Reposted from The Atlantic
By Nina Wegner
A new mine promises to provide great wealth to Mongolia. But at what cost?
The launch this year of Oyu Tolgoi, the world’s largest untapped copper-and-gold mine, has ignited a debate in Mongolia about how to avoid a massive rise in income disparity. While most of the country’s wealth accrues in the nation’s capital, the vast majority of nomadic herders, who make up a third of Mongolia’s population, remain skeptical that they will reap any benefits from this new venture. The herders who live near Oyu Tolgoi in the Gobi Desert say they are getting both the best and worst of the deal. More…
Reposted from Haiti Libre
Haiti’s GDP growth is insufficient to create jobs and lift Haitians out of poverty
Following a mission of the the International Monetary Fund (IMF) in Haiti, on the macroeconomic situation of the country from 28 November to 6 December, Mr. Boileau Loko, Head of the IMF mission for Haiti, accompanied by Mrs. Marie Carmelle Jean-Marie Minister of Economy and Finance and Mr. Charles Castel, Governor General of the Bank of the Republic of Haiti, declared Thursday during a during a joint press conference, that after an emergency assistance of about $ 270 million [just after the earthquake of January 2010] “[...] The monetary fund has established with the Government of Haiti, a 3-year program, which ended in 2013, whose ultimate objective [...] is to see put in place the conditions that allow to create resources, create jobs and reduce poverty.
The year 2011-2012 was a bit below expectations. The growth rate of GDP (Gross Domestic Product) would be currently to 2-3% for the fiscal year ending end September 2012, this is below our initial projections, this is also below the growth rate that should realize Haiti to be in the next 20-30 years an emerging country.
Reposted from The Financial Express
A presentation programme on ‘Private Sector Development: Role of ADB’
Juan Miranda, Director General, South Asian Regional Department (SARD) of Asian Development Bank (ADB) Thursday said that Bangladesh has become a part and parcel of the global economy throughout significant progress in terms of economic and social development.
He however, said still Bangladesh needs to grow more rapidly and reduce poverty faster. More…
Reposted from Gulf News
Nazmul Qununine, Bangladesh Ambassador to the UAE
By Samia Badih
Abu Dhabi: The volume of trade between Bangladesh and the UAE is likely to cross the $1 billion (Dh3.67 billion) mark for the financial year ending July 2012, said Nazmul Qununine, Bangladesh Ambassador to the UAE.
“Trade is fast becoming an essential component of Bangladesh’s developmental strategy over the last decade or so and Bangladesh is now not dependent on foreign aid,” he told Gulf News. More…