Chad extended its state of emergency by six months around the Lake Chad area as the government combats terrorist organization Boko Haram, according to AFP. Militants grow desperate as their numbers weaken, but they maintain a persistent presence in the region. The war against Islamic radicalism has displaced many Chadians, while contributing to economic weakness.
Iran officially condemned the United States’ Supreme Court’s ruling earlier this month that would allow the families of victims of terrorism sponsored by Iran to collect monetary damages from the nearly $2 billion in frozen assets located in the United States. Taking it a step further, the Islamic Republic indicated that it would sue the U.S. government in the International Court of Justice (ICJ) at The Hague.
Economic analysts are beginning to call the real estate market a “panic” as home sales continue to fall but prices keep rising. New home sales fell by an annualized 511,000 units in March, the third straight month of declines. New home sales have not fallen for three weeks in a row since 2011.
The Mongolian People’s Revolutionary Party (MPRP) and the Mongolian People’s Party (MPP) severed a political alliance as negotiations over seating arrangements fell through, according to Channel NewsAsia. MPP aims to unite against incumbent Mongolian Democratic Party (MDP), as Prime Minister Chimed Saikhanbileg struggles to jumpstart an economy suffering from lower commodity prices and diminished foreign investment. According to recent polls, MPP is more popular than MDP, while MPRP takes third place.
The Chinese have been pushing hard to gain traction with their alternative to the World Bank, and the efforts appear to be paying dividends. Switzerland has become the 37th nation to join the newly created Asian Infrastructure Investment Bank (AIIB) as a “founding member.”
Much like the World Bank, headquartered in the United States, the Chinese-led AIIB will finance nations seeking to improve infrastructure and prevent poverty. The AIIB has a special interest in transport links and other large-scale construction projects, particularly in Asia.
Every corner of Europe is seeing renewed economic struggles that are fomenting political strife and revolutionary reforms.
In the United Kingdom, a Conservative government that once promised a referendum on EU citizenship is scrambling to convince its own populace to vote to remain in the UK. Foreign leaders, such as U.S. President Barack Obama, and economists, such as MIT’s Nobel-Prize-winner Paul Krugman, are urging Britain to vote to remain in the union, despite its flaws and weak economic growth.
The government has plastered images of Crown Prince Maha Vajiralongkorn throughout the public sphere, as the prince stands ready to succeed the throne when his father passes, according Channel NewsAsia.
King Bhumibol Adulyadej is a revered figure, but some leaders fear his death could cause further uncertainty as Thailand undergoes political and economic instability. The king has ruled since 1946 and remains in a hospital recovering from hydrocephalus, among other illnesses.
The World Bank and International Monetary Fund (IMF) have teamed up to address the issue of climate change. Their latest plan involves using economic leverage in harmony with the technical assistance of private organizations to effect changes that the United Nations simply cannot achieve on its own.
Nations around the world have begun to sign the Paris agreement on climate change. The Paris agreement was an initiative led by the United Nations by which the nations of the world are supposed to reduce their respective emissions of greenhouse gases.
Republic of Congo (ROC) President Denis Sassou Nguesso won re-election in 2016, but activists and political opponents have contested his legitimacy through the court system, and the government actively targets opposition members through violence and arrest, according to The Washington Post.
The State Bank of Pakistan (SBP) and the World Bank have announced plans to collaborate on a new electronic payment system designed specifically for use in Pakistan. SBP Executive Director Muhammad Ashraf Khan announced the collaboration Thursday.
