Daily Press Cuttings

 

Friday 25th February 2000

Il Corriere della Sera: (and this week's Italian press) Jubilee 2000: Front page coverage of the San Remo music festival and the support of musical superstars Jovanotti and Pavarotti for the Jubilee 2000 campaign.

IHT: Ethiopia: At least 8 million Ethiopians are likely to suffer hunger or starvation this year, a crisis that could rival the famine in 1984 and 1985 that killed at least 1 million people, UN and independent relief officials have said. A joint UN-private agency reconnaissance mission is planned for the hardest-hit regions of the country. Colombia: The Colombian army, which the US administration proposes to supply with as much as $1 billion in training, equipment and other assistance, has been accused of having close operational ties to Colombian paramilitary groups that are responsible for extensive human rights abuses and increasingly involved in drug trafficking. The charge comes in a report compiled by Human Rights Watch after a yearlong investigation aided by Colombian prosecutors. UN/Congo (Kinshasa): The Security Council on Thursday authorised a 5500 member force to monitor a shaky cease-fire in the conflict in the Congo, which has drawn in five African countries.

FT: Nigeria: The death toll in religious fighting in the northern Nigerian city of Kaduna rose into the hundreds yesterday as police brought the city under control after three days of violence between Christians and Muslims. FT leader says that the religious clashes present President Obasanjo with his toughest challenge since he took office nearly a year ago. He needs strong international support to repair the ravages of military rule and alleviate the poverty that fuels the violence. Inequality: Comment from two economists, Mattias Lundberg and Branko Milanovic that in the short term greater openness to trade slows income growth amongst the poorest 40 per cent of the population. Although over the longer term everyone benefits from trade openness, the costs of adjusting are borne exclusively by the poor. IMF: EU countries yesterday appeared set to back Germany's Caio Koch-Weser as their candidate to head the IMF. French officials said this week's nominations of Stanley Fischer, a US national, and Eisuke Sakakibara of Japan would solder together EU support for the German candidate.

The Independent: Mozambique: Further coverage of the floods which have created a lake the size of the Netherlands and cut the devastated country in two.

The Guardian: Mexico: Article looks at the parties preparing for the presidential elections in Mexico in July and the prospect for the first time the 70-year monopoly of the Institutional Revolutionary party (PRI) is about to end. Since its inception in 1929 the PRI, which has been in power longer than any other party in the world, has permeated all areas of society in Mexico and become a political freemasonry bestowing protection and favours to its supporters while subtly excluding or co-opting its opponents.

The Economist: Nepal: Article looks at the political troubles of Nepal, arguing that ten years after the country adopted multi-party politics, it is clear that neither peace nor good government has come to the country. Nine months after a successful election, the government has shown little progress in tackling corruption, poverty and rural inequality. Senegal: Article looks at the forthcoming presidential election on February 27^th, where all the opposition candidates believe that the government will use fraud to re-elect President Abdou Diouf. Senegal is usually seen as a peaceful, orderly country with a fast growing economy. However, beneath this calm exterior is an unhappiness that could explode in riots and looting if the elections are not carried out fairly.

Thursday 24th February 2000

Independent: Mozambique: Full page coverage of the disaster under the headline “Until this week, it was Africa's most successful self-help economy. Now it's all been swept away.” Cyclone damage and heavy flooding have left 300,000 homeless and threaten outbreaks of malaria and cholera. A second intense tropical storm, Felicia, is feared within days. Self-reliance and economic growth have been destroyed and Save The Children's director for Mozambique suggests a two and a half year recovery period. Oxfam have called for “massive and immediate” debt relief. Drugs: Developing nations are being starved of morphine supplies. Millions are dying of cancer-related pain due to lack of morphine. By 2015 two-thirds of the estimated 16 million new cancer patients will be in African countries.

International Herald Tribune: China/Taiwan: Front page article reporting that the People's Liberation Army have praised another Chinese warning to Taiwan. New tension is likely to benefit the Chinese armed forces. Washington has warned Beijing to withdraw threats of force against Taiwan or face a possible setback on trade relations with “incalculable consequences.” China appears to have ignored U.S. advice for restraint in the run up to Taiwanese presidential elections next month. IMF: Nominations to succeed Michel Camdessus as head of the organisation now include Stanley Fischer, an American economist and Eisuke Sakakibara, a former high-ranking Japanese finance official. The EU is expected to nominate Caio Koch-Weser, the deputy finance minister of Germany. The managing director's job has traditionally gone to a European. Mozambique: The World Health Organisation warns that 800,000 are at risk from epidemics.

FT: World Bank/IMF: A special US congressional commission is expected next month to recommend a radical reduction in the roles of the IMF & World Bank. Proposals may include an IMF focus on short-term finance to resolve crises in emerging economies and a shift in World Bank policy towards providing grants rather than loans to poorer countries. Tentative recommendations suggest that the IMF may pull out of Africa and the World Bank would cease financing countries with an annual income per head of more than $2500. Coffee: The Association of Coffee Producing Countries is considering the adoption of a retention scheme to combat falling prices. The scheme, which involves holding back supplies from the world market, could start in April or May. Support from members and non-members of ACPC would be required to make it work. Drugs: Latin American cocaine trafficking to Europe & North America “continues unabated” according to a UN backed report.

