In 2024, global employment expanded in line with a growing labour force, keeping the global unemployment rate steady at 5 per cent, similar to that of 2023. Slowing productivity growth remains a major bottleneck with respect to expanding the opportunities for decent work. On the back of stable unemployment rates, …
The Punjab government has ordered a probe into a series of suicides by small and marginal farmers and landless workers in Sangrur district of the state. This decision was taken by Punjab chief minister Prakash Singh Badal after a Chandigarh-based human rights group, Movement Against State Repression (MASR), found that …
Since 1985, countries -- particularly in Latin America -- have negotiated several arrangements to reduce their crippling debt burden. They promptly ended up losing the right to decide what to do with the money saved. In lieu of debt reduction, they have, in what are called "debt for nature" swaps, …
THE CHINESE government has been forced to take some drastic measures to assuage the country's long-suffering farmers, who are moving to the cities in droves in search of more money. For one, it has forbidden the construction of new golf courses and horse-racing tracks -- symbols of a "decadent" Western …
BRITISH aid agency Oxfam has flayed the International Monetary Fund (IMF) and the World Bank (WB) for their complacent approach to the problems caused in sub-Saharan Africa because of its huge external debt, which is in excess of $183 billion. "After a decade of structural adjustment programmes implemented under the …
SUB-SAHARAN Africa's debts have increased three-fold since 1980 and the only prospect is that the arrears will mount as just half the scheduled payments are being met. Solutions being explored range from implementing the so-called Trinidad terms to creating a UN Economic Security Council (ESC), whose 11 permanent members would …
WHAT DOES the International Monetary Fund have to do with land degradation? On the face of it, nothing. But in reality, quite a lot. A degraded landscape in an increasingly integrated world is the end-product of a long chain of economic processes. Debt leads to debt repayment, which in turn …
THE INTERNATIONAL aid organisation, Oxfam, wants Western governments to evolve a Marshall plan to tackle the problem of poverty in sub-Saharan Africa and prevent 9 million people in the region falling below the poverty line each year. The organisation suggests writing off much of the region's external debt, which amounted …
THOUGH the implementation of a structural adjustment programme has yet to be announced by either Indonesia or the World Bank, recent events indicate such a step has already been taken. The 1993-94 Indonesian budget increases total income-tax revenue by 36 per cent and also raises the cost of transport, electricity …
ONTARIO Hydro's newly appointed chairman, Maurice Strong, has initiated steps to reduce the corporation's debt and review its operations, including its nuclear programme. Ontario Hydro, Canada's largest power corporation, owes US $29 billion. It raised its rates by 11.8 per cent in 1992 and in addition shelved expansion plans, retrenched …
THE NETHERLANDS is negotiating 10-year, bilateral, sustainable development agreements with Bhutan, Benin and Costa Rica, which, Dutch officials say, will be strikingly different from other such treaties. The agreements recognise that the rich should reduce their use of global resources, repay their ecological debt and assist the poor in improving …
FOR THE first time in a decade, developing countries have received more money from developed countries than they returned as interest on debt. But losses caused by declining terms of trade continued to offset the gains in aid. The United Nations secretary general's report, however, cautions this turnaround in resource …
