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IMF Welcomes EU’s €90 Billion Loan to Ukraine, Work on Financing Continues

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The International Monetary Fund (IMF) welcomed the European Union’s decision to lend €90 billion ($105 billion) to Ukraine over the next two years, calling it a key step toward closing financing gaps and restoring debt sustainability. The EU opted to borrow funds for this loan rather than use frozen Russian assets, providing crucial support to Ukraine, which has relied heavily on donor aid since Russia’s full-scale invasion in 2022 disrupted its economy.

The IMF has highlighted that additional measures are needed before approving Ukraine’s new $8.1 billion lending programme. These include implementing a program-consistent budget for 2026, broadening the tax base, promoting anti-corruption reforms, and securing financing assurances from international donors. The Fund estimates Ukraine will need around €135 billion ($158.57 billion) for 2026–2027, with the interest-free EU loan covering roughly two-thirds of these needs.

Despite the new financial support, Ukraine faces ongoing economic pressures as the war continues to drain resources. Finance Minister Sergii Marchenko emphasized the importance of implementing a Reparations Loan, while the country plans to allocate about 27% of its GDP, or 2.8 trillion hryvnias, to defence spending in 2026. The IMF reaffirmed its commitment to working with international donors to ensure sustainable financing for Ukraine.

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Rome to Charge Tourists to Get Close to Trevi Fountain

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Starting February 1, tourists who wish to step onto the stone steps surrounding Rome’s iconic Trevi Fountain will be required to pay a two-euro fee, Mayor Roberto Gualtieri announced on Friday. The new measure aims to manage tourist crowds more effectively while generating an estimated 6.5 million euros annually. Residents of Rome will continue to have free access, while the surrounding square offering views of the fountain will remain open to all.

The Trevi Fountain, completed in 1762, is a late Baroque masterpiece featuring Oceanus, the god of all water, and symbolises the moods of seas and rivers worldwide. Known for the tradition of tossing coins to ensure a return to Rome, the fountain has drawn millions of visitors each year, including world leaders. This year alone, it has already received nine million visitors, highlighting the challenge of overcrowding that the new fee aims to address.

The move is part of a broader trend in Italy to monetise cultural attractions. Alongside the Trevi Fountain, five lesser-known sites in Rome will begin charging five euros for entry starting February. Similar initiatives have been introduced in other Italian cities, including Venice, which charges peak-season entry fees, and Verona, where visitors must pay to access Juliet’s balcony, reflecting the growing effort to maintain and profit from the nation’s historic sites.

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German Economic Recovery to Begin Slowly, Says Bundesbank

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Germany’s economic recovery after three years of stagnation is expected to begin slowly next year before gaining momentum later, according to the Bundesbank’s latest biannual economic projections. Europe’s largest economy has struggled since 2023 due to a weakened industrial sector, subdued consumer spending and restrained government expenditure. A turnaround began this year after Chancellor Friedrich Merz eased spending rules and announced higher outlays on defence and infrastructure.

Bundesbank President Joachim Nagel said growth would remain modest at first but strengthen from the second quarter of 2026, supported by increased government spending and a revival in exports. The central bank now forecasts economic growth of 0.2% in 2025, an improvement from its earlier expectation of stagnation, while growth in 2026 is projected at 0.6%, slightly below its previous estimate.

Inflation projections, however, have been revised sharply higher due to faster-than-expected wage growth. The Bundesbank warned that strong wage increases, driven by low unemployment and labour shortages, could persist for years. Consumer price inflation is now expected to reach 2.2% in 2025, up from an earlier forecast of 1.5%, influencing the European Central Bank’s decision to raise its own euro zone inflation outlook and maintain a cautious policy stance.

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Hackers Use AI-Generated Decoys to Target Russian Defense Firms

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Russian technology and defense-linked companies have been targeted in recent weeks by a cyber espionage campaign that used AI-generated decoy documents, according to cybersecurity firm Intezer. The operation focused on firms involved in air defense systems, sensitive electronics and other military applications, highlighting how accessible AI tools are increasingly being leveraged in sophisticated hacking efforts.

