Pope says poverty can be beaten if rich play their part

Pope Francis insisted Wednesday poverty could be beaten if the world’s rich play a full part in ending inequality as he attended a conference on financial inclusion. (AFP)
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Updated 05 February 2020

Pope says poverty can be beaten if rich play their part

  • “The rich world and a prosperous economy can and must end poverty,” the Argentinian pontiff said
  • “People who are poor in indebted countries suffer from strong fiscal pressure and the cutting of social services,” Francis added

VATICAN CITY: Pope Francis insisted Wednesday poverty could be beaten if the world’s rich play a full part in ending inequality as he attended a conference on financial inclusion.
“We are neither condemned to inequality nor to paralysis in the face of injustice. The rich world and a prosperous economy can and must end poverty,” the Argentinian pontiff told participants as he made an unscheduled appearance.
“We must be conscious of all being responsible. If extreme poverty exists amid riches which are also extreme it is because we have allowed a gap to grow to become the largest in history,” said Francis, who has made inequality a central theme of his papacy.
Listening to his address were notably IMF Managing Director Kristalina Georgieva, French Finance Minister Bruno Le Maire and Argentine counterpart Martin Guzman.
“People who are poor in indebted countries suffer from strong fiscal pressure and the cutting of social services,” Francis added.
Calling for the “globalization of hope,” Georgieva responded that “the first task is to put the economy at the service of the people,” highlighting the need to address the issue of “inequality of opportunity.”
The International Monetary Fund head also urged investment in people and education. But she also stressed the need to prioritize the environment as “none of the economic challenges we face today will be important in 20 years if we do not today confront the challenge of climate change.”


Top Kazakh family wins court ruling on London mansions

Updated 21 sec ago

Top Kazakh family wins court ruling on London mansions

  • Evidence that Dariga Nazarbayeva and Nurali Aliyev had founded the companies that owned the properties and provided the funds to purchase them
  • Properties located across London, including one on a wealthy street known as Billionaires’ Row and another which campaign group Transparency International says is worth £31m

LONDON: The daughter and grandson of a former Kazakhstan president won a British court ruling Wednesday over plans to seize three multimillion-pound London properties from the family.
The UK’s National Crime Agency had obtained unexplained wealth orders (UWOs) against the luxury properties, said to be worth a total of around £80 million ($96 million), last May.
UWOs, brought into force in January 2018 under so-called “McMafia laws” — named after a BBC organized crime drama — allows the NCA to seize assets if they believe the owner is a “politically exposed person” and unable to explain the source of their wealth.
The NCA said the properties’ purchases were funded by Rakhat Aliyev, a former senior member of the Kazakh government who died in an Austrian prison in 2015 while awaiting trial on two charges of murder.
However, in a High Court judgment, given remotely, judge Beverley Lang overturned all three UWOs, ruling that “the NCA’s assumption” that Aliyev was the source of the funds to purchase the three properties was “unreliable.”
The ultimate beneficial owners of the three properties — Aliyev’s ex-wife, Dariga Nazarbayeva, the current chairwoman of the senate in Kazakhstan and daughter of former Kazakh president Nursultan Nazarbayev, and her son, Nurali Aliyev — had applied to the High Court to discharge the UWOs.
The judge added that there was “cogent evidence” that Nazarbayeva and Nurali Aliyev had founded the companies that owned the properties and provided the funds to purchase them.
Following the ruling, Nurali Aliyev said the NCA had carried out a “flawed investigation.”
“The NCA deliberately ignored the relevant information I voluntarily provided and pursued a groundless and vicious legal action, including making shocking slurs against me, my family and my country,” he said in a statement.
“Today we have been vindicated.”
The properties were located across London, including one on a wealthy street known as “Billionaires’ Row” and another which campaign group Transparency International says is worth £31 million.
A Nazarbayeva representative said the court decision left her “entirely vindicated” and showed she had “not been involved in any wrongdoing.”
“Dr. Nazarbayeva is also deeply disappointed that the NCA thought it appropriate to use the cloak of these court proceedings to make damaging attacks on her reputation and her country, unfairly insulting Dr. Nazarbayeva and her 18 million compatriots.”