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The International Monetary Fund was conceived 67 years ago, during World War II, in an effort to oversee the international monetary system after the war. This report by the U.S. government-funded Voice of America looks into the institution’s history and the challenges that lie ahead.

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The UN-backed trial of the top surviving members of Cambodia’s Khmer Rouge regime has finally gotten under way in Phnom Penh. The four defendants include the now 84-year-old Nuon Chea, or Brother Number 2, the chief ideologist behind Pol Pot’s “Killing Fields” revolution.

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The purchase and sale of carbon credits are relatively new concepts in Africa, accounting for less than three percent of the $144 billion global carbon credit trade. The system is designed to reduce carbon emissions worldwide by allowing projects that that produce low carbon emissions to sell credits to projects that want to reduce their carbon emissions under the Kyoto Protocol.

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Tax and customs fees collected on behalf of the Palestinian Authority are supposed to be used to pay wages. However, according to this report by the Russian government-owned news network Russia Today, Israel has refused to hand over the cash on several occasions, saying it could be used to fund terrorist attacks.

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Chinese factories are struggling as the export growth-rate slows down. Tough domestic conditions are also hitting their profits. They are facing high borrowing costs and high inflation. And this summer power is in short supply, with blackouts frequently interrupting their operations.

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