudratov, in Baku, as the two countries look to deepen their strategic economic partnership.
China issued red alerts as extreme monsoon rain trigger flash floods across central and southern regions, threatening lives, and infrastructure.
Germany’s producer prices dropped 1.2% year-on-year in May, in line with market expectations, largely due to falling energy prices, official data showed Friday.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 20th, covering the latest developments you need to know.
Several EU Member States have activated the EU Civil Protection Mechanism (UCPM) to assist the departure of citizens due to the airspace closures in the Middle East. Slovakia, Lithuania, Greece, Poland and Portugal have requested UCPM support to assist the departure of their nationals.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
In 19 EU countries, the share of renewable energy sources in net electricity generation decreased in the first quarter of 2025 compared with the first quarter of 2024. The largest drops were recorded in Greece (-12.4%), Lithuania (-12.0%) and Slovakia (-10.6%).
President Ilham Aliyev welcomed Uzbekistan’s Minister of Investment, Industry and Trade, Laziz Kudratov, in Baku, as the two countries look to deepen their strategic economic partnership.
China issued red alerts as extreme monsoon rain trigger flash floods across central and southern regions, threatening lives, and infrastructure.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
Peace is no longer a dream. It is a discussion. On the streets of Baku and Yerevan, it is also a question, of trust, of foreign interests, and of who truly wants it.
Israeli strikes have reportedly targeted areas near the residences of Iran’s Supreme Leader Ayatollah Ali Khamenei and President Masoud Pezeshkian, according to the New York Times, citing local witnesses.
Azerbaijan Airlines (AZAL) has cancelled certain flights scheduled for 13th and 14th June amid recent escalation of situation in the Middle East and the closure of airspace in several countries for security reasons.
The 2025 G7 Leaders’ Summit was held June 15–17 in Kananaskis, Alberta, under Canada’s presidency. Prime Minister Mark Carney framed the meeting around priorities of protecting communities, energy and climate security, the digital transition, and future partnerships.
Germany’s producer prices dropped 1.2% year-on-year in May, in line with market expectations, largely due to falling energy prices, official data showed Friday.
European stock markets ended the day in negative territory following interest rate decisions by major central banks, including the U.S. Federal Reserve (Fed) and the Bank of England (BoE).
South Korea’s new administration proposed $14.7 billion in additional spending on Thursday to boost weak domestic demand, as President Lee Jae Myung pushes economic recovery as his top priority.
If the European Central Bank adjusts interest rates in the next six months, the move would likely be a cut, ECB policymaker Francois Villeroy de Galhau said on Thursday.
The European Bank for Reconstruction and Development (EBRD) has launched its Youth in Business programme in Türkiye, building on its success in 12 other countries. The initiative aims to mobilise up to €250 million in financing to support young entrepreneurs under 35.
Several EU Member States have activated the EU Civil Protection Mechanism (UCPM) to assist the departure of citizens due to the airspace closures in the Middle East. Slovakia, Lithuania, Greece, Poland and Portugal have requested UCPM support to assist the departure of their nationals.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
In 19 EU countries, the share of renewable energy sources in net electricity generation decreased in the first quarter of 2025 compared with the first quarter of 2024. The largest drops were recorded in Greece (-12.4%), Lithuania (-12.0%) and Slovakia (-10.6%).
President Ilham Aliyev welcomed Uzbekistan’s Minister of Investment, Industry and Trade, Laziz Kudratov, in Baku, as the two countries look to deepen their strategic economic partnership.
China issued red alerts as extreme monsoon rain trigger flash floods across central and southern regions, threatening lives, and infrastructure.
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