Kenyans protest against inflation and the cost of living, especially higher prices of basic foodstuffs, in downtown Nairobi, Kenya, July 7, 2022.

The global economic situation is dire, particularly for low- and middle-income countries. Yet, when it comes to solutions, relatively little thought has gone to the role that might be played by international financial institutions and tools—like debt relief—that could support countries in their fight against inflation.

Colombia president Gustavo Petro speaks to supporters in Bogota.

On Aug. 7, a multi-ethnic and socially diverse crowd witnessed the historic inauguration of modern Colombia’s first leftist president, Gustavo Petro, and its first Afro-Colombian and woman vice president, Francia Marquez. Petro now faces the enormous challenge of meeting their expectations and making good on his campaign promises.