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Global Financial Crisis: Hardest on the Least Developed |
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Written by Mehdi Shafaeddin
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Tuesday, 11 May 2010 17:52 |
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The recent global economic crisis has been unprecedented since the great depression of 1929-32. The low-income countries have been affected by the crisis severely, particularly because of their low capacity to take external shocks. The commodity boom of 2003-08 allowed increases in national savings, investment and the acceleration of GDP and market value added (MVA) of low-income countries. Nevertheless, it was followed by a “bust” with detrimental impact on their long-term industrialization and development. Food and fuel importing countries, in particular, suffered from both the “boom” and the “bust”; the emergence of the financial crisis took place at the time they were facing high international prices of food and petroleum. In other words, they faced three ‘F’(food, fuel, financial) crises.
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Native Groups Poised for Nationwide Protests Over Water Bill |
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Written by Gonzalo Ortíz
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Thursday, 06 May 2010 00:00 |
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QUITO, May 6, 2010 (IPS) - Indigenous organisations in Ecuador opposed to a water reform bill that they say would give mining companies and agribusiness privileged access to water have threatened to extend their protests around the country in order to keep the legislature from passing the bill without certain modifications.
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Bolivia Throws Down Gauntlet, Demands Real Climate Action |
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Written by Max Ajl
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Wednesday, 05 May 2010 00:00 |
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It was a rounding error: 3, 3.5 million dollars, the amount of funding in climate aid that the
United States had taken away from Bolivia, in explicit retribution for Bolivia's filibuster at
the Copenhagen Summit this past December, when along with Venezuela, the Sudan, Nicaragua and
Ecuador, it effectively scuppered the Copenhagen accords.
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Class Struggles and National Debts |
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Written by Rick Wolff
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Wednesday, 05 May 2010 00:00 |
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The political conflicts and street battles in Greece today foretell what is coming to many countries including the US. The struggles are basically over what the government spends on and who pays the taxes. In today's class-divided societies, classes differ over what governments should do and who should pay the taxes. Governments in such societies often turn to borrowing -- which produces national debts -- as ways to defer and postpone the political problems of resolving class struggles focused on the state. By borrowing, governments can immediately accommodate -- at least partly -- the different class demands for government spending while postponing the raising of taxes into the future (when they will need to be raised more, of course, to repay the amount borrowed plus interest).
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Maoists Blockade Government Offices in Kathmandu |
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Written by Administrator
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Wednesday, 05 May 2010 00:00 |
Nepal’s Maoists block roads to government offices.
KATMANDU, Nepal — Nepal’s Maoist opposition blocked streets leading to key government offices Wednesday on the fourth day of their crippling general strike to demand the prime minister’s resignation, while the government vowed not to bow to protesters’ pressure.
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Page 3 of 12 |
URGENT APPEAL OF THE DISPLACED WORKERS OF TRIUMPH INTERNATIONAL PHILIPPINES
What people can and must do about the economic and financial crisis
