Fire Earth

Earth is fighting to stay alive. Mass dieoffs, triggered by anthropogenic assault and fallout of planetary defense systems offsetting the impact, could begin anytime!

Posts Tagged ‘IMF’

Debt Destroying Dozens of Economies

Posted by feww on August 8, 2015

Total net debts owed by debtor nations rises by 30% since 2011—Report

International debt increased from $11.3 trillion in 2011 to $13.8 trillion in 2014, and it’s predicted that it will reach $14.7 trillion in 2015, resulting in an increase of $3.4 trillion (30%) in four years, according to a report published by Jubilee Debt Campaign.

The countries most at risk:

24 Countries already in debt crisis

  • Significant net debt (more than 30% of GDP), and
  • High current government external debt payments (more than 15% of government revenue).

There are 22 countries which currently have high government debt payments leading to large amounts of money leaving their country each year, along with an overall net debt with the rest of the world:

Armenia, Belize, Costa Rica, Croatia, Cyprus,  Dominican  Republic, El Salvador, Gambia, Greece, Grenada, Ireland,  Jamaica, Lebanon, Macedonia, Marshall Islands, Montenegro, Portugal, Spain, Sri Lanka, St Vincent and the Grenadines, Tunisia and Ukraine.  Also, two countries are in default or debt negotiation: Sudan and Zimbabwe.

Sudan and Zimbabwe do not have high government debt payments because they are both in default on much of their debt. Their overall debt is unpayable. Both are currently trying to enter debt relief initiatives, but have not been accepted yet by Western creditor countries.

14 Countries at high risk of government external debt crisis

  • Significant net debt (more than 30% of GDP)
  • High future government external debt payments (projected to exceed 15% of government revenue–or, where projections are not available, current government external debt already over 50% of GDP)
  • Significant current account deficit (more than 5% of GDP).

We estimate that 14 countries are rapidly heading towards new government debt crises, based on their large external debts, large and persistent current account deficits, and high projected future government debt payments (or, where predictions do not exist, large current government debt).

Bhutan, Cabo Verde, Dominica, Ethiopia, Ghana, Lao PDR, Mauritania, Mongolia, Mozambique, Samoa, Sao Tome and Principe, Senegal, Tanzania and Uganda.

29 Countries at risk of government external debt crisis

  • Significant net debt (more than 30% of GDP), or significant current account deficit (more than 5% of GDP), and
  • Significant future government debt payments (projected to exceed 10% of government revenue– or, where projections are not available, current government external debt already over 40% of GDP).

These countries have significant imbalances with the rest of the world, either through high net debt or high and persistent current account deficits, as well as significant projected future government debt payments.  For some, it may be that the private sector is an even larger source of risk than government debt:

Burkina Faso, Cambodia, Cameroon, Central African Republic, Chad, Cote d’Ivoire, Djibouti, Guyana, Haiti, Hungary, Italy, Kyrgyz Republic, Latvia, Lesotho, Liberia, Lithuania, Madagascar, Maldives, Mali, Niger, Poland, Rwanda, Serbia, Sierra Leone, Slovak Republic, St Lucia, Togo, Tonga and Zambia.

28 Countries at risk of private-sector debt crisis

  • Significant net debt (over 30 % of GDP), and
  • Significant current account deficit (over 5% of GDP).

Debt owed by the private sector, rather than a government, can precipitate debt crises. This can happen either when lending that an economy has become dependent on suddenly falls, when repayment burdens on private sector debt remove significant resources from the country, and/or when the private sector crashes and has to be bailed out by the government. Those countries are:

Albania, Australia, Belarus, Benin, Bosnia, Brazil, Burundi, Colombia, Fiji, Georgia, Guinea, Honduras, Indonesia, Jordan, Malawi, Moldova, Morocco, New Zealand, Nicaragua, Panama, Papua New Guinea, Peru, Seychelles, Solomon Islands, Tajikistan, Turkey, United Kingdom and Vanuatu.

Full report posted at: “The new debt trap: How the response to the last global financial crisis has laid the ground for the next”

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Half Million Protest Austerity Measures across Portugal

Posted by feww on March 3, 2013

“Austerity kills:  Screw the troika!”

Half million Portuguese rallied in Lisbon and other cities on Saturday demanding an end to austerity measures dictated by the so-called troika of lenders from the European Commission, European Central Bank and International Monetary Fund.

“We are in a new dictatorship. Everything that the revolution achieved is being destroyed,” an elderly protester in Lisbon told reporters.