Researchers attribute the campaign to a hacking group known as “Paper Werewolf,” also tracked as GOFFEE, which has been active since 2022 and is widely believed to be pro-Ukrainian. The group reportedly used fake documents—such as invitations to concerts for senior officers and official-looking requests from Russian ministries—to trick targets into opening malicious files. Analysts say the campaign offers rare visibility into cyber espionage operations aimed at Russian entities, which are often difficult to observe.

Experts note that while such attacks are not unusual amid the ongoing Russia-Ukraine war, the use of AI-generated content significantly lowers the barrier to executing complex cyber operations. The targeting of major defense contractors suggests an interest in Russia’s military production, supply chains and research activities. While Intezer linked the operation to Paper Werewolf based on technical indicators, it remains unclear whether the hackers were working directly with a nation-state or collaborating with other pro-Ukrainian cyber groups.

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EU Approves €90 Billion Loan for Ukraine, Sidesteps Use of Frozen Russian Assets

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European Union leaders have agreed to provide Ukraine with a €90 billion loan to support its military and economic needs over the next two years, following intense negotiations at a summit in Brussels. The funding will be backed by the EU’s common budget after member states failed to reach consensus on using frozen Russian assets. European Council President Antonio Costa said the deal demonstrated unity and commitment, calling it a delivery on promises made to Kyiv.

Ukrainian President Volodymyr Zelensky had pushed for the use of around €200 billion in frozen Russian assets, most of which are held in Belgium. However, concerns over legal risks and liability-sharing prevented agreement, with Belgium seeking guarantees that other EU countries were unwilling to provide. While expressing gratitude for the loan, Zelensky stressed that Russian assets should remain immobilised and said the support would significantly strengthen Ukraine’s resilience at a critical time.

The loan offers a vital lifeline as Ukraine faces a looming cash crunch, with EU estimates suggesting the country needs €135 billion over the next two years and could begin running short of funds by April. European leaders said the agreement avoided division within the bloc, while Germany’s Chancellor said it sent a strong signal to Moscow. The decision comes amid renewed diplomatic efforts, including upcoming US-Russia talks and continued discussions between Ukrainian and US officials on security guarantees.

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Australia’s ‘Bondi Hero’ Receives $1.65 Million Raised by Global Donors

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Ahmed al Ahmed, the bystander hailed as the “Bondi hero” for disarming a gunman during a deadly mass shooting at Sydney’s Bondi Beach, has been handed more than A$2.5 million ($1.65 million) raised through an online fundraiser. Tens of thousands of people worldwide contributed to the campaign, organised by social media influencer Zachery Dereniowski, who presented the oversized cheque to Ahmed at his hospital bed.

During the attack, Ahmed hid behind parked cars before charging one of the gunmen from behind, seizing his rifle and knocking him to the ground. He was later shot by a second attacker and remains in hospital recovering from surgery. More than 43,000 donors contributed to the fundraiser, including billionaire hedge fund manager Bill Ackman, while Australia’s prime minister and state premier visited Ahmed to commend his bravery.

Speaking from hospital, Ahmed urged people to stand together and protect life, saying he acted “from the heart.” A 43-year-old tobacco store owner who migrated from Syria nearly two decades ago, Ahmed did not say how he plans to use the money. Fifteen people were killed and dozens wounded in the attack, which police allege was carried out by a father and son during Hanukkah celebrations at the popular beach.

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Sarajevo Imposes Curbs After Ranking as World’s Most Polluted City

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Sarajevo authorities issued an air quality warning and introduced emergency restrictions after the Bosnian capital was ranked the world’s most polluted city on two consecutive evenings by Swiss air quality monitor IQAir. The move came as hazardous air conditions gripped the city of around 350,000 people, following days of dense fog and smog. Officials said pollution levels had risen sharply, prompting immediate intervention to protect public health.

The cantonal government banned trucks weighing over 3.5 tonnes and vehicles that fail to meet European Union emissions standards from entering the city, while also suspending construction work in open areas and prohibiting outdoor public gatherings. Experts say pollution in Sarajevo is largely driven by winter heating, with around 40,000 households relying on firewood and coal, as well as heavy traffic, with nearly 180,000 registered vehicles in the city.

