The Latest Breaking News from Developing Countries

The US House of Representatives has voted to strip China of its status as a developing country. China has condemned the move and refuses to join the ranks of developed or "wealthy" nations. At stake are critical economic and geopolitical issues for the world’s second-largest economy.

To make more strategic use of official development assistance (ODA), the government plans to emphasize a proactive approach of proposing aid to developing countries, rather than waiting for requests from these nations.

LONDON: China has handed out US$240 billion worth of bailout loans to 22 developing countries at risk of default over the past two decades, with the trend accelerating in recent years, a report said Tuesday.

China spent $240 billion bailing out 22 developing countries between 2008 and 2021, with the amount soaring in recent years as more have struggled to repay loans spent building "Belt and Road" infrastructure, a study published on Tuesday showed.

Dilma Rousseff will helm the Shanghai-headquartered New Development Bank, which was set up to finance projects in emerging markets and developing countries

Egyptian Finance Minister Mohamed Maait called on Tuesday for easing the debts of developing countries by launching new consultations that “makes the debt crisis part of the solution”. Maait presented the “Sustainable Debt Coalition” to transform the debt burdens of developing countries into sustainable solutions for green recovery. The minister…

Publication of a major new United Nations report on climate change is being held up by a battle between powerful rich and developing countries over emissions targets and financial aid to vulnerable nations

Forty schools took in record £29m in 2020-21 from satellites, including in developing countries

UN Secretary-General Antonio Guterres has stressed the need to reform the global financial system and urged international financial institutions to devise ways to provide financing.