International

African Countries Suffering Debt Hangovers – Macron, UN

Published

3 years ago

June 23, 2023

African Countries Suffering Debt Hangovers – Macron, UN

The United Nations Secretary General, Antonio Guterres and French President Emmanuel Macron, on Thursday, said African countries are facing challenges that hinder growth and development as a result of debt hangovers.

They spoke at the opening ceremony of the High-Level Summit for New Global Financing Pact in Paris-France.

President Bola Ahmed Tinubu joined world leaders at the summit on the consensus for redesigning the global financial architecture, which will favour poverty reduction, debt restructuring or cancellation and more consideration for vulnerable countries affected by climate change and COVID-19.

The president, who was at Palais Brongniart, venue of the event, was received by the French Minister of Europe and Foreign Affairs, Catherine Colonna.

Macron, while welcoming the world leaders to Paris, said the summit would focus on drawing up a new financial order that would scale up finances and support developing countries for energy transition, poverty reduction, while respecting the sovereignty of each nation.

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The French president, in a statement by the Special Adviser to the President on Special Duties, Communications and Strategy, Dele Alake, said African countries had been at the receiving end of the major global challenges, with debt hangovers that hamper growth and development.

“COVID-19 pandemic brought lots of difficulties and now we are faced with the war in Ukraine that has been draining resources that should be channelled into human development,” he said.

Macron told the leaders from 50 countries, multilateral institutions and the private sector that justice and fairness must be imperative in redesigning the new world financial architecture, with more focus on the most vulnerable.

The French president listed four elements for consideration by the leaders, starting with an acknowledgement that reducing poverty would require collective efforts, with a more diverse and comprehensive framework.

“We must admit that no country can succeed alone in reducing poverty and protecting the planet,” he added.

Macron said the framework should be relevant to each country, and sub-regional roles included, with clear responsibilities and benefits, while multilateral institutions like the International Monetary Fund and World Bank must be re-engineered to be more people and solutions driven.

The French president noted that the private sector must be carried along in the new pact that seeks to harmonise growth, as they control most of the financial instruments that need to be liquefied for more even development, especially on health, education and food security.

On behalf of the African countries, the President of Niger Republic, Mohammed Bazoum, said the new pact must be “urgent” and “essential” to Africa, and the framework should be “just” and “robust” in reflecting the reality of developing countries as partners.

Bazoum said the challenges of impoverishment and desertification had stimulated unrest in most countries, affecting peace and stability in sub-regions and the continent.

“In Africa, we need support for infrastructure, health, food security and education,” he stated.

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Guterres, in his own remarks, told the gathering of leaders that the high-level summit would need more mobilisation and political will for redesign and implementation.

The UN scribe said many countries were still struggling from effects of COVID-19 and climate change, and the war in Ukraine had heightened sufferings.

Guterres said some African countries had been unable to service their debts, with indications that generations might be affected.

“African countries,” he said, “were not properly captured in the global order.”

He said the new global financial pact must address fragmentations and frustrations, and enable the kind of change that encourages debt relief, suspension of repayments, change of business models and more commitment from development banks, with guarantees.

The UN scribe said leaders must look beyond reforms, and accept the need for transformation.

“We are at a moment of truth and reckoning, and we can make it a moment of hope,” Guterres said. Climate activist, Vanessa Nakate, from Uganda, who called for a moment of silence for the helpless and hopeless across the world, said broken promises cost the lives of many in developing nations.

The presidents and leaders of multilateral institutions and the private sector at the summit went into syndicate sessions to discuss the new financial architecture.

President Tinubu will today (Friday) participate at the summit, which will unveil a New Global Financing Pact and mechanism for implementation.

Related Topics:African Featured Macron UN

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International

Iran Crisis Escalates as Second US Warplane Crashes in Persian Gulf

Published

26 minutes ago

April 4, 2026

Trends Admin

Iran Crisis Escalates as Second US Warplane Crashes in Persian Gulf

The already fragile security situation in the Middle East has taken a dramatic turn following reports that a second U.S. military aircraft has crashed in the Persian Gulf, intensifying tensions between the United States and Iran.

According to U.S. officials cited by The New York Times, a U.S. Air Force A-10 Thunderbolt II, widely known as the Warthog, went down near the Strait of Hormuz. The pilot was successfully rescued, but the exact cause of the crash remains unclear, with early indications suggesting a combination of operational risk and possible hostile engagement.

The incident occurred almost simultaneously with reports that an F-15E Strike Eagle fighter jet was shot down over Iranian territory. Iranian state media claimed responsibility, stating that its air defence systems intercepted the aircraft. U.S. officials have confirmed the loss of the jet, though investigations into the precise circumstances are ongoing.

Rescue operations for the downed F-15E crew are still underway. One crew member has been recovered alive and is receiving medical care, while search efforts continue for the second. The operation has drawn significant military resources, including air and naval support, amid concerns over the safety of personnel operating in hostile territory.

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Iranian state television further escalated tensions by urging civilians to report the whereabouts of the missing U.S. crew member or members, offering a reward for information. Analysts warn that such actions could complicate rescue missions and heighten the risk of further confrontation.

The A-10 aircraft is believed to have been operating in support of these rescue efforts when it crashed, underscoring the опасность of ongoing operations in the region. Reports indicate that U.S. rescue teams have encountered hostile conditions, including potential ground fire, making recovery efforts increasingly challenging.

U.S. President Donald Trump has intensified rhetoric amid the crisis, confirming earlier strikes on Iranian infrastructure, including a highway bridge near Tehran. He warned that Washington is prepared to escalate military action if necessary, while claiming that U.S. operations have significantly weakened Iran’s military capabilities.

