World Leaders Holding Emergency Financial Market Summit in Washington
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Group of 20 summit likely to agree on action plan to bolster slowing world economy
Leaders whose countries account for over 75 percent of global economic activity are meeting Saturday at Washington's National Building Museum. VOA's Barry Wood reports the five-hour Group of 20 summit is likely to agree on an action plan to bolster a slowing world economy.
President Bush and Treasury Secretary Paulson (c) participate in Summit on Financial Markets and World Economy in Washington, 15 Nov 2008 German Chancellor Angela Merkel said this is the first time that key developing and advanced economies are meeting together at the world leader level. The Washington summit, she said, will adopt an action plan that demonstrates the international community's capacity to overcome a financial crisis. British Prime Minister Gordon Brown said the one-day meeting is making progress on financial market regulation and reforming the International Monetary Fund. As he entered the morning session of the meeting, U.S. President Bush said much work remains to be done."This crisis has not ended," he said. "There is some progress being made, but there is still a lot more work to be done. We had a good frank discussion over dinner last night and I look forward to the discussions today."Analysts say this emergency summit marks a shift away from decades of dominance by North America, Europe and Japan in global economic decision-making. The Washington gathering includes the world's fastest growing economies - China and India, as well as South Africa, Saudi Arabia, three Latin American countries, Indonesia, South Korea and Turkey. The so-called Group of 20 has existed for a decade at the finance and trade ministers level.Eswar Prasad, economics professor at Cornell University, says the meeting elevates the stature of developing countries."Having these leaders stand together, I think, does convey a very powerful symbol that these leaders are ready to do something and throw what they can at the problem," said Prasad.This emergency meeting was held at the urging of the French and British leaders. Some analysts say its importance is minimized by the absence of incoming U.S. President Barack Obama, who doesn't take office until late January. G-20 leaders say a followup session is likely to be held in the next five months.The meeting is principally concerned with averting a deepening global slowdown through tax cuts and increased government spending to spur flagging consumer spending. No consensus is expected in Washington on the need for regulatory reforms as well as changes in the voting structure of the International Monetary Fund and World Bank.
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Pakistan: IMF to Provide $7.6 Billion Loan
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Top economic advisor Shaukat Tareen says loan will prevent Pakistan from defaulting on foreign debt
Pakistan's finance chief says the International Monetary Fund has agreed to provide a $7.6 billion loan to help the country stabilize its economy.Top economic advisor Shaukat Tareen says the loan will prevent Pakistan from defaulting on its foreign debt.Tareen told reporters in Karachi Saturday that Pakistan will formally apply for the loan next week, but that the IMF has agreed to the deal.Tareen says Pakistan expects its first IMF loan disbursements this year.
Some information for this report was provided by AFP, AP and Reuters.
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Obama Urges Congress Act to Swiftly on Economic Crisis
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US president-elect says if Congress does not pass economic rescue plan, he will make it first order of business as president
President-elect Barack Obama (Nov 2008 file photo)U.S. President-elect Barack Obama is urging Congress to move quickly on a plan to deal with the financial crisis in the country and help struggling families.In Saturday's Democratic weekly radio address, Mr. Obama said if Congress does not immediately pass an economic rescue plan, he will make it his first order of business as president. He said the rescue package should create jobs, relieve financial pressure on families and revive the economy. Mr. Obama expressed optimism that, with new policies and a spirit of service and sacrifice, the country can steer itself out of economic turmoil.He praised world leaders for coming to Washington to seek a solution to the global financial crisis, saying the matter requires a "coordinated global response." On Friday, Mr. Obama announced a delegation is taking part in G-20 summit on his behalf.
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Residents of California Evacuate as Fire Rages
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Wildfires roar through residential areas in south of state
A Los Angeles County fire department helicopter drops water during a wildfire that destroyed several homes in the Sylmar area of Los Angeles, 15 Nov 2008Authorities in the U.S. state of California have ordered thousands of
people to evacuate their homes Saturday, as wildfires roar through
residential areas in the south of the state.In Los Angeles, a
fast-moving fire tore through a neighborhood and briefly surrounded the
UCLA-Olive View hospital, cutting power. Firefighters continue to fight the flames, which first broke out on Friday night.Fires
also continue in the celebrity enclave of Montecito. More than 5,000
homes have been evacuated since the fires first erupted on Thursday
night.Actors and personalities including Oprah Winfrey and Rob
Lowe were among those fleeing their Montecito homes. Christopher
Lloyd, known for his role in the "Back to the Future," movies lost his
home to the blaze.Authorities are investigating the causes of both fires.
Some information for this report was provided by AP and Reuters.
