China: 840 billion dollars in Foreign Trade

Exchange volume reached 840 billion dollars in Chine this year, according to the China Daily. Exports were 430 billion, while imports reached 410 billion dollars. It stated that Chinese Vice-President Wu Yi affirmed that foreign Trade registered huge and rapid unexpected growth, against 620 billion I 2002. The influx of direct foreign investment will equalize /last year’s level of 52.7 billion dollars, the newspaper stated. Direct foreign investment rose to 47.2 billion dollars during the first eleven months in China, a growth of 0.2% during the same period last year.

Germany :  300 mesures of humanitarian aide in 2003

In  2003, the Federal Minister of foreign affairs financed 307 humanitarian aid projects, and natural catastrophe prevention around the world, for a total volume of 71.5 million Euro. The funds for humanitarian which followed, supported 237 projects for the amount of 52.5 million Euro, which allowed support to victims of natural catastrophe and armed conflicts, with the essentials such as water, food and medication, This year the majority of funds were destined for Africa with 16.6 million Euro.  Over 97 humanitarian aid projects, principally in the Great Lakes region, in West Africa and elsewhere.

AGOA : The prolongations

The Maurician Minister of Industry and Commerce Mr. Jayen Cuttaree, and US Secretary of State Colin Powell, presided at the 3^rd AGOA Forum, held at the State Department in Washington. At the opening ceremony Mr. Powell underlined the President Bush’s views, on how the law on sustainable growth and economic possibilities in Africa (AGOA), constituted one of the pillars of US strategy in developing the continent, and should be prolonged well into 2008. President Bush considers that the law on growth and economic possibilities in Africa constitute an essential element of the efforts geared at facing the challenges of the African sub-Saharan market, Mr. Powell said.

INTERNATIONAL MONITARY FUND RATIFIES, PRLONGATION OF THE ACCORD WITH BRAZIL

It was announced that the prolongation of an accord passed in September 2002  with Brazil, was ratified by   IMF management    Brazil, had negotiated under pressure, for a loan of 30billion dollars, and had chosen to postpone this accord until 2004 for fifteen months equally. The internation rganization also approved the raising of the ammount of the loan to 6.6 billion dollars, precisely according to the terms of the accord. Brazil could immediately dispose of 8.2 billion dollars, but said that it couldn’t take advantage of this possibility.

The economic policies of the President Lula’s government , established a year ago, reassures the international Organizations. President  Luiz Inacio Lula da Silva, was instrumental in voting in important reforms namely, retirement, social security etc. During the first nine months of the year, there was an excess in the country’s budget, overlapping by 5% of the GNP, this, combined with the policy to fight inflation, has also helped reassure the financial market, that there are finally concrete signs for a revamp of this stagnant economy.