WASHINGTON—The World Bank on Friday announced $2.5 billion in additional grant financing from the U.S. Agency for International Development (USAID) to support Ukraine’s budget and maintain essential services. The latest financing under the World Bank’s Public Expenditures for Administrative Capacity Endurance in Ukraine(PEACE) project lifts the total to $20.6 billion and will support salaries in…
IMF Opposes Making Cryptocurrency Legal Tender
February 24, 2023
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Business & MarketsCBDCscryptocurrenciescryptocurrencyeconomic policieseconomyIMFInternationalMarketspersonal financeUSWorld
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The International Monetary Fund (IMF) recommended that cryptocurrencies like Bitcoin should not be legal tender, and issued an action plan to member states. The IMF released a nine-point action plan on Feb. 24 on how countries could suppress the popular use of crypto assets. On Feb. 8, the financial agency’s executive board provided guidance to IMF…
Blinken Calls on UN to Unite Behind Ukraine, Downplays China’s Peace Plan
U.S. Secretary of State Antony Blinken urged the international community to resist normalizing Russian President Vladimir Putin’s crimes in the ongoing war against Ukraine, while also downplaying Beijing’s proposal to end the conflict. Speaking at the United Nations Security Council on Friday—the anniversary of Russia’s invasion—Blinken stressed the need for member nations to uphold the…
6 Countries Vote Against UN Resolution Calling for Russia to Withdraw From Ukraine
Six nations joined Russia in voting against a resolution calling on Russian troops to immediately withdraw from Ukraine during a United Nations General Assembly on Feb. 23. Belarus, a close ally of Russia, along with North Korea, Syria, Eritrea, Mali, and Nicaragua, all joined Russia in opposing the declaration on the eve of the first anniversary…
Academics Argue for World War II-Style Rationing of Food and Fuel to Fight ‘Climate Change’
Academics are arguing that World War II-style rationing could help fight climate change by slashing greenhouse gas emissions more rapidly and fairly. In a paper (pdf) published on Feb. 20 in the journal “Ethics, Policy & Environment,” researchers from the University of Leeds in England argue that carbon rationing has been “neglected as a policy option for mitigating…
US Unveils New Sanctions, Tariffs on Russia on Ukraine War Anniversary
February 24, 2023
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Asia & PacificChinaChina Business & EconomyeconomyEuropeInternationalNational SecurityRussiaRussia-Ukraine WarsanctionstariffsUSUS NewsWorld
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The United States has announced sweeping new sanctions on Russia and its partners on the first anniversary of the invasion of Ukraine. The Biden administration said on Feb. 24 that it would implement increased tariffs and export controls against critical Russian sectors in order to break the regime’s ability to continue its war of conquest…
Making Money Is Good for Customers, Workers: CEO Stands by Airline’s Billion-Dollar Profit
February 24, 2023
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Qantas’ billion-dollar profit will allow the airline to invest in new aircraft, upgrade its customer lounge, and deliver bonuses to employees, explained CEO Alan Joyce. Australia’s flag carrier delivered a $1 billion (US$680 million) net profit for the six months to Dec. 31, following a $456 million net loss a year earlier, as well as…
US Urges All Governments to Respect Religious Freedom After European Court Rules in Favor of Falun Gong in Russia
February 23, 2023
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Asia & PacificChinaEuropeEurope-China RelationsFalun GongFalun Gong Newshuman rightsInternationalInternational Relationsreligious freedomSpecial TopicsUSUS NewsUS-China relationsWorld
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The State Department is urging all governments to respect religious freedom after Europe’s international human rights court ruled Russia’s ban on Falun Gong materials is illegal. “More broadly, we strongly oppose laws that impede freedom of expression and freedom of religion—rights protected in the Universal Declaration of Human Rights and the International Covenant on Civil…
Twitter, TikTok, Google Face Questions Over Child Abuse Material
February 23, 2023
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Twitter, TikTok, and Google have been issued legal notices from Australia’s eSafety commissioner requiring them to explain what they are doing to tackle online child sexual abuse. “The creation, dissemination and viewing of online child sexual abuse inflicts incalculable trauma and ruins lives. It is also illegal,” eSafety Commissioner Julie Inman Grant said. “It is…
US Deems Australia in the ‘Frontline’ of Tension With Beijing: Former Ambassador
February 23, 2023
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The current threat of attack against Australia has reached a point where U.S. authorities are treating it as the “frontline” of competition with the Chinese Communist Party (CCP), says former Australian Ambassador to the U.S. Kim Beazley. The former Labor Party and opposition leader said that the previous timeframe for a potential attack on Australia had…
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