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EU, Russia Resume Security Talks
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French President Nicolas Sarkozy urges Russia, US to freeze missile deployments until mid-2009 security talks
The European Union and Russia have agreed to resume strategic partnership talks next month that had been frozen over the conflict with Georgia. From Paris, Lisa Bryant reports that French President Nicolas Sarkozy said he had also received backing from Moscow for talks on security in Europe during a summit in Nice, France.
Nicolas Sarkozy, left, and Dmitry Medvedev walk in Nice during the EU-Russia summit, 14 Nov 2008
French President Nicolas Sarkozy urged both Russia and the United States to freeze missile deployments in Europe until security talks are held, ideally in mid-2009 within the framework of the Organization for Security and Cooperation in Europe.
Speaking to reporters after talks with his Russian counterpart Dmitry Medvedev, Mr. Sarkozy said it was in everybody's interests to lay the foundations of the future of security in Europe. He said the talks should include the United States as well as Russia and the European Union. He spoke in his current role as president of the European Union. U.S. plans to build a missile defense shield in Poland and the Czech Republic have particularly irked Moscow. Mr. Medvedev has called for deploying short-range missiles close to Europe's borders. On Friday, the Russian president suggested that call was in response to the U.S. defense missile plans and that Moscow had never acted unilaterally. Russia and the E.U. also agreed to restart special partnership talks on December 2. Europe had suspended the talks after the August conflict in Georgia. The two leaders spoke just before leaving for Washington where they will join the world's top economic powers for a summit on ways to tackle the global financial crisis. Both leaders are expected to call for more government regulation.
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UN: Iraqi Provincial Elections on Track for January
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UN envoy warns violence, spoilers could derail vote
The U.N.'s top envoy to Iraq says provincial elections scheduled for early next year are on track, but warned that violence could spike and spoilers could try to derail the vote. Meanwhile, the U.N. mandate authorizing U.S. forces to be in Iraq will expire at the end of this year, and the two countries have yet to finalize an agreement on the future status of the U.S. presence. From United Nation's headquarters in New York, VOA's Margaret Besheer has more.The United States and the United Nations said the levels of violence in Iraq are steadily decreasing, basic services are slowly improving and the Iraqi security forces are growing both in size and ability.The next test of progress for this nascent democracy will be provincial elections scheduled for January 31st, 2009. They will take place in 14 of Iraq's 18 provinces - everywhere except the semi-autonomous Kurdish region in the country's north.The United Nation's top envoy in Iraq, Staffan de Mistura, told the Security Council Friday that the focus of the U.N.'s work right now is preparing for that election, which is seen as a major step toward political stabilization. "The Iraqi people want these elections. The forthcoming elections are rightly viewed as an opportunity to establish a more inclusive sectarian balance and shape a new political landscape and are the most significant political event in the forthcoming months," de Mistura said. A U.S. soldier watches as black smoke rises in the city of Mosul, northwest of Baghdad, 14 Nov 14 2008He said the election preparations are on track, but spoilers could try to derail them and a spike in violence leading up to them would not be surprising.Meanwhile, the U.N. mandate governing the presence of U.S. and foreign troops in Iraq is due to expire at the end of this year. The United States and Iraq have been engaged in lengthy and difficult negotiations on an agreement - known as the status of forces agreement [SOFA] -- that would replace the U.N. mandate.Iraqi Ambassador Hamid al-Bayati said he is optimistic an agreement can be reached before the mandate expires."We are still optimistic that an agreement will be reached between the Iraqi and the U.S. government regarding the status of forces agreement. However, we keep all our options open. We still have the chance if they cannot reach an agreement by the end of December to go back to the Security Council to ask for the extension of the mandate for the multinational forces," he said.The current draft agreement calls for U.S. troops to leave Iraqi cities by June 2009 and from the entire country by 2011. But there are still some sticking points. Ambassador Bayati said the most important issue for Baghdad is that of Iraqi jurisdiction over U.S. forces in Iraq, removing their immunity in cases of crimes committed in the line of duty.
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UN Agency Halts Food Aid in Gaza after Israel Shuts Border
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Humanitarian crisis looming in Gaza Strip, after new wave of Israeli-Palestinian fighting
A humanitarian crisis is looming in the Gaza Strip, after a new wave of Israeli-Palestinian fighting. Robert Berger reports from the VOA bureau in Jerusalem.Palestinian workers turn away woman seeking food aid at UN food distribution center in Shati refugee camp in Gaza City, 15 Nov 2008Palestinian refugees who came to pick up food at a United Nations agency in Gaza were turned away empty handed. Some 20,000 people were due to pick up packages containing rice, flour, sugar and oil but the warehouses are empty. The reason: Israel shut its border crossings into Gaza 11 days ago in response to Palestinian rocket attacks. U.N. spokesman Chris Gunness said the rocket attacks are intolerable."Of course Israel has legitimate security concerns and we respect that and we respect the right and indeed the obligation of Israel to take action," said Gunness.But Gunness said that is not a justification for cutting off food supplies, and he demanded that the borders reopen immediately. "Let's see this for what it is. Fifty-six percent of the Gaza Strip are children. Let us not cause suffering of innocent children," said Gunness. Violence erupted 11 days ago when Israel launched a cross-border raid into Gaza that it said was necessary to prevent the kidnapping of Israeli soldiers. The Islamic militant group Hamas that rules Gaza responded with rocket and mortar attacks. The fighting has brought a five-month-old cease-fire to the brink of collapse.
