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Reform IMF, WB to reflect interests of Global South, BRICS has role: Guterres

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Reform IMF, WB to reflect interests of Global South, BRICS has role: Guterres

United Nations, Feb 9 (IANS) The international financial and development institutions should be reformed to reflect the interests of the Global South, Secretary-General Antonio Guterres has said.

While the BRICS can play an important and complementary role for developing nations, he stressed that it should not contribute to a fragmentation of the world economy.

The international financial institutions — the International Monetary Fund and the World Bank — and the Security Council that were created in the 1940s after World War II reflect “what the power relations and the global economy were at that time” but aren’t relevant to today’s world, he said at a news conference here on Thursday.

Since they don’t “correspond to the power relations and to the global economy as it is today”, he said, “it will be very important for those institutions to reform in order to represent today’s global economy, to be truly universal and truly inclusive”.

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“We obviously need that those institutions reflect more obviously the interests of the Global South”, he emphasised.

Asked about the role of BRICS, he said that “it is important to have a multiplicity of different organisations to support developing countries” in the finance and trade sectors.

“But”, he added, “it is essential that (it) doesn’t correspond to a fragmentation of the global economy”.

“One of the most important aspects that we need to preserve today is One Global Economy, One Global Market, One Global Internet and to avoid the fragmentation of that global economy”, he said.

“Within a united global economy, I think that many of these institutions (like BRICS) can play an extremely important and complementary role”, he added.

BRICS, made up originally of emerging economies Brazil, Russia, India, China and South Africa, has expanded to include Ethiopia, Egypt, Iran, Saudi Arabia and the United Arab Emirates with membership queries from 34 countries pending.

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The group, which aims to foster trade and financial cooperation has created the New Development Bank to fund development projects and help financial stabilisation in the member countries, functioning in some ways like the established financial institutions.

About the fitness of the Bretonwoods Institutions — as the World Bank and the International Monetary Fund are known for the venue of their founding — to meet contemporary needs, Guterres said that besides the unrepresentative character of their power structure and orientation, they are undercapitalized and too small for the current global needs.

“The truth is that they became too small”, he said, pointing out that “the paid-in capital of the World Bank as a percentage of global GDP today is less than one-fifth of what it was in 1960”.

“So we obviously need a meaningful capitalisation of those institutions”, he said.

While the UN cannot reform them, Guterres said that he would like to see the United Nations Summit of the Future in September give some directions for the way those institutions “should structurally move”.

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Assessing the global political situation, Guterres said, “We are no longer in a bipolar or unipolar world, as I said, we are in a kind of on the way to a multipolar world, but in a very chaotic situation”.

“Power relations became unclear and what we see today in the world is political actors doing whatever they want and with total impunity”, he said.

To end the multitude of conflicts and divisions and to effectively address threats posed by Artificial Intelligence, to act on climate action and to achieve the Sustainable Development Goals, “a serious conversation between developed and developing countries; between rich and emerging economies; between north and south, east and west” is needed, he said.

(Arul Louis can be contacted at arul.l@ians.in and followed at @arulouis)

–IANS

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Laos seeks to enhance nutrition amid climate change concerns

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Laos seeks to enhance nutrition amid climate change concerns

Laos seeks to enhance nutrition amid climate change concerns

Vientiane (Laos), Aug 22 (IANS) Representatives from the Lao government and development partners have attended a conference here titled “Climate Change and Nutrition in Laos: Intersections and Interventions” to discuss the impact of climate change on nutrition in the Southeast Asia country and potential solutions.

Speaking at the conference, deputy director general of the Department of Hygiene and Health Promotion under the Lao Ministry of Health Viengkhan Phixay, said, “We gather to address a critical and interwoven issue: the impact of climate change on nutrition and how we can work together to tackle these challenges,” Xinhua news agency reported.

The Lao government is actively engaged in this endeavor, with numerous policies and initiatives aimed at addressing both climate change and nutrition, Lao National Television reported on Thursday.

