29 November, 2015 AsiaNews.it Twitter AsiaNews.it Facebook            

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

mediazioni e arbitrati, risoluzione alternativa delle controversie e servizi di mediazione e arbitrato

e-mail this to a friend printable version

» 06/19/2012
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
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
Paris Massacre highlights the failure of Muslim integration in Europe
by Catherine FieldThe attack in the heart of France highlights the crisis of Europe’s model of coexistence. Social unrest, poverty and marginalisation feed youth extremism and radicalisation. A New Zealander journalist, expert on expertise in religion and interfaith dialogue, talks about it after undertaking a journey through the French Muslim world.
For Nîmes imam, Islam should not be held hostage by extremists
by Hochine DrouicheFrench imams condemn the Paris terrorist attacks and disassociate themselves from violence committed in "the name of our religion." At the same time, they ask Muslim communities to dare leading a life of dialogue and friendship with Europeans, without fear or arrogance. For centuries, Muslims have ruled out reason from their religious life. The vice president of French imams bears witness.
AsiaNews marks 12 years: Persecution and hope
by Bernardo CervelleraDespite a worldwide increase of ignorance, indifference and superficiality, many signs of love and hope resist even in the most gloomy situations: the Iraqi mother who gives birth to her child in a refugee camp and smiles even though she has nothing; the Indonesian Muslim mother who blesses her son who became a Christian and a priest; the Chinese Christian families that welcome children thrown away because of the one-child law.


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.