According to the World Bank, excluding South Africa, Sub-Saharan Africacontinued to grow strongly in 2013 with output increasing by 6.0 percent, well above the global gross domestic product (GDP) average of 2.4 percent. “Africa’s povertyrates have continued to decline, despite the adverse effects of the recent food, fuel, and global economic crisis”, added the UNDP’s MDG Report 2014. “Sub-Saharan Africa anticipates continued strong growth in much of Sub-Saharan Africa, driven by efforts to invest in infrastructure and by strong agricultural production,” wrote the IMF’s October 2014 Regional Economic Report. Consequently, one can say the perspectives for Africa’s economy as a whole look better than ever. Yet, the unprecedented wave of migrants willing to risk their lives in order to land on European shores highlighted that much remains to be done for Africa’s high level of economic growth to turn into durable development for all on the continent.
Although a portion of the African migrants do seek asylum in Europe because war is raging where they used to live, most of them had their risky voyage motivated by economic reasons. Their number has reached such records high that the European Union has decided to establish a new program for rapid return of irregular migrants, this way targeting directly the economic migrants whose motivations will now likely be considered insufficient compared to migrants from other regions who fled war-torn countries, mainly Libya, Syria and Iraq. The situation has become so serious that even the UNhas a preference about who’s got to stay in Europe and who’s got to go back home. What’s now called the Mediterranean crisis is indicativeof the state of the EU’s economy that can no longer afford to welcome everybody. It tells even more about Africa’s economic growth that doesn’t benefit everyone but seems encouraging enough for the EU to craft a “resettlement policy” shortly.
Asian stocks could be rising even more as analysts bet on more stimulus from central banks. “Weak data from China makes us think that there’s impending development ahead,” a source said.
Poland has combinedrobust economic growth with reducing some of the pressures on its environment since it joined the EU in 2004, according to a new OECDreport.
Most of the Latin America countries have not yet rebuilt their fiscal space, despite buoyant commodity revenues and relatively strong growth in the aftermath of the crisis, read an IMFreport.
NATO and Ukraineestablished a formal framework for the former’s Support and Procurement Agency (NSPA) to act as the Executing Agent for two of the NATO Ukraine Trust Funds.
“While growth in the first quarter of this year was disappointing, (…) the consensus among private forecasters is that our economy will expand at a healthy pace for the rest of the year,” said US Treasury Secretary Jacob J. Lew.
General Motors (GM) announced it will invest $5.4 billion in US plant improvements during the next three years, including details of $783.5 million for three Michigan facilities.
Growth in Latin America and the Caribbean is expected to decline for a fifth consecutive year - dipping below 1 percent in 2015 - although there are clear differences along North-South lines, the IMFsaid.
Finally, officially because of “internal issues”, because of special treatment he allegedly was refused according to media, North Korean leader Kim Jong-un will not visit Russia.
Iran’s Foreign Minister Javad Zarifhad what he called a “frank conversation” on Iran talks, region and beyond at the NYU. He also battled with US Senator Tom Cotton on Twitter.
UK election enters its final week. Latest poll from IPSOS Mori showed a clear boost for PM David Cameron and put Conservatives at 35%, Labour at 30%, and UKIP at 10%.
Qatardecided to acquire 24Rafale aircraft to equip its Air Force. The contract is to be signed on May 4, 2015 in Doha in the presence of French President François Hollande.
The Securities and Exchange Commission (SEC) voted to propose rules to require companies to disclose the relationshipbetween executive compensation and the financial performance of a company.
PIMCOannounced that Dr. Ben Bernanke, former Chairman of the Federal Reserve (Fed), will serve as a senior advisor to the firm, contributing his economic expertise and insights to the firm’s investment process.
Goldman Sachs Group Inc. isone of two lead investors in a $50 million funding round for bitcoin startup CircleInternet Financial Ltd, valuing Circle at around $200 million.
US-based XPO Logistics will acquire a majority interest in Norbert Dentressangle, a France-based leading global provider of contract logistics with 662 locations and approximately 42,350 employees.