Tuesday, March 08, 2011

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World Bank Press Review

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This summary is prepared by the External Affairs Department of the World Bank. All material is taken directly from published and copyright wire service stories and newspaper articles. The daily summary and other news can be found on the World Bank’s external website at http://www.worldbank.org/news. For inquiries call (202) 473-7660 or send a written request to the News Bureau.    
Dear Global Patriotic Citizens & Friends of Greater Ethiopia and African Union Without Borders!

These are interesting times indeed!  As the global youth who constitute more than 66% of the global population are seeking for jobs, meaning for life and a space under the universe, the adults of this world who are less than 33% of the global population are not paying attention.

The new consensus at the IMF should consider those nations whose population are struggling with youth demographics and those with senior demographics.

The rich and the poor, and the unemployed majority youth.  This is the challenge of the time!

Good Governance that is transparency and accountability and responsiveness to the majority stakeholders demands that we pay attention to the restless unemployed and increasingly poor youth who have nothing to loose but their freedom if they burn the world as we know it as it is not accountable to their needs and perspectives.

With the advancing technology and social networking the youth of the world can organize any thing they want.

The days are gone where few geriatrics can control the networks and the means of communication and get away with murder or plunder, which ever part of the world one lives today.

The time to engage the youth in the future is now!  Making few changes here and there and pleasing this constituency against the other is not going to cut it.

I believe, the UN, World Bank and IMF should have youth and women represention!  No more Geriatric males pretending they represent 7 Billion People, when they probably represent less than one billion people.

Please read the World Bank's perspective and share your alternative ones!


