While the COVID-19 pandemic has yet to come under control, many countries around the world have taken steps to economic recovery. African nations in particular, although prone to severe economic impacts, have shown significant progress in their COVID-19 response. According to the World Bank’s October 2020 Africa’s Pulse issue, GDP growth projections in all regions of Africa are positive for 2021 and 2022 following GDP growth decrease in 2020. This article highlights three countries that are demonstrating optimistic economic growth after COVID-19.
Rwanda
COVID-19 Response Measures: Rwanda has received recognition for its efforts to contain initial outbreaks. This is likely due to the country’s aggressive measures combining public health mandates and innovative utilization of technologies. What separates Rwanda’s response is its reliance on scientific guidance and a high-tech approach to health and social service policies. For example, treatment centers are using human-sized robots for temperature checks and supply deliveries. National enforcement also deployed drones to monitor and ensure compliance with lockdown measures.
Fiscal Policy: The December 2020 update on fiscal policy in Rwanda includes $314 million in economic stimulus, corporate tax exemptions and subsidies, cash transfers to citizens (unemployment benefits) and food assistance. Rwanda’s financial capacity proved beyond national resources but international support was able to expand it. UNDP Rwanda and the World Bank are currently working closely with the Rwanda Ministry of Finance to discern how much the COVID-19 response plan will need for operation.
Monetary Policy: The National Bank of Rwanda reduced the policy interest rate to 4.5%. It has further plans to establish liquidity and digital payment support measures. In Africa’s Pulse, the World Bank classifies Rwanda as the only country established in the Growth Taxonomy in sub-Saharan Africa. The taxonomy compares pre-pandemic performance to mid-pandemic growth. Expectations have determined that Rwanda will achieve the highest post-pandemic recovery with a GDP growth of 7%. With economic drivers like vaccine campaigns and investment and trade boosts, countries like Rwanda and Tanzania expect GDP increases. East Africa in general is expected to reach 5.1% GDP growth as opposed to the continental average at 3.2%.
Kenya
COVID-19 Response Measures: Kenya adopted many of the common direct response measures, such as a widespread lockdown. Additionally, the U.N. praised Kenya’s maintenance of well-equipped emergency treatment hospitals to best accommodate not only Kenyan patients but also U.N. personnel and partners. Kenya’s hospitals can also potentially play an important role in regional humanitarian development.
Fiscal Policy: Kenya announced a $534 million economic stimulus, a $377 million COVID-19 health expenditure, corporate tax exemptions and subsidies, cash transfers to citizens and food assistance. Like other African countries, Kenya is receiving financial assistance from major international entities such as the World Bank and the E.U. With 86 different donors, Kenya received Ksh 194,663,072,350 ($177,3769,915.25) for COVID-19 response plans.
Monetary Policy: The Central Bank of Kenya reduced the policy interest rate to 7% and planned liquidity support measures. Additionally, the government launched the National Hygiene Program (Kazi Mtaani) to reduce pandemic-induced unemployment. It offers employment with daily wages to the hardest-hit communities. Jobs include street cleaning, garbage collection and disinfection. Kenya’s trade activities also indicate promising economic recovery. According to the World Bank’s Africa’s Pulse, Kenyan exports have already recovered rapidly and have surpassed pre-pandemic highs.
Senegal
COVID-19 Response Measures: The World Bank highlighted Senegal as demonstrating a successful health response to COVID-19. Swift responses were key, particularly in regards to test capacity, quarantine facilities and ventilators. Preventative measures also included temperature checks and hand sanitizer distribution. By September 2020, 80% of confirmed cases had recovered.
Fiscal Policy: Senegal has an $801 million economic stimulus, a $130 million COVID-19 health expenditure, corporate tax exemptions and subsidies, cash transfers to citizens and food assistance. Some participating entities for Senegal’s financing include the African Development Bank Group (AfDB), the International Monetary Fund (IMF) and the World Bank. For instance, AfDB contributed €88 million to support Senegal’s measures to provide relief to vulnerable households, businesses and job security initiatives.
Monetary Policy: Senegal’s monetary policy is in collaboration with other West African countries, including Benin, Guinea-Bissau, Mali, Niger and Togo. These countries work with the Central Bank of West African States (BCEAO), which has made FCFA 4.750 billion ($8,383,750) available to banks and has reduced policy interest rates to 4%. In Africa’s Pulse Growth Taxonomy, Senegal is one of five countries in the top tercile of growth performers. It has a classification of “improved.” Improved GDP growth can indicate the first signs of economic recovery.
