What We’re Reading 3/27/09

Mar 27th, 2009 7:48 PM UTC
By Steve Wilson

AllAfrica.com—Global Crisis ‘Hits Africa Twice’ (Column by Kofi Annan)
Kofi Annan writes that due to the effects of the global economic recession, Africa now needs urgent support to maintain economic activity and protect the vulnerable and the poor from the crisis. But while trillions of dollars are being found, he writes, for stimulus plans and bailouts in the richer countries, the least developed countries find themselves lacking access to credit and are faced with lending policies and practices that minimize their chances of receiving loans.

The Guardian—Reform is needed. Reform is in the air. We can’t afford to fail
Nobel Prize-winning economist Joseph Stiglitz writes in a similar vein, saying that for the sake of the global economy, developed countries should contribute 1% of stimulus spending to help poor countries through the recession. He also writes that it is important that any assistance be provided without the usual strings because conditions such as those which force developing countries to contract spending and raise interest rates are counterproductive: the intent of the assistance is to help them expand their economies, thereby assisting the global recovery.

Concord Monitor—Downturn devastating for Third World’s poor (editorial)
The Concord Monitor writes today that although calls to cut foreign aid and focus on problems here in America are understandable during the economic downturn, there is, in fact, no greater time for America – and individual Americans – to think and act globally. As developing nations and its people suffer the most from this crisis, Americans should extend a hand and provide strong support, the paper writes. Doing so will save lives and help change America’s image in the world.

The Guardian—Global financial crisis hits world’s poorest hardest
People living in the world’s poorest communities are eating less frequently and consuming worse food as a result of the global financial crisis, according to a study that looks at the impact of the recession in five developing nations. The study also finds that many poor families hit by the economic downturn are also removing their children from school.

AllAfrica.com—African Union Must Join G20 (Column by South African Finance Minister)
South Africa’s Finance Minister, Trevor Manuel, writes that the African Union should be represented at the G20 table. He writes that Africa has much to gain or to lose by the decisions of the G20. Most immediately, he writes, action must be taken to ensure the continent maintains access to capital markets, is able to improve its trade balances and secures sufficient and effective donor aid.

Economist—Democracy in difficult places
The Economist reviews Paul Collier’s new book on democracy and conflict in developing countries, titled “Wars, Guns and Votes.” The magazine writes that the book challenges a lot of Western thinking about the trajectory that poor countries should take to improve their lot. For example, Collier, who also wrote “The Bottom Billion,” shows unambiguously what observers of elections in poor countries have long suspected: that on their own, unless they are held in the context of a functioning democracy, elections can retard rather than advance a country’s progress. Collier observes that elections begin to pay dividends to society only when they occur in a system of checks and balances, with a functioning rule of law.

-Steve Wilson

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