Sarajevo’s location in a valley surrounded by mountains worsens the problem due to temperature inversion, which traps cold air and pollutants near the ground for days. Bosnia ranks among Europe’s worst countries for fine particulate matter (PM2.5) pollution, which the World Bank links to thousands of premature deaths annually and significant economic losses. Health experts warn that prolonged exposure increases the risk of lung cancer and poses serious dangers to vulnerable groups, including children, pregnant women and the elderly.

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French ‘Doctor Death’ Jailed for Life for Poisoning Patients

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A French court has sentenced former anaesthetist Frédéric Péchier, 53, to life imprisonment for deliberately poisoning 30 patients, 12 of whom died. The verdict was delivered at the end of a four-month trial in Besançon, marking one of the most serious medical crime cases in France’s history. Péchier will serve a minimum of 22 years in prison and has 10 days to appeal the ruling.

The court found that Péchier secretly injected substances such as potassium chloride or adrenaline into patients’ infusion bags, triggering cardiac arrests or severe haemorrhaging during routine surgeries. In several cases, he intervened during emergencies to present himself as a lifesaver, but in 12 instances the victims could not be saved. Prosecutors argued that his actions were driven by personal grudges against colleagues, whom he sought to discredit.

Investigators uncovered a disturbing pattern of unexplained medical emergencies at clinics where Péchier worked between 2008 and 2017, with incidents stopping whenever he left and resuming upon his return. Despite denying wrongdoing throughout the trial, Péchier admitted there must have been a poisoner at the clinics, insisting it was not him. Survivors and families of victims welcomed the verdict, calling it the end of a long and painful ordeal.

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Zelensky Urges EU to Unlock Frozen Russian Funds as Ukraine Faces Financial Crunch

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Ukrainian President Volodymyr Zelensky has warned that Ukraine faces a severe financial crisis unless the European Union agrees to loan billions of euros from frozen Russian assets to support Kyiv’s military and economy. Speaking in Brussels as EU leaders gathered for a critical summit, Zelensky said a positive decision was essential, noting that without additional funding Ukraine’s finances could run dry within months. Around €210bn of Russian assets are frozen in the EU, most of them held in Belgium through financial services firm Euroclear.

The European Commission has proposed loaning Ukraine about €90bn over the next two years using these frozen assets, arguing it would strengthen Kyiv’s position both on the battlefield and in ongoing peace talks. Supporters believe the move would also send a strong signal to Moscow that continuing the war is futile. However, Belgium and several other EU members remain cautious, citing legal and financial risks, while Hungary has openly opposed any further EU funding for Ukraine.

As discussions continue, EU leaders are under pressure to find consensus, with Commission President Ursula von der Leyen insisting a solution must be reached. While some countries are willing to provide guarantees to address Belgium’s concerns, doubts remain over the legal basis and potential consequences if courts later order the money returned to Russia. Despite the uncertainty, EU officials stress that the coming hours are decisive for Ukraine’s ability to sustain its war effort or prepare for recovery.

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Spain Plans Nationwide Climate Shelters to Protect People From Extreme Heat

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Spain will establish a nationwide network of climate shelters in public buildings to help people cope with extreme heat before next summer, Prime Minister Pedro Sánchez announced at a climate conference in Madrid. Highlighting that prolonged heatwaves and droughts are becoming the “new normal”, Sánchez said the shelters will provide safe, cool spaces accessible to everyone during periods of intense heat.

The government-backed shelters will be prioritised in areas most affected by rising temperatures and will complement existing regional initiatives in Catalonia, the Basque Country and Murcia. Barcelona already operates around 400 climate shelters in air-conditioned venues such as libraries, museums, sports centres and shopping malls, offering seating and free drinking water, particularly for vulnerable groups.

Sánchez also unveiled additional climate measures, including funding for flood prevention and €20 million earmarked for wildfire prevention plans in small towns. Spain faced its hottest summer on record in 2025, with temperatures exceeding 45°C, more than 3,800 heat-related deaths, and over 400,000 hectares destroyed by wildfires, underscoring the urgency of long-term climate adaptation.

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