“By leveraging the Scaling Up Nutrition network in Laos, which is led by the government, and supported by civil society, donors, and the United Nations, we have a robust platform to tackle the negative impacts of climate change while improving nutrition and overall health for everyone in Laos,” Viengkham said at the conference held on Monday.

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The conference featured a series of presentations that not only detailed evidence-based research but also introduced innovative tools for measuring and enhancing nutrition under the impact of climate change.

The conference stressed the critical need for integrated approaches to tackle the intertwined challenges of climate change and nutrition, and setting the stage for impactful future collaborations.

–IANS

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One killed, seven injured in shootout in Iraq

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One killed, seven injured in shootout in Iraq

One killed, seven injured in shootout in Iraq

Baghdad, Aug 22 (IANS) A civilian was killed while seven others were injured on Thursday in a tribal shootout in Iraq’s holy Shiite province of Najaf, according to a local security source.

The shootout erupted in the early hours between armed men from the local tribe in the al-Zarga area in northern Najaf, some 160 km south of Baghdad, a local police officer told Xinhua on condition of anonymity.

The clash resulted in the killing of an Iraqi civilian and the injury of seven others, including three Iranian Shiite pilgrims, the source added.

A joint force from the Interior Ministry’s emergency response division and Najaf provincial police arrested 53 gunmen from both sides of the shootout and seized weapons and ammunition, the Interior Ministry said in a statement.

It added that search operations are ongoing to locate additional gunmen and weapons, with more details to be released later.

The incident took place as numerous pilgrims traveled to the city of Karbala to observe Arbaeen, which marks the end of a 40-day mourning period for the killing of Imam Hussein, the grandson of Prophet Muhammad, in the Battle of Karbala in 680 A.D.

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Typically, these pilgrims also visit Najaf as part of their journey to Karbala.

–IANS

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Bangladesh seeks $1 billion budget support from World Bank

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Bangladesh seeks  billion budget support from World Bank

Bangladesh seeks $1 billion budget support from World Bank

Dhaka, Aug 22 (IANS) Bangladesh’s interim government has sought $1 billion from the World Bank as budgetary support.

The call came from the country’s Power, Energy and Mineral Resources Adviser Muhammad Fouzul Kabir Khan’s meeting with Abdoulaye Seck, the World Bank’s Country Director for Bangladesh and Bhutan, in Dhaka on Wednesday.

He made the plea as the ministry owes more than 2 billion dollars to suppliers in import costs of power and energy, Xinhua news agency reported.

Khan mentioned that the interim government, which was formed with many pressing mandates, is due to settle a $2 billion debt left by the previous government in the power sector.

He said they have already suspended activities under the much-criticized Quick Enhancement of Electricity and Energy Supply Act 2010 and abolished the government’s power to set energy prices without any public hearing.

On August 5, the former Prime Minister of Bangladesh, Sheikh Hasina, was ousted from her country and power, ending her rule since January 2009.

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This event was seen as a massive escalation, with what initially started as student’s protests and resulted in a major crisis in Bangladesh.

Earlier on August 8, Nobel laureate Muhammad Yunus took oath as the head of Bangladesh’s interim government.

–IANS

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Search for missing migrants underway after boat capsizes in Serbia: Ministry

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Search for missing migrants underway after boat capsizes in Serbia: Ministry

Search for missing migrants underway after boat capsizes in Serbia: Ministry

Belgrade, Aug 22 (IANS) Serbian police are still searching for seven missing migrants in the Drina River after their boat capsized when crossing from Serbia to Bosnia and Herzegovina, Serbia’s Interior Ministry confirmed in a press release issued on Thursday.

According to testimonies of the migrants who managed to reach the shore, there were approximately 25 people on board. So far, police and rescue teams have found 18 individuals, including three children, on the riverbank, Xinhua news agency reported.

