International

Climate change could cause 216 million to migrate, World Bank warns

AFP

Reduced agricultural production, water scarcity, rising sea levels and other adverse effects of climate change could cause up to 216 million people to migrate within their own countries by 2050, the World Bank warned Monday.

The Washington-based development lender had released a report in 2018 covering climate change’s effects on migration in South Asia, Latin America and sub-Saharan Africa, and projected 143 million people could move in those regions by 2050.

The latest report includes three new regions — Eastern Europe and Central Asia, North Africa and East Asia and the Pacific — to provide a “global estimate” of the scale of potential migration, said Juergen Voegele, the World Bank’s vice president for sustainable development.

“It’s important to note that this projection is not cast in stone,” he said.

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“If countries start now to reduce greenhouse gases, close development gaps, restore vital ecosystems and help people adapt, internal climate migration could be reduced by up to 80 percent — to 44 million people by 2050.”

However, without decisive actions, there could be “hotspots” of climate migration that “will emerge as soon as within the next decade and intensify by 2050, as people leave places that can no longer sustain them and go to areas that offer opportunity,” he warned.

This trend could have significant implications for host countries, which are often unprepared to cope with these migration flows.

“The trajectory of internal climate migration in the next half-century depends on our collective action on climate change and development in the next few years,” Voegele said.

“Not all migration can be prevented and… if well managed, shifts in population distribution can become part of an effective adaptation strategy, allowing people to rise out of poverty and build resilient livelihoods.”

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The bank estimates that by 2050, internal migrants due to climate change could hit 86 million in sub-Saharan Africa, 49 million in East Asia and the Pacific, 40 million in South Asia, 19 million in North Africa, 17 million in Latin America and five million in Eastern Europe and Central Asia.

International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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International

Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.