Stories written by Emad Mekay

ECONOMY: East Asia Emerging from Crisis but Vulnerable – Bank

Despite a stuttering world economy, East Asia is on track for a moderate economic rebound this year and in 2003, but faces risks from a slowdown in industrialised nations and a possible U.S.-Iraq war, says the Asian Development Bank (ADB).

ECONOMY: East Asia Emerging from Crisis but Vulnerable – Bank

Despite a stuttering world economy, East Asia is on track for a moderate economic rebound this year and in 2003, but faces risks from a slowdown in industrialised nations and a possible U.S.-Iraq war, says the Asian Development Bank (ADB).

FINANCE: Locals Claim Win As World Bank Rejects Romanian Gold Mine

The World Bank has backed away from funding a controversial mining project in Romania after environmentalists and economists insisted the operation could become an ecological nightmare for the European country.

FINANCE: Locals Claim Win As World Bank Rejects Romanian Gold Mine

The World Bank has backed away from funding a controversial mining project in Romania after environmentalists and economists insisted the operation could become an ecological nightmare for the European country.

DEVELOPMENT: World Bank says Oil and Mining Firms Must Open Books

The World Bank is backing an international campaign to get oil and mining companies to open their books and reveal their payments to governments in developing nations.

DEVELOPMENT: World Bank says Oil and Mining Firms Must Open Books

The World Bank is backing an international campaign to get oil and mining companies to open their books and reveal their payments to governments in developing nations.

FINANCE: No Rescue Plan In Sight for Countries in Crisis

It is likely to be years before the world's borrowing nations and bankers agree on a plan that would delay legal action by private investors trying to recoup their money from 'bankrupt' nations such as present-day Argentina.

ECONOMY: Activists Try Again to Stop Bank-Backed African Pipeline

Cameroon residents affected by a controversial World Bank-backed oil pipeline are appealing to the agency's Inspection Panel to stop the damaging project - just weeks after an earlier attempt was rebuffed by the bank's directors.

ECONOMY: Emerging Markets Will Grow But Risks Remain – IMF

A possible U.S. attack on Iraq, subdued recovery in the United States, spiralling oil prices and faltering 'emerging' markets are among the reasons global economic growth will be sluggish this year and in 2003, the International Monetary Fund (IMF) forecast Wednesday.

FINANCE: Too Many Long-Term Loans at IMF, Internal Report says

The International Monetary Fund (IMF) should let borrowing countries plot their own paths to development, improve its own analysis, and reduce political interference in its decisions, says the Fund's own Independent Evaluation Office (IEO).

FINANCE: Activists say World Bank, IMF Protests Working – Slowly

When protesters fill the streets here on Saturday to vilify the World Bank and the International Monetary Fund (IMF) for their harmful policies in the developing world, they may also be unwittingly admitting their own failure to substantially reduce world poverty and suffering.

FINANCE: Activists Prepare to ‘Contain’ World Bank, IMF Agenda

Activists will be up in arms here this weekend - hoisting their puppets, loud drums and colourful banners to protest the policies of the World Bank and the International Monetary Fund (IMF) in the developing world.

TRADE-U.S.: Farm Bill Hurts Poor Farmers, Boosts Business – Report

New U.S. agricultural subsidies benefit big business while impoverishing poor Third World farmers and they contradict advice from global institutions like the World Bank and the International Monetary Fund (IMF), says a development group.

FINANCE: Private Money Flees Developing Nations

Private capital flows to "emerging markets" will reach their lowest level in 10 years in 2002, dragged down by a global recession, security concerns and a possible U.S.-Iraq war, says a global association of financial firms.

/CORRECTED REPEAT/DEVELOPMENT: Canadian Firm Guilty of Corruption in Africa

Development activists are calling on the World Bank and other international lenders to penalise a Canadian engineering company after the firm was found guilty of corruption by a Lesotho court Tuesday.

DEVELOPMENT: Canadian Firm Guilty of Corruption in Africa

Development activists are calling on the World Bank and other international lenders to penalise a Canadian engineering company after the firm was found guilty of corruption by a Lesotho court Tuesday.

FINANCE: Critics say Jump in World Bank Loans Nets no Improvements

The World Bank loaned two billion dollars more to developing countries in the last year in response to a slowing world economy and the Sep. 11 attacks on New York and Washington, but anti-poverty activists say the money has not been effective.

ECONOMY-U.S.: Scandals to Cost Billions, Hurt Global Trust in Markets

Corporate scandals will cost the United States economy billons of dollars, could delay a stock market recovery by a year and will produce a global loss of trust in the free market, says a new study by a leading economic think tank.

DEVELOPMENT: Expert to Poor Nations: ‘Forget Debt, Spend on AIDS’

A prominent economist is urging poor nations to redirect their debt payments away from rich creditors and spend the money on health and education.

TRADE-U.S: World Bank says Rich Countries Must Tackle Farm Tariffs First

A day after U.S. trade officials called on both rich and poor countries to reduce trade tariffs and subsidies on agricultural products, the World Bank said it would be up to northern nations to make the first move.

TRADE: U.S. Offers to Slash Agricultural Barriers, Subsidies

The United States has proposed a broad plan to slash world trade barriers and export and other "trade-distorting" subsidies on food and agricultural products, only weeks after Washington massively boosted farm subsidies at home.

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