By Oritro Karim
UNITED NATIONS, Jan 21 2025 – On January 15, 2025, the long-awaited ceasefire proposal between Israel and Hamas was approved, bringing the first bout of relief for the people of the Gaza Strip after 15 months of conflict. This has allowed for the exchange of prisoners and hostages between the two nations as well as a greater flow of humanitarian aid to be directed to Gaza. Although this only accounts for the first phase out of the three phase plan, it is uncertain if Israel will continue to uphold the negotiations of a truce after the first phase is completed.

On January 20, the International Committee of the Red Cross (ICRC) issued a press statement in which it was confirmed that they facilitated the first transfer of hostages and prisoners between Israel and Hamas. In the statement, the ICRC stated that three Israeli hostages had been returned to Israel from Gaza and 90 Palestinian prisoners had been returned to the occupied Palestinian territory.

The ICRC described exchange operations between the two nations as “complex” and requiring “rigorous” safety measures to be upheld. The hazards of unexploded artillery, large crowds, and destroyed infrastructure made these operations particularly meticulous. Specialized ICRC staff, including doctors, were on the frontlines and provided medical care as the exchanges took place.

“We are relieved that those released can be reunited with their loved ones. Ensuring their safe return and providing the necessary care at this critical moment is a great responsibility. More families are waiting anxiously for their loved ones to come home. We call on all parties to continue to adhere to their commitments to ensure the next operations can take place safely. Our teams are ready to continue to implement the agreement so that more hostages and detainees are released, and more families reunited,” said ICRC President Mirjana Spoljaric.

In the statement, the ICRC reiterated the urgency of the humanitarian situation that has amounted in Gaza since October 7, 2023. Gazans have struggled for over one year for access to food, clean water, electricity, fuel, and shelter. In addition, access to most basic services, such as sanitation, education, and healthcare, have been significantly reduced.

Concurrent with the exchanges of detainees between Israel and Palestine, the United Nations (UN) Secretary-General, António Guterres, addressed the Security Council on the current situation in Gaza. Guterres stated that the UN remains dedicated to facilitating a peaceful transitional period for both nations, adding that both parties must “make good” on the terms of the ceasefire agreement. This includes a complete cessation of hostilities and an uninterrupted flow of humanitarian aid to Gaza.

“I urge the Security Council and all Member States to support all efforts to implement this ceasefire, bring about a permanent cessation of hostilities, ensure accountability, and create the conditions for recovery and reconstruction. The international media must also be allowed into Gaza to report on this crucial story on the ground. We must seize the opportunity presented by the ceasefire deal to intensify efforts toward addressing governance and security frameworks in Gaza,” said Guterres.

Guterres adds that the UN must have safe and unimpeded access through all available access points in Gaza to deliver essential resources and basic services and to rebuild critical infrastructures in the enclave. On January 19, the World Food Programme (WFP) released a press statement in which they confirmed that aid trucks have begun crossing into Gaza. WFP seeks to facilitate the daily delivery of 150 trucks of aid material into Gaza from all available border crossings. Trucks from Jordan and Israel aim to reach civilians in the north of the enclave and trucks from Egypt aim to reach people in the south.

Additionally, WFP has delivered 5,000 litres of fuel, as well as food parcels, bottled water, winter clothes and vaccines. Furthermore, 33 patients, nearly a dozen doctors, and 16 administrative staff remain in the Al Awda Hospital. Access remains extremely challenging due to continuing security concerns.

On January 20, The Palestinian Non-Governmental Network (PNGO) and the Association of International Development Agencies (AIDA) released a joint statement in which they welcomed the implementation of the ceasefire agreement and highlighted the vast scale of needs facing the people of Gaza. The two organizations urged all parties involved to monitor the full implementation of the ceasefire agreement and investigate all violations of international humanitarian law.

