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☆ With China's support, Sri Lanka expects nod for $2.9 bln IMF deal
▼ + stars: | 2023-03-07 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +4 min

"Sri Lanka has completed all prior actions that were required by the IMF," Wickremesinghe said. It was not clear what new support China, the world's biggest sovereign creditor, extended to Sri Lanka on Monday. By end-2020, Sri Lanka owed the China EximBank $2.83 billion or 3.5% of the island's external debt, according to IMF data. Sri Lanka needs to repay about $6 billion on average each year until 2029 and will have to keep engaging with the IMF, Wickremesinghe added. Sri Lanka has been waiting for about 187 days to finalise a bailout after reaching a staff-level deal with the IMF.

☆ Scientists found the stray dogs of Chernobyl are 'genetically distinct' 40 years after the massive radiation leak
▼ + stars: | 2023-03-05 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +3 min

Scientists compared dogs living within the Chernobyl power plant and those living farther away. Researchers found the Chernobyl dogs to be "genetically distinct." When the power plant in Ukraine exploded in 1986, residents who evacuated the area had to leave their pets behind. While authorities at the time culled many animals to stop contamination from spreading, clean-up workers cared for some dogs, according to the New Scientist. The Chernobyl Dog Research Initiative — which provides veterinary care — estimates that more than 800 feral dogs are living in the area.

☆ Analysis: Cash-strapped countries face IMF bailout delays as debt talks drag on
▼ + stars: | 2023-03-02 | by ( Jorgelina Do Rosario | ) www.reuters.com time to read: +7 min

IMF funding is often the sole financial lifeline available to countries in a debt crunch, and key to unlocking other financing sources, with delays putting pressure on government finances, companies and populations. Though staff agreements can be reached without financing assurances, the IMF board needs them to approve the programme. Chinese Premier Li Keqiang said on Wednesday the country is willing to "constructively" participate in solving debt problems of relevant countries under a multilateral framework. But Beijing has always emphasised all creditors should follow the principle of "joint action, fair burden" in debt settlements. Adding another layer of complexity to these debt talks, the Common Framework doesn't lay out precise rules on how a debt restructuring with bilateral creditors should work.

☆ China calls for 'joint action' in debt settlements at G20
▼ + stars: | 2023-02-24 | by ( Joe Cash | ) www.reuters.com time to read: +3 min

BEIJING, Feb 24 (Reuters) - China, the world's largest bilateral creditor, urged G20 nations on Friday to conduct a fair, objective and in-depth analysis of the causes of global debt issues and to "resolve the problem in a comprehensive and effective manner." The United States has repeatedly criticised China over what it considers to be "foot-dragging" on debt relief for dozens of low-and middle-income countries. According to a statement released by his ministry, Liu said that international financial institutions and commercial creditors should follow the principle of "joint action, fair burden" in debt settlements. Officials from the IMF, the World Bank and G7 nations will meet on Saturday on the sidelines of the G20 meeting for the first in-person discussions of the new IMF Global Sovereign Debt Roundtable. China's role in the G20 Common Framework, however, is expected to feature in Saturday's talks.

[1/2] Drivers push auto rickshaws in a line to buy petrol from a fuel station amid Sri Lanka's economic crisis, in Colombo, Sri Lanka, July 29, 2022. Regional rivals China and India are the biggest bilateral lenders to Sri Lanka, a country of 22 million people that is facing its worst economic crisis in seven decades. At the end of 2020, China EximBank had loaned Sri Lanka $2.83 billion which is 3.5% of the island's debt, according to an IMF report released in March last year. "The bank will support Sri Lanka in your application for the IMF Extended Fund Facility (EFF) to help relieve the liquidity strain," China's letter said. DEBT SUSTAINABILITYIn a letter directly addressed to the IMF, India said last week that the financing or debt relief provided by Export-Import Bank of India would be consistent with restoring debt sustainability under the IMF-supported program.

Regional rivals China and India are the biggest bilateral lenders to Sri Lanka, a country of 22 million people that is facing its worst economic crisis in seven decades. According to the letter, the Export-Import Bank of China said it was going to provide an extension on the debt service due in 2022 and 2023 as an immediate contingency measure based on Sri Lanka's request. At the end of 2020, China EXIM bank had loaned Sri Lanka $2.83 billion which is 3.5% of the island's debt, according to an IMF report released in March last year. "The bank will support Sri Lanka in your application for the IMF Extended Fund Facility (EFF) to help relieve the liquidity strain," the letter said. Sri Lanka's foreign and finance ministries did not immediately respond to questions from Reuters.

