The debt levels of the world's most economically vulnerable countries have reached alarming heights, the highest recorded since 2006. A recent World Bank report highlights that the 26 poorest nations, which collectively house about 40% of the global population, are now grappling with an average debt-to-GDP ratio of 72%. Countries such as Ukraine, Egypt, Argentina, Ecuador, and Pakistan are among those facing significant surcharges from the International Monetary Fund (IMF), as borrowing condit..
France Unveils Austerity Measures Amid Budget Crisis
The French government has introduced a stringent budget plan for 2025, targeting a deficit reduction through significant public spending cuts and tax hikes. Aiming to save 60 billion euros, the plan includes 2,200 job cuts predominantly in education and substantial reductions in the Ministry of Sports, justified by the end of the Olympic Games.
In a bid to mitigate the financial crunch, the plan proposes "exceptional and temporary" tax increases on the wealthy and large corporations. Furtherm..
Germany's Commitment to Israel Amidst Criticism
German Chancellor Olaf Scholz has reiterated Germany's commitment to supplying arms to Israel, affirming that the country has made decisions to ensure continued deliveries. Scholz's announcement came amidst criticism from CDU leader Friedrich Merz, who accused the government of delaying export licenses for ammunition and tank parts. Despite these allegations, Scholz assured that Germany, a key arms exporter to Israel after the United States, would maintain its support.
In the past year, Germa..
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