“They must ensure accountability through investigations, support international legal bodies, and establish an international mechanism to address ongoing violations. Ending impunity is crucial to breaking cycles of violence, for Palestinians, the region and all of humanity. We call on all parties to the conflict and the guarantors to honor and ensure the full implementation of the ceasefire agreement. This ceasefire must only be the beginning of a crucial process toward justice, peace and dignity for all. Palestinian voices must be centred in all rebuilding negotiations for a meaningful solution to end the suffering of the Palestinian people,” said a spokesperson for the two organizations.

On January 18, Israeli Prime Minister Benjamin Netanyahu, in a televised statement, informed reporters that the ceasefire is temporary and that Israel reserves its right to resume its offensives with the support of the United States if Hamas doesn’t comply with their end of the deal. “If we need to resume fighting, we will do that in new ways and we will do it with great force,” said Netanyahu.

The statements by Netanyahu have generated much concern among political analysts and humanitarian organizations that the ceasefire may not be implemented fully. Marc Lynch, the director of the Middle East Studies programme at George Washington University, opined that the ceasefire will likely not move past phase one and permanent peace will not be achieved.

“There are endless openings for spoilers on both sides, and serious disagreements remain about the details of the agreement’s next steps. In Israel, there are many people who would like to see this war prosecuted indefinitely,” said Lynch.

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By Franck Kuwonu
UNITED NATIONS, Jan 21 2025 – To achieve the Sustainable Development Goals (SDGs) and Agenda 2063 aspirations, Africa requires an additional $1.3 – 1.6 trillion in financing.

According to a new report ‘Unpacking Africa’s Debt: Towards a Lasting and Durable Solution’ by the UN Special Advisor on Africa launched on 14 November 2024, borrowing remains a necessary tool to navigate the compounding crises of financial distress, climate change, food insecurity, and persistent conflict.

The report emphasizes the need to re-examine Africa’s historical reliance on debt instruments to address structural constraints and unlocking economic opportunities. By fostering economic growth and ensuring debt sustainability, debt can become a tool for progress rather than a hindrance.

Debt is an important mode of financing. While many countries are in debt distress, we must not treat Africa as a completely debt-distressed continent.
–Under-Secretary-General Cristina Duarte, Special Adviser on Africa to the United Nations Secretary-General.

This shift requires aligning debt strategies with long-term development priorities.

“Debt is an important mode of financing. While many countries are in debt distress, we must not treat Africa as a completely debt-distressed continent,” said Cristina Duarte, Under-Secretary-General and Special Adviser on Africa to the UN Secretary-General, at the launch of the report in New York.

“Debt, when managed effectively, can help us invest in achieving development goals,” added Ms. Duarte. The need to reform the global financing system to ensure predictable and affordable financing, prioritize development outcomes over private finance interests, and create fiscal space to fund SDG investments, is also emphasized in the report.

Existing frameworks, including debt restructuring arrangements like the Common Framework, the Report says, are insufficient to meet Africa’s development needs. The Common Framework for Debt Treatments beyond the DSSI (Debt Service Suspension Initiative) is an initiative launched by the G20 in November 2020 to help low-income countries address unsustainable debt levels.

Developed by the G20 and the Paris Club (a group of major creditor countries), the Common Framework aims to streamline debt restructuring and provide more comprehensive debt relief options for countries struggling with high debt burdens, particularly following the economic impact of COVID-19.

At the national level, African countries can deepen domestic debt markets to incentivize local investment and effectively engage with the private sector.

Strengthening regional financing architecture can support transboundary infrastructure projects, complementing national efforts. Enhancing debt management and reform capacity across the continent will also play a critical role in addressing the development financing gap.

The report envisions debt as a means to support a more sustainable economic model. Moving beyond resource extraction for export, African economies can leverage debt to build value-added industries, fostering resilience and self-reliance.

By rethinking debt, fostering domestic investment, and pushing for global financing reforms, Africa can bridge its development gap and achieve its aspirations sustainably.

Key recommendations
Some of the recommendations proposed by the report aimed at addressing Africa’s financing challenges, include:

Increasing access to affordable finance:
Fulfill Official Development Assistance (ODA) pledges, allocating 10% to capacity building and digitization for domestic resource mobilization (DRM)systems.