Tuesday, March 08, 2011
Today’s Headlines:
  • At IMF, The Hunt For A New Consensus
  • FAO Calls For Gender Equality To Promote Sustainable Development
  • UN Seeks $160 Million To Help Refugees
  • Op-Ed: Empowering Women Helps World Growth
  • Op-Ed: Inclusive Growth: From Desirable To Essential
At IMF, The Hunt For A New Consensus. “It was a fitting eulogy for the economic orthodoxy that once governed the world, given by one of the men who helped develop it. ‘Before the crisis, we had converged on a beautiful construction’ to explain how markets could protect themselves from harm, said International Monetary Fund (IMF) Chief Economist Olivier Blanchard. ‘But beauty is not synonymous with truth.’ A globalized world, it turns out, linked companies and economies together in ways not fully understood. What's less certain - and the focus of Blanchard and a panel of top world economists who gathered at the IMF this week - is whether a new consensus can be salvaged out of the ashes of the old….” [The Washington Post]
Xinhua adds that “…IMF Managing Director Dominique Strauss-Kahn said international policy cooperation was fairly easy during the crisis, because countries faced relatively similar situations, and the clear and present danger of the crisis spurred leaders into coordinated action. However, the current phase is much more complex, which has made international coordination more challenging. ‘Countries are recovering from the crisis at different speeds, so countries are facing different economic situations. Also, leaders naturally want to go back and deal with problems at home, though they forget that in today's globalized world, there can be no domestic solution to global problems,’ Strauss-Kahn said….” [Xinhua/Factiva]
In related news, Reuters reports that, “…IMF First Deputy Managing Director John Lipsky, in an acknowledgment of the societal costs of joblessness, said the Fund would include an analysis of employment issues in future assessments of its member nations' economies. Until now, the IMF has not focused heavily on how policies impact employment in member countries, instead leaving that area largely to the International Labor Organization and the World Bank….” [Reuters/Factiva]
FAO Calls For Gender Equality To Promote Sustainable Development. “If women in rural areas had the same access to land, technology, financial services, education and markets as men, agricultural production could be increased and the number of hungry people reduced by 100-150 million, Food and Agriculture Organization (FAO) said Monday.
In its 2010-2011 edition of The State of Food and Agriculture report, the Rome-based UN agency said yields on plots managed by women are lower than those managed by men, but this is not because women are worse farmers than men. They simply do not have the same access to inputs. If they did, their yields would go up, they would produce more and overall agricultural production would increase….” [Xinhua/Factiva]
AFP adds that “…FAO Director-General Jacques Diouf told a conference in Rome that ‘gender equality is not just a lofty ideal, it is also crucial for agricultural development and food security.’ Women across the world do not have the same access to land or farming resources as men. For those developing countries for which data are available, between three and 20 percent of all landholders are women, the report said. [However,] on average, women make up 43 percent of the agricultural labor force in developing countries, ranging from 20 percent in Latin America to almost 50 percent in Asia and sub-Saharan Africa, according to the report….” [Agence France Presse/Factiva]
Reuters writes that “…the number of undernourished people in the world has fallen to 925 million people last year from an estimated 2009 peak of 1.023 billion, but it remained unacceptably high, the FAO said. In 2010, 16 percent of developing countries' populations were undernourished, down from 18 percent in 2009 but still well above the UN's Millennium Development Goal to halve to 10 percent the share of the hungry between 1990 and 2015, it said….” [Reuters/Factiva]
UN Seeks $160 Million To Help Refugees. “The UN has launched an urgent appeal for aid to provide food and shelter for 1m foreign workers and others fleeing violence in Libya. More than 200,000 had already escaped into Tunisia and Egypt, with a similar number expected to follow, while some 600,000 were trapped by the fighting, the UN said on Monday as it launched an appeal for $160 million to cope with the crisis in the coming months. Half the money would go to providing shelter in border camps and much of the remainder to feeding refugees….” [Financial Times]
Xinhua adds that “…according to UN Humanitarian Affairs and Emergency Relief Coordination Under-Secretary General Valerie Amos, the appeal was based on a short-term planning scenario that projected that up to 400,000 people could leave Libya, including the 200,000 that had already left, and that another 600,000 people inside Libya might need humanitarian aid. She said that this flash appeal aims to meet a planning objective that spans three months. It would be revised in two weeks to reflect the evolving situation….” [Xinhua/Factiva]
Reuters reports that “…more than one million people fleeing Libya and inside the country need humanitarian aid, the UN said on Monday.  At the weekend, the Geneva-based International Organization for Migration (IOM) said a total of 207,756 people had crossed into Egypt, Tunisia and Niger. Of these, 110,331 were in Tunisia, 90,306 in Egypt and 3,119 in Niger, one of the world's poorest countries. The IOM said up to 100,000 could eventually cross the Niger border from Libya….” [Reuters/Factiva]
Op-Ed: Empowering Women Helps World Growth. In an opinion piece published by Bloomberg News, US Secretary of State Hillary Rodham Clinton writes, “One major emerging market hasn’t received the attention it deserves: women. Today, there are more than 200 million women entrepreneurs worldwide. Women earn more than $10 trillion every year, which is expected to grow by $5 trillion over the next several years….Throughout the world, women do two-thirds of the work, yet they earn just one-third of the income and own less than 2 percent of the land.  
If we invest in women’s education and give them the opportunity to access credit or start a small business, we add fuel to a powerful engine for progress for women, their families, their communities and their countries. Women invest up to 90 percent of their incomes on their families and in their communities. As Robert Zoellick, president of the World Bank said, ‘gender equality is smart economics.’
This week, we celebrate the 100th anniversary of International Women’s Day. It’s an occasion for honoring the achievements of women. But International Women’s Day is also an occasion for recognizing how much more needs to be done to support women and girls worldwide.  If we decide to invest in women and girls, we will strengthen our efforts to fight poverty, drive development and spread stability. When women thrive, families, communities and countries thrive -- and the world becomes more peaceful and prosperous.” [Bloomberg]
Op-Ed: Inclusive Growth: From Desirable To Essential. In an opinion piece published inThe Huffington Post, World Bank Independent Evaluation Group Director General Vinod Thomas writes, “The global financial crisis and the spike in food prices have pushed millions of people into poverty worldwide.  The concern for inclusive growth, or a growth pattern that includes all income strata, is not new. What is different is the urgency for achieving greater inclusiveness – and a nascent realization that without it, sustained growth will not be possible in the future.
People stress different dimensions of inclusive growth. First, there is the crucial connection between income inequality and poverty.  Second, many see the value of inclusive growth in the stability and peace it can promote.  Third, some see greater inclusion as an aid to growth itself.  Finally, I'd go further to say that without greater inclusion, countries will not be able to grow in a sustained way in the coming years.  
There seem to be four steps countries can pursue for greater inclusion. First, building on the impressive record in many places for expanding access to basic education, we need actions to increase access for secondary and tertiary education.  Second, areas with high labor intensity deserve special attention, especially when we have seen the harmful effect of their neglect, as in the case of agriculture.  Third, remittances present a yet to be capitalized area for development.  Fourth, a state that is accountable to its citizens, with checks and balances that help to minimize capture by particular groups, is essential.
Inclusion is vital for getting quality results from economic growth. What is more, inclusion is necessary to ensure that growth can indeed be sustained in the future.” [The Huffington Post]
Also in This Edition, Briefly Noted Incumbent Ivory Coast leader Laurent Gbagbo has issued a decree under which the state becomes the sole purchaser of cocoa in the world's top grower and handles its export to world markets, state television said on Monday. [Reuters/Factiva]
US President Barack Obama said on Monday he had authorized up to $12.6 million in aid to assist refugees from unrest in the Ivory Coast. [Reuters/Factiva]
Benin will seek to register nearly 300,000 voters left off the electoral list ahead of this weekend's presidential ballot, with the poll having already been postponed twice. [Agence France Presse/Factiva]
Mongolia needs to look beyond the coal and copper mines that are driving its economic boom to find a more balanced model of growth, Prime Minister Sukhbaatar Batbold said. [Bloomberg]
China's central government plans to increase spending on health care by 16.3 percent this year to roughly $26 billion, as part of a broader goal to improve public health and to complete overhauls to the country's health-care system it introduced in 2009. [Dow Jones/Factiva]
China plans to shrink its trade surplus further this year but is looking for ways other than rapid yuan appreciation to ease tensions with global trading partners, said Commerce Minister Chen Deming. [The Wall Street Journal
The International Monetary Fund expects the United Arab Emirates economy to grow by 3.25 percent this year. But it also cautions that regional turmoil could have an economic spillover effect. [Associated Press/Factiva]
The World Bank on Monday called on governments, international aid agencies and other development partners to join a new global knowledge platform aimed at bolstering green growth. The platform is being developed jointly by the World Bank, the UN Environment Program and the Organization for Economic Cooperation and Development. [Xinhua/Factiva]

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