The Road to Recovery
As a result of early preventative policy measures, fiscal and monetary policies, international financing and trade initiatives, many African countries have paved a road to post-pandemic recovery. Rwanda, Kenya and Senegal are merely three of the African countries benefiting from smart policy measures and quick COVID-19 responses. In many cases, these countries are experiencing even higher levels of growth than they did before the pandemic. The steps that these countries and others took can serve as a model for how to navigate the economic hurdles of a global pandemic.
– Malala Raharisoa Lin
Photo: Flickr
Novissi GiveDirectly Alleviates Poverty in Togo
The Initial Novissi Program
“Novissi” translates to “solidarity” in one of the local languages of Ewe. The initial Novissi program already distributed $22 million via mobile money payments to 600,000 citizens who live in urban areas. Voting registration provided the state with information about a citizen’s financial status and the state used this information to determine eligibility. Then, payment was sent via mobile devices. However, this same methodology could not be applied to the many Togolese who live outside the cities and identify as informal workers. The government wanted to target people in rural areas living on less than $1.25 per day without the means to put themselves on the government’s radar. Presented with this challenge, a second phase of the program emerged: Novissi GiveDirectly.
Novissi GiveDirectly
In Togo, Novissi GiveDirectly utilizes satellite imagery, mobile data and artificial intelligence as a poverty solution. Satellites capture photos from every square kilometer of the country, giving insight into villages’ local infrastructure, the housing materials used and even the size of land plots.
Mobile data also provides researchers with a major clue in the search for those carrying the biggest financial burdens. In general, impoverished people use cellphones less often, receive more calls than they make and have lower mobile money balances. Artificial intelligence then analyzes the mountains of data to identify who is eligible to receive aid from the program by estimating an individual’s wealth. Registration is as simple as a Togolese citizen dialing #855 to register for the program.
The Impact on Locals
Eric Dossekpli is a 49-year-old farmer whose livelihood has experienced a direct impact from COVID-19. His market goods were not selling because people were not buying due to the financial distress of the pandemic. This left him without an income and unable to afford fertilizer to continue growing crops.
When Dossekpli heard about Novissi GiveDirectly, he immediately registered. Once Novissi GiveDirectly confirmed his eligibility, he received an instant mobile payment of $13. Novissi GiveDirectly gives $13 to men and $15 to women every month for five months. Women receive more money due to their roles as caregivers. The money received meant he could pay for his children’s tuition and afford food. “I can’t imagine how I was going to live if not for this money. All I can say is thanks,” said Dossekpli.
The Road Ahead
What makes the program unique is that it operates using data that is already available. This makes it quick and comprehensive, two characteristics that are critical during a crisis. The program aims to distribute $10 million to 114,000 Togolese people over a period of a few months. The Novissi GiveDirectly model is currently being considered for Nigeria and Bangladesh.
Though Novissi GiveDirectly has emerged in response to a crisis, one cannot help but consider the potential benefits of such targeted investments long-term. If $13 can pay for the education of four Togolese children during a global pandemic, a sustained investment of this nature could boost an entire economy, allowing everybody to reap the rewards.
– Greg Fortier
Photo: Flickr
COVID-19 Response: Africa’s Road to Recovery
While the COVID-19 pandemic has yet to come under control, many countries around the world have taken steps to economic recovery. African nations in particular, although prone to severe economic impacts, have shown significant progress in their COVID-19 response. According to the World Bank’s October 2020 Africa’s Pulse issue, GDP growth projections in all regions of Africa are positive for 2021 and 2022 following GDP growth decrease in 2020. This article highlights three countries that are demonstrating optimistic economic growth after COVID-19.
Rwanda
COVID-19 Response Measures: Rwanda has received recognition for its efforts to contain initial outbreaks. This is likely due to the country’s aggressive measures combining public health mandates and innovative utilization of technologies. What separates Rwanda’s response is its reliance on scientific guidance and a high-tech approach to health and social service policies. For example, treatment centers are using human-sized robots for temperature checks and supply deliveries. National enforcement also deployed drones to monitor and ensure compliance with lockdown measures.
Fiscal Policy: The December 2020 update on fiscal policy in Rwanda includes $314 million in economic stimulus, corporate tax exemptions and subsidies, cash transfers to citizens (unemployment benefits) and food assistance. Rwanda’s financial capacity proved beyond national resources but international support was able to expand it. UNDP Rwanda and the World Bank are currently working closely with the Rwanda Ministry of Finance to discern how much the COVID-19 response plan will need for operation.
