What We’re Reading 12/19/08
Reuters: IFC launches private-sector aid funds
The International Financial Corp, the World Bank’s private-sector lender, launched funding facilities to ease the effects of the global financial crisis on companies in emerging markets. The IFC said it will work with sovereign wealth funds to invest in Africa. The package includes a doubling of the IFC trade finance program to $3 billion, a new $3 billion bank recapitalization fund and an infrastructure crisis facility, which is expected to mobilize at least $1.5 billion. Over the next three years IFC is expected to deploy about $30 billion through the funds and has invited other donors to contribute financing, including China.
London Times: Global aid in crisis as cash supply dries up
Jeffrey Sachs comments on the current economic conditions, “We have a terrible situation because the overall aid system is on its knees and that was true even before this global economic crisis.” International aid programs are in crisis, governments are not honoring funding promises, individual donors are skeptical about aid policies and wealthy philanthropists are losing money in the economic turmoil, the Times reports.
Associated Press: UN: Zimbabwe cholera death toll at 1,123
Update on the Zimbabwe situation: the cholera death toll has reached 1,123.
Guardian: Morgan Tsvangirai threatens to quit talks over Zimbabwe abductions
Secondly, the Zimbabwean opposition leader, Morgan Tsvangirai, has threatened to quit power-sharing negotiations with the government unless authorities produce dozens of opponents who have been abducted and disappeared in recent weeks. Tsvangirai also called for fresh elections if a coalition government is not put in place soon. Mugabe remains defiant. The state-run Herald newspaper reported him as taunting other African leaders, saying they lacked the courage to use force to remove him from power.
-Chandler Smith
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December 21, 2008 at 3:13 pm
God bless Prof. Jeffrey Sachs for being a voice of conscience and clarity. ~
THANK YOU, ONE, & all our members for being as focused & effective as we have been this year. Let’s continue this into the New Year.
Blessings Always for the Holiday Season, debbie
http://www.mpwn-uganda.org
December 23, 2008 at 3:19 am
Global aid in crisis as cash supply dries up ~ London Times.
*Dun, dun, dun*
Why thank you Captain Obvious. You can’t give from what you don’t have. Be wise with your money, so that if you want to give it, you can.
It would be better for One.org to ask governments to put a stop to the garbage spending that they do instead of advocating for a handout for other nations. Then maybe it could be called charity.