India began its journey as an independent nation in 1947 with fresh memory of the Bengal Famine of 1943 which claimed 1.5 to 3 million lives. Against this backdrop, the First Five Year Plan (1951-56) prioritized agriculture which, however, shifted to heavily industrialization in the second Plan.
The COVID-19 pandemic reversed several development gains on the continent, and Africa’s leaders are convinced stronger cooperation in boosting investment in green growth will help Africa meet the Sustainable Development Goals (SDG).
This week, exactly 20 years ago, world leaders adopted the United Nation’s Monterrey Consensus
. They committed to “Confronting the challenges of financing for development” with a global response and to creating a fully inclusive and equitable global economic system.
“If your only tool is a hammer, every problem looks like a nail”. Still haunted by the clever preaching of monetarist guru Milton Friedman’s ghost, all too many monetary authorities address every inflationary threat or sign they see by raising interest rates.
All over the world, people expect policies by central bankers trained in economics to have a sound scientific base. But in fact, inflation targeting is an article of faith with neither theoretical nor empirical basis.
COVID-19 has exposed major long-term economic vulnerabilities. This malaise – including declining productivity growth – can be traced to the greater influence of finance in the real economy.
Inflation hawks are winning the day. The latest ‘beggar thyself’ race to raise interest rates has begun. This ostensibly responds to the spectre of runaway inflation, supposedly retarding economic growth and progress, and thus threatening central bank ‘credibility’.
For the first time since 1990, China has (re)opened an embassy in Managua
, Nicaragua, less than a month after Nicaragua cut ties with Taiwan
. The (re)opening of the embassy on January 1, 2022 comes amidst the backdrop of US-China tensions
, particularly over trade
, as well as worsening
In her wildest dreams, smallholder farmer Sarudzai Sithole never imagined that her pineapples could someday stock the produce section of Europe’s finest supermarkets.
Officially reported deaths from Covid-19
started to rise again in autumn 2021 in a number of economies in the EBRD regions
. While in advanced economies in Europe the mortality rate has remained low despite the pick-up in Covid-19 cases, in the EBRD regions the mortality and infection rates continued to move in tandem.
Many countries around the world have punished most of the African continent for the scientific discovery of the Omicron variant through the imposition of travel bans.
When face-to-face Cabinet meetings resumed in Jamaica following more than a year of virtual meetings due to COVID-19, Ministers lined up to have their immunisation cards inspected.
With subsidies of global fisheries back on the World Trade Organisation’s agenda, experts are calling for African governments to upscale the protection of the sector long plagued by activities that continue to threaten the continent’s blue economy.
An agreement between 136 countries aimed at forcing the world’s biggest companies to pay a fair share of tax has been condemned by critics who say it will benefit richer states at the expense of the global South.
It’s bad enough that mainstream news outlets routinely call the Pentagon budget a “defense” budget. But the fact that progressives in Congress and even many antiwar activists also do the same is an indication of how deeply the mindsets of the nation’s warfare state are embedded in the political culture of the United States.
The September 16, 2021 announcement from the World Bank that it had discontinued
publication of the Doing Business Report (DBR) marked a major victory for people and planet.
Last week the World Bank announced it was “discontinuing” its “Doing Business” report, which ranks countries on the ease of opening and operating a company.
The pandemic is pushing back the world’s poorest countries with the least means to finance economic recovery and contagion containment efforts. Without international solidarity, economic gaps will grow again as COVID-19 threatens humanity for years to come.
Argentina will receive a 347 million dollar loan from the World Bank to upgrade one of the most important suburban railway lines in the city of Buenos Aires. The operation is part of the multilateral lender’s new policy, which deepens its commitment to the fight against climate change.
Gilbert Bor manages a small farm in the western highlands of Kenya. Landscapes are hilly, village roads lined with pine trees, his cows mostly of the Friesian breed. He is up at 6:00am daily to lead his animals through the woods into the valley below.