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Russia's war on Ukraine has wreaked havoc on global commodity markets, driving up energy and food prices and exacerbating hunger emergencies around the world.
As hunger threatens millions, the Biden administration should give its OK for the IMF to distribute financial backing to the world’s poorest countries. By Mark Weisbrot.
Western governments should “compel” private lenders to ease loan repayments from low-income countries to tackle a debt crisis, according to campaigners.
A climate debt is owed. It is owed by the richest countries, whose carbon emissions—through centuries of industrialisation made possible by colonial extraction—have been the principal cause of the climate crisis.
The Covid-19 pandemic has led to a “tragic reversal” in development and pushed debt in poor countries to record levels, the head of the World Bank has said.
