Latest news with #multilateral
CNA
13-06-2025
- Politics
- CNA
Poland following Middle East situation with calm: Polish president
CNA's Yasmin Jonkers speaks to Polish President Andrzej Duda in an exclusive interview. He calls for cool heads and a multilateral approach to managing the escalating tensions in the Middle East.
LBCI
05-06-2025
- Business
- LBCI
Lebanon elected to UN Economic and Social Council for 2026–2028 term
Lebanon has secured a seat on the United Nations Economic and Social Council (ECOSOC) for the 2026–2028 term, the Ministry of Foreign Affairs and Emigrants announced. The election follows Lebanon's recent selection as one of the Vice Presidents of the 80th session of the U.N. General Assembly, chaired by Germany's Annalena Baerbock. In a statement, the ministry credited the win to diplomatic efforts led by Lebanon's Permanent Mission to the U.N. in New York. It emphasized that this achievement strengthens Lebanon's role within the U.N. and highlights its commitment to multilateral engagement. The ministry added that the victory reflects international confidence in Lebanon and its standing as a founding and active member of the United Nations.
Reuters
04-06-2025
- Business
- Reuters
Fitch downgrades Afreximbank to one notch above 'junk'
LONDON, June 4 (Reuters) - Fitch downgraded Afreximbank's credit rating to one notch above junk on Wednesday, with a negative outlook, citing high credit risks and weak risk-management policies. The one-notch downgrade to BBB- comes as the African lender battles to protect its loans from restructuring in Ghana, Zambia and Malawi, claiming that as a multilateral lender it has preferred creditor status. Fitch pegged Afreximbank's non-performing loans at above 6%, while the bank itself reported an NPL ratio of 2.44% in the first half. "The revision of risk management to 'weak' reflects low transparency in the recent reporting of loan performance relative to multilateral development bank peers and that Fitch's definition of NPLs differs from the bank's approach, which makes use of flexibilities offered by IFRS 9," Fitch said. A lower credit rating can increase the borrowing cost for an issuer, which can in turn impact how much they can lend and at what rates. Fitch attributed the negative outlook, which effectively puts the bank on downgrade watch, to the risk that some of its debt to sovereign borrowers might be included in restructuring. "This would put pressure on our assessment of the bank's policy importance and heighten the risk associated with its strategy," Fitch said. Afreximbank did not immediately comment on the downgrade.
Washington Post
30-05-2025
- Business
- Washington Post
Japan's Ishiba warns against tension over tariffs and vows to expand Asia-Pacific trade group
TOKYO — Japanese Prime Minister Shigeru Ishiba expressed determination Thursday to defend rules-based, free and multilateral trade systems and work on expanding the main Asia-Pacific trade group at a time of tension over U.S. tariffs. 'High tariffs will not bring economic prosperity,' Ishiba told a global forum in Tokyo. 'A prosperity built on sacrifices by someone or another country will not make a strong economy.' Japan seeks to work with the U.S. on investment , job creation and manufacturing high quality products for the prosperity of America and the rest of the world, he said.
Bloomberg
29-05-2025
- Business
- Bloomberg
African Development Bank Elects Mauritania's Tah as President
The African Development Bank elected Sidi Ould Tah as its new president, installing a former development banker at the helm of one of the most important multilateral institutions on the continent. Tah, an ex-finance minister of Mauritania, defeated four other candidates and was elected with 76.2% of the vote, the AfDB's board of governors said on Thursday.
