International

Nearly 8-mn in LatAm risk food insecurity: UN body

AFP

A sharp economic slowdown and rising inflation threatens to swell the ranks of food insecure people in Latin America and the Caribbean by nearly eight million, a UN body said Monday.

Poverty will increase in 2022, with average annual economic growth of 1.8 percent following on 6.3 percent registered last year, the UN Economic Commission for Latin America and the Caribbean (ECLAC) said in a report.

The commission had earlier forecast growth of 2.1 percent for the region in 2022, but adjusted the figure downward due to the inflationary effects of Russia’s war on Ukraine.

“The region confronts domestic contexts marked by a sharp economic slowdown, rising inflation and a slow and incomplete recovery of labor markets, which will increase poverty and extreme poverty levels,” it said.

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“As a result, 7.8 million people are forecast to join the 86.4 million others whose food security is already at risk.”

The commission said annual inflation rose to 8.1 percent in April from 6.6 percent by the end of 2021, and was forecast to remain high.

Combining the effects of slow growth and fast inflation, especially food inflation, levels of poverty and extreme poverty will rise, said the ECLAC.

“The incidence of regional poverty is seen reaching 33.7 percent (1.6 percentage points above the value projected for 2021), while extreme poverty is seen rising to 14.9 percent (1.1 percentage points more than in 2021).”

“These levels are markedly higher than those seen before the pandemic and entail another setback in the fight against poverty.”

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The commission urged the adoption of monetary policy that will limit inflation, as well as a focus on food security.

“International trade in food and fertilizers should not be restricted since doing so would accelerate inflation and hurt those who are poorest,” it said.

“Officials must also consider measures such as maintaining or increasing food subsidies, implementing agreements with producers and marketing chains to contain prices of items in the basic food basket, and reducing or eliminating tariffs on imports of grains and other basic products.”

International

Gates Foundation to close by 2045 as Bill Gates pledges to donate $200 Billion

When Bill and Melinda French Gates established the Gates Foundation in 2000, they envisioned an organization that would continue its work for decades after their deaths. But now, Microsoft co-founder Bill Gates says he doesn’t want to wait that long to give away most of his fortune.

On Thursday, Gates announced that he plans to donate “virtually all” of his estimated $200 billion fortune over the next 20 years and will dissolve the foundation on December 31, 2045.

The announcement comes amid deep cuts by the Trump administration to funding for health, foreign aid, and public assistance programs — the very causes the Gates Foundation supports. The shift raises concerns about setbacks in global health research and critical development initiatives.

Gates says he wants to accelerate the foundation’s work in global health and equity, and hopes the move will inspire other billionaires to follow suit. In a blog post published Thursday morning, he emphasized that the foundation’s final phase should serve as a model for large-scale philanthropic impact.

This new pledge builds on Gates’s long-standing commitment to philanthropy. Alongside French Gates and Warren Buffett, he co-founded the Giving Pledge in 2010, which encourages billionaires to donate the majority of their wealth either during their lifetimes or in their wills. The campaign now has more than 240 signatories worldwide.

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International

Bill Gates accuses Elon Musk of endangering the world’s poorest children

Bill Gates, co-founder of Microsoft turned global health philanthropist, sharply criticized Elon Musk in a recent interview with The New York Times, saying the tech billionaire is “the richest man in the world and is involved in the deaths of the world’s poorest children.”

At 69, Gates announced that the Bill & Melinda Gates Foundation will cease operations by 2045, and he urged the next generation of billionaires to step up. However, he expressed concern that today’s wealthy individuals are less committed to humanitarian work than they were two decades ago.

He cited Elon Musk as a prime example: “He’s the one who cut the USAID budget. He shredded it — all because he didn’t attend some party that weekend.”

Gates argued that Musk “could have been a great philanthropist,” but instead, “the richest man in the world is now contributing to the deaths of the world’s poorest children.” He pointed to how cuts to USAID have disrupted essential programs fighting HIV, malaria, and polio.

Gates called on the global elite to do more: “It’s not that we’re running out of rich people. There will be more, and they’ll reflect on what AI has done — or hasn’t — and what governments have done — or haven’t.”

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Looking ahead, he urged future billionaires to commit to greater philanthropy, especially as his own foundation phases out: “The rich of today should do more. The rich twenty years from now should do more.”

Despite his criticisms, Gates maintained his trademark optimism. He dismissed fears that repeated U.S. administrations will continue cutting humanitarian budgets: “I don’t think there will be administration after administration slashing these things. If we look 20 years ahead, I believe we’ll continue reducing child mortality.”

Gates also expressed faith in artificial intelligence, suggesting it can provide medical expertise in remote regions on par with doctors with decades of experience — potentially even better than what’s available in wealthy countries.

International

VP JD Vance to World Cup visitors: “Enjoy the game, then go home”

U.S. Vice President JD Vance issued a light-hearted but firm warning to international visitors planning to attend the 2026 FIFA World Cup, which will be co-hosted by the United States, Canada, and Mexico.

“We know we’ll have visitors, probably from close to a hundred countries. We want them to come. We want them to celebrate. We want them to enjoy the games,” said Vance during a press conference on Tuesday focused on the organization of upcoming major sporting events in the U.S.

“But when it’s over, they’ll have to go home,” he added.

Vance, speaking in a joking tone, also mentioned Homeland Security Secretary Kristi Noem, saying, “Otherwise, they’ll have to speak with Secretary Noem.”

The comment came during the first joint working session aimed at preparing for the 2026 World Cup, which will feature 48 national teams and take place across multiple cities in North America.