(June 15, 2009) As the economic crisis continues to work its way through the global economic system, the World Bank is using the slowdown as an opportunity to increase lending to the developing world. According to the bank’s president, Robert Zoellick, the bank will increase its lending by $100 billion over the next three years. In 2009 alone, the bank plans to triple its lending from $13.5-billion to $35-billion.
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Pakistan asks IMF for $4bn to plug budget deficit
(June 14, 2009) Pre-empting possible delays in external flows, Pakistan has asked the International Monetary Fund (IMF) for a $4 billion stand-by loan to finance the yawning budget gap in the year 2009-10 in case multilateral donors fail to release the pledged amount to Islamabad.
China Suspends Construction Of Two Hydropower Dams In Yangtze River Region
(June 12, 2009) China Environment Ministry has suspended the construction of two hydropower dams in the upper Yangtze River region. The ministry has suspended because of the construction work was started without the necessary environmental assessments, which is illegal. These hydropower dams require additional environmental reviews to proceed. These hydropower dams are part of a projected CNY200 billion hydropower project along the Jinsha River tributary in southwest China.
Correa prepares to arbitrate Ecuador’s odious debts
(June 12, 2009) Ecuadorian president Rafael Correa said his government is considering arbitrating a resolution to his country odious debts with multilateral lenders and other governments.These debts were imposed by force,he said Correa said last night in Quito. We have rebelled against the system that established odious, unfair, illegal, immoral debts.
Treasuries are out, Iraq debt is in
(June 12, 2009) The portfolio manager of Templeton Global Bond Fund, Michael Hasenstab, says he’s investing in Iraqi bonds rather than treasuries, U.K. gilts or Japanese bonds. He believes the massive amount of debt occured by the U.S. and other governments over the past year will drive up inflation, weaken their currencies and hamper economic growth.
Eureka Films’ documentary “Saving the Mekong” now on You Tube
(June 10, 2009) “Saving the Mekong”, produced by Eureka Films, portrays how fishing communities in the Siphandone (Four Thousand Islands) stretch of the Mekong in southern Laos are threatened by hydro development. The proposed developments would block fish migrations and push the endangered Irrawaddy dolphin to extinction.
June 4 incident, Dai Qing and the Three Gorges dam project
(June 9, 2009) Abstract: This article by Chinese engineer Dr. Wang Weiluo marks this year’s 20th anniversary of the Tiananmen “Incident” by linking the events of that fateful day to the Three Gorges dam project.
Back to Sachs: astrology, despotism, and Africa
(June 2, 2009) Sachs Debate, Day Eight. Surprised that Sachs did not understand the point about Occam’s Razor — that a theory should be as simple as possible but no simpler. African poverty is complex, but our theories about it should not have so many complex Buts, Ors, and Excepts that they are impossible to disprove. Ignoring Occam’s Razor is how astrologists stay in business.
Something smells fishy
(June 9, 2009) When the World Bank decided to finance the Pak Mun dam at the confluence of the Mekong and Mun rivers in Thailand, it faced fierce criticism and relentless opposition due to the project’s predicted environmental damage.
China’s ambitious water diversion project way beyond budget
(June 9, 2009) After some seven years in progress, China’s South-to-North Water Transfer Project has burst its planned budget by tens of billions of yuan and run into delay.
A third way
(June 8, 2009) What started out as a critique last week of Dambisa Moyo and her new book “Dead Aid” by Jeffrey Sachs morphed into a full-on war – Jeffrey Sachs and the pro-aid establishment vs. William Easterly and the aid skeptics.
African leaders call for the DIY approach
(June 6, 2009) As the economic crisis continues to work its way across the globe, the plight of African countries has been used as a reason for increasing foreign aid to the developing world. But a new tone has taken root amongst lawmakers in Africa, with a number of African leaders saying its time for leaders across the continent to find ways to fix problems without relying so heavily on foreign aid.
Report: Beijing’s water and waste performance at Olympics earns Gold
(June 9, 2009) Beijing’s water management leading up to the Olympic Games serves as an example to other cities of how to achieve maximum efficiency in the use and management of scarce water resources. Beijing should continue its efforts. Further, the International Olympic Committee should promote the development and implementation of environmentally sound water and waste management in all cities being considered for future games.
Omar Bongo, the last of Africa’s “Big Men”, dies at the age of 73
(June 9, 2009) Gabon’s President Omar Bongo – the world’s longest-serving president – died today in a hospital in Barcelona, Spain. Mr. Bongo leaves behind a political legacy marred by corruption and patronage – marking a throwback to an era when Africa was ruled by “Big Men.”
China’s economic stimulus package raises environmental concerns
(June 8, 2009) China’s minister of environmental protection, Zhou Shengxian, has expressed concern that the country’s economic stimulus plan will have a negative impact on the environment. In an interview with China Daily, Zhou warned that he will push his 200-odd staff ministry into an all-out “warfare” to promote environmental and green initiatives and policies.
Patricia Adams
Dai Qing
Fan Xiao
Lawrence Solomon
Mu Lan
Probe International
Lisa Peryman
Probe Media
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