financial collapse – Page 3 – Desdemona Despair

A protester stands against a water cannon as police use tear gas to disperse demonstrators near President’s residence during a protest demanding the resignation of President Gotabaya Rajapaksa, amid the country’s economic crisis, in Colombo, Sri Lanka, 8 July 2022. Photo: Dinuka Liyanawatte / REUTERS

July 8, 2022

Sri Lanka police impose curfew, fire tear gas as unrest escalates – “We have seen the use of lethal weapons in protests”

By Uditha Jayasinghe 8 July 2022 COLOMBO (Reuters) – Police in Sri Lanka’s commercial capital Colombo imposed a curfew after firing tear gas and using a water cannon on student protesters on Friday ahead of a planned weekend rally, as public discontent escalates over the worst economic crisis in seven decades. The island nation has […]

Three-wheelers queue to buy petrol due to fuel shortage, amid the country's economic crisis, in Colombo, Sri Lanka, 5 July 2022. Dinuka Liyanawatte / REUTERS

July 8, 2022

World Bank calls for sovereign debt changes ahead of looming crises – “There are more Sri Lankas on the way”

By Marc Jones 28 June 2022 LONDON, June 28 (Reuters) – A senior official at the World Bank has ramped up its calls for changes in sovereign debt laws so governments have more control when crises strike and they have to restructure their debt. World Bank economists estimate that low- and middle-income economies owe a […]

Maps showing poverty impact hotspots as percentages of countries’ population that could fall into poverty as a result of soaring food and energy prices. Among those countries likely facing high poverty impacts across all poverty lines are Armenia and Uzbekistan in the Caspian Basin; Burkina Faso, Ghana, Kenya, Rwanda and Sudan in Sub-Saharan Africa; Haiti in Latin America; and Pakistan and Sri Lanka in South Asia. In these countries, around 3 percent of the population, on average, could fall into poverty. In Ethiopia, Mali, Nigeria, Sierra Leone, Tanzania and Yemen, the impacts could be particularly hard at the lowest poverty lines, whereas in Albania, Kyrgyz Republic, Moldova, Mongolia, Tajikistan, and Ukraine, the hits could be hardest at $5.50 a day.7 Clear geographical hotspots, depending on the poverty line, emerge in Sub-Saharan Africa, mainly in the Sahel region, the Balkans and the Caspian Basin. Graphic: UNDP

July 7, 2022

Cost-of-living crisis drives 71 million people into extreme poverty in three months – “This cost-of-living crisis is tipping millions of people into poverty and even starvation at breathtaking speed”

By Marc Jones 7 July 2022 LONDON (Reuters) – The global cost-of-living crisis is pushing an additional 71 million people in the world’s poorest countries into extreme poverty, a new report published by the U.N. Development Programme (UNDP) on Thursday has warned. Achim Steiner, UNDP administrator, said an analysis of 159 developing countries showed that […]

Prevalence of undernourishment (left axis) and number of undernourished people (right axis), 2005-2021. World hunger rose further in 2021, following a sharp upturn in 2020 in the midst of the COVID-19 pandemic. The persistence of the pandemic and its enduring consequences, which exacerbated existing inequalities, have contributed to further setbacks in 2021 toward achievement of the Zero Hunger target by 2030. Between 702 and 828 million people in the world faced hunger in 2021. Considering the middle of the projected range (768 million), hunger affected 46 million more people in 2021 compared to 2020, and a total of 150 million more people since 2019, before the COVID-19 pandemic. Graphic: FAO

July 6, 2022

UN report: World hunger rose again in 2021, with 2.3 billion people severely or moderately hungry – “This year’s report should dispel any lingering doubts that the world is moving backward in its efforts to end hunger”

By Edith M. Lederer 6 July 2022 UNITED NATIONS (AP) – World hunger rose in 2021, with around 2.3 billion people facing moderate or severe difficulty obtaining enough to eat — and that was before the Ukraine war, which has sparked increases in the cost of grain, fertilizer and energy, according to a U.N. report […]

Map showing spatial extent of heavy labor losses due to humid heat. Per capita heavy labor lost (a)–(c) and population-weighted heavy labor lost (d)–(f) for the Lancet Countdown method ('LCHCC', (a), (d)) and the laboratory exposure response to heat ('Laboratory', (b), (e)). Panels on right show the zonal median (c) and zonal sums (f) of heavy labor losses. Maps in the top row show mean h person−1 yr−1 lost due to background heat and humidity combined with internal heat generation in individuals conducting heavy labor. Maps in the bottom row display 'population-weighted' labor loss, which is defined as the product of the mean per-capita hours lost overlaid and the ILO heavy labor sector proportion of the working-age population (ages 15+) for 163 countries for which the data are available. Shading around zonal median (top right) and zonal sum (bottom right) lines outlines the range of zonal values for individual years. Graphic: Parsons, et al., 2022 / Environmental Research Letters

May 30, 2022

India’s savage heat exacts heaviest toll on outdoor workers – Humid heat causes 650 billion hours of annual lost labor globally, up at least 9 percent over four decades – “This is not just exhaustion or discomfort. It is actually killing people.”

