This past October I participated in a 2-day Mobile Money Summit in Port Moresby, Papua New Guinea. Why Papua New Guinea? There is growing interest among telecom companies and banks there in mobile financial services. Although the meeting was attended by more than 50 people from around the Pacific, the majority of the participants were from companies doing business in Papua New Guinea.
|One thing villages in Pacific Island countries can do is to organize the farmers to cultivate the land of participating farmers collectively, increasing manpower and thus improving productivity.|
Land development for commercial agriculture is limited in most of these islands due to issues surrounding communal ownership of land. Take an example of a small farming village in the rural areas near the capital city of Fiji. This village consists of seventy households, of which sixty live below the national poverty line. The head of each household has the right to cultivate a portion of the communal land to feed his family.
The direct financial effects of the global financial crisis have so far been limited due to Zambia’s reliance in domestic funding and limited exposure to external credit lines. However, the central bank has increased interest rates sharply as a result of portfolio outflows.
Writing in the Ethical Corporation newsletter, Rajesh Chhabara recently opined on the near-term prospects for microfinance in Asia. Their take? Things are just hunky-dory:
The hall was large and chilly. But it was also full. Nearly 80 people had come to listen to a presentation on Mongolia’s ratings in the 2009 Doing Business survey. I was happy to see a healthy mix of government officials, private firms, developmental organizations, NGOs and journalists there.
The power of public opinion is the power of ordinary citizens; it is the power of aware, engaged multitudes. And there is a way of understanding the spectacular events of 2008 in terms of the power of public opinion. Let's take just a few.
1. The first is the crisis in financial markets and the global economy. Whatever technical experts eventually decide to be the origins of the crisis, there is no doubt that public opinion has played a role in intensifying the crisis. It has done so through the collapse of public confidence in financial institutions generally. For what is 'confidence' but the opinion widely shared that the financial system is sound and your savings and investments are safe? That collapsed in so much of the world in 2008, beginning in the United States. There is no doubt that restoring 'confidence' will be crucial to ending the crisis; that means, recreating majority opinion in the stability and secure management of the global financial system.
The main impact of the global financial crisis on the DRC economy is the slowdown in overall economic growth, which is projected to be 6 percent in 2009. With the crisis going on, the situation is likely to deteriorate. Two of the major sectors expected to drive DRC growth in 2009, i.e. infrastructure and mostly mining, have already been severely affected by the crisis.
As usual on Fridays, from Raj Nallari and Breda Griffith's lecture notes.
Empirical Evidence on Impact of Globalization on Women
Available studies and data, which are rather limited, is arranged around some broad themes and discussed below and next week. Little is known about the impact of macroeconomic policies on women, such as changes in exchange rates, interest rates, minimum wages, and commodity prices.