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Saturday, Nov 23rd

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Ukraine strikes deal to restructure $20bn of debt

Ukraine strikes deal to restructure debt Ukraine has struck a deal with international bondholders to restructure about $20bn of debt, boosting Kyiv’s drive to use private capital to finance its war effort against Russia.

President Volodymyr Zelenskyy’s government said on Monday that it won support from investors to reduce the face value of the debt by more than a third, paving the way for a formal restructuring in the coming weeks.

The agreement will replace a two-year moratorium on bond payments that was granted after Russia’s full-scale invasion of Ukraine in 2022 but was due to expire next month.

Ukraine sought debt relief as part of its conditions for continuing bailout loans from the IMF, which said it had endorsed Monday’s deal alongside backing from the US, UK and other allies that are financing Kyiv’s war effort.

Ukraine finalised terms last week during talks with a committee of bondholders, as well as other investors, which together own about a quarter of the debt.

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Anxiety at Aspen over Ukraine and Trump

Aspen Conference

America’s national security community made its annual pilgrimage to the mountains of Aspen in Colorado this week for a gathering notable for a looming feeling of anxiety.

One reason is that the world is more dangerous and contested than in previous years with war in Ukraine and the Middle East as well as tensions in Asia. But the issues discussed at the Aspen Security Forum also were overshadowed by political events that may define much of what happens next.

With Donald Trump accepting the US presidential nomination during the Republican National Convention in Wisconsin and questions over whether President Biden will be forced to stand aside, there was a concern that time may be running out not just for the current administration, but for the wider approach to foreign policy, which has guided America in recent years.

Allies are looking toward November's election with ''angst'' about how much they can continue to count on American leadership, Douglas Lute, a former ambassador to NATO said at the forum.

Specifically, anxiety surrounded the question of whether America’s support for Ukraine would continue.

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Far-Right Israeli Minister Visits Jerusalem Holy Site, Threatening Gaza Cease-Fire Talks

Itamar Ben-GvirIsrael’s far-right national security minister visited Jerusalem’s most sensitive holy site on Thursday, threatening to disrupt Gaza cease-fire talks.

Itamar Ben-Gvir, an ultranationalist settler leader, said he had gone up to the contested Jerusalem hilltop compound of Al-Aqsa Mosque to pray for the return of the hostages “but without a reckless deal, without surrendering.”

The move threatens to disrupt sensitive talks aimed at reaching a cease-fire in the 9-month-old Israel-Hamas war. Israeli negotiators landed in Cairo on Wednesday to continue talks.

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Israeli strikes in southern, central Gaza kill more than 60 Palestinians, including in ‘safe zone’

Israel hts central Gaza, killing 60Israeli airstrikes killed more than 60 Palestinians in southern and central Gaza overnight and into Tuesday, including one that struck an Israeli-declared “safe zone” crowded with thousands of displaced people.

Airstrikes in recent days have brought a constant drumbeat of deaths of Palestinians in the Gaza Strip, even as Israel has pulled back or scaled down major ground offensives in the north and south. Almost daily strikes have hit the “safe zone” covering some 60 square kilometers (23 square miles) along the Mediterranean coast, where Israel told fleeing Palestinians to take refuge to escape ground assaults. Israel has said it is pursuing Hamas militants who are hiding among civilians after offensives uprooted underground tunnel networks.

Tuesday’s deadliest strike hit a main street lined with market stalls outside the southern city of Khan Younis in Muwasi, at the heart of the zone that is packed with tent camps. Officials at Khan Younis’ Nasser Hospital said 17 people were killed.

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'Only by God's mercy that I survived': Hajj became a death march for 1,300 in extreme heat

Mecca pilgrimageThe annual Muslim pilgrimage to the sacred city of Mecca that wrapped up last week became a death march for over 1,300 Hajj participants who died in temperatures that climbed above 124 degrees.

Saudi Arabia's health minister Fahad Al-Jalajel, who on Sunday announced a death total of 1,301, blamed the fatalities on pilgrims "walking long distances under direct sunlight without adequate shelter or comfort."

The 5-6 day odyssey of hiking and prayer drew almost 2 million pilgrims from around the world. Fatalities included a number of elderly people and those suffering from chronic diseases, A-Jalajel said. About  83% of the fatalities were among people who were not authorized to make the pilgrimage, he said.

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Thousands Of Starving Children In Southern Gaza Cut Off From Care, Says UNICEF

Starving children in GazaThousands of starving Palestinian children in southern Gaza are at risk of “dying before their families’ eyes,” according to the United Nations — a stark warning as Israel’s continued assault on Rafah cuts off access to the region’s health care facilities and life-saving treatment for malnutrition.

The nearly 3,000 affected children make up about three-quarters of the Palestinian youth in southern Gaza who were estimated to have been receiving care for moderate to severe acute malnutrition before Israel expanded its military offensive into Rafah, according to reporting from nutrition partners working with the United Nations Children’s Fund, or UNICEF.

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US proposal for cease-fire in Gaza gets UN Security Council backing with 14-0 vote

Security Council endorses cease-fire proposal

The Biden administration's proposal for a cease-fire in Gaza received the United Nations' endorsement Monday when the Security Council voted 14-0 in favor of a resolution supporting the plan, with only Russia abstaining but not vetoing. Still, acceptance by the warring parties remains elusive.

The U.S. drafted the measure and finalized it Sunday after six days of negotiations among council members. The three-stage proposal would bring about an immediate stop in the fighting between Israel and Hamas, along with the release of hostages in exchange for Palestinians prisoners.

Israeli Prime Minister Benjamin Netanyahu has expressed misgivings about the version of the plan President Joe Biden made public May 31, though the White House has said Israel was involved in crafting it. Netanyahu is under pressure from the far-right flank of his governing coalition to continue the war, and in addition to the truce the proposal calls for the withdrawal of Israeli troops from Gaza and, in the second phase, a permanent end to the conflict.

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