☆ India says it is committed to boosting investment in crisis-hit Sri Lanka
▼ + stars: | 2023-01-20 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

"We count on the government of Sri Lanka to provide a more business friendly environment to create a powerful pull factor." India has told the global lender that it strongly supports Sri Lanka's debt restructuring plan, with Sri Lanka owing about$1 billion to its nearest neighbour. We extended financial assurances to the IMF to clear the way for Sri Lanka to move forward." China is Sri Lanka's largest bilateral lender and the last remaining major creditor to yet to agree to the plan. Sri Lanka owed Chinese lenders $7.4 billion, or nearly a fifth of its public external debt, by the end of last year, calculations by the China Africa Research Initiative show.

☆ India foreign minister visits Sri Lanka with stronger ties, China in focus
▼ + stars: | 2023-01-19 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +3 min

During his two-day visit, his third to Sri Lanka since 2021, minister Subrahmanyam Jaishankar will look to strengthen India's ties with its debt-ridden neighbour and sign several key deals. The two countries are also expected to sign a Memorandum of Understanding for a renewable power project covering three islands in Sri Lanka's north during Jaishankar's visit, two sources at Sri Lanka's power and energy ministry said. Jaishankar will meet Sri Lanka's president on Friday morning, his office confirmed. He will also hold discussions with Sri Lanka's prime minister and foreign minister, according to a statement from India's foreign ministry. "The U.S. stands ready to assist Sri Lanka to unlock IMF assistance when all creditors agree to fair and equitable treatment," Julie Chung, the U.S. ambassador to Sri Lanka, said in a tweet on Thursday.

COLOMBO, Jan 18 (Reuters) - India has told the International Monetary Fund that it strongly supports Sri Lanka's debt restructuring plan as the island nation seeks a $2.9 billion loan from the global lender, according to a letter seen by Reuters. "We hereby confirm our strong support for Sri Lanka's prospective (loan) program and commit to supporting Sri Lanka with financing/debt relief consistent with restoring Sri Lanka's public debt sustainability," Indian finance ministry official Rajat Kumar Mishra told the IMF chief in a letter dated Jan. 16. Sri Lanka owes India around $1 billion that will come under the debt restructuring plan, a source familiar with the matter told Reuters earlier this week. New Delhi separately provided Sri Lanka with about $4 billion in rapid assistance between January and July last year, including credit lines, a currency swap arrangement and deferred import payments. Sri Lanka owed Chinese lenders $7.4 billion - nearly a fifth of its public external debt - by the end of last year, according to calculations by the China Africa Research Initiative (CARI).

☆ India tells IMF it backs Sri Lanka's debt restructuring plan, source says
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +3 min

[1/2] A medical worker talks to a vendor selling household goods and food for patients and their family members, outside Apeksha Hospital, Colombo, Sri Lanka, August 11, 2022. Sri Lanka's finance ministry did not immediately respond to a request for comment. Sri Lanka owes India around $1 billion that will come under the debt restructuring plan, the source said. "Talks with bilateral lenders including India and China to restructure Sri Lanka's debt are progressing well and we are hopeful of finalising support from the IMF in the first quarter of 2023," Sri Lanka's cabinet spokesperson, Bandula Gunawardana, told reporters on Tuesday. The IMF has stressed the importance of joint talks involving three of Sri Lanka's main bilateral creditors - China, Japan and India.

☆ These recently elected trans lawmakers say anti-LGBTQ bills inspired them to run
▼ + stars: | 2022-11-30 | by ( Julie Moreau | ) www.nbcnews.com time to read: +9 min

Zooey Zephyr, the first out transgender woman elected to the Montana Legislature, was inspired to run after her state passed three pieces of legislation targeting the LGBTQ community. 'Real, tangible effects on trans people'State legislatures have increasingly become battlegrounds over LGBTQ rights. Republicans began introducing legislation targeting queer rights at an increased clip in the wake of the 2015 Supreme Court ruling in Obergefell vs. Hodges, which legalized same-sex marriage nationally. In 2017, Republicans introduced 129 bills targeting LGBTQ rights, many of which focused on issues of religious freedom. However, she believes bills targeting LGBTQ rights are ultimately a losing strategy.