Reform Multilateral Development Banks (MDBs) to prioritize long-term (30-50 years) concessional lending, increase capital, and lend in local currencies to reduce currency risks.
Prioritize sustainable development by ensuring predictable, large-scale climate adaptation financing.

Reducing borrowing costs:
Restructure high-interest, short-term debt into long-term, low-cost loans to ease fiscal pressure.
Strengthen the G20 Common Framework by expanded eligibility, clarifying processes, and ensuring debt service suspension during negotiations.

Enhancing debt sustainability:
Introduce debt service suspension linked to SDG progress.
Establish a Sovereign Debt Authority to prioritize development in debt treatment.

Leveraging Financing Innovations:
Use state-contingent clauses to suspend debt payments during crises.
Employ debt-for-development, debt-for-nature, debt-for-climate swaps to free resources for SDG investment.

Strengthening regional cooperation:
Boost regional development banks and accelerate Pan-African institutions like the African Investment Bank.
Promote cross-border financing for infrastructure and deepen regional financial markets.

Source: Africa Renewal, United Nations

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By Thalif Deen
UNITED NATIONS, Jan 21 2025 – Perhaps one of the UN’s most ambitious and longstanding projects – the launching of 17 Sustainable Development Goals (SDGs)– is aimed, among other things, at helping developing nations eradicate extreme poverty by 2030. But that elusive goal has made little or no significant progress.

And now comes a new report from Oxfam, “Takers Not Makers” which finds that in 2024 alone, billionaires amassed $2 trillion in wealth, and nearly four new billionaires were minted every week.

“Not only has the rate of billionaire wealth-accumulation accelerated ―by three times― but so, too, has their power. The failure to stop billionaires is now spawning soon-to-be trillionaires. At this pace, we won’t see one trillionaire in a decade, but at least five”.

Meanwhile, the number of people living in poverty (around 3.5 billion) has barely changed since 1990, says Oxfam.

And, according to the UN, if current patterns persist, an estimated 7% of the global population – around 575 million people – could still find themselves trapped in extreme poverty by 2030, with a significant concentration in sub-Saharan Africa.

Nabil Ahmed, Oxfam America’s director of economic and racial justice, told IPS the achievement of the global goals—and efforts to end poverty—are being crushed by extreme levels of economic inequality.

“Our world, in which the top 1% own more than the 95% combined, in which we’re on course for five trillionaires within a decade, is not on course to end poverty soon, nor to meet the scale of the climate crisis”.

The number of people living under the $6.85 poverty line today is in fact close to what it was in 1990, he said.

Meanwhile, the World Bank calculates that if current growth rates continue and inequality does not decrease, it will take more than a century to end poverty.

“There can no longer be any avoiding what was clear at the onset of the SDGs: governments, and all of us, have to address the power and unimaginable wealth of the ultra-rich and mega-corporations to have any chance of succeeding”.

“We need action that includes taxing the ultra-rich, investing in public goods and not privatizing them, breaking up monopolies and rewriting global rules from sovereign debt to patents. As the World Bank itself shows, if we reduce inequality, poverty could be ended three times faster,” declared Ahmed.

In 2024, the number of billionaires rose to 2,769, up from 2,565 in 2023. Their combined wealth surged from $13 trillion to $15 trillion in just 12 months. This is the second largest annual increase in billionaire wealth since records began, according to Oxfam.

The wealth of the world’s ten richest men grew on average by almost $100 million a day —even if they lost 99 percent of their wealth overnight, they would remain billionaires.

Last year, Oxfam predicted the emergence of the first trillionaire within a decade. However, with billionaire wealth accelerating at a faster pace this projection has expanded dramatically —at current rates the world is now on track to see at least five trillionaires within that timeframe.

This ever-growing concentration of wealth is enabled by a monopolistic concentration of power, with billionaires increasingly exerting influence over industries and public opinion.

Ben Phillips, author of “How to Fight Inequality”, told IPS the promises made in the Sustainable Development Goals, including to end extreme poverty, can be met. But doing so depends on leaders making the decision to challenge extreme wealth. They need to tax and regulate the superrich, not only to raise essential revenue, but also to reshape the economy so that it works for everyone.