The developments have placed renewed focus on the strategic importance of the Strait of Hormuz, a vital global oil transit route through which a significant portion of the world’s energy supply passes. Any disruption to this corridor could trigger major economic последствия, including spikes in global oil prices.

At the same time, the crisis unfolds against the backdrop of a proposed $1.5 trillion U.S. defence budget for fiscal year 2027, fueling debate over increased military spending and its implications for domestic priorities.

Diplomatic efforts to de-escalate tensions appear to have stalled. Iranian officials have dismissed the possibility of negotiations under current conditions, denying reports that Tehran is seeking a ceasefire and maintaining a hardline stance against Washington.

The near-simultaneous loss of two U.S. military aircraft marks a significant escalation in the conflict, raising concerns about a potential broader regional confrontation if tensions continue to rise.

Iran Crisis Escalates as Second US Warplane Crashes in Persian Gulf

International

Iran’s IRGC Threatens Google, Microsoft, Apple as ‘Legitimate Military Targets’

Published

16 hours ago

April 3, 2026

Trends Admin

Iran’s Islamic Revolutionary Guard Corps (IRGC)

Iran’s IRGC Threatens Google, Microsoft, Apple as ‘Legitimate Military Targets’

Iran’s Islamic Revolutionary Guard Corps (IRGC) has issued a stark warning to major US technology companies, declaring them legitimate military targets amid intensifying conflict in the Middle East.

The warning, carried by the IRGC-linked Tasnim News Agency, named around 20 American and Western tech firms allegedly involved in intelligence, surveillance, and targeting operations. Companies highlighted include Google, Microsoft, Apple, Meta, Boeing, HP, and Tesla. The IRGC claimed these firms play a central role in identifying and tracking targets through artificial intelligence, cloud infrastructure, and ICT systems, making their facilities subject to attack.

The statement warned that attacks could begin from 8 p.m. local time on Wednesday if Iran continues to experience what Tehran describes as “targeted assassinations” of its leaders and military personnel. Employees and civilians near company offices and data centres were urged to evacuate immediately.

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The threats follow a dramatic escalation in hostilities between Iran and Israel, with the Israel Defense Forces (IDF) reporting more than 230 airstrikes in 24 hours, targeting Iranian military infrastructure. Tehran has accused Israel and the US of also hitting civilian and academic institutions, including Isfahan University of Technology and the Iran University of Science and Technology.

Analysts warn the IRGC’s threats signal a widening battlefield beyond traditional military targets, potentially including commercial tech infrastructure, cloud systems, and communications networks. Such attacks could disrupt internet connectivity, cloud services, financial systems, and regional communications across the Middle East and beyond.

While no confirmed large-scale attacks on these firms have occurred, the announcement raises concerns over the global implications of targeting technology infrastructure in modern conflicts. Experts say such threats highlight how digital and commercial assets are increasingly considered strategic military targets.

Tech companies named in the warning have largely refrained from commenting publicly but are reportedly reviewing security measures and contingency plans to protect staff and critical infrastructure in the region.

The IRGC’s declaration marks a new phase of geopolitical escalation, demonstrating the growing intersection of technology, military operations, and regional instability in the Middle East.

Iran’s IRGC Threatens Google, Microsoft, Apple as ‘Legitimate Military Targets’

International

Iran Announces ‘Bounty’ on US Pilots After Claiming Downing of Fighter Jet

Published

17 hours ago

April 3, 2026

Trends Admin

Iran Announces ‘Bounty’ on US Pilots After Claiming Downing of Fighter Jet

Tensions in the Middle East have sharply intensified after Iran reportedly placed a bounty on US pilots following claims that it shot down a United States fighter jet over its territory.

Iranian state-linked media outlets said the aircraft was brought down during ongoing hostilities, with reports indicating that at least one pilot ejected before the jet crashed. Images circulating on Iranian platforms allegedly show wreckage of the US warplane, although independent analysts say the visuals remain inconclusive.

In a controversial move, a regional television station in Kohkilouyeh and Boyer-Ahmad province reportedly urged civilians to capture and hand over any American pilots alive in exchange for financial rewards—effectively declaring a “bounty” on US pilots.

However, the United States has not confirmed that any of its aircraft was downed, and no official statement has been issued by Washington regarding the claims. Past incidents have shown that similar announcements by Iranian media were later disputed or unverified, raising doubts about the latest development.

Meanwhile, reports indicate that US search-and-rescue operations may already be underway. Black Hawk helicopters were allegedly seen over Iranian airspace as part of efforts to locate two missing pilots, though this has not been independently confirmed.

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The situation comes amid a broader escalation in the region. Recent US airstrikes in Iran reportedly hit critical infrastructure, including a major bridge, leaving casualties and triggering further retaliation.

In response, Iran has intensified its military actions across the region. A fire outbreak at Kuwait’s Mina al-Ahmadi refinery has been linked to Iranian operations, while Iranian drones were intercepted in Bahrain and Saudi Arabia. At the same time, Israel launched retaliatory strikes targeting key locations in Tehran and Isfahan.

Adding to the tension, US President Donald Trump issued a strong warning, stating that the United States “hasn’t even started destroying what’s left in Iran” and threatening further strikes on strategic infrastructure, including power plants and bridges.

Despite these developments, the full details surrounding the alleged downing of the US jet and the fate of the pilots remain uncertain and unverified. Analysts warn that if confirmed, the incident could mark a major turning point in the conflict between both nations.