Economy

Global financial crisis may slow growth in poor nations.

By George Bamu on February 12, 2009

U.S. President Barack Obama has called it “the worst financial crisis in our life time”. You can call anything you like; the crisis of a generation, the trickle-down effects of the sub-prime mortgage lending mess, the multiplier effect of a cascading landslide or whatever, but the global financial crisis is hitting not only the United States but all countries around the world.

It may not be a great depression, or anything similar to the 1972 oil shock or even the 1987 stock market crash, but the culmination of these economic events have implications for today’s internet generation unlike the 1930’s, 1970’s or 1990’s.…

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Zimbabwe’s New Financial whiz

By George Bamu on February 11, 2009

Photo Credits:BBC

One of President Robert Mugabe’s most vocal critics is set to become the new finance minister of Zimbabwe, according to the BBC World service. Tendai Biti, who is MDC secretary general, had been under investigation for treason following allegations of a coup plot in the past, the BBC reports. If he becomes finance minister, Mr. Biti’s job will be one of the toughest in the new coalition government and he will be expected to help fix the country’s depressing economic problems.

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Africa amidst the global financial crisis

By George Bamu on October 18, 2008

If we can forget about the doom and gloom created by the world financial
crisis for a moment and look at history, economists will tell us that the
crash of the stock market and fears of a recession or depression is nothing
new. By the way, some of us can barely remember the crash of 1987 when the
stock market lost as much as 45% of its value in markets around the world.
In 2008, the only thing that appears new is that it is being witnessed by a
whole new generation that was not here in 1987 or as happened in 1929 during
the great depression.…

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The Shock Doctrine

By George Bamu on July 11, 2008

What are you reading this summer?
For summer 2008, I have picked up an interesting selection of best sellers and now simmering though some of them. I am a non-fiction type and focus more on the category of books that carry socio-economic or political bearings on the fabric of the current global landscape.

While watching Foreign Exchange on PBS the other day I stumbled on The Shock Doctrine:The Rise of Disaster capitalism by Canadian writer Naomi Klein. The interview between Naomi Klein and Daljit Dhaliwal was a powerful exchange which made me quickly rush to my local book store to obtain a copy of the book.…

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2011 Africa Agenda