View Articles

Economic growth dropped sharply in 2009 in Africa, averaging only 2 percent in sub-Saharan region. However, prospects for the region in 2010 are for a recovery that is increasing in strength, in tandem with the world economy, and economic growth could rebound to 4¾ percent.

As it emerges from the worst crisis in decades, the world economy faces an uncertain and uneven recovery. The crisis interrupted progress in reducing poverty and the impact will be long-lasting. With only five years to meet the Millennium Development Goals, we must intensify efforts to reach the poor wherever they are - in Middle Income Countries, Low Income Countries, and especially in Sub-Saharan Africa.

The Twenty-First Meeting of the International Monetary and Financial Committee of the Board of Governors of the International Monetary Fund Chaired by Dr. Youssef Boutros-Ghali, Minister of Finance of Egypt on April 24, 2010 has concluded that signs of a strengthening economic recovery are encouraging but many challenges remain that need to be tackled collaboratively.

New Delhi: Prime Minister Dr. Manmohan Singh today called on the States to take more steps for strengthening the Panchayati Raj Institutions so that the Panchayats in country could play a more effective role in inclusive development and providing access to the masses in the Government programmes. Dr. Manmohan Singh was inaugurating the The National Panchayati Raj Day Function at Vigyan Bhawan New Delhi Today.

There have been wide acclaim when a trial court earlier this month awarded death penalty to five caste panchayat leaders for killing a young couple who had violated the gotra rules. To get such a verdict against the Khap leaders in Haryana and certain adjoining areas is not a mean achievement. The law enforcing agencies and politicians invariably give protection to the caste panchayat 'elders' even when they mete out medieval justice like 'honour killing'. So the court verdict marked a wind of change in this socially backward zone.

JAIPUR: The ongoing Indian Premier League (IPL) controversy is a national, or even an international - issue. But it has a Rajasthan angle too. And, it is not only related to the cricket world; it has a political, or Congress Vs BJP, tussle too. All because, the controversial IPL commissioner Lalit Modi was close to former Chief Minister Vasundhara Raje.

Executive Board of the International Monetary Fund (IMF) has concluded the 2010 Article IV consultation with Equatorial Guinea and said, 'Oil has brought great wealth and growth to the Equatoguinean economy, and strong oil revenues have financed both an ambitious public investment program and the accumulation of large financial assets. Basic infrastructure is being developed, and steps have been taken toward increased transparency.'

The economic slowdown in sub-Saharan Africa looks set to be mercifully brief. Output is projected to expand by 4¾ percent in 2010, compared to 2 percent in 2009. Provided the global economy continues to improve, growth in the region should accelerate further still to 5¾ percent in 2011.

At its meeting on 20 April 2010, the Dispute Settlement Body (DSB) agreed to refer the US complaint on Philippine taxes on spirits to the panel which is examining a similar complaint by the EU. Separate panel requests to examine EU measures on Chinese footwear, US measures on Vietnamese shrimps and US measures on Korean products were blocked.

MANILA, PHILIPPINES - The Asian Development Bank's (ADB) Board of Directors has approved a $50 million loan and a $600,000 grant to help three Uzbekistan banks expand finance to small and micro businesses.