Several developing countries are now being engulfed in new economic crises as their currency and stock markets are experiencing sharp falls, and the end is not yet in sight.
Before the world economy has been able to fully recover from the crisis that began more than five years ago, there is a widespread fear that we may be poised for yet another crisis, this time in emerging economies.
Civil society activists from five Arab countries are urging the International Monetary Fund (IMF) to ease pressure on their governments to reduce food and fuel subsidies until stronger social-protection schemes and other basic reforms are implemented.
Thousands of people have rallied in streets of major Bosnian cities since last week, demanding social justice, decent living conditions and resignation of top officials who they openly blame for unprecedented poverty and the country's economic decline.
As Ukraine’s capital experiences the worst violence in its post-Soviet history, some protestors are warning that the festering discontent with the regime which led to the current crisis is unlikely to disappear overnight even if a solution to the current impasse is found.
A humanitarian crisis is unfolding in Greece and other recession-hit European countries as they undergo harsh austerity measures in exchange for a bailout. At the heart of it is the Troika, say trade unions, civil society and rights activists.
With no acute crisis on the radar, this year's Annual Meeting of the World Economic Forum (WEF) will move away from the response mode of the past years and “look for solutions for the really fundamental issues,” its founder Klaus Schwab said at the pre-meeting press conference.
Evelyn Mhasi, a qualified nurse, has not worked in her profession for the last seven years. Hiring in several Zimbabwean government sectors, including nursing, remains frozen despite colleges churning out skilled professionals each year.
The start of Greece’s six-month presidency of the EU was marked by a ceremony Wednesday in the Greek capital attended by the EU commissioners. But protests were banned and there was no in-depth talk about the raging controversy over the bloc’s handling of the Greek debt crisis and the renewed concerns about the vitality of the Eurozone.
The landscape is changing in Cuba’s cities and towns, with political slogans giving way to lighted signs advertising the best of local and international cuisine and air-conditioned lodgings – signs of an emerging private sector that was inconceivable until recently.
At this time of hope for what the new year may bring, it would be useful to look at the legacy we carry with us from the year we leave behind. It was a year full of events - wars, rising social inequality, unchecked finance, the decline of political institutions, and the erosion of global governance.
Developing countries are likely losing more than a trillion dollars a year in "illicit financial flows" stemming from crime and corruption, according to new estimates. This fast-rising figure is already 10 times the total amount of foreign aid these countries are receiving.
After three decades of supposedly planned socialism (1960-1990), when government plans were often only halfway fulfilled, lost in oblivion due to lack of oversight or of realism, or in the best of cases carried out any which way just to live up to the goals, Cubans got used to waiting (with or without hope) for the political leadership, financed with heavy Soviet subsidies, to come up with the next “plan”.
The faint explosion is a reminder that though the newly refurbished fence protects their town, the two-and-a-half-year-old civil war which is tearing their motherland apart is never far off.
The garbage trucks of Gaza city are at a standstill due to an ongoing fuel shortage affecting all aspects of daily life, including garbage collection, sewage and waste disposal and other vital services. But the local donkeys are here to help.