Monetary Policy: The National Bank of Rwanda reduced the policy interest rate to 4.5%. It has further plans to establish liquidity and digital payment support measures. In Africa’s Pulse, the World Bank classifies Rwanda as the only country established in the Growth Taxonomy in sub-Saharan Africa. The taxonomy compares pre-pandemic performance to mid-pandemic growth. Expectations have determined that Rwanda will achieve the highest post-pandemic recovery with a GDP growth of 7%. With economic drivers like vaccine campaigns and investment and trade boosts, countries like Rwanda and Tanzania expect GDP increases. East Africa in general is expected to reach 5.1% GDP growth as opposed to the continental average at 3.2%.
Kenya
COVID-19 Response Measures: Kenya adopted many of the common direct response measures, such as a widespread lockdown. Additionally, the U.N. praised Kenya’s maintenance of well-equipped emergency treatment hospitals to best accommodate not only Kenyan patients but also U.N. personnel and partners. Kenya’s hospitals can also potentially play an important role in regional humanitarian development.
Fiscal Policy: Kenya announced a $534 million economic stimulus, a $377 million COVID-19 health expenditure, corporate tax exemptions and subsidies, cash transfers to citizens and food assistance. Like other African countries, Kenya is receiving financial assistance from major international entities such as the World Bank and the E.U. With 86 different donors, Kenya received Ksh 194,663,072,350 ($177,3769,915.25) for COVID-19 response plans.
Monetary Policy: The Central Bank of Kenya reduced the policy interest rate to 7% and planned liquidity support measures. Additionally, the government launched the National Hygiene Program (Kazi Mtaani) to reduce pandemic-induced unemployment. It offers employment with daily wages to the hardest-hit communities. Jobs include street cleaning, garbage collection and disinfection. Kenya’s trade activities also indicate promising economic recovery. According to the World Bank’s Africa’s Pulse, Kenyan exports have already recovered rapidly and have surpassed pre-pandemic highs.
Senegal
COVID-19 Response Measures: The World Bank highlighted Senegal as demonstrating a successful health response to COVID-19. Swift responses were key, particularly in regards to test capacity, quarantine facilities and ventilators. Preventative measures also included temperature checks and hand sanitizer distribution. By September 2020, 80% of confirmed cases had recovered.
Fiscal Policy: Senegal has an $801 million economic stimulus, a $130 million COVID-19 health expenditure, corporate tax exemptions and subsidies, cash transfers to citizens and food assistance. Some participating entities for Senegal’s financing include the African Development Bank Group (AfDB), the International Monetary Fund (IMF) and the World Bank. For instance, AfDB contributed €88 million to support Senegal’s measures to provide relief to vulnerable households, businesses and job security initiatives.
Monetary Policy: Senegal’s monetary policy is in collaboration with other West African countries, including Benin, Guinea-Bissau, Mali, Niger and Togo. These countries work with the Central Bank of West African States (BCEAO), which has made FCFA 4.750 billion ($8,383,750) available to banks and has reduced policy interest rates to 4%. In Africa’s Pulse Growth Taxonomy, Senegal is one of five countries in the top tercile of growth performers. It has a classification of “improved.” Improved GDP growth can indicate the first signs of economic recovery.
The Road to Recovery
As a result of early preventative policy measures, fiscal and monetary policies, international financing and trade initiatives, many African countries have paved a road to post-pandemic recovery. Rwanda, Kenya and Senegal are merely three of the African countries benefiting from smart policy measures and quick COVID-19 responses. In many cases, these countries are experiencing even higher levels of growth than they did before the pandemic. The steps that these countries and others took can serve as a model for how to navigate the economic hurdles of a global pandemic.
– Malala Raharisoa Lin
Photo: Flickr
Addressing Poverty Conditions In The Gambia
The Gambia’s Economy
Peanut farming and processing remain the most significant industries in the country. The peanut crop is sold to The Gambia Groundnut Corporation. This company assigns the prices for the season in advance, pays the farmers and producers and then sells the product overseas. Once the peanuts are deshelled, they are pressed into oil at pressing mills. The leftover residue is used to make cattle cake.
As the tourism industry grows in size, the construction industry has grown in tandem. Other small industries branch off into selling and manufacturing food products, beverages, footwear, woods and textiles. But as one might expect, this dependence on agriculture limits The Gambia’s ability to make significant headway in advancing economic stability and infrastructure. The situation is worsened by the successive shocks of droughts and floods causing widespread damage, suffering and loss of life. These unyielding weather patterns and weak food production systems caused food insecurity to slowly rise over the past few years.
Housing and Employment
In general, most village houses consist of circular mud huts with thatched roofs. On rare occasions, they build several single-story concrete buildings. The location of homes in a particular community plays a large role in high levels of poverty, as well as with economic and social exclusion. The poor are more likely to live in larger polygamous family units, have more dependent children and live without electricity.
