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By Hailemariam Desalegn Boshe
At the Second Africa Climate Summit (ACS2), which took place in Addis Ababa a couple months ago, I delivered a warning that every G20 government should heed: Africa cannot finance its future while drowning in debt.
The numbers speak for themselves: Sub-Saharan Africa requires $143 billion in annual climate finance, equivalent to roughly 7% of its total GDP. But current climate-finance flows into the region amount to only one-quarter of that. At the same time, African countries spent nearly $90 billion in 2024 servicing external debt.
Africa’s debt crisis is not a fringe issue; it is one of the biggest obstacles to achieving global climate goals and advancing the continent’s development. Every dollar that…
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Sredneuralsk, a satellite city of Yekaterinburg, has officially been declared insolvent. By order of the governor of Sverdlovsk region, external financial management has been imposed.
The trigger was expenditures exceeding revenues by 18 million rubles. Against the backdrop of the oblast’s overall budget deficit of over 30 billion rubles, this amount seems minor, but it has signaled a deeper financial crisis.
Difficulties balancing local budgets have spread across most regions. In Tomsk, officials warned in the summer that external management might be imposed: due to problems resettling unsafe housing, debt reached nearly 2 billion rubles, with a deficit of 5 billion. In Samara, local authorities also…
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Canadians are betting record sums online — and falling in debt. Here’s how to dig out The Albertan
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Canadians are betting record sums online — and falling in debt. Here’s how to dig out Pique Newsmagazine
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Canadians are betting record sums online — and falling in debt. Here’s how to dig out MSN
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Canadians are betting record sums online — and falling in debt. Here’s how to dig out Squamish Chief
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Canadians are betting record sums online — and falling in debt. Here’s how to dig out MSN
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Canadians are betting record sums online — and falling in debt. Here’s how to dig out TownAndCountryToday.com
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Canadians are betting record sums online — and falling in debt. Here’s how to dig out Airdrie City View
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Rob Kilner’s clients carry gambling debts ranging from a few thousand dollars to more than a quarter million.
One lost $250,000 on sports betting apps this year. Another spent $100,000 over two years, with his partner in the dark for most of it, he said.
“I just signed up a husband who had not told his wife until about two months ago,” said Kilner, a licensed insolvency trustee in Ontario.
While those sums are above average, Kilner has watched both his tally of clients and the depth of their gambling debts balloon in recent years.
“Ten years ago I didn’t see anyone, because you’d actually have to go into a casino,” he added. “It’s just the last two, three years.”
The rise of online sports betting and casino apps has…
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