International

Ecuador expands sea life protections around Galapagos

AFP

Ecuador created a massive new marine reserve Friday north of its Galapagos islands, forming a Pacific corridor up to Costa Rica’s Cocos Island National Park to preserve species of migratory fauna, such as sharks.

President Guillermo Lasso, on board a scientific vessel from the Galapagos National Park (PNG) anchored in the bay of Puerto Ayora off Santa Cruz Island, signed the decree creating the new reserve called “Hermandad” (Brotherhood).

To mark the opening of the marine reserve, he then cut a ribbon made out of materials collected during coastal cleanups conducted in the Galapagos.

The new reserve is incorporated into the 138,000 square kilometers (50,200 square miles) of reserve that have existed since March 1998.

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So the archipelago that inspired English naturalist Charles Darwin has now expanded to an impressive 198,000 square kilometers of protected marine area.

The Galapagos marine reserve, in which industrial fishing is prohibited, is the second-largest in the world. More than 2,900 marine species have been reported within the archipelago, which is a Natural World Heritage Site.

Authorities are planning for protected areas in adjacent Colombia and Panama to join later, creating an international marine biosphere reserve.

The leaders of those two countries also signed the decree along with Lasso.

Lasso announced the expansion of the Galapagos marine reserve, which has unique flora and fauna and fragile ecosystems, in November in Glasgow, on the occasion of the COP 26 climate summit.

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The project was in exchange for a reduction in Ecuador’s international debt.

– A ‘clear message’ –

The creation of the “Brotherhood” reserve is a “clear message for the world,” said Lasso Friday, describing it as a “new relationship with the Earth, a new understanding of what constitutes progress for humanity.”

Colombian President Ivan Duque and former US president Bill Clinton attended the event, together with government officials from Costa Rica and Panama.

Duque said that eventually adding Colombia’s Malpelo islands and Panama’s Coiba islands to the vast marine reserve will allow for the migration of species such as sea turtles, whales, sharks and manta rays.

This new reserve “will guarantee the survival of 40 percent of the world’s marine species,” Duque said.

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“We may be a small territory… but the planet is also ours,” said Lasso.

“The seas are great regulators of the global climate,” he said, adding that “taking care of them is not naive idealism, it is a vital necessity.”

Located in the Pacific some 1,000 kilometers (600 miles) off the coast of Ecuador, the Galapagos Islands are a protected wildlife area and home to unique species of flora and fauna.

The archipelago was made famous by British geologist and naturalist Charles Darwin’s observations on evolution there.

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International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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International

Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.