Informal jobs abound. The lack of off-farm labor opportunities in rural areas results in underemployment and outmigration, especially among women and youth. Also, The Gambia’s population is increasing at an incredibly fast rate. This speed is far outpacing the housing supply and the rate at which homes can be built. As a consequence, both villages and larger towns experience overcrowding populations. These conditions contribute to the development of slums in larger communities and poverty conditions in The Gambia.
Healthcare
Despite improvements made since The Gambia achieved independence, the overall state of national health is very poor. Inadequate sanitation directly causes most cases of illness. About one-third of people do not have access to safe drinking water. Malaria poses the most significant health threat, while other tuberculosis and various parasitic diseases are also highly prevalent health issues.
Even though The Gambia has a lower number of HIV/AIDS cases than many other African nations, it increased among younger women during the 2000s. On the other hand, the infant mortality rate in The Gambia is one of the highest in all of Africa, only made worse by the nation’s very young population. About two-thirds of all citizens of The Gambia are under 30 years old. A long-standing shortage of healthcare workers in The Gambia adversely affects the staffing of medical facilities, particularly in rural areas. To address this problem, the government established a medical school to train its doctors and implemented a series of healthcare strategies.
A Brighter Future
The Gambia’s environment, extreme reliance on agriculture and general lack of everyday necessities such as medical care places its citizens in poverty levels that are difficult to escape. But thankfully, hope exists in the many organizations that are working tirelessly to spread awareness and donate money and resources to The Gambia. One prime example is ActionAid Gambia, a nonprofit charity that focuses on achieving social justice, gender equality, and poverty eradication. Founded in 1972, the organization works to promote sustainable agriculture, improve the quality of public education for all children, advocate for women to receive economic alternatives and have control of their reproductive health rights and provide support towards eradicating diseases such as HIV/AIDS and Malaria. Over time and through many people’s efforts, it is possible to speed up the process of development to help decrease poverty conditions in The Gambia.
– Aditya Daita
Photo: Flickr
Ongoing Harm: Female Genital Mutilation in Liberia
Legal Activism
In 2018, President Ellen Johnson Sirleaf of Liberia signed the Domestic Violence bill, an executive order that banned FGM performed on girls younger than 18 years old, but the criminalization of FGM was limited to one year and expired in February 2019. The executive order did little to address the part community leaders play in perpetrating this crime. It also failed to change the immense social pressure placed on girls to undergo these treatments. For these reasons, female genital mutilation in Libera continues to be an issue.
International Pressure
The United Nations has been active in its role of fighting to end FGM globally. Due to the lack of policy regarding female genital mutilation in Liberia, Marie Goreth Nizigama, of U.N. Women Liberia, said, “50% of women and girls aged between 15-49 years” have been mutilated. On the International Day of Zero Tolerance for Female Genital Mutilation, Chief Zanzan Karwo who is the leader of Liberia’s National Traditional Council expressed frustration, rebuking international groups that have sought to abolish female genital mutilation in Liberia. He believes that FGM prepares young women to become good wives. Despite pushback, the pressure to end female genital mutilation in Liberia continues. Williametta E. Saydee Tarr, the gender, children and social protection minister in Liberia, claims that plans are being pursued to make FGM permanently illegal.
Cultural Progress
One of the most important aspects in fighting female genital mutilation both in Liberia and globally is engaging cultural leaders and communities in ending the tradition. If cultural attitudes toward FGM fail to change, then progressing human rights for girls and women will significantly decline. As a result of seemingly insurmountable cultural and financial pressures, girls and women willingly subject themselves to mutilation; therefore, even criminalization of FGM cannot end the mutilation without traditions and perspectives changing as well.
Liberia’s fight to end FGM is not restricted to policymaking and criminalization. Yatta Fahnbulleh, owner of a large bush school in Tienii that performed FGM on more than 200 girls, decided to end her engagement in FGM despite its financial benefits. In 2019, Spotlight Initiative aided in the startup of the Alternate Economic Livelihood program. This program provides resources and education to former practitioners. This way they can generate a source of income after losing their livelihood. Providing access to education and financial alternatives is essential in garnering the support of communities who depend on the practice for survival.
Looking Ahead
It is vital that the United Nations continues to place pressure on Liberia despite leaders expressing attachment to the practice. female genital mutilation endangers women and often causes lifelong sustained harm so, the pressure is appropriate and necessary. Alongside the international attention to criminalize FGM, efforts to engage leaders in ending devastating practices are of the utmost importance. The willingness of people like Yatta Fahnbulleh to close her school gives hope that people are willing to end female genital mutilation with proper education, tools and resources to survive.