“The money is there, and the policies are known, to ensure that no one is held down in extreme poverty. Expert economic analysis that the G20 has commissioned shows that wealth taxes would unlock billions of dollars to tackle poverty”.

It also shows that taxing the wealth of the super-rich, and reining in the power of the oligarchs, would make the economy fairer and more secure. Furthermore, public opinion research shows that taking on the power of the super-rich, including by taxing them, would be hugely popular with voters from across the political spectrum.

“There is no mystery about what needs to be done about the twin evils of extreme poverty and extreme wealth. The difficulty is to get leaders to do it,” he pointed out.

The challenge is this: the extreme concentration of wealth has brought about an extreme concentration of power, and so to get political leaders to break with the super-rich requires public pressure that overwhelms the pressure of the oligarchs.

“There is hope, but that hope needs to be active. A fair economy that overcomes extreme poverty and extreme wealth won’t be given to people, but it can be won by people power”, said Phillips.

Daniel D. Bradlow, Professor/Senior Research Fellow, Centre for the Advancement of Scholarship at the University of Pretoria, told IPS according to the One Campaign, Africa’s total external debt in 2023 was $685.5 billion, equal to about 25% of the continent’s total GNP and its total debt service in 2024 was about $102 billion.

African countries are spending more on debt service than on health and education. This means that the world’s approximately 2500 billionaires, could spend less than half their $2 trillion increase in wealth in 2024 to pay off the total African external debt.

“Given this situation, it is highly unlikely that Africa can meet the SDGs without some correction in the gross maldistribution of wealth— and the power and influence that goes with it,” predicted Prof Bradlow.

Meanwhile, Oxfam has released its new study during a week (January 20-24) when business elites are gathering in the Swiss resort town of Davos, and billionaire Donald Trump was inaugurated Monday as President of the United States, backed by the world’s richest man Elon Musk.

The Oxfam report shows how unmerited wealth and colonialism —understood as not only a history of brutal wealth extraction but also a powerful force behind today’s extreme levels of inequality— stand as two major drivers of billionaire wealth accumulation.

Some of the findings include:

*60 percent of billionaire wealth now comes from inheritance, monopoly power or crony connections.

*The wealth of the world’s ten richest men grew on average by almost $100 million a day in 2024 —even if they lost 99 percent of their wealth overnight, they would remain billionaires.

*The richest 1 percent in Global North countries like the US, UK and France extracted $30 million an hour from the Global South through the financial system in 2023.

*Global North countries control 69 percent of global wealth, 77 percent of billionaire wealth and are home to 68 percent of billionaires, despite making up just 21 percent of the global population.

Oxfam is calling on governments to act rapidly to reduce inequality and end extreme wealth.

Radically reduce inequality
Governments need to commit to ensuring that, both globally and at a national level, the incomes of the top 10 percent are no higher than the bottom 40 percent. According to World Bank data, reducing inequality could end poverty three times faster. Governments must also tackle and end the racism, sexism and division that underpin ongoing economic exploitation.

Tax the richest to end extreme wealth
Global tax policy should fall under a new UN tax convention, ensuring the richest people and corporations pay their fair share. Tax havens must be abolished. Oxfam’s analysis shows that half of the world’s billionaires live in countries with no inheritance tax for direct descendants. Inheritance needs to be taxed to dismantle the new aristocracy.

End the flow of wealth from South to North
Cancel debts and end the dominance of rich countries and corporations over financial markets and trade rules. This means breaking up monopolies, democratizing patent rules, and regulating corporations to ensure they pay living wages and cap CEO pay.

Restructure voting powers in the World Bank, IMF and UN Security Council to guarantee fair representation of Global South countries. Former colonial powers must also confront the lasting harm caused by their colonial rule, offer formal apologies, and provide reparations to affected communities.

The full report is available at: https://oxfam.box.com/s/v8qcsuqabqqmufeytnrfife0o1arjw18

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