Fossil Fuel Industry Subsidized at Rate of $11 Million Per Minute, IMF Finds
Fossil fuel subsidies trigger a vicious circle that leads to higher production, higher consumption, and higher emissions.
Fossil fuel subsidies trigger a vicious circle that leads to higher production, higher consumption, and higher emissions.
But nobody thought that it would happen this fast.
The International Monetary Fund approved $500 million on Monday to cancel six months of debt payments for 25 of the world’s most impoverished countries so they can help tackle the COVID-19 pandemic.
Honduras has been the epicenter of the Central American exodus and northward migration since the U.S.-backed coup 10 years ago and the ultra-violent repression by President Juan Orlando Hernandez’s regime, as well as its ultra-neoliberal policies.
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