By Anjana Pasricha 23 May 2022 NEW DELHI (VOA News) – Pradeep Kumar can earn nearly eight dollars a day selling the traditional Indian drink with cumin and lemon that he makes at his cart in a popular market in New Delhi — supposed to cool the body, the beverage has been much in demand […]

A protester in Sri Lanka hurls a tear-gas canister back at the police officers who fired it, 19 May 2022. Photo: Atul Loke / The New York Times

May 22, 2022

Sri Lanka is the first domino to fall in the face of a global debt crisis – Will Bangladesh be next? – “I’m deeply concerned about developing countries”

By Larry Elliott 9 May 2022 (The Guardian) – The departure of Sri Lanka’s prime minister, Mahinda Rajapaksa, follows weeks of protest and a deepening crisis. There is no bankruptcy system for states but if there was then the south Asian country – down to its last $50m (£40m) of reserves – would be first in […]

Protesters set a bus on fire during a demonstration outside the Sri Lankan president’s home in Colombo on 31 March 2022.Photo: Ishara S. Kodikara / AFP / Getty Images

May 11, 2022

Sri Lanka crisis: shoot-on-sight order issued as troops deployed in Colombo – Mobs burn more than 50 houses belonging to politicians – Ex-PM flees to naval base

By Hannah Ellis-Petersen 11 May 2022 (The Guardian) – Troops and armoured vehicles have been deployed across the city of Colombo and security officials given orders to shoot on sight anyone deemed to be participating in violence as anti-government protests continued to rock Sri Lanka. The crisis turned volatile earlier this week after pro-government supporters began attacking […]

SDG Indicator 16.1.1 Detected victims of intentional homicide, by sex (women) vs. SDG Indicator 1.5.1 Number of people affected by disaster. Research shows that violence against women and girls increases in the aftermath of disasters. At the extreme end of the scale, this takes the form of intentional homicides. Data: United Nations Department of Economic and Social Affairs analysis based on Global Sustainable Development Goal Indicators Database (UN DESA, 2021). Graphic: UNDRR

May 8, 2022

Humanity entering “spiral of self-destruction”, UN warns – “By deliberately ignoring risk and failing to integrate it in decision making, the world is effectively bankrolling its own destruction”

26 April 2022 (France 24) – Humanity is suffering from a “broken perception of risk”, spurring us into activities and behaviours that cause climate change and a surging number of disasters around the globe, the UN warned Tuesday. In a fresh report, the UN Office for Disaster Risk Reduction, or UNDRR, found that between 350 and […]

Climate change impacts on poverty by 2030 in Latin America and the Caribbean (LAC). Additional people living in extreme poverty as a percent of the total population, by country (left); additional people living in extreme poverty, by country (right). Climate change could drive millions of people in LAC back into extreme poverty. Graphic: World Bank

May 7, 2022

Climate disasters in Latin America threaten to drive six million into poverty in next decade

By David Callaway 26 April 2022 MANAGUA, Nicaragua (Callaway Climate Insights) – As Latin America prepares for another disastrous hurricane season, two major intergovernmental reports are pointing to the need for urgency in reversing years of climate-related disasters that have driven more people into poverty. A report by the World Bank this month said over the past […]

Prevalence of moderate or severe food insecurity in Africa in 2019 (left), and top eight wheat importers in Sub-Saharan Africa in 2020 (right). Challenges for food security in Sub-Saharan Africa will increase as Russia’s war on Ukraine persists. Graphic: IMF

May 7, 2022

Russia’s war on Ukraine dims global economic outlook as inflation accelerates – Africa faces new shock as war raises food and fuel costs – “This crisis unfolds even as the global economy has not yet fully recovered from the pandemic”

By Pierre-Olivier Gourinchas 19 April 2022 (IMF) – Global economic prospects have been severely set back, largely because of Russia’s invasion of Ukraine. This crisis unfolds even as the global economy has not yet fully recovered from the pandemic. Even before the war, inflation in many countries had been rising due to supply-demand imbalances and […]