Serbian Deputy Prime Minister and Minister of the Interior Ivica Dacic said police and the Emergency Situations Sector responded promptly after being alerted by the Bosnian border authorities early Thursday morning.

An intensive search is underway in the Drina River and its surrounding area.

The European Border and Coast Guard Agency, Frontex, reported a significant decrease in illegal border crossings in the Western Balkans during the first half of 2024.

The illegal crossings towards EU borders reached 12,407 between January and July 2024, a 75 per cent drop compared to the same period last year.

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–IANS

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Islamabad sealed with containers amid threats of religious and political protests

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Islamabad sealed with containers amid threats of religious and political protests

Islamabad sealed with containers amid threats of religious and political protests

Islamabad, Aug 22 (IANS) Islamabad, the capital of Pakistan, turned into a fortress on Thursday with dozens of containers forcing closure of several roads with heavy deployment of law enforcement forces following the cancellation of a No-Objection Certificate (NOC) of an anti-government protest planned by Pakistan Tehreek-e-Insaf (PTI) and protest call by religious parties, including the Jamaat-e-Islami (JI), Jamiat Ulema-e-Islam (JUI) under the banner of Majlis-e-Tahaffuz-e-Khatme Nabuwwat against a Supreme Court decision in the Mubarak Sani case.

Anticipating widespread protests, the local administration, which had cancelled the NOC, imposed Section 144 in the city, barring assembly of people and also closed all educational institutions for the day.

Later in the day, the PTI announced its decision to postpone its protest rally and rescheduled it for September 8.

The government maintained that it did not want to take any chance considering the Supreme Court hearing and also the presence of Bangladeshi cricket team in the country which is currently touring Pakistan for a Test series.

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On Wednesday, the capital administration of Islamabad decided to cancel the NOC for PTI, less than 24 hours before the scheduled public gathering in Tarnol area. PTI had earlier announced that it would go ahead with its planned gathering even after its NOC was revoked.

“It is concerning that the government might try to exploit the rally to incite unrest and blame it on PTI. They are scared and are trying to find ways to orchestrate cases against us,” said senior PTI leader Azam Swati.

Imran Khan’s party has been struggling to hold a political gathering in the capital for the past five months with the local administration delaying grant of any permission to hold such an event. Even after a permission is granted, it ends up being revoked a few hours later.

The latest episode is the second time the capital administration has cancelled the NOC issued to PTI for holding a political gathering at Tarnol.

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The government maintains that it had detailed meeting with the Inspector General Police, Deputy Commissioner, senior officers from the Chief Commissioner’s office, officials of the Inter-Services Intelligence (ISI), Military Intelligence (MI) and Intelligence Bureau (IB) after which it was decided that there will be serious law and order concerns if the gathering is allowed.

On the other hand, several religious parties have also taken to the streets in Islamabad, protesting against the Supreme Court of Pakistan’s verdict in the Mubarak Sani case.

Tehreek-e-Khatam-e-Nabuwat, an umbrella name for different religious parties, has called for a protest in front of the Supreme Court after the July 24 Supreme Court verdict in the case, maintaining and ruling that while Ahmadis are declared non-Muslims, they retain the right to profess and proliferate their religion, provided they do not publicly use Muslim terms or introduce themselves as Muslims.

In February 2024, Mubarak Ahmed Sani, an Ahmadi, was accused of violating the Punjab Holy Quran (Printing and Recording) Amendment) Act 2021 by distributing the proscribed book ‘Tafseer-e-Sagheer’. However, the Supreme Court maintained that the alleged act occurred in 2019, before it was criminalised in 2021.

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The Supreme Court decision was widely criticized by the religious groups who demanded the federal and the Punjab government to challenge the decision and ensure punishment for Sani.

The Punjab government later filed a review petition in the Supreme Court while a petition was also filed by the Federal government on directions of the Prime Minister Shehbaz Sharif.

–IANS

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