Inflation, exiting fossil fuels & navigating politics: The challenges facing the EBRD
05 February 2022 | 6:04 am
For more than 30 years, the European Bank for Reconstruction and Development (EBRD) has been investing in countries in Central and Eastern Europe. It's since expanded into the Middle East, Central Asia and North Africa and has plans to move into Sub-Saharan Africa too. The EBRD's President Odile Renaud-Basso discussed some of the challenges facing the development lender, including climate finance, transitioning away from fossil fuels and the Bank's pro-democracy mandate.
23 Oct 2021
In Turkey, young people recently expressed their frustration with the authorities when students protested an ongoing spike in housing prices. This protest movement reflects the growing difficulties of the general population amid sky-high living costs, even as the government refuses to acknowledge the economic crisis. Our Istanbul correspondents Ludovic de Foucaud, Hussein Asad and Shona Bhattacharyya report.
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The US consumer price index rose at an annual rate of 6.2 percent in October, its biggest jump since 1990. Also, amid the country's tight labour market, Starbucks workers hope to form the first-ever unions at the company's US branches. Finally, Tesla CEO Elon Musk sells $5 billion in company shares.
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Pakistan is witnessing an unprecedented economic turmoil, with the inflation rate rising exponentially. DW spoke to some locals who say it has become impossible for them to make ends meet.
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After years in hiding, Seif al-Islam, the son of former dictator Moammar Gadhafi, will run for president in upcoming Libyan elections. Experts believe his return complicates things even further in the unstable nation.
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Inflation is continuing to soar in advanced economies around the world. In the UK, the consumer price index rose by 4.2 percent in October, the highest in a decade, while the eurozone's inflation rate hit a 13-year high. Also in the show: the EU proposes new rules to combat deforestation, and thousands of Chinese millennials seek a new life on rural farms.
France's popular, government-regulated tax-free savings account scheme, known as the "Livret A", is likely to raise interest rates in February after recording the biggest deposit outflow since 2014.
The omicron variant of Covid-19 has added a fresh layer of uncertainty to global stock markets. Rabobank's Senior Market Strategist Christian Lawrence talks us through the latest volatility, and what he expects from central banks in the coming weeks. Also in the show: India's coal mines could hamper the country's efforts to reduce carbon emissions.
The Federal Reserve is paving the way for possible interest rate hikes next year, in an effort to contain stubbornly high inflation. At the conclusion of a two-day policy meeting Wednesday, the central bank announced plans to phase out its large-scale bond-buying program faster than initially planned. The Fed started purchasing bonds during the pandemic as a way to keep borrowing costs across the economy low and to prevent any market disruptions.
Amid a global pandemic that’s threatening lives and livelihoods, politics instead seem infused with culture clashes and identity wars. Why is so much of the conversation in the run-up to France’s presidential election about outsourced industry and loss of identity? Where’s the left? In uncertain times, when citizens want a state that protects them, many arguments center around which side is more elitist. Are we looking at a breakdown of the social contract?
2021 brought big changes to households and businesses around the world. In the last show of the season, Stephen Carroll and Kate Moody take a look at some of the biggest business and economic stories of the year and how they might evolve in 2022.
Inflation in Turkey has soared to its highest level in nearly two decades. Despite the 36% surge in consumer prices, President Recep Tayyip Erdogan has defended his unorthodox economic vision. France 24 Correspondent Jasper Mortimer has the latest from Ankara. Also in the show - the French government expands emergency support for businesses affected by the pandemic, and Apple becomes the first US company to be worth $3 trillion.
Turkey's President Recep Tayyip Erdogan is defying the standard prescriptions for inflation – the country's worst in nearly two decades – by burning through currency reserves and central bank governors to keep interest rates low. As those reserves dwindle and lines lengthen at subsidised bakeries, we ask our guests about the impact on ordinary citizens and why Erdogan is holding out, with cues to booming exports which he says are the flipside of a plummeting lira.
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In an interview with FRANCE 24, former Ukrainian president Petro Poroshenko expressed concern over the fate of the Ukrainian soldiers evacuated from the besieged Azovstal steel plant in the eastern city of Mariupol, saying that Russian President Vladimir Putin should "never" be trusted. Ukrainian authorities say the fighters have been taken to areas under the control of Russian forces or pro-Russian rebels and will be exchanged at a later date for Russian prisoners.
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They say life imitates art. But in the case of Volodymyr Zelensky, art seemingly predicted life. He went from an acting role as Ukranian leader to a highly admired, real-life wartime president. How to explain such widespread appeal? What does he have that other leaders seem to lack? Régis Genté and Stéphane Siohan are the authors of one of the first French biographies of Volodymyr Zelensky. They joined us for Perspective.
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On Tuesday, US President Joe Biden visited the site of a deadly attack motivated by racial hatred. On May 14, an 18-year-old went on a shooting rampage in the city of Buffalo, killing 10 and injuring three, with the express purpose of targeting Black people. In an emotional speech, the US president spoke out against White supremacy, saying it was a "poison in our body politic".
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Opposition parties and constitutional experts have slammed President Umaro Sissoco Embalo's decision to dissolve parliament. The move has heightened fears in the coup-prone West African nation.
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Driving without legs may seems impossible. But Babatunde Kewejo keeps pushing himself and others to prove that amputees are not a burden to anyone.