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Tibetan Exiles Ponder Fate at India Conference
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Spiritual leader Dalai Lama calls six-day meeting after failing to make progress in negotiations with China
Tibetans from around the world are gathering in the Indian hill station
of Dharamsala for their largest political conference in nearly 60
years. The Dalai Lama called the six-day meeting, which begins Monday,
after failing to make progress in negotiations with China on the fate
of Tibet. But the Tibetan spiritual leader will be notably absent. VOA
correspondent Steve Herman reports from New Delhi.Tibetans and their Indian supporters marching in New Delhi, India, 18 Apr 2008For six days, 600 Tibetan exiles will try to chart the course of their
peoples' future. Frustrated by decades of fruitless talks with the
Chinese, who invaded Tibet in 1950, members of the community's
government-in-exile and other prominent Tibetans will debate their
options. Officials in Beijing, which insist Tibet is an
integral part of China, say those at the meeting will not represent the
sentiment of the majority of Tibetans. The Chinese government accuses
the Dalai Lama of cloaking aspirations for independence inside his
moderate call for meaningful autonomy. Karma Chophel (file photo)The speaker of the
Tibetan parliament-in-exile, Karma Chophel, tells VOA News his
compatriots will look at fresh approaches towards China, but armed
struggle is not an option. "We are not talking about
violence," he said. "We are talking about a settlement of the Tibetan
issue. And for that, so far, His Holiness [the Dalai Lama] has been
trying to reach a settlement through what is called the 'middle way'
approach. But that has not produced any result. So now he has called
upon the Tibetan public to discuss what further ways can be found." Some
younger Tibetans want an outright push for independence. Some of the
disenchanted question the effectiveness of the long-standing pacifist
approach. Such voices have escalated following rioting in Tibet in
March. And the Dalai Lama, in recent months, has expressed a sense of
failure. The Dalai Lama Speaker Chophel says the revered spiritual leader
will not try to sway his followers during the conference. "For the
purpose of not influencing public opinion, he is avoiding the meeting,"
he said.The latest round of negotiations this month in Beijing
between the Chinese and Tibetan representatives failed yet again to
make any progress. China considers the meeting in Dharamsala, home of
the Tibetan government-in-exile for five decades, a meaningless
exercise that will get the Tibetans nowhere. It is also reminding
neighbor India to abide by its long-standing pledge not to allow on its
soil activities Beijing says are aimed at splitting Chinese territory. In
a statement Friday the Dalai Lama said the special meeting has no
specific agenda or pre-determined outcome. But he is calling for
Tibetans to set aside their partisan differences to determine what he
called "the best possible future course to advance the Tibetan cause."
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Good Governance Award Given to Botswana's Former President
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Festus Mogae has been trailblazer in fight against HIV virus, champion of environment
The foundation created by Sudanese-born British businessman Mo Ibrahim
is awarding its annual prize for good governance in Africa to
Botswana's former president Festus Mogae. The award, given to the
former president in Egypt Saturday, is intended to honor exemplary former
African rulers and set an example for current leaders to follow, as
Edward Yeranian reports for VOA from Cairo.Bostwana's former President Festus Mogae (file photo)African dignitaries,
several past and present world leaders, and members of the Mo Ibrahim
Foundation gathered in Alexandria, Egypt Saturday to honor Botswana's
former president Festus Mogae with the second annual Mo Ibrahim Award,
given to the continent's best governing and most outstanding former
leader.The prize, worth $5 million dispensed over a ten year
period, with an additional $200,000 annual stipend after that, was
established by Sudanese-born, British telecommunications magnate Mo
Ibrahim in 2007. Last year's prize went to former Mozambique president
Joaquim Chissano.Kofi Annan announces the 2008 recipient of The Ibrahim Prize for Achievement in African Leadership in London, 20 Oct 2008Former U.N. secretary-general Kofi Annan, who
presided over the selection of Mr. Mogae, spoke about the virtues of
the former Botswanan leader at a ceremony in London announcing the
prize-winner several weeks ago."I'm delighted to announce that
the winner is Festus Gutambanje Mogae," he said. "When elected in
1998, President Festus Mogae took over a country which was already one
of the continent's success stories. Its democracy was strong, stable
and rooted in the rule of law." "Botswana was widely regarded
as one of the more effective countries in the world in combating
corruption. President Mogae's outstanding leadership has insured
Botswana's continuous stability and prosperity in the face of HIV/AIDS
pandemic, which threatened the future of his country and people. This
greatly impressed the committee," he added.Mr. Mogae has been a
trailblazer in the fight against the deadly HIV virus in his native
Botswana, as well as a champion of the environment and protecting the
continent's natural resources. He spoke of his crusade to defend the
