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The upcoming US presidential election is poised to significantly impact the multilateral system, particularly the UN, where American influence has waned. Both candidates, Trump and Harris, have not prioritized multilateralism, with Trump likely to continue his previous cuts to UN funding and Harris expected to maintain Biden's cautious approach. This trend raises concerns about the UN's effectiveness and the potential for non-Western powers, like China, to fill the void left by the US.
Sovereign debt poses a significant risk to global growth in 2025, particularly for low-income countries and emerging economies lacking fiscal buffers, according to Saudi Finance Minister Mohammed Al-Jadaan. With global public debt reaching a record $97 trillion, urgent reforms are needed, especially as many African nations face soaring debt-to-GDP ratios and costly debt servicing that surpasses spending on health, education, and climate action. Al-Jadaan emphasized the necessity for global leaders to collaboratively address these challenges to prevent economic shocks.
At the BRICS leaders' summit in Kazan, Prime Minister Narendra Modi emphasized that the group should not be seen as an anti-Western bloc. He urged members to focus on reforming global institutions like the United Nations Security Council rather than positioning BRICS as a rival to existing global frameworks.
Ireland's government plans to introduce a bill to restrict trade with Israeli settlements in the occupied Palestinian territories, following a UN court ruling that deemed Israel's occupation illegal. The Occupied Territories Bill, initially proposed in 2018, will be reviewed to align with EU law and Ireland's constitution. With an upcoming election, the coalition government, which supports the bill, faces pressure from opposition parties advocating for a trade ban.
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09:00 04.11.2024
sovereign debt poses significant risk to global growth in 2025
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08:19 31.10.2024
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Ireland moves to restrict trade with Israeli settlements in occupied territories
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19:38 22.10.2024
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