A leading lender shaping development policy and funding for poor nations.
A new ILO convention extends protections to platform workers, with 406 members voting in favour and eight against. The pact requires minimum wages, sick leave, social security, and transparency on algorithmic decisions. The move is echoed by government discussions on updating employment rights and addressing zero‑hours contracts.
The US‑Israel war on Iran has pushed energy, fertilizer and transport costs higher and forced global agencies to cut growth forecasts. The OECD and other groups have reduced 2026 growth projections, UNICEF has reported soaring freight bills and delivery delays, and US consumer sentiment has ticked up slightly as gas prices ease (15 June 2026).
Multiple African countries are advancing water access initiatives, focusing on gender equality and infrastructure. However, ongoing conflicts, climate stress, and funding cuts continue to hinder progress, especially in healthcare and rural areas. Recent reports highlight the urgent need for increased investment and policy action to address water insecurity and its gendered impacts.
The ongoing conflict in the Middle East has led to significant economic and military costs. The US has spent over $22 billion on operations, while Arab economies face losses up to $194 billion, with millions at risk of increased poverty and unemployment. The situation remains highly volatile as the war continues.
International financial institutions have announced a coordinated effort to address the economic fallout from the ongoing war in the Middle East. The conflict has disrupted regional energy supplies, caused supply shortages, and heightened risks to the global economy. The response includes financial aid, policy advice, and support for affected countries.
The IMF has revised its global growth forecast for 2026 downward to 3.1%, citing the impact of the Iran war. Higher energy prices and supply disruptions are driving inflation and slowing economic progress worldwide, especially in emerging markets and developing countries. The outlook remains uncertain.
As global energy tensions rise, Liberia faces inflationary pressures and policy responses examined in a World Bank engagement linked to the ARREST Agenda. Officials warn of sustained macroeconomic risks from rising fuel costs and oil-market disruptions.
The US Treasury has extended a 30-day waiver allowing the purchase of Russian oil loaded onto ships by April 24, aiming to stabilize global energy markets amid the US-Israeli war on Iran and the closure of the Strait of Hormuz. Meanwhile, the US has ended the waiver for Iranian oil, enforcing a blockade that will force Iran to shutter production soon.
Lebanese officials have reaffirmed their commitment to reaching an IMF agreement despite ongoing conflict and recent Israeli strikes. Damages from the war are estimated at $7 billion, delaying economic reforms. International support remains crucial for Lebanon's recovery, with damage assessments underway as ceasefire efforts continue.
A Colombia‑ and Netherlands‑hosted summit in Santa Marta has convened more than 50 countries (April 24–29) to open political debate on phasing out oil, gas and coal. Organisers are focusing on renewable energy, energy security and finance while major producers such as Saudi Arabia and some large economies are not attending.
Parliament has passed the Protection of Sovereignty Bill after amendments, with Museveni approving the measure. The law tightens controls on foreign-funded actors, introduces penalties, and aims to shield policy autonomy. Critics warn it risks suppressing civil society, media, and dissent while supporters say it defends national sovereignty.
MSF reports that Israeli authorities have systematically destroyed nearly 90% of Gaza's water and sanitation infrastructure, obstructing access and causing inhumane living conditions. Despite a ceasefire, violence continues, and water scarcity worsens, threatening civilian health and survival.
The Middle East conflict has pushed up fuel, fertiliser and packaging costs, feeding higher food prices globally. Retailers warn inflation is likely to continue if the war persists, while farmers face rising input costs and potential production cuts.
Ukraine faces a sustained daytime barrage as hundreds of drones and dozens of missiles hit Kyiv and other regions. Kyiv's air defences are under renewed strain while rescue services search for survivors and authorities warn of disrupted infrastructure.
G7 finance ministers and central bank governors have been meeting in Paris to address the economic fallout from the Iran war and volatility in bond markets. While they have reaffirmed a multilateral approach and support for Ukraine, tensions persist between the United States and other members over Iran, Russia, and energy supplies. The meetings set the stage for Evian summit discussions on critical minerals, global imbalances, and energy transit.
Since January, the US‑led Board of Peace for Gaza has received pledges totalling billions but has had virtually no funds transferred into its World Bank‑administered account; donors are instead routing money into a JPMorgan account with limited transparency, and only a small share of pledged aid has reached Gaza as fighting and political disputes continue. (28 May 2026)
Fertiliser prices have surged globally amid the Iran conflict, prompting Senegalese farmers to shift from chemical fertilisers to organic compost and manure. Governments are weighing temporary measures to curb costs while experts warn on food security and climate benefits of sustainable alternatives.
A widening electricity crisis has intensified in Aden and Hadramut, with 20-hour outages, rising fuel costs, and protests. Saudi aid has begun arriving to stabilize power, while Hadramut faces a sharp diesel price increase that threatens farming, fishing, and transport. Authorities say relief will improve outages, but experts warn structural issues persist.
Kenya has withdrawn its tariff review application, with government saying the move protects households and businesses from cost escalation while safeguarding growth, jobs and industrial competitiveness. The Energy and Petroleum Ministry confirms that tariff decisions will follow the Energy Act 2019 processes, including EPRA evaluations and public participation; current tariffs remain in force.
Leaders of seven major economies gather in Evian-les-Bains amid divisions over Iran, Ukraine, and economic imbalances. While a deal to end the Iran war is anticipated, consensus remains elusive as European allies push for firmer action and U.S. position under Trump remains uncertain.
The World Bank has cut its 2026 global growth forecast to 2.5% and has warned growth could fall to 1.3% if disruptions to oil and fertiliser flows from the Middle East persist. Rising energy and food costs are pushing inflation higher and hitting developing countries hardest, while the bank is offering up to $100bn in support.
The Strait of Hormuz remains a focal point as multiple sources indicate shifting dynamics in Gulf oil flows. Analysts say international pressure, sanctions, and ongoing fighting shape when and how Gulf oil will move, with some shipments reappearing while overall volumes stay depressed. The pace of mine clearance, lane re-opening, and fleet re-mobilization will determine when prewar flows resume.
South Africa faces a wave of xenophobic attacks linked to anti-immigrant sentiment, with President Ramaphosa urging practical solutions and a calm approach as protests and reprisals affect migrants and local communities.