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FM Sitharaman to embark on six-day visit to Spain, Portugal and Brazil
Ruchika Chitravanshi New Delhi
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Hindustan Times
8 hours ago
- Hindustan Times
As USAID stops foreign aid, Marco Rubio says future US assistance will be limited
The US Agency for International Development will on Tuesday officially stop implementing foreign aid, Secretary of State Marco Rubio said, adding that America's assistance in the future will be targeted and limited. Marco Rubio said the US was abandoning what he called a charity-based model and would focus on empowering countries to grow sustainably.(File/AFP) In a statement marking the transfer of USAID to the State Department as part of President Donald Trump's unprecedented push to shrink the federal government, Rubio said the US was abandoning what he called a charity-based model and would focus on empowering countries to grow sustainably. "We will favor those nations that have demonstrated both the ability and willingness to help themselves and will target our resources to areas where they can have a multiplier effect and catalyze durable private sector, including American companies, and global investment," the top US diplomat wrote. This new model, he wrote, would prioritize trade over aid and investment over assistance, adding it would put Washington in a stronger place to counter Beijing. The Trump administration has frozen and then cut back billions of dollars of foreign aid since taking office, saying it wants to ensure US taxpayer money goes only to programs that are aligned with Trump's "America First" policies. The cutbacks have effectively shut down USAID, leading to the firing of thousands of its employees and contractors. That jeopardized the delivery of life-saving food and medical aid and has thrown global humanitarian relief operations into chaos. According to research published in The Lancet medical journal, deep funding cuts to USAID and its dismantling could result in more than 14 million additional deaths by 2030. Human rights experts and advocates have warned against the cuts. USAID funding has had a crucial role in improving global health, primarily directed toward low- and middle-income countries, particularly African nations, according to the study. Reuters reported on Tuesday that the administration canceled a major contract to supply emergency kits for rape survivors in eastern Democratic Republic of the Congo as violence surged there this year, leaving thousands without access to life-saving medication, the United Nations and aid groups said. INVESTMENT AND TRADE DEALS USAID was established in 1961 by Democratic President John F. Kennedy at the height of the Cold War with the aim of better coordinating foreign assistance, already a key platform of US foreign policy in countering Soviet influence. Washington has been the world's largest humanitarian aid donor, amounting to at least 38% of all contributions recorded by the United Nations. It disbursed $61 billion in foreign assistance last year, just over half of that via USAID, according to government data. Among the programs affected by the cuts is the President's Emergency Plan for AIDS Relief (PEPFAR), the world's leading HIV/AIDS initiative. Sub-Saharan Africa remains the epicenter of the AIDS pandemic. Trump's cuts have restricted the availability of drugs that millions of Africans have taken to prevent infection - particularly vulnerable communities such as gay men and sex workers - as aid groups and public health systems in Africa strove to roll back the disease. Trump has said the US pays disproportionately for foreign aid and he wants other countries to shoulder more of the burden. A senior State Department official briefing reporters on the condition of anonymity described the USAID model as "failed engagement" that did not reduce the dependency of foreign countries on the United States, and he said other nations will need to step up. "We want to see more investment from our partners, co-investment," the official said. "We want to see trade deals, compacts, agreements to work together on stuff." The shuttering of USAID drew a rare rebuke from former presidents George Bush and Barack Obama who joined a closed video conference event with the USAID community, the Associated Press reported on Monday. "Gutting USAID is a travesty and it's a tragedy. Because it's some of the most important work happening anywhere in the world," Obama was quoted as saying.


India Gazette
11 hours ago
- India Gazette
India's tax reforms, digital push have increased revenue, cut compliance costs: FM Sitharaman
New Delhi [India], July 1 (ANI): Union Finance and Corporate Minister Nirmala Sitharaman on Tuesday said that India's tax reforms and digital transformation in tax administration have increased revenue and reduced compliance costs. Speaking at the Third Plenary Meeting during the #FFD4 in Seville of Spain, the Finance Minister said, 'We support international cooperation to modernise tax systems and curb illicit financial flows. India's comprehensive tax reforms and digital transformation in tax administration have increased revenue and reduced compliance costs.' 'We believe that optimal regulation fosters innovation and stability. The Indian financial system promotes inclusivity through easier credit and lower compliance costs, especially for MSMEs. We have developed a dynamic ecosystem for start-ups and PPPs in infrastructure,' she added. Finance Minister added that India supports reforms to the international financial architecture to enhance inclusivity and equity, including Multilateral Development Banks (MDBs) reforms and fairer credit rating systems. She added that MDB lending must be aligned with long-term development goals and backed by robust monitoring frameworks to ensure that funds are used as intended. Sitharaman in her address added that the country has consistently placed people at the centre of its development strategy. 'Through targeted policy interventions, we have lifted 250 million people out of multidimensional poverty, and empowered communities through inclusive Digital Public Infrastructure (DPI),' she added. However, for robust global growth, national efforts must be complemented by an enabling international environment, the Union Finance Minister asserted. Going further, she said, 'We remain committed to South-South and Triangular Cooperation. We support the call for a reversal in the decline of ODA, and urge developed countries to enhance climate finance that is predictable, accessible, and concessional, particularly for adaptation in vulnerable countries.' 'In the spirit of India's civilizational ethos - 'Vasudhaiva Kutumbakam' or 'The World is one family' - we must unite in our efforts to drive meaningful change that benefits all,' FM stated. 'We are meeting here in Seville, a decade after the adoption of the Addis Ababa Action Agenda, acknowledging the progress made by nations in navigating complex global landscapes, and finding ways to address current challenges that continue to stand in the way of financing global development goals. With many SDG targets off track and a financing gap exceeding USD 4 trillion annually for developing countries, the need for urgent and transformative action is clear,' Finance Minister further added. (ANI)

Time of India
12 hours ago
- Time of India
Jaishankar's Savage Declaration Of War At QUAD Meeting: ‘India Will Defend Its People'
'You'll Hear From Trump Soon' US India Trade Deal Almost Ready, Trump Modi Ties Key To Breakthrough Big news from Washington! The United States and India are on the verge of finalising a major trade agreement, according to White House Press Secretary Karoline Leavitt. Speaking just hours after President Trump reiterated optimism about a deal, Leavitt confirmed that talks are in the final stages and an official announcement is expected soon. Trump is pushing for a 'full trade barrier dropping' and improved market access, something he calls 'unthinkable'. Leavitt also praised India as a strategic ally and highlighted Trump's strong personal rapport with Prime Minister Modi. Meanwhile, India's External Affairs Minister S Jaishankar is in the US, attending the QUAD Foreign Ministers' Meeting and launching a UN exhibition on terrorism. With both diplomacy and trade firing on all cylinders, India-US relations are heating up fast.#trump #usindiatradedeal #modi #karolineleavitt #quad #jaishankar #indo-pacific #unitednations #moditrump #usindiarelations #toi #toibharat #bharat #breakingnews #indianews 2.5K views | 12 hours ago