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.
Lebanon’s cabinet on Friday endorsed an army plan to disarm Hezbollah as Shi’ite ministers stage walk out in protest....
The U.S. has ordered the deployment of 10 F-35 fighter jets to a Puerto Rico airfield for operations against designated narco-terrorist groups operati...
David Lammy, Yvette Cooper and Shabana Mahmood are on the up as Prime Minister Keir Starmer reshuffles his cabinet following former deputy Angela Rayn...
At the Shanghai Cooperation Organisation (SCO) summit in China, fresh details surfaced about the circumstances behind Azerbaijan’s blocked membershi...
At the Prague Defence Summit, Defence Industries Secretary Haluk Görgün met with NATO Secretary General Mark Rutte, highlighting the sector’s rapi...
Lebanon’s cabinet on Friday endorsed an army plan to disarm Hezbollah as Shi’ite ministers stage walk out in protest.
Under the decisive and empowering leadership of President Ilham Aliyev, Azerbaijan has a remarkable trajectory in world politics.
David Lammy, Yvette Cooper and Shabana Mahmood are on the up as Prime Minister Keir Starmer reshuffles his cabinet following former deputy Angela Rayner's exit.
At the Shanghai Cooperation Organisation (SCO) summit in China, fresh details surfaced about the circumstances behind Azerbaijan’s blocked membership bid. Diplomatic sources cited by APA said the decision was not only driven by India but also actively supported by Russia.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
A recent Federal Reserve Bank of New York (New York Fed) study reveals that while the use of artificial intelligence (AI) among businesses has grown significantly over the past year, very few companies have carried out AI-related layoffs.
Rising concerns over the U.S. economy and ongoing tariff disputes have put global government bonds under selling pressure, experts say. Donald Trump’s push for interest-rate cuts, combined with a major spending bill, has shaken investor confidence, sending bond prices down while yields rise.
Access to Google services was restored Thursday after a region-wide outage cut off millions of users across dozens of countries, with disruptions reported in platforms including YouTube, Gmail and Maps.
The pound and the yen came under strain on Wednesday, weighed down by renewed investor concerns over global fiscal health and political uncertainty in Japan.
The price of gold surged sharply on Wednesday, reaching a new record of $3,530.08 per ounce. Analysts say the rise is driven by expectations of a U.S. Federal Reserve (Fed) rate cut in September and concerns over the central bank’s independence.
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