International

IDB plans $11 billion in sustainable financing to support countries facing currency risks

The Inter-American Development Bank (IDB) aims to unlock at least $11 billion in sustainable financing to help countries address challenges including natural disasters that strain their currencies and hinder private sector investment.

As the United States and other wealthier countries reduce official development assistance, multilateral lenders face pressure to find new ways to tackle issues such as climate change and biodiversity loss. During the Fourth International Conference on Financing for Development, IDB President Ilan Goldfajn stated that the measures adopted by the IDB are expected to inspire more private sector contributions, which is a key priority of the conference.

“We are not just announcing ideas; we are launching what the private sector is asking for: credible tools, scalable platforms, and real opportunities to invest with impact and confidence,” he added.

Support will include a new platform designed to help countries manage the risk of large swings in their national currencies that can deter international investors by making returns harder to predict. Based on a program in Brazil that has already attracted $8 billion from the private sector since its launch last year, the plan is to expand the concept to other regional economies over the next three years and at least double the amount mobilized.

Called FX EDGE, the platform will offer a credit line that activates if a currency drops sharply—a common problem during political or debt crises or after natural disasters—ensuring debtors can continue to service their loans in dollars or other foreign currencies.

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The platform also aims to enable greater use of long-term currency hedging instruments, such as derivatives, through local banks and financial institutions, backed by the IDB’s credit rating.

International

Cuban authorities free salvadoran convicted in 1997 hotel bombing

Salvadoran national Otto René Rodríguez Llerena was released after serving a 30-year prison sentence for his involvement in a terrorist attack at a hotel in Cuba in 1997, the Cuban Ministry of Foreign Affairs reported.

During his trial, Rodríguez Llerena admitted to placing an explosive device at the Meliá Cohiba Hotel under the orders of anti-Castro exile leaders. He was arrested the following year when he returned to Havana with another load of explosives that failed to detonate.

“The Cuban government reiterates its commitment to combating terrorism, respecting human rights, and the need for the international community to hold accountable those who promote such acts,” the statement read.

He was released on August 15 and is the second Salvadoran to complete his sentence. In December of last year, another Salvadoran, Ernesto Cruz León, was released after planting bombs at tourist centers, one of which killed an Italian tourist identified as Fabio Di Celmo.

A third Salvadoran, Francisco Chávez Abarca, also received a 30-year sentence from Cuban courts in 2010 after being extradited from Venezuela through Interpol for actions against Cuba.

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Rodríguez Llerena had requested conditional release in 2016, arguing that his actions had not caused any direct fatalities, but no further information was released about his situation until now.

International

Peruvian woman arrested in Bali for smuggling cocaine in sex toy

A Peruvian woman was arrested on the popular Indonesian tourist island of Bali for allegedly attempting to traffic 1.4 kg of cocaine, part of which was hidden inside a sex toy in her vagina, police announced on Tuesday.

The 42-year-old woman, identified only by her initials N.S., arrived at Bali’s international airport from Qatar on August 12.

“Customs officers became suspicious of her behavior and, after consulting with the police, conducted additional checks,” said Radiant, head of Bali’s narcotics unit, during a press conference.

Authorities discovered 1.4 kg of cocaine, partly concealed in the sex toy. She was also accused of carrying dozens of ecstasy pills.

The Peruvian confessed to the police that she had been hired by a man she met in April on the dark web to transport the drugs to Indonesia in exchange for $20,000.

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Indonesia has some of the world’s strictest drug trafficking laws and imposes the death penalty on drug traffickers. Currently, more than 90 foreign nationals are on death row in the country for drug-related offenses, according to the Ministry of Immigration and Corrections.

In July, a court in Bali sentenced an Argentine woman to seven years in prison for attempting to smuggle 244 grams of cocaine into the island in a condom hidden in her vagina.

The last executions for drug trafficking in Indonesia occurred in 2016, when an Indonesian and three Nigerians were executed.

International

Trump says Russia open to security guarantees for Ukraine amid peace talks

U.S. President Donald Trump stated on Monday that Russia is willing to accept security guarantees for Ukraine as part of a potential peace agreement, during a meeting with Ukrainian President Volodymyr Zelensky and European leaders at the White House.

After the talks, Zelensky described the discussions as positive, while Trump took a moment to speak with his Russian counterpart, Vladimir Putin, and confirmed a trilateral summit between the U.S., Ukraine, and Russia.

Trump expressed optimism about the prospects of ending the Russian invasion.

Zelensky, who also held a separate meeting with Trump in the Oval Office, called the discussions with the U.S. leader “the best to date.” He emphasized the importance of “strong signals” from the United States regarding Western security guarantees.

The atmosphere between the two leaders was reportedly more relaxed than in February, when Trump and his vice president, J.D. Vance, publicly rebuked Zelensky for not appearing “grateful” for U.S. support.

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“In one or two weeks, we will know if we are going to resolve this or if this horrible fight will continue,” Trump said at the start of the meeting.

The presence of leaders from the United Kingdom, France, Germany, Italy, Finland, the European Commission, and NATO highlighted ongoing concerns about Washington’s stance on Ukraine.

Before the meeting, Trump had pressured Kyiv to relinquish Crimea and abandon its NATO membership ambitions, two of Moscow’s main demands. However, he stated that the Alaska summit with Putin had brought progress.

“I like the ceasefire. From another perspective, it immediately stops the killing. But I think a peace agreement at the end of all this is very achievable and could be reached in the near future,” Trump said.