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World Hunger Dilemma Spreads Without Solution
A new report from the World Bank states what has been obvious for months: food prices have spiked so high that the costs represent a threat to the ability of many people to feed themselves. The organization also offered solutions it would like to implement, but none of them comes close to a solution to the mammoth problem. And solutions cannot come from elsewhere either. Food shortages are too great, and the nations that might offer aid have become hog-tied by moves toward austerity.
In the latest edition of its Food Price Watch report, World Bank Group President Jim Yong Kim commented:
Food prices rose again sharply threatening the health and well-being of millions of people. Africa and the Middle East are particularly vulnerable, but so are people in other countries where the prices of grains have gone up abruptly.
Maize prices were up 25% from June to July, as was the price of wheat. Soybean prices rose 17%. The price of internationally traded commodities moved 1% above the previous high in February 2011. The geographic areas hurt most Read more…
BRICS Move To Replace Dollar With “Super-Sovereign” Global Currency
Brazil, Russia, India, China and South Africa launch attack to to replace the dollar with an single Chinese denominated “super-Sovereign” global currency.
As China is expected to rise to the status of a financial super power within the next 8 years and eclipse the US economy by 2020 Africa becomes center stage in the greatest currency war the world has seen since the 1930s which is now shifting into overdrive.
Brazil, Russia, India, China and South Africa, collectively known as the BRICS nations, are moving forward with their plan to unseat the US dollar from its throne as the global trade currency and to replace it with a Chinese denominated “super-sovereign” international currency.
This Geo-political game to establish global monetary dominance is by no means limited to the attack on the US dollar.
Instead this is merely the first strike of a concerted campaign of worldwide economic Read more…
IMF sees 200 billion euro capital gap at European banks
BRUSSELS — The International Monetary Fund has estimated European banks could face a capital shortfall of 200 billion euros (US$287 billion), a European source said on Wednesday.
The figure has prompted a fierce response from European officials who said the analysis was misleading, according to the Financial Times.
The newspaper, citing two officials, said the 200 billion euro figure was one estimate of the impact of marking sovereign bonds to market.
The IMF will Read more…
World Bank Calls On Ghana To Check Population Growth
Masahudu Ankiilu Kunateh
Mr. Javed Talat, Executive Director of the World Bank on Monday called on the Ghana Government to fashion out mechanisms that would help check the ever-growing population to solve development challenges.
He said Technology was fast moving towards reductions in job creation such that unchecked population growth could become disastrous to developing countries in terms of high rates of unemployment.
Mr. Talat made this call when he led a World Bank delegation to visit Vice President John Dramani Mahama at the Castle, Osu.
He said the World Bank had a financial facility to support developing countries to check population growth and suggested to developing countries to adopt such measures in order to advance their economies.
Mr. Talat, who is on a visit to Ghana to assess the country’s performance as part of his economic constituency commended successive governments for stabilizing the country, adding “I want to congratulate all of the leaders of Ghana for maintaining peace and tranquility over the years and I must add that Ghana stands out as a country of progress with political stability.”
The Executive Director also appealed to developing Read more…
World Bank Head Warns Markets Heading to New Danger Zone
United States and Europe, coupled with a fragile economic recovery have pushed markets into a new danger zone, something that policymakers have to take seriously, the head of the World Bank said on Sunday.
(Photo: REUTERS / Tim Wimborne)
World Bank Chief Robert Zoellick gestures while speaking at the Asia Society’s annual dinner in Sydney August 14, 2011.
Speaking at the Asia Society dinner in Sydney, Australia, Robert Zoellick also said the global economy was going through a multi-speed recovery, with developing countries now the source of growth and opportunity.
“What’s happened in the past couple of weeks is there is a convergence of some events in Europe and the United States that has led many market participants to lose confidence in economic leadership of some of the key countries,” he said.
“I think those events combined with some of the other fragilities in the nature of recovery have pushed us into a new danger zone. I don’t say those words lightly … so that policymakers Read more…
IMF HACKED! Large Amount Data Stolen
Why Is the U.S. Bankrolling IMF’s Bailouts in Europe?
humanevents
The World Bank and International Monetary Fund held their spring meeting April 14 to 18 in Washington, D.C. Both financial titans were created after World War II to foster economic cooperation and development around the globe. With 16.2% of the International Monetary Fund (IMF) shares, the United States is the largest shareholder among the 187 nations who belong to the fund—even though its managing director has always been a European.
Remote to most Americans, the IMF has been in the headlines recently because of its role as one of the financial rescuers of three European nations whose economies collapsed last year. Under Managing Director Dominique Strauss-Kahn (the former French finance minister, who is considered the leading Socialist candidate for president of France in 2012), the IMF has joined with the European Union to sculpt bailout packages for Greece, Ireland, and Portugal. Coupled with loans from the EU, the price tags on the bailout packages come to $157 billion for Greece, $122 billion for Ireland, and most recently, $116 billion for Portugal.
Obviously, these are quite substantial packages for the three economically devastated countries. They will become very relevant to U.S. taxpayers when they realize that, because we are the largest single contributor to the organization, and with Spain and Italy now Read more…
Texas Wildfires Threaten Wheat Crop, Drive Food Prices Higher
As firefighters from around the country and the National Guard continue to battle the many blazes scattered across the state, with no immediate end to the crisis in sight, the future looks bleak for Texas farmers. Many farmers’ fields were already damaged by drought, and now some crops have been further harmed by smoke or entirely destroyed by flame.
Some agricultural experts are now predicting that Texas will lose two thirds of this year’s wheat crop to drought and Read more…
Prepare for the Next Conflict: Water Wars
Every minute, 15 children die from drinking dirty water. Every time you eat a hamburger, you consume 2400 liters of the planet’s fresh water resources — that is the amount of water needed to produce one hamburger. Today poor people are dying from lack of water, while rich people are consuming enormous amounts of water. This water paradox illustrates that we are currently looking at a global water conflict in the making.
We are terrifyingly fast consuming one of the most important and perishable resources of the planet — our water. Global water use has tripled over the last 50 years. The World Bank reports that 80 countries now have water shortages with more than 2.8 billion people living in areas of high water stress. This is expected to rise to 3.9 billion — more than half of Read more…
World Bank president: ‘One shock away from crisis’
The president of the World Bank has warned that the world is “one shock away from a full-blown crisis”.
Robert Zoellick cited rising food prices as the main threat to poor nations who risk “losing a generation”.
He was speaking in Washington at the end of the spring meetings of the World Bank and International Monetary Fund.
Meanwhile, G20 finance chiefs, who also met in Washington, pledged financial support to help new governments in the Middle East and North Read more…
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