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.
Turkish Foreign Minister Hakan Fidan has urged the U.S.-backed Syrian Democratic Forces (SDF) to “do its part for national unity” amid ongoing cla...
Iran's Supreme Leader Ayatollah Ali Khamenei on Friday (January 9) accused protesters of acting on behalf of U.S. President Donald Trump....
Türkiye has stepped back from mediating between Pakistan and Afghanistan after repeated efforts failed to narrow deep differences between Islamabad a...
Azerbaijan has dispatched a new rail shipment of petroleum products to Armenia, marking a continued resumption of trade following the lifting of long ...
Venezuela has released Former opposition candidate Enrique Marquez and prominent Venezuelan-Spanish rights activist Rocío San Miguel and four other S...
Iran's Supreme Leader Ayatollah Ali Khamenei on Friday (January 9) accused protesters of acting on behalf of U.S. President Donald Trump.
Türkiye has stepped back from mediating between Pakistan and Afghanistan after repeated efforts failed to narrow deep differences between Islamabad and Kabul.
Azerbaijan has dispatched a new rail shipment of petroleum products to Armenia, marking a continued resumption of trade following the lifting of long standing transit restrictions.
Venezuela has released Former opposition candidate Enrique Marquez and prominent Venezuelan-Spanish rights activist Rocío San Miguel and four other Spanish citizens, local rights group Foro Penal confirmed on Thursday (9 January).
Snow and ice stalled travellers in northwest Europe on Wednesday, forcing around a thousand to spend the night in Amsterdam's Schiphol airport but delighting others who set out to explore a snow-blanketed Paris on sledges and skis.
U.S. President Donald Trump has warned that Iran could face a strong response from the United States if its authorities kill protesters amid ongoing unrest.
Snow and ice caused travel chaos in northwest Europe on Wednesday, while others were delighted by the snow-covered streets of Paris, venturing out on sledges and skis.
Iran is now facing a near‑total internet blackout as anti-government protests sweep the country. Major cities including Tehran have seen connectivity drop sharply, leaving millions of residents isolated from online communication.
Hungary’s foreign minister on Wednesday criticised European plans to establish military hubs in Ukraine, saying the move risks pushing Europe closer to a direct confrontation with Russia.
U.S. oil major Chevron and private equity firm Quantum Capital Group are reportedly preparing a joint bid to acquire Lukoil’s international assets, as the sanctioned Russian energy company seeks to divest its overseas operations.
The U.S. dollar's share of global reserves fell to nearly 40% at the end of 2025, according to the International Monetary Fund (IMF), which says it's 10% lower than at the start of 2024. However, gold has risen and overtaken the dollar to be above 50% in global reserves according to the IMF data.
The U.S. dollar has strengthened against major peers on Tuesday, while the euro fell following slower-than-expected inflation in Europe. Market movements were relatively subdued as investors focused on upcoming U.S. economic data.
Wall Street closed higher on Tuesday, boosted by optimism over artificial intelligence (AI) and a strong rally in Moderna shares, with the Dow Jones Industrial Average approaching a record high.
India’s largest oil refiner, Indian Oil Corporation (IOC), has taken a significant step towards diversifying its crude oil supply by purchasing Colombian crude, from state oil company Ecopetrol, for the first time.
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