China is Sri Lanka's largest bilateral creditor and, with India and Japan, part of official creditor talks to restructure the country's debt. "China will have to play a major role in Sri Lanka's debt restructuring process," CARI researchers Umesh Moramudali and Thilina Panduwawala wrote in the report. The island nation's total external debt is $37.6 billion, according to the report. Adding central bank foreign currency debt, including a $1.6 billion currency swap with China, public external debt rises to $40.6 billion, of which 22% is from Chinese creditors. The loan agreements have clauses that "submit the loans to Chinese governing law and arbitration before the China International Economic and Trade Arbitration Commission".

☆ How almost $427 million in taxpayer money is locked away in a forgotten government fund — and lawmakers won't spend it or return it
▼ + stars: | 2022-11-30 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +12 min

The intended beneficiaries of the taxpayer-fueled Presidential Election Campaign Fund — presidential candidates — don't want it, as they're soured by its restrictions on their election fundraising and spending. An accounting of the Presidential Election Campaign Fund, as of October 31, 2022. Several nonprofit leaders told Insider that Congress could use the Presidential Election Campaign Fund money to immediately ease suffering, particularly in light of the COVID-19 pandemic. During the 2019-20 congressional session, two Republican lawmakers sponsored similar bills that attempted to kill the Presidential Election Campaign Fund. Until that or any other repurposing decision comes down, the FEC continues to spend taxpayer resources keeping the Presidential Election Campaign Fund alive.

☆ A record number of LGBTQ candidates claim victory in another 'rainbow wave'
▼ + stars: | 2022-11-10 | by ( Jo Yurcaba | Jo Yurcaba Is A Reporter For Nbc Out. | ) www.nbcnews.com time to read: +8 min

A record number of LGBTQ candidates won their midterm races this year, creating what some advocates are calling yet another “rainbow wave.”Many races are still too close or too early to call, but as of Thursday afternoon, at least 400 out LGBTQ candidates had won their elections, according to the LGBTQ Victory Fund, which supports queer people running for office. “With so much at stake this election, from the future of marriage equality to abortion, LGBTQ candidates’ grit and exceptional grassroots support is paying off.”National firstsQueer candidates celebrated a number of notable victories and firsts across the country. Alaska is one of four states with zero out LGBTQ state lawmakers, according to the LGBTQ Victory Institute. Magni said the results prove that LGBTQ candidates can successfully compete in both blue and red states. “This is a powerful message, saying, ‘Hey, LGBTQ candidates can win elections and can win elections in many states and many districts across the country.’” he said.

☆ As election nears, some conservative groups have ramped up anti-trans campaign ads
▼ + stars: | 2022-11-05 | by ( Matt Lavietes | Matt Lavietes Is A Reporter For Nbc Out. | ) www.nbcnews.com time to read: +10 min

In the last leg of what has been a heated midterm election cycle, some conservative groups have ramped up misleading or inflammatory campaign ads targeting transgender rights, which have become an increasingly partisan and divisive issue. Within the last several weeks, the American Principles Project aired campaign ads in six battleground states, the group wrote on Twitter. Justin Unga, the director of strategic initiatives for the Human Rights Campaign, said ads targeting transgender rights can have real-world ramifications. A record 346 anti-LGBTQ bills have been filed in state legislatures around the country this year, including 145 that restrict transgender rights, according to the Human Rights Campaign. Many of the recent campaign ads targeting transgender rights were directed at Black and Latino voters, according to the Human Rights Campaign.

☆ Amazon slashes yet another division in attempt to cut costs, one day after share price bloodbath
▼ + stars: | 2022-10-28 | by ( Katherine Long | Tom Dotan | ) www.businessinsider.com time to read: +2 min

Amazon fired half of its Amp live radio division on Friday, notifying roughly 150 people they would need to take severance or find new jobs internally. Amazon is looking for ways to tighten its belt amid growing shipping costs and slackening consumer spending. The company reported weaker-than-expected sales and forecasts Thursday, causing its share price to tumble nearly 12%. Amazon fired roughly 150 people from its Amp live radio division Friday, one day after weaker-than-expected earnings caused its share price to plunge nearly 12%. The app allows users to broadcast their own live radio shows and has been courting content creators.

☆ The Rings of Pain: Amazon is looking where to cut costs. Here's how the company will decide who is put to the sword and who is spared.
▼ + stars: | 2022-10-28 | by ( Katherine Long | ) www.businessinsider.com time to read: +3 min

Amazon is looking for areas to cut costs, CFO Brian Olsavsky said. Amazon is "looking for areas where we can save money," he said on a conference call Thursday. Which divisions get the ax will be based in part on their ability -- or lack thereof -- to contribute to Amazon's growth, Olsavsky told reporters. Amazon Web Services posted 27% revenue growth last quarter, its slowest growth rate since Amazon began breaking out the division in its financial statements. Amazon's advertising division also saw revenue growth moderate compared to a year ago, to 30% – but it outperformed advertising behemoths Google and Facebook.

