In The News

Leftist Brazilian Victor Moves to Calm Nervous Markets

Larry Rohter October 29, 2002
Brazil is suffering a severe economic crisis. In the past year, the value of Brazilian currency has fallen by 30 percent, and the people are hungry and frustrated. Many now look to President-Elect Luiz Inácio Lula da Silva to guide their country out of dire economic straights. da Silva ran a campaign full of populist rhetoric – inspiring to Brazilians, but frightening to foreign investors who...

World Donors Praise Kabul’s Budget and Development Plans

Carlotta Gall October 14, 2002
With the majority of its institutions and infrastructure in ruins following first civil war and then the war on terror, Afghanistan is urgently seeking international aid that would allow the country to get back on the road towards self-sufficiency. President Karzai and his government estimate the country will need at least $10 billion over the next few years to develop a viable economy. Thus...

Brazil Relief Rests on Hopefuls' IMF Stances

Raymond Colitt August 14, 2002
After the 1998 Russian financial crisis and Argentina's economic collapse, the International Monetary Fund's latest target for support is Brazil’s struggling economy, lending that country 30 billion US dollars last week. This seemed like good news for Brazil which hoped that the IMF loan would attract international investment. However, despite the IMF's support, international...

Baffled by Brazil

Ricardo Hausmann August 14, 2002
Emerging markets such as Brazil and Uruguay need stability in order to sustain growth. The goal behind IMF and US foreign aid should thus be to provide stability. However, Paul O’Neill (US Treasury Secretary), the IMF, and US foreign aid serve more to hurt than to help economic stability, argues Harvard Government Professor Ricardo Hausmann. In order to protect emerging markets when financial...

Japan will not slash aid budget for East Asia

Kwan Weng Kin August 13, 2002
As the largest provider of Official Development Assistance (ODA) to East Asia, Japan plays a crucial role in maintaining regional economic stability. However, domestic concerns over Japan’s declining fiscal health have left others anxious about its role as a benefactor to China’s growing prosperity . Some feel that Japan is financing China’s economic growth. Nevertheless, recognizing East Asia as...

Foreign Distillers Seek to Slake India's Thirst

Saritha Rai May 5, 2002
Diminished social disapproval of alcohol consumption among India's middle class, coupled with a national economy increasingly open to foreign investment, is attracting big foreign distillers to India. For decades, India vigilantly regulated foreign investment, choosing instead to bolster and develop its local industries. With increased pressure from the World Trade Organization (WTO) to...

More Aid, More Need: Pledges Still Falling Short

Tim Weiner March 24, 2002
The US is not living up to its aid responsibilities despite growing concerns about global poverty after September 11, says this article in The New York Times. Though President Bush has drawn an explicit link between poverty and terrorism, and is substantially increasing aid to poor countries as a result, US aid remains restricted to specific counties and is still far less than aid from its...