Guardian: Mozambique: President Chissano and the UN say that £8 million is needed for emergency food and medical supplies & for basic shelters. Government officials state that a further £22 million will be required to rebuild the infrastructure.

Zimbabwe: Robert Mugabe has hinted he will not run for re-election after the defeat of his constitutional referendum last week.

Wall Street Journal: IMF: A group of African countries, backed by other developing nations, have nominated African-born American economist Stanley Fischer to head the IMF. This reflects the developing countries' frustration with the international financial system.

Wednesday 23rd February 2000

The Times: Zimbabwe: President Mugabe of Zimbabwe is to end his authoritarian 20-year regime, according to government sources. After a rebellion by the central committee of the ruling Zanu (PF) party, Mr Mugabe has said he will not stand again for the presidency of the party leadership. The moves follow Mr Mugabe's humiliation at a six hour meeting of the 180-member central committee last Friday.

FT: Mozambique: Picture of Mozambique's flooded Gaza province. The southern Africa country, already hit by the heaviest floods in half a century, faced another onslaught last night as Cyclone Eline ripped roofs off houses and cut water and power supplies. Eline moved inland between Inhambane, 300m north of the capital Maputo and Beira, the second largest city. The floods have killed 50 and left 800 000 homeless. Nigeria: President Olusegun Obasanjo of Nigeria appealed for calm yesterday as police and army units struggled to restore order in the northern city of Kaduna where dozens have died in clashes between Muslims and Christians. The fighting was triggered by calls for the introduction of Sharia—Islamic law—adopted last month in the neighbouring state of Zamfara. Albania: Four page survey of Albania, which says that the upheavals of riots and refugees have taken a heavy toll, but signs are that the country is now back to business.

Independent: Mozambique: Coverage of the floods in Mozambique under the headline “Mozambique's dream washed away in the floods.” The UK has donated more than £500 000 and sent a disaster management team to work with the government and aid agencies.

Wall Street Journal (yesterday's paper): IMF: Leader severely critical of the IMF for its complacent lending to Russia and Ukraine and policy toward East Asia. “Since the collapse 30 years ago of the Bretton Woods accords that had established the IMF, the organisation has been searching for a mission. And in the 1990s it seems to have found it: bailing out investors who'd invested unwisely in financially unsound developing countries, and dispensing advice on macroeconomic issues, particularly currency valuations. On both scores, however, the institution has not done well by the world. First, it created a condition of moral hazard that abetted imprudent investment; second it encouraged competitive devaluations that had ruinous international effects.”

Tuesday 22nd February 2000

The Times: Mozambique: Up to 300 000 people in the provinces of Maputo, Gaza and Inhambane have been forced to leave their homes following the torrential rains and flooding in the area. Cyclone Eline blew in from the Indian Ocean after causing many deaths and extensive damage on the island of Madagascar over the weekend. Joaquim Chissano, the Mozambican President, made a second appeal yesterday for international assistance. The head of the UN Disaster Assessment team said: “We are talking at this stage of basic survival needs. Then we are looking at what is the biggest fear, the outbreak of health epidemics.” Times leader says that thousands of hectares of rich agricultural land are buried beneath spreading lakes whose mirrored surfaces reflect only the promise of more rain to come. The leader says that the developed world, which has applauded Mozambique's new democracy so highly, must now reward it by responding with all generosity to Mozambique's urgent appeal for aid issued yesterday.

Business Week: Latin America: Latin America led developing regions last year with inflows of foreign direct investment (FDI). FDI rose in Argentina to $25 billion, Brazil to $31 billion. Privatisation of state enterprises has sparked a wave of merger and acquisition activity by foreign investors.

IHT: Burundi: African presidents and European ministers joined Nelson Mandela in Tanzania on Monday in an appeal to Burundi's leaders to negotiate a speedy end to the country's long civil war. Mr Mandela was joined by his successor, Thabo Mbeki, and the presidents of Uganda, Tanzania, Rwanda, Mozambique and Burundi at a meeting to start the talks. Nigeria: Clashes between Christians and Muslims about plans to introduce Islamic sharia law left at least 20 people dead and dozens of buildings and shops burning in the Nigerian city of Kaduna yesterday. Mozambique: A cyclone designated Eline edged its way toward the Mozambican coast on Monday, driving heavy rains ahead of it to an area already devastated by the worst floods in 30 years.

The Voice: Cuba: Cuba will host the first summit of developing countries this millennium in April. The conference aims to promote the economic and technological development of such countries.

FT: Cambodia: The Cambodian government yesterday unveiled a three-year, $1.4 billion plan to develop the war-shattered country and urged the international community to donate $536 million as well. The plan—designed to boost economic growth and reduce soaring poverty rates—calls for a significant shift in government-run development work to rural areas, where 85 per cent of the population live. IMF: Journalist Michael Prowse says that the IMF should end its fixation with the public sector and appoint a managing director with first-hand experience of the markets. He says that a department of academic economists are unable to handle the likes of George Soros. First hand knowledge of the markets significantly improved the credibility in office of Alan Greenspan and Robert Rubin.