25 April, 2014 AsiaNews.it Twitter AsiaNews.it Facebook            

Help AsiaNews | About us | P.I.M.E. | | RssNewsletter





mediazioni e arbitrati, risoluzione alternativa delle controversie e servizi di mediazione e arbitrato
e-mail this to a friend printable version


» 06/19/2012 11:11
ASIA - EU - MEXICO
G20: India promises $10 billion to save Europe
The Brics (Brazil, Russia, India, China and South Africa) have announced contributions totaling $75 billion, to participate in the establishment of the $430 billion "firewall" wanted by the International Monetary Fund (IMF). New Delhi hopes to contain the fallout from the European crisis on its economy, while 360 ​​million Indians (out of 1.2 billion people) still live on $1 a day.

Los Cabos (AsiaNews/Agencies) - India has pledged $10 billion to the International Monetary Fund (IMF) to help eurozone countries overcome the current crisis, and try to prevent possible effects on emerging economies (the Brics: Brazil, Russia, India, China, South Africa). This was announced today by the Prime Minister Manmohan Singh at the G20 in Mexico, in progress during these days. The Indian contribution to the sum of the other Brics, who together would participate with a total of $75 billion to the $430 billion "firewall" that the IMF would create to counter new financial crises. For now, Russia has pledged $10 billion, while China has pledged $43 billion.

With this contribution, the Brics are hoping to avoid any negative impact on their economies, already tested in the last period. This year India has recorded the lowest growth rate in the last 10 years, closing the 2011-2012 year at 6%, compared with 8.4% in 2010-2011. Recently, the Prime Minister announced investments of $1 million for new infrastructure (including highways, ports and airports), hoping to revive the country's economy and regain support among the population.

However, the reforms in question relate largely to the sector of industries and large enterprises - 14% of the workforce - the protagonists in the last 15 years of liberalization promoted by the Indian government. Liberalization which, on the contrary, limit the productivity of self-employed workers (craftsmen, small entrepreneurs) and farmers, increasingly relegated to the margins. These sectors together account for over 90% of the workforce in India.

Meanwhile, while the Indian government promises economic aid to rescue the euro, according to a survey by the Planning Commission, from 2004/2005 to 2009/2010, the level of poverty in India declined from 37.2% to 29.8%. This means that in the country, about 360 million people still live below the poverty line (about $1 per day), of a total population of 1.2 billion. During the period under review, rural poverty has declined more rapidly than urban poverty.

 

 

 


e-mail this to a friend printable version

See also
04/14/2011 CHINA – INDIA – BRICS
BRICS challenging Western economic and political governance over the world
07/10/2007 TURKMENISTAN
Personality cult persists despite change in president
03/25/2013 CHINA - BRICS
Emerging countries thinking about a joint bank against West
02/22/2005 RUSSIA
Will Gray whales stop drilling for oil and gas ?
by Maurizio d'Orlando
11/17/2009 INDIA
Orissa: European delegation meets victims of anti-Christian pogrom

Editor's choices
ITALY - ASIA
Easter, victory over death and impotence
by Bernardo Cervellera
SYRIA
I will miss you Fr Frans, you inspired us all, says Syrian Jesuit
by Tony Homsy*A young priest from the Society of Jesus remembers the life and work of Fr Frans van der Lugt, who was killed in Homs after he refused to abandon residents beleaguered by hunger and war. "He gave and continues to give everything for the Church, Syria, and peace. His story and qualities made him an exceptional missionary and witness to the Gospel." Reprinted courtesy of 'The Jesuit Post'.
FRANCE - IRAQ
Chaldean Patriarch on the uncertain future of eastern Christians, a bridge between the West and Islam
by Mar Louis Raphael I SakoThe wars in Iraq, Libya and Afghanistan have made things worse for their peoples, especially minorities. As Western policies have been a failure, fundamentalism has grown with the Arab Spring losing out to extremism. Muslim authorities have a role in protecting rights and religious freedom. The presence of Christians in the Middle East is crucial for Muslims.

Dossier
by Giulio Aleni / (a cura di) Gianni Criveller
pp. 176
by Lazzarotto Angelo S.
pp. 528
by Bernardo Cervellera
pp. 240
Copyright © 2003 AsiaNews C.F. 00889190153 All rights reserved. Content on this site is made available for personal, non-commercial use only. You may not reproduce, republish, sell or otherwise distribute the content or any modified or altered versions of it without the express written permission of the editor. Photos on AsiaNews.it are largely taken from the internet and thus considered to be in the public domain. Anyone contrary to their publication need only contact the editorial office which will immediately proceed to remove the photos.