Global food prices are on the rise

Global food prices increased by 8% from December 2011 to March 2012, according to the World Bank Group’s Food Price Watch. This was due to higher oil prices, adverse weather conditions and a strong demand for food imports in Asia. The World Bank’s Global Food Price Index was only 1% below what it was a year ago and 6% below … Continue reading

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FDI creates few jobs in developing countries

 A new UNCTAD report on the status of foreign direct investment (FDI) in the world´s 48 poorest countries urges a changed approach that would focus such investment on creating jobs, as well as on enhancing those countries´ productive capacities – that is, their abilities to produce wider varieties of goods and more sophisticated goods. The report is entitled Foreign Direct … Continue reading

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“Near to impossible” to achieve all Millennium Development Goals

UNCTAD Secretary-General Supachai Panitchpakd, Secretary-General of Unctad, said in opening the organization’s symposium in Geneva yesterday that since the crisis hit in 2008, some 53 million people in the developing world have fallen below the poverty line “and more than 100 million additional people are going hungry.  These numbers are not moving in the right direction.” “Prior to the crisis, … Continue reading

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Global economy to shrink for first time since World War Two

In a paper prepared for last weekend’s G20 meeting of Finance Ministers, the World Bank said that the global economy is likely to shrink this year for the first time since the second world war. With growth at least 5 percentage points below potential, the World Bank forecasts that global industrial production could be as much as 15% lower by … Continue reading

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Poorest countries hit by third wave of global financial crisis

First the advanced economies, then the emerging economies and now the world’s poorest and most vulnerable countries are being hit by the global crisis. This was according to Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF) on Tuesday this week as he launched a new report.  He said: “This puts at risk the major achievements of higher growth, … Continue reading

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World trade to contract in 2009

“Trade has become another casualty of the global economic crisis” according to Pascal Lamy, director general of the World Trade Organisation, in a speech in Australia yesterday. He maintained that the slump in demand and the difficulties to access trade finance have led to a significant contraction of world trade. According to current estimates, world trade will contract by some … Continue reading

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