– Hannah Brock
Photo: Flickr
Women in Science and Global Development
Society, Culture and Bias
Women’s empowerment starts with the foundation of education. Research shows that, as it stands, only 30% of the world’s researchers are women. One can explain this by cultural beliefs and social norms inhibiting women from pursuing a scientific education and career.
The gender gap in science underscores a societal bias. Furthermore, because the majority of researchers are men, research is less likely to head in the direction of improving the struggles and concerns that women face. Providing more opportunities in science and technology for women would help promote technological breakthroughs and progress for the betterment of both genders.
Women in Science
Data shows that although the share of women in science differs according to specific countries, women have experienced global underrepresentation in scientific and technological fields. For instance, in 2016, women represented 55% of all researchers in Tunisia, the highest rate in Africa. Alternatively, women comprised only 5% of all researchers in Chad.
According to the UNESCO Institute for Statistics (UIS), the average share of women researchers in Africa was 24.8% in 2016. This is approximately 4% lower than the already low international average of 28%.
Gender Equality and Development
For decades, the U.N. has supported gender equality and women’s empowerment. For instance, it adopted the Convention on the Elimination of All Forms of Discrimination against Women (CEDAW) in 1979, a landmark agreement putting women at the center of human rights issues and global development.
Gender equality also plays a crucial role in global development. Women’s empowerment is part of the 17 U.N. Sustainable Development Goals adopted in the 2030 Agenda for Sustainable Development. These goals represent a global partnership aiming to end poverty, promote education and health, reduce inequalities and more.
The U.N. gender equality goal (SDG 5) focuses on various targets such as ending discrimination against women, preventing the violent treatment and exploitation of women and ending child marriage and female genital mutilation. Target 5.5. entails ensuring “Women’s full and effective participation and equal opportunities for leadership at all levels of decision-making in political, economic and public life.” This target definitely extends to the scientific arena where women’s participation would mean scientific breakthroughs geared toward improving the struggles of women.
What is the OWSD?
The Organization for Women in Science for the Developing World (OWSD) is a program unit of UNESCO. This program unit has been supporting women scientists in developing countries since 1987. Supported by the Swedish International Development Cooperation Agency (SIDA), the “OWSD provides research training, career development and networking opportunities for women scientists throughout the developing world.” Since 1988, more than 470 women in developing countries have received fellowships and more than 270 have graduated. The OWSD grants fellowships in various fields such as biology, agriculture, medicine, engineering and physical sciences.
The main goal of the OWSD is to encourage and support women’s roles in technological and scientific fields as well as in leadership. In doing so, the organization underlines the importance of the representation of women in scientific and technological progress in developing countries. The OWSD also emphasizes the need for collaboration between women scientists to build a global network to continue assisting women in science.
The Role of Women
Women’s empowerment represents a key part of reducing global poverty and can also positively impact global peace. Women’s empowerment links to a country’s prosperity. Countries that offer women equal employment opportunities also have lower poverty rates and a higher GDP. Women also play a significant role in the success and development of children. Research shows that women are likely to invest 90% of their income into the household. Income would go toward securing the basic needs of the family, enrolling children in school and investing in healthcare.
Gender equality promotes social and economic developments. In turn, a strong and durable economy can help build peaceful societies. As Michelle Bachelet, the U.N. Women executive director, stated in 2013, “There can be no peace, no progress as long as there is discrimination and violence against women.”
Women’s Empowerment for Global Development
According to the OWSD, in many developing countries women make up the majority of caregivers and agricultural workers.”If women are included as both participants in scientific research and as the beneficiaries of scientific research” the results will be highly impactful. By giving women consideration, resources and agency, the OWSD contributes to significant progress in developing countries. The organization not only contributes to scientific and technological progress but also endorses gender equality and fundamental human rights all around the world.
– Soizic Lecocq
Photo: Flickr
Univoca Translation App Helps North Koreans
Korean Dialects
The North Korean language has always remained the same. It is known as Chosŏnŏ, whereas Hangugeo is the language of South Korea. The alphabet is the same but there are visual variations in terms of spacing, connection and appearance. Some words look completely different but most of the difference is in the dialect and pronunciation.
The developing democratic nation of South Korea frequently pokes fun at the northern dialect in comedy acts for seeming “quaint or old-fashioned. The government of the north, is of a hereditary nature as it is a family dictatorship that some often call a “hereditary dictatorship.” North Korea does not allow anything to stray from its traditional and conservative history. Defectors that have fled to South Korea often flee in a desperate attempt to leave their pasts behind them and begin a new life that does not involve dictatorship. Univoca, short for unification vocabulary, helps bridge linguistic barriers.
