insert_link World Development aid cuts will hit fragile countries hard, could fuel violent conflict Patricia Justino, United Nations University and Laura Saavedra-Lux, United Nations University Fragile and least developed countries have had their development assistance cut drastically, according to the Organisation for Economic Co-operation and Development. For instance, net official development assistance to sub-Saharan African countries has shrunk by 7.8% compared to 2021. And development aid for peace and conflict prevention has declined to its lowest in 15 years. These cuts will hit fragile […] todayNovember 17, 2023 8
insert_link Business / Economics Oil prices soar as producers unveil shock output cut Oil prices soared Monday after top producers unveiled a shock output cut of more than a million barrels per day, while equities mostly rose after data showed US and European inflation eased further last month. However, the decision by the OPEC+ cartel fanned concerns about a fresh spike in prices that could put pressure on central banks to push interest rates higher. Both main crude contracts jumped around eight percent […] todayApril 3, 2023 2
insert_link Africa ‘It hurts’: DR Congo currency drops amid war spending, arrears payments By Emmet Livingstone A falling local currency, salary arrears payments and war spending have pushed up prices in impoverished Democratic Republic of Congo, leaving locals struggling to afford basics. Since the new year, the Congolese franc has depreciated about 15 percent against the US dollar, according to official figures and money changers, hitting the poorest hardest. Several people interviewed by AFP said that in some cases prices had risen much […] todayApril 3, 2023 4