“This government has left the people on bread and water, selling off state assets for peanuts to pay back debts that were contracted by corrupt politicians to benefit bankers,” said another protester.

“If not today, things have to change tomorrow and we need to remain in the streets for the government to fall.”

Other Global Disasters/ Significant Events

Critical fire weather across 4 states

NWS Forecast: A storm system moving into central United States Monday will create breezy and dry south winds over south central Texas Sunday, and windy and dry conditions behind a cold front Monday night into Tuesday. Driest conditions are expected along the Rio Grande and over the southern Edwards Plateau, where minimum relative humidities could fall to near 10 percent today.
Humidities east of I-35 today are expected to remain in the 20s and 30s. Strong north winds of 20 to 30 mph and minimum relative humidities in the teens are expected behind the cold front that is expected to move through the area early Tuesday morning.

US weather hazmap 3mar13
US weather hazards map – March 3, 2013. Source: NWS

Blizzards paralyze N. Japan killing at least 8

At least 8 people died in snow-related accidents in Hokkaido over the weekend, as twice as much snow as usual fell over the region.  The latest snowfall added more than two meters of snow to accumulations that are already several meters high  in some places, Kyodo News reported. Many houses have been completely buried in snow.

Ethnic clashes in Macedonia leave dozens injured

Two days of clashes between ethnic groups and Macedonian police in the capital, Skopje, has left about 2 dozen people injured, said a report.

Chinese village under lockdown following violent clashes, reform demands

Villagers in southern China’s Shangpu are under a lockdown after a standoff with authorities on Sunday. They “were demanding democratic polls after a violent clash with thugs linked to a local official over a land transfer,” said a report.

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March 3, 2013 – DISASTER CALENDAR SYMBOLIC COUNTDOWN: 1,105 Days Left 

Mass die-offs resulting from human impact and the planetary response to the anthropogenic assault could occur by early 2016.

  • SYMBOLIC COUNTDOWN: 1,105 Days Left to ‘Worst Day’ in the brief Human  History
  • The countdown began on May 15, 2011 …

GLOBAL WARNINGS

Global Disasters: Links, Forecasts and Background

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UN planning to feed the world?

Posted by feww on May 1, 2008

UN to draw up comprehensive plan to address world food crisis

30 April 2008 – UN News Center– The United Nations is aiming to have a comprehensive plan to tackle the global food crisis in place by the beginning of June, “around which the institutions and leaders around the world can coalesce,” Under-Secretary-General for Humanitarian Affairs John Holmes said today.

Mr. Holmes is one of two coordinators, along with UN System Influenza Coordinator David Nabarro, of a new high-powered task force that was announced yesterday by Secretary-General Ban Ki-moon to organize responses to the global rise in food prices.

Speaking at a news conference today in Geneva, Mr. Holmes said that although the breadth and complexity of the issue needed to be recognized, there was no need to panic. “I think it is clear we can fix these problems. The solutions can be found; the solutions are there. They are very difficult, some of them, in the short term, but they can be done.”


The United Nations Office [Palace?] at Geneva (UNOG) is the representative office of the United Nations in Geneva. More than 1,600 super-privileged front-row individuals handsomely “earn their keep” here!

On the role of biofuel production in the current crisis, Mr. Holmes said: “It is something that needs a new look in present circumstances without wanting to fall in any sense into knee-jerk reactions of saying all biofuels are bad or good. We need to look at it in a careful, sophisticated and differentiated way, between different regions of the world and between different products.”

The Under-Secretary-General also said the crisis was not affecting every country in the same way. “For many countries and population groups it is inconvenient, a problem for their daily budget and their purses, but it is not a matter of life and death. In some places and for some groups, particularly those living on less than a dollar a day, that quickly could become a matter of life and death, or certainly of increased suffering and malnutrition.”

The UN’s action plan is to be in place in time for a meeting of UN agencies in Rome at the beginning of June. The task force is chaired by Mr. Ban and consists of the heads of the World Bank, the International Monetary Fund (IMF), the World Food Programme (WFP), the Food and Agriculture Organization (FAO), the International Fund for Agricultural Development (IFAD), the World Trade Organization (WTO), and other organizations which will be invited to join.

News Tracker: past stories on this issue

Can the world’s poor sue Ban ki-moon, John Holmes and the rest of their lot if they don’t deliver?

Posted in Climate Change, environment, food, food riots, food shortages, Global Warming, health, malnourished, politics, poor | Tagged: , , , , , , , , , | Leave a Comment »