After the arduous journey to South Korea, many defectors describe the struggle with the language to be one of the biggest hardships. North Koreans can only understand about half of the language in South Korea. Defectors compare the transition to learning an entirely new language. Although they are eager to start a new life, the language barrier makes transitioning difficult.
The Univoca Translation App
South Korean teachers are hopeful that the Univoca app will help new defector students better understand their learning material. This, in turn, should help them progress in their educational endeavors. Univoca offers some independence from constantly relying on others to teach and translate the language.
The developers of Univoca’s dictionary deliberately and considerably chose the first 3,600 words of Univoca’s dictionary. Co-developer, Jang Jong-chul said, “We first showed this typical South Korean grammar textbook to a class of teenage defectors who picked out the unfamiliar words.” The creators also consulted older North Korean people to help with producing accurate translations.
Univoca users are able to type in the unknown word or scan a photo of it with a cellphone camera. The app then produces the appropriate translation. Univoca also offers commonly used phrases to guide users through basic activities such as ordering food off of a menu or asking for directions. Subscribers are able to add suggestions of words that they would like Univoca to add to the dictionary. This leaves room for a continually growing translation app.
The Univoca translation app is a simple solution with a tremendous impact. Univoca helps North Koreans transition to life in South Korea by offering assistance with the linguistic barriers that present themselves.
– Sarah Ottosen
Photo: Flickr
How the Argentine Debt Agreement Helps
The Argentine Debt Agreement
To help Argentina with its growing financial crisis, the Ad Hoc Group, Argentina Creditor Committee and the Exchange Bondholder Group have come to an agreement that will provide Argentina with financial relief in terms of its national debt. This relief is a major advancement in expanding Argentina’s access to international capital markets. The agreement lays the foundation for future sustainable fiscal policies that support the economy. Moreover, the debt agreement entails a lift of sovereign bonds by an average of 8.7%. Ultimately, Argentina is actively working toward providing sufficient cash flow within the economy to address rising economic concerns. This agreement also allows Argentina to avoid “protracted and costly legal proceedings with bondholders.”
Restructuring the Economy
The three creditor groups developed the debt agreement to restructure $65 billion worth of accumulated Argentinian debt. The creditors involved will receive 55 cents on the U.S. dollar. Originally, the president of Argentina, Alberto Fernandez, desired to pursue 39 cents. The Argentine debt agreement covers 20% of the public debt of Argentina, which amounts to $323 billion. This presents only a partial solution to Argentina’s financial crisis but will certainly help the country move toward economic stability.
If Argentina defaults on the debt, there are possible consequences. By defaulting, creditors will not be eager to invest in Argentina. Diminishing debt through repayment shows commitment but will lead to less investment in the domestic development of the country through social programs, pension benefits, unemployment packages and more. However, the agreement is a step toward solving the rest of the economic dilemma. It utilizes the restructuring method, which provides Argentina with a long-term plan for rebuilding the economy.
Moreover, the agreement modifies the dates of payment for certain bonds. The modification that will be implemented “will improve the value of the proposal for creditors.” Multifarious investors are interested in the profit restructuring will produce and are betting on a boost in the economy.
Negotiating Future Monetary Policies
Argentina’s debt restructuring does not end there. Argentina and the International Monetary Fund (IMF) will discuss Argentina’s plans on refinancing its $45 billion debt to the IMF. The focus will mostly be on loans maturing between 2021 and 2024. During this period, the International Monetary Fund will hold Argentina accountable for certain economic obligations. This accountability entails that Argentina must utilize “credible economic data” as proof of Argentina’s economic recovery path.
The Road Ahead
Debt relief is an effective solution to addressing Argentina’s financial crisis and rebuilding a resilient economy. Negotiations with creditors involve the nation requesting reasonable interest rates from now on, which will allow Argentina to truly stabilize. The agreement is very desirable as Argentina is also navigating the added impacts of COVID-19. In general, this revamped economic plan will not solely benefit Argentina but also the international financial system. By setting new precedents, Argentina can effectively re-enter the global market, ultimately contributing to global economic growth as a result.
– Lauren Tabor
Photo: Flickr
Examining Human Trafficking in Costa Rica
Known as one of the ultimate vacation destinations, Costa Rica is a place of beautiful scenery, tourist hotspots and lively culture. However, Costa Rica needs to address human trafficking. Human trafficking in Costa Rica is one of the only areas in which the country falls short in comparison to its Central American neighbors. When it comes to GDP, level of happiness, human development and corruption, Costa Rica performs quite well. Here is some insight into human trafficking in Costa Rica and why it is so prevalent.