environment at an International Conservation Foundation gathering in
2007."The future of our planet is dependent on how well we care
for the environment and manage our natural resources," said President
Mogae. "I will highlight our effort and the challenges we are faced
with in the management of the environment and protection of our natural
resources in our little Botswana. I should add that the support of the
U.S. government, the international community, and the private sector
will greatly enhance our efforts."Mo Ibrahim speaks to the media during the announcement of the 2008 recipient of The Ibrahim Prize for Achievement in African Leadership in London, 20 Oct 2008Mo Ibrahim, the founder of
the African cell-phone giant Celtel, is contributing up to $5 million
of his own money to set up the foundation which is making the annual
African good-governance award. Ibrahim's foundation is also publishing
an index of good governance in Africa each year, which includes such
benchmarks as security, economic opportunities, transparency,
democracy, human rights, education, and health.Ibrahim told
al-Jazeera TV's David Frost, during an interview last year, that the
cornerstone of his foundation was "not the annual prize… but the
index... which has 70 parameters… and gives a score card for each
country in Africa."This year's index was presented at a
ceremony in the Ethiopian capital, Addis Ababa, in October, during
which Ibrahim spoke of the need for good governance."I think
we're all aware of the importance of good leadership in
Africa... actually, everywhere, but particularly in Africa," said Ibrahim. "A lot really is at stake there. We witness a new generation
of African leadership coming through to take us forward."
"In Addis Ababa,
we launched a index for this year: the index for African governance,
and we're very pleased to notice that two-thirds of the African
countries managed to improve the standard of governance over the year,
compared with the previous year. These are good news. Unfortunately,
good news are masked by the trouble spots in two or three places in
Africa. But Africa has 53 countries and there's a lot of good news
happening in Africa. So, today, we try and separate and bring the good
news forward," he continued.Christiaan Poortman, of Berlin-based Transparency
International, which puts out its own index of good governance and
corruption across the globe, tells the VOA in a phone interview why he
thinks it is important to honor Africa's best leaders."It's
obviously a global issue, but particularly in the African context it's
useful to identify people who might be role models in terms of their
behavior in bringing transparency and accountability to governance and
governments," said Poortman.
"Well, Mr. Mogae is a man with a very
great reputation for being a very responsible, transparent and
accountable leader; as a matter of fact, Botswana has a long history,
as you may know, of a very particular type of governance, which
generally is perceived to be very much in line with what one would like
to see an accountable government look like. I think Mr. Mogae has
embodied that and I think he is indeed a role model that one would like
to see followed," he added.Not everyone, however, is entirely pleased
about the Mo Ibrahim Prize, or of its winner, despite an overwhelmingly
positive reception for both former president Mogae and the Ibrahim
Prize from the media.A London-based Africa analyst, Cameron
Duodu, told al-Jazeera TV's Inside Edition that he questioned the
motivation of giving a prize to an African leader who was "merely doing
his job," albeit "doing it well."Another group, calling itself
"Survival International," is criticizing the award and Mr. Mogae for
allegedly evicting members of Botswana's Bushman Tribe from their
ancestral lands.
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US Space Shuttle Endeavor Heads for Space Station
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Shuttle carrying seven astronauts, components to increase living space on space station
The shuttle Endeavour has launched late Friday on a 15-day mission to visit the International Space Station for repairs and upgrades. VOA's Brian Wagner reports from Miami.
Shuttle Endeavor lifts off on trip to space station, 14 Nov 2008Endeavour blasted into space, carrying more than 6,500 kilograms of equipment and supplies for the International Space Station. The crew of five men and two women took off in a rare evening launch from the Kennedy Space Center in Florida. "Three, two, one. Booster ignition, and liftoff of space shuttle Endeavour, preparing our home in space for a larger international family. ... Houston now controlling."
The shuttle's payload includes equipment for two bedrooms, a bathroom, kitchenette, exercise machine, as well as a recycling device to turn the astronauts' urine into drinking water.
NASA officials say the additions will double the capacity of the space station, allowing it to handle six astronauts as planned in the future.
The Endeavour mission also is set to include four space walks to repair a joint on one of the station's solar wings.
The shuttle will bring home astronaut Gregory Chamitoff, who is being replaced at the space station by Sandra Magnus.
The Endeavour mission is the first shuttle flight since NASA officials delayed a planned mission of Atlantis to service the Hubble telescope earlier this year. Officials now say the mission is likely to take place in April to replace a scientific computer and other equipment on the space telescope.
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