HUMAN WRONGS WATCH

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Saudi Arabia’s Crown Prince Mohammed bin Salman (center) heads a meeting of the Council of Economic Affairs and Development in Jeddah, Kingdom of Saudi Arabia on May 29, 2018. The council is responsible for oversight of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF). © 2018 Balkis Press/ABACA/Shutterstock

(Beirut) – Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has facilitated and benefited from human rights abuses, Human Rights Watch said in a report released on 20 November 2024.

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Human Wrongs Watch

By Jomo Kwame Sundaram

KUALA LUMPUR, Malaysia, Nov 19 2024 (IPS)* – Western financial policies have been squeezing economies worldwide. After being urged to borrow commercial finance heavily, developing countries now struggle with contractionary Western monetary policies.

Central banks
‘Unconventional monetary measures’ in the West helped offset the world economic slowdown after the 2008 global financial crisis.

Jomo Kwame Sundaram

Higher interest rates have worsened contractions, debt distress, and inequalities due to cost-push inflation triggered by ‘geopolitical’ supply disruptions.

Western central bank efforts have tried to check inflation by curbing demand and raising interest rates. Higher interest rates have worsened contractionary tendencies, exacerbating world stagnation.