The Trafficking Victims Protection Act (TVPA) of 2000
The Trafficking Victims Protection Act (TVPA) of 2000 aids the U.S. government’s anti-trafficking efforts by providing the implements necessary to monitor and combat trafficking across the world and in the United States. The amended act authorized the establishment of The President’s Interagency Task Force to Monitor and Combat Trafficking in Persons (PITF) as well as the Trafficking in Persons Report (TIP).
Every year, the Secretary of State submits a TIP report ranking a list of countries requiring special scrutiny. The Secretary of State ranks each country or territory in one out of four tiers.
The Situation in Costa Rica
In 2020, Costa Rica was in Tier 2 under the TVPA. If human trafficking in Costa Rica does not show increasing progress over the next few years, it could fall to Tier 3. Not only does Tier 3 mean international disrepute, but it has serious economic consequences in regards to foreign assistance. Efforts to decrease human trafficking in Costa Rica include:
Prioritized Recommendations for the Costa Rican Government
Although these steps by the Costa Rican government are significant, the country is falling short in some areas. The TIP report for Costa Rica includes “Prioritized Recommendations.” Here are some recommendations that Costa Rica could undertake:
Factors of Human Trafficking in Costa Rica
Due to a lack of resources and job opportunities, systematic inequality and poverty most frequently link to human trafficking. Even though Costa Rica is among the least poor countries in Latin America and the Caribbean, it has not seen much economic growth since 2010, and about 21% of its population lives in poverty.
Another factor contributing to human trafficking in Costa Rica is its prostitution laws. Although the facilitation and promotion of prostitution are illegal, the act of prostitution is not a crime. This makes Costa Rica reputable as a sex tourism destination. It is the number one destination in Central America for sex tourism. The legality of prostitution makes corruption easy in regards to trafficking minors as well as making sex establishments more accessible.
Behind drugs, human trafficking is the second-most profitable illegal industry. According to The International Labor Organization (ILO), profits from human trafficking are around $150 billion annually. The high earnings of the industry are another factor that promotes human trafficking in Costa Rica.
There are also cultural factors that affect human trafficking in Costa Rica. For instance, Costa Rica has a strong presence of masculinity. As a result, many men in Costa Rica view women as sexual objects. Factors such as traditional gender views, sexual harassment and domestic violence strengthen the systematic inequality in Costa Rica and put women at more risk for exploitation.
Taking Action
Multiple institutions are coordinating together to prevent human trafficking in Costa Rica. The National Coalition against Illicit Smuggling and Trafficking of Migrants (CONATT) coordinates short and long-term assistance to trafficking victims in the form of shelter, food and medical care. Chaired by Migration Authority, CONATT comprises 22 public institutions, key NGOs and international organizations. They meet periodically to review progression in areas such as research, prevention, protection and prosecution. They take action to raise awareness via workshops, fairs, advertisements and training on how to identify and prevent trafficking. As these preventative measures continue, Costa Rica could be on its way to Tier 1 placement under the TVPA.
– Addison Franklin
Photo: Flickr
Nonprofit Organizations that Celebrities Founded
Movie stars, singers, athletes and comedians spend a large portion of their time entertaining people, giving interviews and writing autographs. On top of that, many celebrities participate in charity events like fundraisers or benefit concerts, some even going as far as to create their own organizations to give back to those in need. Here are some nonprofit organizations that celebrities founded to benefit the world’s most vulnerable.
Charlize Theron – The Charlize Theron Africa Outreach Project
Charlize Theron is a famous Hollywood actress and U.N. messenger of peace who cares about charity. She has especially been working hard to fight AIDS in Africa. While the disease continues to be an immense issue throughout the entire continent, it remains the most prevalent in South Africa, which is Theron’s home country. She established The Charlize Theron Africa Outreach Project (CTAOP) in 2007. The organization aims to raise awareness of the disease and contribute to its prevention. CTAOP especially focuses on younger people and collaborates with local programs to inform and support the youth in Africa. Furthermore, CTAOP partners with several companies and nonprofit organizations to successfully provide preventative means and guidance to South Africans.
Shakira – The Barefoot Foundation
The Barefoot Foundation is one of many nonprofit organizations that celebrities founded. Famous pop star Shakira has shown the impact nonprofit organizations can have. As such, she created the Barefoot Foundation in 1997. The organization acknowledges the importance of education and provides organizational and financial support to assure that children can go to school. In addition, the Barefoot Foundation also partners with the Pies Descalzos Foundation, an organization from Colombia that shares the same mission.
