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Sudan’s Darfur now ravaged by famine— Experts

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A committee of food security experts has stated that the fighting in Sudan and limitations on relief delivery have resulted in famine in at least one location in North Darfur and have probably generated famine conditions in other sections of the conflict region.

This discovery, which is connected to the widely accepted Integrated Food Security Phase categorization (IPC) system, is only the third famine categorization since the system’s establishment two decades prior. It demonstrates how the world’s largest internal displacement crisis has been brought about by over 15 months of fighting between the army and the paramilitary Rapid Support Forces (RSF), leaving 25 million people, or half of the country’s population, in dire need of humanitarian aid. Starvation and disease are wreaking havoc in Sudan.

A famine designation, according to experts and United Nations officials, might result in a resolution by the Security Council allowing organizations to provide aid to those in need across international borders.

The Zamzam camp for internally displaced people (IDPs) in North Darfur was reportedly suffering famine, which is defined as the achievement of acute malnutrition and mortality requirements, according to the Famine Review Committee’s (FRC) assessment, opens new tab. It is anticipated that the IDPs will stay there at least through October.

In Zamzam, there are 500,000 residents. The city is located near al-Fashir, the final significant RSF stronghold in Darfur, which is home to 1.8 million people. The location has been under siege by the RSF for months, and no supplies have arrived at the big camp.

According to the FRC, conflict and extremely restricted humanitarian access are the main causes of starvation in the Zamzam camp.

It was stated that there was a chance that comparable circumstances were present in other parts of Darfur, such as the camps for internally displaced people at Abu Shouk and Al Salam.

An IPC process headed by the Sudanese government concluded in late June that famine was a possibility in 14 regions of the nation, including sections of El Gezira, Kordofan, and Khartoum states.

The charity Islamic Relief said in a statement on Thursday that it was seeing an increase in the number of children in Darfur and other parts of Sudan who needed medical attention in clinics. “It is not too late for them, but time is running out,” it continued.

According to reports by Reuters, some Sudanese people have been made to eat only leaves and dirt, and satellite images indicate that as disease and starvation spread, graves are rapidly growing.

In Darfur, 14 burial places have grown significantly in recent months, according to a Reuters examination of satellite photos. Between March 28 and May 3, one cemetery in Zamzam had a 50% growth rate more than it did in the three and a half months prior. The analysis was utilized by the FRC as oblique proof of rising mortality.

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Musings From Abroad

Nigeria, China extend $2bn currency swap deal

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A 15 billion yuan ($2 billion) currency-swap arrangement between China and Nigeria has been extended to boost investment and commerce between the two countries.

According to the People’s Bank of China, the agreement is anticipated to strengthen financial cooperation and encourage the wider use of the yuan and naira in bilateral transactions, as reported by Bloomberg and Chinese local media on Friday.

“The agreement is valid for three years and may be renewed upon mutual consent,” the central bank said in a statement.

The bank stated that by lowering reliance on third-party currencies like the US dollar, the currency-swap agreement renewal is expected to strengthen economic linkages, promote investment, and ease cross-border commerce.

When the Central Bank of Nigeria and the People’s Bank of China inked an agreement worth renminbi (RMB) 16 billion (about $2.5 billion) in May 2018, the currency-swap framework was first implemented.

Yi Gang, the former governor of the PBoC, and Godwin Emefiele, the suspended governor of the CBN, signed the deal.

The original agreement was intended to eliminate the need for third-party currencies like the US dollar by giving companies and industries in both nations direct access to the yuan and naira.

“This agreement will provide naira liquidity to Chinese businesses and RMB liquidity to Nigerian businesses respectively, thereby improving the speed, convenience, and volume of transactions between the two countries,” the CBN had said at the time of the signing.

To promote flexible and varied regional monetary and financial cooperation, including local currency swaps, to ease commerce between the two countries, President Bola Tinubu and President Xi Jinping of China met in September.

The leaders also talked about how currency-swap programs contribute to global financial stability.

Nigeria and China agreed to strengthen international collaboration on financial intelligence, emphasizing anti-money laundering and fighting the funding of terrorism, since commerce between the two nations makes up around 30% of Nigeria’s total trade.

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Musings From Abroad

World Bank suspends loan fees for impoverished countries

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To lower borrowing costs for vulnerable nations, the World Bank has announced the elimination of several loan fees. The action is a component of larger initiatives to increase financial capacity and tackle pressing global issues including inequality, climate change, and economic instability.

This was revealed by the international bank in a statement on Wednesday. The bank has extended its lowest pricing to tiny, fragile nations, removed the prepayment cost on International Bank for Reconstruction and Development loans, and instituted a grace period for commitment fees on undisbursed amounts.

“The bank is working hard to make it easier for countries to borrow and to pay back their loans more easily by removing some fees on IBRD loans,” the financial institution stated.

The financier claims that these adjustments are intended to relieve the financial strain on countries that require development funding the most.

“These measures are designed to make borrowing easier and more affordable for countries facing significant challenges,” the bank said. It added that the reforms align with its vision of building a “better, more efficient, and bigger” institution capable of addressing overlapping global crises.

The World Bank’s larger financial reforms, which include fee eliminations, are intended to boost lending capacity by $150 billion over the next ten years.

As part of the changes, the IBRD’s equity-to-loans ratio was lowered from 20% to 18%, allowing for an additional $70 billion in lending over ten years.

According to the statement, $1 billion was obtained through a guarantee from the Asian Infrastructure Investment Bank, and an additional $10 billion has been released through bilateral guarantees.

“The adjustments to our capital framework reflect our commitment to scaling up resources while maintaining financial stability,” the bank said.

The international lender highlighted that these adjustments are essential to tackling the billions of dollars that are required each year to help fragile governments, fight climate change, and advance digital inclusion.

It did concede, nevertheless, that states and multilateral organisations are insufficient to discharge these financial obligations on their own.

The Bank has created a Framework for Financial Incentives to close the gap, promoting investments in cross-border issues like pandemic prevention, energy access, water security, and biodiversity.

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