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Viewpoint by Dr Ram Puniyani*
NEW DELHI (IDN) — Pakistan is in the grip of a massive economic crisis. Wheat flour costs Rs (PKR) 150 per kg. Staple diet roti (type of bread) costs Rs 30 in a country where the average daily earning is Rs 500 with an average household needing around 10 rotis daily. The US dollar is close to PKR 230.
By Lisa Vives, Global Information Network
NEW YORK | KAMPALA (IDN) — For years, few expected a financial crisis in Ghana, much less to see Ghana become a debtor nation like some of its more troubled neighbors in West Africa.
“Ghana is a major cocoa and gold exporter, so why is the West African nation battling its worst economic crisis in decades?” asked Kent Mensah, a journalist.
Viewpoint by Dan Steinbock
The writer is the Founder of the Difference Group. The following are extensive excerpts from the article, originally published by China-US Focus on December 16, 2022.
NEW YORK (IDN) — In a recent Foreign Affairs commentary, Mohamed A. El-Erian warned that we are not facing just extraordinarily challenging business-cycle fluctuations but structural and secular long-term pressures. As a result, “the global economy may never be the same.”
By Kiel Institute for the World Economy
BERLIN | KIEL, Germany (IDN) — China has been exporting aid goods worth around USD 835 million annually since 2017. These material resources are distributed by China primarily according to geopolitical interests and increasingly to Asia and Africa. The outbreak of the COVID-19 pandemic in 2020 meant that China gained political ground worldwide with medical aid supplies—especially face masks and vaccines. Recently, grain shipments to Africa, in particular, have been on the rise.
By Jutta Wolf
BERLIN (IDN) — Researchers at the Institute for World Economy IfW Kiel and DIW Berlin have analysed the economic impact of jointly implementing punitive measures in the context of the 2012 Iran and 2014 Russia sanctions. They find that coalitions serve two crucial purposes—they not only magnify the economic cost imposed on the target but also reduce domestic costs for sanctioning states.
India's Adani Greenwash in Mannar and Pooneryn
Viewpoint by Darini Rajasingham-Senanayake
COLOMBO (IDN) — The Argentine capital, Buenos Aires, was rocked again by massive protests against austerity measures imposed by the International Monetary Fund (IMF), which have been taking place since July 2022. Structural reforms with austerity have resulted in soaring inflation, currency depreciation, poverty and inequality that is eroding Argentine society and economy while enabling bail-out of private lenders and vulture funds like BlackRock.
Viewpoint by John P. Ruehl
This article was produced by Globetrotter. John P. Ruehl is an Australian-American journalist living in Washington, D.C. He is a contributing editor to Strategic Policy and a contributor to several other foreign affairs publications. He is currently finishing a book on Russia to be published in 2022.
Viewpoint by Darini Rajasingham-Senanayake *
COLOMBO (IDN) — A shortage of exorbitantly privileged American Dollars, the global reserve fiat currency, which is not backed by gold, silver, oil or drugs, is the purported reason for Sri Lanka's compounding crisis and the international media narrative of 'famine' in the country.
The financial crisis that has brought the strategic Indian Ocean Island nation to a standstill, which coincidentally stymies protests, originated with an International Sovereign Bond (ISB), debt trap and Default in April this year.
Southern Voices to be Heeded: A Call for Debt Justice, Debt Jubilee and Debt Cancellation
COLOMBO (IDN) — The Coalition for Economic Democracy in Sri Lanka (CEDSL) is a group of concerned academics, activists, agricultural, fisheries and industrial workers, students, businesspersons, trade unionists, and professionals based 'in country' and overseas, including the diaspora, who uphold the values of economic rights and justice in public policy making.
IDN-InDepthNews offers news analyses, features, reports and viewpoints that impact the world and its peoples. It has been online since 2009. Its network spans countries around the world.