The Pies Descalzos Foundation opened its fifth Colombian school in 2009 to provide education, advice and general support in life to 1,800 students in the country. In 2010, Shakira promised that the Barefoot Foundation would build a school in Haiti and assured that the children attending the school would be able to obtain their academic and basic life needs.
Rihanna – The Clara Lionel Foundation
Rihanna founded the Clara Lionel Foundation (CLF) in 2012. Its name is a homage to her grandparents Clara and Lionel. The organization’s goal is to provide education and guidance to children and teenagers all over the world. The approach of Rihanna’s nonprofit organization is to tackle problems on both a local and global level. She wishes to raise awareness of several kinds of issues that the world’s youth is facing. Moreover, CLF is working closely with government organizations and companies to be more efficient and help as many people as possible. The organization has successfully established programs to provide basic education in places like Malawi, Senegal and Barbados. Furthermore, it provides a scholarship program to support students in their pursuit of higher education.
Bono – ONE and RED
ONE and RED are two nonprofit organizations that Bono created. The lead singer of the Irish band U2 has put a lot of effort into his charity work over the years. He has specifically focused on tackling important issues in Africa. ONE’s mission is to completely eradicate extreme global poverty and improve the lives of the poor. Bono’s lobbying efforts and the organization’s financial support have established programs. These programs aim to prevent the deaths of millions of people.
RED is a sister organization to ONE. It aims to spread awareness about AIDS and has successfully raised around $650 million to treat the disease in Africa. On top of that, Bono also co-founded The Rise Fund, a financial program that focuses on supporting progress for social and environmental matters.
Ashton Kutcher and Demi Moore – Thorn
Actress Demi Moore and actor Ashton Kutcher founded Thorn together in 2012. The couple’s goal was to fight against child sex trafficking. A documentary about the issue in Cambodia motivated them to create Thorn. Thorn’s approach is to develop technologies for free and share them with law enforcement and federal agencies in order to save children. The use of technology against child sex traffickers has proven to be very successful since the organization’s establishment. Moreover, Thorn’s technologies helped identify 5,894 kids who were victims of the crime in 2017. Moreover, Thorn rescued more than 10,000 children rescued one year later.
These organizations that celebrities founded have shown vigor in countering numerous challenges from AIDS to providing child sex trafficking. The endeavors of the prominent celebrities above have led to improvements in the lives of many across the globe.
– Bianca Adelman
Photo: Flickr
The Artisan Nation and Female Empowerment in India
Danielle Chiel is an Australian philanthropist who founded The Artisan Nation in 2020. This is the second organization that Chiel has founded. Additionally, she strives to improve female empowerment in India. Chiel started knitting at the age of 10. She realized that she could teach her craft to women and subsequently help improve their lives.
The Artisan Nation
The Artisan Nation is an organization working in India. This organization defines itself as a “nation that is not bound by geography, language or culture.” Rather, it is one that is united “by passion, creativity and talent.” Furthermore, the Artisan Nation has one unifying goal to increase the health and wellness of women and people in the villages the organization works in. It accomplishes this in four ways:
The Artisan Nation also strives to establish financial independence for women by providing consistent work, smartphones, lessons on how to use the phones and financial literacy courses.
The organization currently supports five villages in Southern India. However, Chiel hopes to reach more in the future. Each village needs $10,000 to support the workers and provide “balanced” lives for everyone in the village. While companies can get involved by cooperating as members of the Artisan Nation, Chiel encourages individuals to get involved as well. Donating just $10 can help fund a village.
KOCO
Chiel first created the organization Knit One Change One (KOCO) to improve female empowerment in India. It employs women in Tamil Nadu, India and provides them with classes in English, mathematics and knitting. These women hand-knit garments for 12 brands from various countries around the world. Since these jobs offer full-time employment, KOCO gives these women the opportunity to be financially independent and support their families. KOCO employed 200 women in 2019, but Chiel hopes that the organization will eventually employ 40,000 women.
Qiaoxifu in China
While Chiel fosters female empowerment in India and poverty reduction with her programs, other initiatives are using textile work to do the same. China’s program called Qiaoxifu has employed over 120,000 impoverished women in the textile, tourism and e-commerce sectors. In one sewing factory in the Henan Province, the workers make about $440 a month. Whether it is in Chiel’s organizations or the Qiaoxifu program, these initiatives help women become more financially independent, empowered and able to support their families.
– Sophie Shippe
Photo: Flickr