As the second half of 2009 begins, global stock markets have rebounded. But unemployment remains a huge problem, from Spain to Japan. Roben Farzad of BusinessWeek discusses where the economy stands around the world.
All Posts Tagged With: "financial crisis"
Unemployment rates in the U.S. and Canada are approaching double digits, but these figures pale to those in Liberia, where the official unemployment rate stands at 85 percent. A Worldfocus contributing blogger in Monrovia describes how Liberians get by, even if they are not formally employed.
Some in the U.S. Congress wanted to tie funding for the International Monetary Fund to specific changes in how the IMF conducts its business. Worldfocus blogger Nina Hachigian agrees, but says this could slow the process down too much at a time of unprecendented crisis.
Increasing unemployment and poverty are making people more vulnerable to human traffickers, according to the State Department's annual report on human trafficking released Tuesday. E. Benjamin Skinner of the Carr Center for Human Rights Policy discusses modern slavery.
After bailing out countries from Iceland to Pakistan, the International Monetary Fund needs additional funds that it can loan to other nations on the brink. Worldfocus blogger Nina Hachigian gives five reasons the United States should agree to fund the IMF, despite the naysayers.
World leaders gathered in Cape Town, South Africa, on Wednesday for the 19th annual World Economic Forum on Africa. Mojubaolu Okome of Brooklyn College discusses the forum and how the global economic crisis has impacted African countries.
Unemployment in Russia has soard to 10.2 percent, a nine-year high. Blogger Oksana Zagrebnyeva shares her personal account of life in an industrial Russian town hard-hit by the economic slowdown.
From the $787 billion stimulus package in the U.S. to China's $586 billion, world governments are hoping that they can lay the groundwork for economic recovery. Read what bloggers from Bahrain to Japan are going through in the global financial crisis.
As the recession continues, Germany's economy -- Europe's largest -- is contracting rapidly. France announced Wednesday that it has slipped into recession. Marcus Mabry of The New York Times discusses the deepening economic downturn and what may be in store for Europe.
The Latin American economy is expected to contract this year as countries face losses from declining exports, tourism and remittances. But while some world leaders have become political casualties of the economic crisis, blogger Thiago de Aragão writes that in most Latin American countries, people seem to sift apart economic and political issues.