It is 9 am in the morning but the scorching sun makes it feel like mid-afternoon. This type of weather is what experts are calling El Nino; a heat wave that is affecting countries in southern and eastern Africa.
As 2015 approaches its end, Brazilians live a period of extraordinary uncertainty. The recession seems to get worse by the day. Inflation is high and shows unexpected resistance to tight monetary policies applied by the Central Bank. The sluggish international economy has largely neutralized incentive and the strong devaluation of the domestic currency could represent a reality to exporters and to producers who compete with now more expensive imports. After an initial resistance, employment levels began to fall.
At last, on Tuesday Feb. 24, the Eurogroup (of eurozone finance ministers) approved the Greek government’s commitment to a programme of reforms in return for extending the country’s bailout deal.
David Kamau is a small-scale maize farmer in Nyeri, Central Kenya, some 153 kms from the capital Nairobi. He recently diversified into carrot farming but is still not making a profit.
The tight race between incumbent President Dilma Rousseff of Brazil’s Workers’ Party and her opponent, Aecio Neves from the centre-right Brazilian Social Democracy Party (PSDB) party, ended on Sunday, Oct. 26 with the re-election of Rousseff.
Brazil’s real gross domestic product (GDP) in 2013 grew by 2.3 percent, following rates of 2.7 percent and 1 percent in 2012 and 2011 respectively. Perspectives for 2014 on this front are not optimistic.
Argentine consumers have responded to calls on social networks to mobilise against price hikes that threaten the country’s major advances towards poverty reduction and greater social equality.
The transition team of Iran’s President-elect Hassan Rouhani was busy last week lowering expectations for a quick economic recovery, saying that things are far worse than they had thought.
Argentina has better prospects in 2013 after modest growth in 2012, thanks to an excellent grain harvest and the recovery of Brazil, its main market.