Debt-for-climate swaps: Where ambition meets economic reality

Debt swaps can improve a country’s overall debt profile, and the savings can be invested in development projects and climate action. Dr. Pepukaye Bardouille is Director of the Bridgetown Initiative and Special Advisor in the Prime Minister’s Office, Barbados; Dr. Rania Al-Mashat is Egypt’s Minister of Planning, Economic Development & International Cooperation, and previously held…

South Korean loan sharks target teen gamblers

Loan sharks in South Korea are continuing to lend money to teenagers with gambling addiction, according to a recent report by Chungnam Ilbo. This comes despite a months-long government crackdown, with lenders continuing to issue high-interest “proxy loans” to minors in the country. The report claims that these illegal operators “primarily” target teens who need…