In The News

Kuroda Plans Bond Binge for Bank of Japan

Jun Hongo April 8, 2013
Incremental measures have not been enough to lift a stagnant Japanese economy. The central bank announced plans for ending Japan’s deflation – adding to the money supply by expanding purchases of government bonds and allowing purchase of riskier assets, reports Jun Hongo for the Japan Times. The strategy could double Japan’s monetary base and “will target longer-term debt, including JGBs with...

Coffee Rust Plagues Farmers in Mexico

Frédéric Saliba April 2, 2013
Fungal diseases are a major challenge in farming, and coffee growers in Latin America must contend with coffee rust – a disease caused by the Hemileia vastatrix, an orange dust that causes the leaves on coffee bushes to fall away, reports Frédéric Saliba for Guardian Weekly. “The crisis seems particularly serious in Central America, with a state of emergency already in force in Honduras, Costa...

The EU as Last-Ditch Escape Artist

Jonathan Fenby April 1, 2013
Europe plays a dangerous game by tackling debt crises country by country. The latest economy to implode is a small nation that gained a reputation as an offshore banking center: Cypriot banks invested in Greek bonds and, after Greece imploded, required rescue – which comes at a cost. With deposits in Cypriot banks insured up to €100,000, holders of larger deposits may lose half their savings....

IMF Signals Push to Scrap Energy Subsidies

Robin Harding March 29, 2013
The globe could solve many fiscal woes by ending nearly $2 trillion in fuel subsidies, the International Monetary Fund claims. “The fund’s call suggests higher fuel prices could become a central condition of IMF help in the future, with subsidies proving a sticking point in its talks with countries such as Egypt, Pakistan and Ukraine,” reports Robin Harding for the Financial Times. The IMF lists...

Moscow’s Mysterious Move on Cyprus

Owen Matthews March 28, 2013
Russian deposits may account for about one third of Cypriot bank accounts worth more than €100,000, which could be frozen and taxed by up to 25 percent as part of a EU bailout deal. Russian President Vladmir Putin has denounced such methods for rescuing the Cypriot economy and “many non-Russian commentators agree with Putin that raiding private savings risks undermining confidence in Europe’s...

China's Xi Jinping Visits; Africa Asks, What Are We Getting Out of This?

Peter Ford March 27, 2013
Chinese trade with Africa has grown fourfold in six years, up to 2 million. Chinese are based there, and China’s African investments are worth near $200 billion. Still, Africans are questioning if trade is tilted too much in China’s favor, with leaders and pundits suggesting that selling off minerals and natural resources and failing to develop a manufacturing base repeats the legacy of...

India’s Agriculture on the Brink

Deepak Gopinath March 27, 2013
Sound food policy should be a priority for India, on track for the world’s largest population by 2025. India has also achieved status as a major food exporter with rice, wheat and buffalo beef. Indian policies emphasize minimum support prices for farmers and subsidized crops for the poor, but these in turn spur food inflation, price volatility, overproduction of grains and overworked land. The...