Feel charitable: Pfizer will provide patents to a nonprofit foundation for new and existing drugs and vaccines in the U. S. The US or EU to forty-five low-income countries. Rwanda, Ghana, Malawi, Senegal and Uganda are the first to sign for the “Agreement for a Healthier World”, announced at the annual assembly of the World Economic Forum in Davos. The agreement recently includes 23 drugs and vaccines that treat infectious diseases, some types of cancer, as well as rare and inflammatory diseases. This is a welcome decision, however, it is more of a “bandage on a gunshot wound” solution than a systemic solution. It also raises questions about Pfizer’s long-standing efforts to undermine generic drug production, especially in middle-income countries. Meanwhile, Moderna CEO Stéphane Bancel, whose net worth is estimated at $4. 6 billion: announced he would donate inventory items recently valued at $355 million to charities. .
Don’t do it to me: Amid emerging cases of COVID-19 in nearly 70 countries, WHO Director-General Tedros Adhanom Ghebreyesus warned that the pandemic “is certainly not over. “70% of WHO is consistent with the immunization target of one hundred. COVID-19 vaccination rates are below 13% in low-income countries, in part due to government policies and decisions that UNAIDS Executive Director Winnie Byanyima has called “racist”.
WHO News: This week, WHO member countries agreed to change WHO’s investment style for the organization’s stability and independence. It will gradually increase countries’ contributions to 50% of WHO’s core budget until 2030-31, up from 16% in 2020-21 Meanwhile, African countries rejected a US-led proposal at this week’s 75th World Health Assembly. The U. S. Department of Health on aspects of the International Health Regulations to improve global physical security. They argue that the proposed reforms deserve to be considered as part of a long-term. “holistic package. “
At an all-time high: Nigeria’s central bank raised interest rates to 13% due to inflation, which reached nearly 17% in April. Loans for progressive financing will remain at 5% until 2023. The move comes after the U. S. Federal Reserve has come after the U. S. Federal Reserve has taken a step toward the U. S. Federal Reserve. The U. S. raised its interest rate by an earlier 0. 5% this month, which is expected to cause a ripple effect around the world. Since then, rates have risen in major economies, adding the UK, Australia and several Gulf states. The Governor of the Central Bank of Nigeria has lowered Nigeria’s rates. expansion projections for 2022 from 4. 2% to 3. 25%.
For whom the alarm sounds: the 10% of the most threatening emerging countries rated as “junk” may suffer a debt crisis this year, due to emerging loan prices and the war in Ukraine, JPMorgan analysts warn. Three African countries – Ethiopia, Rwanda and Senegal – may delight in a depletion of reserves until the end of next year, indicating a major threat of non-compliance. A record 27 emerging market countries, numbering 10 in Africa, have Eurobond yields above 10%, an indication of the highest borrowing prices. that these governments face, a bad omen. Twenty-three African countries are in a scenario of over-indebtedness or exposed to a major threat of over-indebtedness. The African Union calls for the creation of a pan-African credit agency.
Drowning under debt: Zambia’s debt service payments are expected to more than triple by 2022 from pre-pandemic levels. and Zambia) with any form of debt relief. In 2019, Zambia spent almost twice as much on debt service payments as it did on health care. Without debt relief and restructuring, higher debt service payments will continue to absorb resources that are important to spur recovery from the pandemic. A recent law introduced in New York would require personal creditors to participate in the G20 and other aid processes abroad. ?
Glencore’s guilty: Two subsidiaries of Glencore, a multinational commodity mining and trading company, pleaded guilty to a years-long corruption crusade in seven countries, and five were added in Africa. Between 2007 and 2018, Glencore and its subsidiaries paid more than $100 million “to offload undue profits for the purpose of offloading and retaining business” in Cameroon, DRC, Côte d’Ivoire, Equatorial Guinea and Nigeria, according to a U. S. Department of Justice report. The case and a separate value manipulation scheme. Glencore, a major player in the oil and mining sectors of many African countries, owes a third of Chad’s $3 billion in external debt, most of which comes from oil-for-cash deals.
Food chain: The United Nations General Assembly followed a solution to the developing foreign food crisis, urging the G7 and G20 countries to prioritize food security and prevent hoarding of food and commodities. total contributions to $2. 6 billion since the beginning of the war in Ukraine. The African Development Bank has approved $1. 5 billion for an emergency food production facility for 20 million African smallholder farmers. Taking a different approach, the UK halved its humanitarian aid “at the worst time in history”.
Resuming tourism: Tanzania’s tourism sector, which experienced a nearly 60% decline in income, visitors and jobs at the start of the pandemic, is recovering. The sector created 100,000 more jobs in 2021 than in 2020,300,000 in 2020 after a stable three-year increase. Last year’s expansion into one of the country’s main economic sectors provides hope that the country can get back on track to achieve its Sustainable Development Goals.
“Pharmaceutical corporations that refused to share the percentage of their generation told Africans that the vaccine was too confusing for Africans to manufacture, which is why they didn’t. Isn’t that racism?”
— Winnie Byanyima, Director of UNAIDS.
A new one explores how racism manifests itself in peacebuilding processes. (All Africa)
G20 ministers will meet at the Ministerial Meeting on Climate Action in Canada on 30-31 May, where they will address the accelerated update needed over the next 30 years to tackle the climate update.
Stockholm 50 will take a position on 2 and 3 June, with cooperation and the strengthening of multilateralism on the agenda.
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