Author: AsiaOne

On Wednesday, Prime Minister Narendra Modi and Greek Prime Minister Kyriakos Mitsotakis agreed to enhance collaboration in defence manufacturing, space, and connectivity.

They discussed the Migration and Mobility Partnership Agreement, emphasising cooperation in defence, cybersecurity, counter-terrorism, and maritime security. A Working Group will enhance mutual coordination, fostering co-production and co-development opportunities in defence manufacturing. Both nations share concerns about terrorism, aiming to strengthen cooperation in this area.

They explored bolstering connectivity, including the India-Middle East-Europe Economic Corridor, and planning to encourage private sector-driven bilateral flight services. Modi expressed pleasure in progressing towards doubling bilateral trade by 2030, identifying prospects in agriculture, pharma, technology, and space. They discussed connecting startups, prioritising shipping and connectivity, and fostering collaboration in these areas.

Highlighting India and Greece as ancient civilizations, Modi emphasised deep cultural ties, planning to celebrate the 75th anniversary of diplomatic relations with an Action Plan. The leaders discussed regional and global issues, advocating dialogue and diplomacy for conflict resolution.

Greece’s participation in the Indo-Pacific Oceans Initiative was welcomed, and Modi expressed joy over Greece’s decision to join. The Indo-Mediterranean Economic Corridor (IMEC), launched during India’s G-20 chairmanship, is seen as contributing significantly to global development.

The visit reciprocated Modi’s earlier trip to Greece, highlighting the growing collaboration between the two nations.

On Wednesday, G20 ministers gathered in Rio de Janeiro to address pressing global conflicts and governance challenges in preparation for the annual leaders’ summit chaired by Brazil’s President Luiz Ignacio Lula da Silva.

Lula has emphasised that the G20’s top priority this year should be tackling climate change, reorganising global governance, and reducing poverty. Yet, there are still several active conflicts in the region, such as the tensions in Gaza and Russia-Ukraine, which makes it difficult to move forward with governance reforms in the biggest economies in the world.

Brazil has made a strong case for the extension of the Security Council and has been outspoken in its support for UN reform. However, veto-holding countries’ opposition has hampered progress and exposed significant differences between member states on UN reforms.

Diplomats can express their concerns and start conversations about multilateral reform during the Rio gathering. President Lula’s recent deterioration of diplomatic relations with Israel over his criticism of the UN’s handling of the Israel-Palestine problem served as a reminder of the complexity of international disputes.

In total, the G20 countries account for about two-thirds of the world’s population, over 75% of global trade, and 85% of global GDP.

The Biden administration recently cancelled another $1.2 billion in student debt for over 150,000 borrowers under its income-based repayment plan. This brings the total amount of debt relief that Biden has approved for almost 4 million Americans to $138 billion.

Eligible borrowers will have their debts cancelled soon, with notices already sent by email. Despite initial delays, the Education Department accelerated the forgiveness process through the Savings on a Valuable Education (SAVE) plan. To qualify, borrowers must be enrolled in SAVE and repay for at least 10 years on a federal student loan of $12,000 or less.

Biden’s student debt relief efforts are part of his reelection strategy, despite opposition from Republicans and legal challenges. He attributes setbacks to “MAGA Republicans in Congress” and “special interests.” Republicans, like Sen. Bill Cassidy, criticise the move as unfair vote-buying.

Biden argues that debt cancellation benefits everyone by enabling borrowers to invest in homes, businesses, and communities. He emphasises its economic growth potential. At a California event, Biden was praised by Dr. Jessica Saint-Paul, whose $144,652 student loans were forgiven after 18 years of payments, illustrating the program’s life-changing impact.