Despite high levels of foreign investment, many of Africa's poorest nations fail to benefit from increased global business.
Foreign investment rose 78 percent from the previous year, but the benefits were unevenly spread among the nations of Africa.
South Africa, Egypt, Nigeria and Tunisia received the majority of foreign funding, which left many of the poorest countries with a drastic decline in investment (Angela Balakrishnan, "Foreign Investment Failing Africa," The Guardian, Oct. 17, 2006).
Because of human greed and misrule, there are no easy answers for some of the world's poorest nations. It leads us to pray to God, "Your kingdom come" (Matthew 6:10Thy kingdom come. Thy will be done in earth, as it is in heaven.
See All...).
After three years of wrangling, European Union finance ministers have agreed on how to interpret a key sentence in the "Pact on Stability and Growth" which outlines the requirements for membership in the EU monetary union, the euro. The "Pact on Stability and Growth" stipulates that membership in the "euro zone" is open only to EU countries whose annual national budget does not include deficit spending greater than 3 percent of the country's gross domestic product. In addition, total national debt is not allowed to exceed 60 percent of gross domestic product.
Nobody has commented yet. Be the first to kick off the discussion!