aid – The News Desk

IMF greenlights further $360 million in Ghana aid

13Apr

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Business

IMF greenlights further $360 million in Ghana aid

ACCRA: The International Monetary Fund on Saturday said it had validated a fresh tranche of aid of $360 million for Ghana as the country seeks to exit an economic crisis.The latest aid comes as part of a second review of the IMF's $3 billion assistance package to Accra, which was approved in May last year, to help Ghana shore up its public finances and better manage its heavy debt load."IMF staff and the Ghanaian authorities have reached a staff-level agreement on the second review of Ghana's economic programme under the Extended Credit Facility," said IMF mission head for Ghana Stephane Roudet, referring to an aid programme for political services and economic reforms.The latest package means total IMF financial support released under the agreement since May 2023 is worth about $1.5 billi...

U.S. Lawmakers Fear Delay In Ukraine Aid Has Emboldened Putin

16Dec

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Politics

U.S. Lawmakers Fear Delay In Ukraine Aid Has Emboldened Putin

On Sept. 30, House Republicans stripped out of a stopgap spending bill about $6 billion for arms to be sent to Ukraine in its battle against Russian invaders. In October, the White House came back with a much larger request to arm Ukraine, in addition to Israel and Taiwan, topping $100 billion overall.President Joe Biden’s proposal has been held up by Republicans. And while it’s not impossible that a deal trading stricter U.S. asylum policy, sought by the GOP, in exchange for Ukraine aid can be worked out before Christmas, full passage is unlikely after House members left town for the holidays Thursday.The chamber isn’t set to return to business until Jan. 9, meaning more aid — if it’s approved at all — will be delayed. And that delay, say some Ukraine hawks on Capitol Hill, could be almo...

3Dec

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World

Can Washington Still Do Anything?

Can the United States government still act to solve problems and aid allies in the national interest? It’s hard to believe it has come to this, but that’s the underlying question as President Biden and Congress struggle to pass a spending bill to help Ukraine and Israel while improving U.S. border security. President Biden has asked Congress for $106 billion in supplemental spending, but he needs Republican votes to do it. Republicans want to do something to reduce the flood of migrants pouring across the border and burdening American cities, but they need Democratic votes to pass it. The necessity for compromise is obvious, but America’s polarized politics and Mr. Biden’s political weakness may tank the effort. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe85...

Cities Use Covid Funds to Run Guaranteed-Income Experiments

3Dec

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Business

Cities Use Covid Funds to Run Guaranteed-Income Experiments

Alexandria, Va.Dozens of cities around the country have launched welfare experiments called guaranteed-income pilots to send monthly checks of up to $1,000 to needy people. The goal is to demonstrate that giving the poor direct cash aid can improve their economic stability, their children’s educational attainment, and even their mental health. Most of the pilots are “no strings attached,” meaning that the cash aid doesn’t come with any restrictions on how it can be spent or any work requirement. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Israel Is Vulnerable to ‘Force Majeure’ Claims

23Oct

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Business

Israel Is Vulnerable to ‘Force Majeure’ Claims

Israel faces a vulnerability in its conflict with Hamas that has thus far escaped notice: potential supply-chain disruptions caused by skittish shippers. A Taiwanese container ship bound for Ashdod recently was rerouted to Haifa, a port city in northern Israel. The managing company, Evergreen Line, urged customers to take delivery of goods at Haifa, then announced it would immediately cease performing under the Israeli delivery contract, invoking the doctrine of “force majeure”—superior force—to justify its decision. This legal maneuver is suspect. Contractual force majeure is rarely invoked and enforced to allow the nonperformance of contracts that have become either impossible or impracticable due to some catastrophic event, including natural disasters and wars. The defense has historic...