Global News Journal
Beyond the World news headlines
from Africa News blog:
Far from being all bad news for Africa, the global financial crisis is a chance to break a dependence on development aid that has kept it in poverty, argues Zambian economist Dambisa Moyo, who has just published a new book “Dead Aid”.
Moyo’s book, her first, comes out at a time when Western campaigners, financial institutions and some African governments have been warning of the danger posed to Africa by the crisis and calling for more money from developed countries as a result. The former World Bank and Goldman Sachs economist spoke to Reuters in London.
“I’m not saying its going to be easy, I’m just saying that there is a real opportunity for policymakers to focus on coming up with more innovative ways of financing economic development. In a way the crisis actually provides the African governments with the situation where they cannot rely on aid budgets coming through from the West.”
Moyo believes more than $1 trillion in development aid over the past 50 years has only entrenched Africa’s poverty, distorted economies and fuelled bureaucracy and corruption. She sees alternatives such as encouraging trade - particularly with emerging markets - encouraging foreign direct investment, microfinancing for enterprise and seeking funds from capital markets.
I first met Raed al-Athamna when he was driving a journalist friend of mine around Gaza in his yellow, stretch-Mercedes taxi during the tense and violent days after Gaza militants captured Gilad Shalit, a young Israeli soldier, in the summer of 2006.
Raed seemed to be a good ‘fixer’ – attentive, sensible and with far-from-perfect but perfectly understandable English.
Who remembers the Google Wars website that was doing the viral rounds a few years back – a mildly amusing, non-scientific snapshot of the search-driven, internet world we live in?
It lives on at www.googlebattle.com where you can enter two search terms, say ‘Lennon vs. McCartney’ or ‘Left vs. Right’, and let the internet pick a winner by the number of search hits each word gets.
from Africa News blog:
African officials meeting in Tunis this week to discuss the impact of the crisis argued that the continent needed better representation, given the effects that the turmoil is having in Africa as well as the continent’s growing financial importance. The complaint could apply equally to other developing countries.
It’s a familiar pattern.
Mugabe imposes his will and MorganTsvangirai’s opposition cries foul.
Will former South African President Thabo Mbeki be able to mediate a breakthrough? After being ousted as president by his ANC party, he might not be so confident to be seen walking hand in hand with Mugabe at the airport as he has in the past.
Ministers and officials from more than 100 countries, as well as representatives of multilateral development and financial agencies, are meeting in Accra, Ghana this week (Sept. 2-4) to discuss ways of making development aid more effective.
At its best, development aid from rich countries to help the world’s most needy can really touch the poor, giving them the means and the know-how to transform their lives and future in self-sustaining projects that profitably plug their labour and activities into the globalised world.