Plugging Africa’s funding gaps to accelerate social and economic development requires a fresh approach to using its natural capital, environment experts said on Monday.
Besides suffering from macroeconomic imbalances, like a drop in GDP, a high inflation rate and a large public deficit, Brazil is experiencing heavy losses as many oil industry and logistical works grind to a halt.
“We are victims of progress,”complained Osmar Santos Coelho, known as Santico. His fishing community has disappeared, displaced to make way for a port complex on São Marcos bay, to the west of São Luis, the capital of the state of Maranhão in Brazil’s northeast.
With its two-trillion-dollar economy, recent discoveries of billions of dollars worth of minerals and oil, and the number of investment opportunities it has to offer global players, Africa is slowly shedding its image as a development burden.
Zeinab Mohamed is a 70-year-old squatter in Kwale County, in Kenya’s Coast Province. Like many other Coast Province residents, for decades, Mohamed has lived in what squatters call “floating houses”.
A bill that would regulate large-scale mining operations is making its way through Uruguay’s two houses of parliament, despite a lack of political consensus and vocal opposition from environmental organisations and other sectors of civil society.
An agreement signed by the government of Venezuela and the Chinese state-owned company Citic Group for prospecting and mapping the country's mining reserves is being challenged by both the opposition and experts who argue that it will leave valuable natural resources dangerously exposed.