The United Nations convened on COVID response and development needs for vulnerable, small island and landlocked countries. The President of the Economic and Social Council, Pakistan Ambassador Munir Akram organized the high-level event to focus on countries struggling with specific disadvantages from the crisis. Continue reading

Financial decisions play a critical role in solving climate change, advocated Treasury Secretary Yellen during a US-hosted climate summit. More than 40 world leaders are attending the two-day virtual gathering convened by President Biden. Biden announced a new US target to halve fossil fuel emissions by 2030 and eliminate them by 2050. Continue reading

By Zachary Conti, The Development Committee, a ministerial-level consensus building and policymaking body for the World Bank and the IMF, met as part of the Spring IMF and World Bank Meetings. Eric LeCompte the Executive Director of the religious development... Continue reading

World leaders, finance ministers, heads of corporations and development groups are meeting virtually for the World Bank and IMF Spring Meetings. The International Monetary and Financial Committee (IMFC), the IMF policymaking body, discussed policy responses to the global COVID-19 economic crisis, including tax, aid, vaccines, Special Drawing Rights and debt processes to support developing countries. Continue reading

Ahead of Spring IMF and World Bank Meetings, World's Largest Unions, Human Rights Groups, Environmental and Religious Institutions Call for Aid, Debt Relief, Access to Emergency Reserves and Climate Protections Continue reading

The IMF warns that rising US interest rates could impact the ability of developing countries to pay debt, leading to prolonged economic crisis. Continue reading

Amidst Rising Inequality, Ninety Million Could Fall into Extreme Poverty Continue reading

The IMF Executive Board extended a process to cancel debt payments for the world's 28 poorest countries. Continue reading

Treasury notified Congress of its support for $650 billion in IMF global reserves, also known as Special Drawing Rights (SDRs), to assist developing countries struggling with the coronavirus crisis. Continue reading

International Monetary Fund head Kristalina Georgieva warned of an uncertain global recovery as the world struggles with the COVID spurred economic crisis. Continue reading

By: Zachary Conti The International Monetary Fund announced $650 billion in emergency reserve funds are needed to confront the global coronavirus health and economic crisis. The funds are likened to a type of currency the International Monetary Fund creates, called... Continue reading

G7 finance ministers agreed to create emergency reserve funds for developing countries wrestling with coronavirus economic impacts. The funds are likened to a type of currency the International Monetary Fund creates, called Special Drawing Rights (SDRs). "This is the strongest... Continue reading

Debt Relief, Transparency, Climate, Aid, Puerto Rico, SDR Reserves and Bankruptcy Discussed Continue reading

By: Zachary Conti Congress passed a $1.9 trillion stimulus package that includes Puerto Rico anti-poverty measures and $900 million of increased food aid through the Nutrition Assistance Program. The US territory suffers from a nearly 60% child poverty rate and... Continue reading

By Zachary Conti, Shia Muslim Leader and Pope to Meet Pope Francis kicks off a 3-day Iraq tour and meetings with Muslim leaders, government officials and representatives of the country's dwindling Christian population. Since the coronavirus pandemic began, Iraq saw... Continue reading

By Zachary Conti G20 finance ministers met Friday to discuss global coronavirus response. The group endorsed continuing stimulus plans in wealthy countries and supporting plans to increase aid and vaccine access for developing countries. "If the stimulus plan in the... Continue reading

By Zachary Conti, A UN experts report offers 14 recommendations to stop the loss of trillions in public revenues. The UN group argues that money lost to transnational crime, corruption and tax avoidance could be used to address the pandemic,... Continue reading

By Zachary Conti, In a letter to the G20, Treasury Secretary Janet Yellen expressed support for the G20 to determine a process for how global reserve funds (Special Drawing Rights) could be deployed to help low-income countries. "Yellen's letter is... Continue reading

By Zachary Conti, Catholic Bishops and Jubilee USA Network Urge President Biden to Aid World's Poor More than 215 organizations sent a letter to the G20 and IMF to issue $3 trillion in global reserves, known as Special Drawing Rights... Continue reading

By Zachary Conti $3 Trillion in Global Reserve Funds Should be Released to Support Developing Countries, Encourage Faith Leaders The Biden Administration should support the release of $3 trillion in global reserve funds to support developing countries confront the COVID... Continue reading

By Zachary Conti, G7 presidents and prime ministers, hosted by the United Kingdom, met virtually on coronavirus recovery plans. The G7 Summit focused on vaccine access, debt relief, curbing tax avoidance and climate change. President Biden pledged $4 billion to... Continue reading

By Zachary Conti Administration Legal Move Could Release $2.3 Billion for Vulnerable Puerto Ricans Say Faith Leaders In a letter sent to President Biden, 20 major Puerto Rico and US religious leaders urged actions on disaster relief, job creation, and... Continue reading

By Zachary Conti, G7 finance ministers met virtually to discuss economic recovery in the face of the coronavirus. The G7 agenda included global debt problems, vaccine distribution for developing countries and accessing global reserve funds or Special Drawing Rights. The... Continue reading

By Zachary Conti Zambia requested the G20 coronavirus debt relief process, the "Common Framework for Debt Treatment beyond the Debt Service Suspension Initiative." The process allows up to 73 of the world’s poorest countries to seek support under the mechanism.... Continue reading

By: Zachary Conti Chad became the first country to officially seek debt reduction under a G20-established coronavirus response process. In the fall, the G20 approved the “Common Framework for Debt Treatment beyond the Debt Service Suspension Initiative.” Up to 73... Continue reading