Assessing Nigerian banks’ non-performing loans

As COVID-19 continues to harm economies globally, it's the developing and emerging economies that are suffering most says the lender's Franziska Lieselotte Ohnsorg.

On June 24, 2021, Palestinian political activist Nizar Banat died after being violently beaten by Palestinian security forces. Banat was a fierce critic of corruption in the Palestinian Authority. His killing had an immediate effect: Thousands took to the streets in the Palestinian Territories to protest against the ruling Fatah party and Palestinian Authority President Mahmoud Abbas.

Developing economies were hit hardest by the global economic recession brought by the pandemic. A looming debt crisis could make things much worse, according to a new report.

The United States Federal Reserve has raised interest rates for the first time since 2018, as it tries to cool inflation, which is running at the highest level in 40 years. The Chair of the central bank, Jerome Powell, said the implications of the Russian invasion were "highly uncertain", pointing to the risk of disruption to supply chains. Also today, we look at details of the French government's plan to ease the economic impact of the war in Ukraine.

The French bank BNP Paribas has told its customers it will no longer process transactions in Russia after the end of March, as it halts all new projects in the country. BNP's Russian business is relatively small - with €1.3 billion of exposure to the market - but the move is symbolic as other lenders consider their position in the country. Also today, we hear from the Ukrainian farmers who are continuing to work the land amid fears for food production due to the war.

A decree signed by Russian President Vladimir Putin stipulates that Western countries must start paying for gas through a Russian bank that will transfer foreign currency into rubles.

A decree signed by Russian President Vladimir Putin stipulates that Western countries must start paying for gas through a Russian bank that will transfer foreign currency into rubles.

Following days of protests over soaring prices and fuel shortages, Sri Lanka's cabinet ministers have resigned en masse. The head of the central bank has also stepped down. We take a look at how the heavily indebted country got to this stage. Plus, our correspondents report on how Niger could be facing its worst food crisis in a decade, amid global food and energy shortages worsened by the war in Ukraine.

Find these stories and much more when you grab a copy of The Guardian on Thursday.⁣

Tensions between Israelis and Palestinians have been running high in recent days. Israeli forces have carried out fresh raids in the West Bank after a spate of recent deadly attacks.

Gunmen have killed an Israeli guard at a West Bank settlement, prompting several arrests by Israeli security forces. Al-Aqsa Martyrs Brigade has claimed responsibility for the attack.

It is the fourth month in a row the central bank's Monetary Policy Committee has voted for a rise. Policymakers are currently trying to stem inflation amid high energy prices sparked partly by Russia's war in Ukraine.