» 07/11/2012, 00.00
INDONESIA - FMI
Indonesia provides a mega loan of one billion dollars to save the EU
The decision is the result of binding agreements between Jakarta and the International Monetary Fund signed during the G-20. For the opposition the maneuver will afflict the population even more. The country already has a deficit of 36 billion dollars. In a meeting with the Indonesian President, Christine Lagarde warns that no country is immune from the crisis of the euro.
The protests are forcing the government to reduce the price of gasoline
The 33% increase would have taken effect tomorrow. Yesterday, more than 15,000 people blocked the center of Jakarta, clashing with police. Dozens of injured officers and shops that have been attacked. Even parliament is rejecting the increases.
Indonesia rediscovers microbusiness as solution to unemployment
Exports are collapsing (-36% in January), and unemployment is on the rise from already high levels. With no better prospects, the unemployed are reinventing small businesses, like food carts. The government is financing projects to foster microbusiness. These also include handmade cigarettes.
Chinese import-export drops. Doubts about recovery
Exports grew by 4.9, but forecast increase was 8.5. Imports grew by only 0.3 compared to 5.3 in March and 11% forecast. Domestic demand in sharp decline. At the Canton Fair orders down by 2.3% compared to last year.
China increases its gold reserves
Experts maintain that Beijing wants to increase its gold reserves to 5,000 tons, to protect itself from the global crisis and the possible devaluation of the dollar. It now has about 31 billion dollars worth of gold, but foreign currency reserves of 1.95 trillion.
Philippines, faith and family to overcome economic crisis and unemployment
The churches of the country are crowded with faithful. They are praying for a job, for a successful interview, to pass an exam at the university. Recent estimates show 300,000 unemployed in the first six months of 2009.
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