By Sarah Marsh HAVANA (Reuters) - Israel Hidalgo and his wife left home around 7:30 a.m. to reach a supermarket across Havana because they heard it might be selling chicken, a staple of the Cuban diet increasingly scarce on the shortage-plagued island. After Cuba started limiting sales this month, partly blaming tightened U.S. economic sanctions on the Communist-run island, the couple wanted to buy as much as possible and lined up for three hours under the Caribbean sun to get tickets guaranteeing them their rations. Inside, they lined up again to collect two bags of chicken thighs each, as fellow shoppers elbowed one another in pursuit of their own rations, and headed for the checkout feeling like they had won the lottery. "We were born in this revolution and are used to rough times," said Hidalgo, a 61-year old blacksmith. "We are bracing ourselves for it to get worse." Long lines outside shops with mostly bare shelves are increasingly common in Cuba, and the government has indeed … [Read more...] about Shortages plague Cuba as U.S. sanctions sharpen economic woes
5 economic problems
By Michelle Nichols UNITED NATIONS (Reuters) - United Nations aid chief Mark Lowcock told the U.N. Security Council on Wednesday that there is a "very real humanitarian problem" in Venezuela and that the world body is ready to do more if it gets more help and support from all parties. "The scale of need is significant and growing. The United Nations is working in Venezuela to expand the provision of humanitarian assistance," Lowcock said. "We can do more to relieve the suffering of the people of Venezuela, if we get more help and support from all stakeholders." He briefed the council on a recent U.N. report on the situation that estimates about a quarter of Venezuelans are in need of humanitarian assistance and painted a dire picture of millions of people lacking food and basic services. Some 3.4 million Venezuelans have left the country, Lowcock said. This number was expected to rise to some 5 million by the end of the year, said Eduardo Stein, the joint envoy for Venezuelan refugees … [Read more...] about U.N. aid chief says ‘very real humanitarian problem’ in Venezuela
Nasser Karimi, Associated Press Updated 10:36 pm PST, Thursday, February 7, 2019 In this Thursday, Feb. 7, 2019 photo, butcher Ghasem Olfatian works at his shop in Tehran, Iran. The economy faces multiple struggles as the country marks the 40th anniversary of the Islamic Revolution. Inflation continues to rise as its currency depreciates and university graduates are unable to find jobs. Some of the challenges stem from the re-imposition of U.S. sanctions while other problems date back to the time of the revolution. less In this Thursday, Feb. 7, 2019 photo, butcher Ghasem Olfatian works at his shop in Tehran, Iran. The economy faces multiple struggles as the country marks the 40th anniversary of the Islamic Revolution. ... more Photo: Vahid Salemi, AP Photo: Vahid Salemi, AP Image 1 of / 10 … [Read more...] about Long lines to buy meat illustrate Iran’s economic woes
HUGO Chavez was the 45th president of Venezuela and many credit him for the economic collapse of the South American country. We explain who he was, what he was like as a leader and how his policies led to Venezuela’s current economic crisis. Who is Hugo Chavez? Hugo Chavez was born on July 28, 1954 and died on March 5, 2013. He was the president of Venezuela from 1999 until his death in 2013. Chavez as born into a working-class family and became a career military officer after developing a dislike for the governing Venezuelan political coalition called the Puntofijo Pact. He then founded the Revolutionary Bolivarian Movement-200 (MBR-200) in the early 1980s. He led an unsuccessful coup d’etat against President Carlos Andres Perez in 1992. Chavez was imprisoned for two years and after he was released he founded the Fifth Republic Movement political party and elected as president in 1998. How did Venezuela collapse under Chavez? Chavez adopted a new constitution in 1999, and … [Read more...] about How long was Hugo Chavez in power and is he to blame for Venezuela’s economic collapse?
Jakarta (ANTARA News) - Optimism is strong that the country`s economic condition would continue to improve. The signs were quite obvious from the start of the year. In the first three months of the year, the economic condition was better than in the same period last year. The Central Bureau of Statistics (BPS) said the economy grew 5.06 percent in the January-March period in 2018 as against growth rate of only 5.01 percent in the same period last year. Hope is high that the economy would grow further after data in the following quarter indicated better performance with the growth recorded at 5.27 percent. In the third quarter the growth rate fell but remained fairly strong at 5.17 percent. Averagely the economy grew 5.17 percent in the first nine months of the year. The performance, however, still fell short of the target of 5.4 percent set for 2018. It is predicted that the economy would grow 5.1-5.2 percent in 2018 . Observers said next year , the economy is expected to grow by … [Read more...] about Optimism amid gloomy global economic condition by Citro Atmoko/A. Saragih