Word: downturns
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...Congo and Somalia. But in other parts of the continent - Ghana, Rwanda, Tanzania and much of southern Africa - a new generation of African leaders has embraced democracy and the rule of law, and is making clear a preference for business and self-reliance over aid. Despite the global downturn, the International Monetary Fund predicts sub-Saharan Africa will grow by an average of 1.5% this year. Seven African countries will grow by 5% or more, with Liberia expecting 4.9% growth in 2009 and 7.5% next year. While the G-8 leaders discuss how to help, some parts of Africa...
...talk about the profits that can be made flipping real estate properties. Did you take losses in the market downturn of the past few years? Kenny Smith, BOSTON...
...that the "downturn forced Labour to dump its tarnished rule" and splurge on public spending is generous, to say the least [June 22]. Gordon Brown spent his years as Chancellor spending beyond his means - even as the country seemed to prosper - and desperately breaking Labour's manifesto promise not to raise tax rates to cover his tracks. The severity of Britain's current recession can surely be partly blamed on years of recklessness and a failure to prepare for the slightest possibility of less sunny days to come. The "golden rule" was a cipher from the beginning of the Labour...
...some places, the crisis has actually helped stimulate business. Ukraine's currency, the hryvnia, has lost about 35% of its value against the dollar and euro since the start of the downturn, a change that experts say is likely to boost the country's growing tourism sector and thereby the number of visitors willing to pay for a thrill. "The country is becoming a paradise for sex tourism before our eyes," says Yuri Lutsenko, Ukraine's interior minister, who worries about the trend. Police experts forecast that Ukraine's sex industry will more than double its revenues this year, generating...
...which grabbed 22 seats, gives it a tacit congressional majority that promises to "paralyze" Calderon's presidency if not "mark the end of his term," says syndicated political columnist Martha Anaya. A political hobbling of Calderon could hamper Washington's efforts to help the Mexican administration tackle an economic downturn and relentless drug violence, which have raised fears about the stability of one of the U.S.'s most important trading partners. (See pictures of Mexico's drug war in Culiacan...