Latest news with #Confronting
Business Recorder
2 days ago
- Business
- Business Recorder
Developing states' debt service tops $921bn: UN
UNITED NATIONS: Debt service payments by developing countries soared by $74 billion in 2024, ie, from $847 billion to $921, according to a new UN report, which points out that two-thirds of the low income nations are either in debt distress or at a high risk of it. The report, 'Confronting the Debt Crisis: 11 Actions to Unlock Sustainable Financing,' was launched on Friday by UN Deputy Secretary-General Amina Mohammed. Mohammed was joined by experts Mahmoud Mohieldin and Paolo Gentiloni, along with Rebeca Grynspan, Head of the UN Conference on Trade and Development (UNCTAD). Debt and climate — I 'Borrowing is critical for development,' Ms Mohammed said, but today, 'borrowing is not working for many developing countries, over two-thirds of our low income countries are either in debt distress or at a high risk of it.' The report showed a 'silent crisis' of surging debt service payments in low-income countries and charted the path out of the debt crisis threatening global development. Ms Mohammed regretted that a decade after the adoption of the Sustainable Development Goals (SDGs), development was facing serious headwinds. On her part, Grynspan warned that the crisis was accelerating. The report showed more than 3.4 billion people now live in countries that spend more on interest payments than on health or education, 100 million more than previous year. 'The nature of this crisis is mostly connected to the increase of debt servicing costs,' Gentiloni explained. 'Practically, the debt services costs doubled in the last 10 years.' Prepared by the UN Secretary-General's Expert Group on Debt, the report reinforced the commitments put forward in the 'Compromiso de Sevilla', which is the outcome document of the Fourth International Conference on Financing for Development – taking place in Sevilla, Spain, next week. The report outlines 11 actions that are both technically feasible and politically viable. Mohieldin explained that the recommendations fall under two key goals: providing meaningful debt relief and preventing future crises. It identified three levels of action including repurpose and replenish funds to inject liquidity into the system, with targeted support for low-income countries at the multilateral level. The other is establishing a platform for borrowers and creditors to engage directly at the international level: At the national level, the report recommended strengthening institutional capacity, improving policy coordination, managing interest rates and bolstering risk management. 'These are 11 proposals that are doable and that only need the political will of all the actors to be able to make them real,' Grynspan stressed.
Associated Press
18-04-2025
- Business
- Associated Press
TheLotter CEO Advocates for Clear Regulation During ECGC Panel on Gaming's Future
ATLANTIC CITY, N.J., April 18, 2025 /PRNewswire/ -- TheLotter Group CEO Yael Hertz was a featured panelist at the 28th Annual East Coast Gaming Conference (ECGC). Yael Hertz brings over a decade of expertise at the intersection of online gaming, financial services, and regulatory strategy. Hertz brought a unique perspective to the ECGC panel, 'Future Shock: Confronting Unprecedented Changes in Gaming', which explored how regulators, operators and suppliers in the gaming industry are adapting to transformative shifts impacting everything from licensing to market share and beyond. During the ECGC panel discussion, Hertz expressed the importance of regulatory framework and guidelines for lottery couriers being set forth by each state. She highlighted how having a clear regulatory framework helps everyone move forward with confidence — pointing to New Jersey and New York as a great example of effective collaboration between operators and regulators. As a leader in the lottery courier industry, TheLotter believes that real innovation starts with truly understanding the customers. Or as Hertz put it: 'When you understand the pain points and solve them in a way that builds trust, that's how you create meaningful, competitive offerings.' 'I'm excited to have been part of a panel that pushes the conversation forward in an industry that's constantly evolving,' said Hertz. 'Events like ECGC create invaluable opportunities for regulators, operators, and suppliers alike to come together and shape the future of gaming.' Since taking the helm at TheLotter Group in 2023, Hertz has spearheaded a strategic transformation within the company, with a strong focus on penetrating the U.S. market. Under her leadership, The Lotter Group secured its first U.S. licenses in New Jersey and New York and is actively pursuing additional state licenses as part of its expansion roadmap. Lloyd Levenson, co-founder of the ECGC, felt that it was essential to include TheLotter Group at this year's East Coast Gaming Conference, stating: 'Their insights offer a fresh and dynamic perspective on the evolving gaming landscape —from navigating complex regulatory hurdles to identifying new opportunities for growth in the Lottery Courier space.' TheLotter offers a modern solution to the lottery experience while also dedicating significant effort to upholding responsible gaming standards, such as self-exclusion and spend limits, which are difficult to implement in the retail environment. In addition, TheLotter collaborates with local retailers to fulfill online ticket orders, generating increased revenue for local businesses. At the same time, they make substantial marketing investments which help to raise awareness and drive engagement with state lotteries. By integrating technology, responsible gaming, and community partnership, TheLotter is helping strengthen the state lottery's ecosystem and increase funding for essential state-supported programs, such as education, veterans' services, and public infrastructure. TheLotter has been, and will continue to be active in lobbying each state to establish the regulatory framework necessary to promote transparency, responsibility, and growth—benefiting both customers and the state. About theLotter US: TheLotter US is a lottery courier service that provides US residents the opportunity to order official lottery tickets online, offering a secure and convenient way to participate in state lotteries. Lottery draw game tickets are purchased on a customer's behalf at a fully vetted and licensed lottery retailer. All prizes are paid out by the official state lotteries. Must be 18+ (21+ in AZ). GAMBLING PROBLEM? Call 800-GAMBLER®. Residents of NY call HOPEline at 877-8-HOPENY (1-877-846-7369) or text HOPENY (467369). OR call 877-MYLIMIT. View original content: SOURCE TheLotter US
