The rich and the powerful, who meet every year at the World Economic Forum (WEF), were in a gloomy mood this time. Not only because the day they met close to eight trillion dollars has been wiped off global equity markets by a "correction". But because no leader could be in a buoyant mood.
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.
Plans by the Greek government to sell companies that handle the key resources of energy and water face serious obstacles and its policy to offer investors exceptional privileges in an effort to boost interest in privatisation is coming under strong pressure.
Mounds of sand and rubble are what are left of sections of Maputo’s beachfront road as bulldozers, manned by Chinese construction workers, tear up the road that is being rebuilt. Southern Africa is under construction and the reminders are everywhere.
Regardless of who is responsible for Egypt's current political impasse – be it the administration of Islamist president Mohamed Morsi or an aggressive secular opposition – local experts are certain of at least one fact: Egypt's dire economic circumstances will not improve without political stability.
She has taken a personal pay cut, promised reforms, resumed aid flows from Western donors and put her predecessor’s private jet up for sale.
Ignoring the thousands of protestors gathered outside the Greek parliament on Wednesday, the government voted in public spending cuts amounting to 17 billion dollars in an economy already on its knees from a lacerated budget.
Carolina Poalo strikes the dry earth over and over with her hoe, her frail body bent almost double. She is determined to begin planting. During the long, dry season in Mozambique, she and her two young grandchildren have eaten little but cassava leaves.
After 18 months of talks, on Wednesday Egypt's government formally requested a 4.8-billion-dollar loan from the Washington-based International Monetary Fund (IMF), hoping to stabilise an economy that has continued to badly stutter in the aftermath of the popular uprising that led to the downfall of former President Hosni Mubarak.
Swazis should not see the ongoing nationwide one-month teachers’ strike as a movement capable of overthrowing the political regime here, despite the fact that civil servants and nurses have joined the action, according to political analyst Dr. Sikelela Dlamini.
For yet another occasion, it was not the good news Caribbean leaders wanted to hear.
As Malawi’s poor struggle to afford food and other staple items since the 48 percent devaluation of the local currency against the dollar, economic commentators are optimistic that the move will provide an opportunity to boost the country’s export market.
The Brazilian government is stepping up South-South aid, to strengthen the South American giant’s status as a donor country and its international clout. It now provides assistance to 65 countries, and its financial aid has grown threefold in the last seven years.
Ethiopia says that the double-digit economic growth the country has experienced over the last seven years has started benefitting its majority by boosting their income and productivity in agriculture and small-scale businesses.
Women toil in the fields for most of their lives producing food and strengthening the largely agricultural economy of African countries, but when their fathers, husbands or older sons die, they are no longer welcome on land they may have tended for years.