Globalization/Anti-globalization

COP26: New Research Shows Latin American and Caribbean Countries Face Growing Climate Risks

Debt Relief Can Fund Climate Action, Says Religious Development Group

As climate talks continue in Scotland, new research shows that developing countries lack the resources to respond to the climate crisis.

Improving tax collection raises needed resources for countries, noted Treasury Secretary Yellen at a virtual G7 finance ministers meeting. Yellen praised a July G20 agreement to curb corporate tax avoidance. The agreement is supported by 134 countries.

On the 5th of April, Jubilee USA reported that the IMF has agreed to suspend "debt" repayments during the pandemic from 28 of the world's poorest countries. While this falls far short of the original and ongoing demand of full debt cancelllation, there is no way the pre-A16/April 2000 IMF and World Bank would have done this. A decade of protests mostly in DC came in between.

The White House announced a $3.7 billion disaster grant for Puerto Rico to rebuild reservoirs, dams, and wastewater facilities.

“Puerto Rico suffers from a debt crisis and is still recovering from hurricanes and earthquakes,” said Eric LeCompte, the Executive Director of Jubilee USA Network, a religious development organization. "The aid is vital as Puerto Rico needs to rebuild infrastructure damaged by disasters."