☆ In a historic first, LGBTQ Americans will be on the ballot in all 50 states
▼ + stars: | 2022-10-26 | by ( Matt Lavietes | Matt Lavietes Is A Reporter For Nbc Out. | ) www.nbcnews.com time to read: +5 min

For the first time in the nation's history, Americans from all 50 states and the District of Columbia will have a chance to elect an LGBTQ person to public office. More than 340 anti-LGBTQ bills have been introduced in state legislatures this year, according to the Human Rights Campaign, the nation’s largest LGBTQ advocacy group. The word “grooming” has long been associated with mischaracterizing LGBTQ people, particularly gay men and transgender women, as child sex abusers. "So, if you're voting against some LGBTQ rights, you're not voting against LGBTQ rights in abstract anymore, but you're voting to deny rights to someone who sits next to you every day at work." Within the record-breaking election year for LGBTQ candidates, dozens of them will also have the chance to make history on their own.

Reyes said Hollywood films often reflected the politics of their time — and that had an influence on Latino roles. Studies by the Government Accountability Office, the University of Southern California and other groups consistently show that Latinos are underrepresented in the film industry. Just this year, UCLA’s Hollywood Diversity Report documented “enormous gains” by women and people of color, but Latino representation still lagged. Slowly but surely, we are shaking up the narrative in Hollywood.”Calderón is frustrated by the continuing practice of “brownface,” whereby Latino roles go to white actors. Sanchez cited Eugenio Derbez in “Coda” (2021) as an example of a well-written Latino film character.

☆ MacArthur fellow P. Gabrielle Foreman wants to make sure 'unremembered' Black history gets taught
▼ + stars: | 2022-10-14 | by ( Zachary Schermele | ) www.nbcnews.com time to read: +4 min

That history, Foreman argues, has been largely erased from academic discussions and mainstream conversations. P. Gabrielle Foreman and Jim Casey, back row, and Denise Burgher, second from right, with their colleagues at Pennsylvania State University. “The Colored Conventions movement helps us to understand a history full of possibilities,” he said. Now, it has a massive interactive online archive and was the inspiration behind “The Colored Conventions Movement: Black Organizing in the Nineteenth Century,” which was published last year. Amid widespread efforts to suppress teaching about race and racism in the U.S., Burgher said a greater and more accurate understanding of Black history is more important now than ever before.

☆ How more than $424 million in taxpayer money is locked away in a forgotten government fund — and lawmakers won't spend it or return it
▼ + stars: | 2022-09-22 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +12 min

The intended beneficiaries of the taxpayer-fueled Presidential Election Campaign Fund — presidential candidates — don't want it, as they're soured by its restrictions on their election fundraising and spending. A US Treasury document detailing the finances of the Presidential Election Campaign Fund. Several nonprofit leaders told Insider that Congress could use the Presidential Election Campaign Fund money to immediately ease suffering, particularly in light of the COVID-19 pandemic. During the 2019-20 congressional session, two Republican lawmakers sponsored similar bills that attempted to kill the Presidential Election Campaign Fund. Until that or any other repurposing decision comes down, the FEC continues to spend taxpayer resources keeping the Presidential Election Campaign Fund alive.

☆ NZ's Ardern says Christchurch Call anti-online hate project gets new tech investments
▼ + stars: | 2022-09-21 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

New Zealand Prime Minister Jacinda Ardern addresses members of the media during a joint news conference hosted with Australian Prime Minister Anthony Albanese (not pictured), following their annual Leaders’ Meeting, at the Commonwealth Parliamentary Offices in Sydney, Australia, July 8, 2022. REUTERS/Loren Elliott/File PhotoWELLINGTON, Sept 21 (Reuters) - New Zealand Prime Minister Jacinda Ardern on Wednesday announced a new research initiative under a global project aimed at tackling online hate set up in the wake of a mass killing by a white supremacist in Christchurch in 2019. The Christchurch Call was launched by Ardern and French President Emmanuel Macron after 51 people were killed at two mosques in the New Zealand city while the shooter live-streamed his rampage on Meta's (META.O) Facebook platform. It said, however, many online service providers remain outside the Call, calling on some unidentified firms unwilling to meet the commitments to join. Register now for FREE unlimited access to Reuters.com RegisterReporting by Lucy Craymer; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

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