At that time, a $20 Zimbabwean dollar was the largest currency domination and it was used in 95% of all Zimbabwean transactions. The weakening of Zimbabwe’s economy began in 1999 when the economic activities started to decline and public debt started to rise. During the year 2000 and 2001, as a result of land reallocation, agricultural tracks got redistri... ... middle of paper ... ... lines for hours for food that was not even guaranteed. However, dollarization was the right solution to replace the Zimbabwean currency which became worthless. Although, the economy faced many challenges such as infrastructure deficiencies, large burden of external debt, and limited formal employment after dollarization, Zimbabwe’s GDP started increasing.
With credit harder to get, consumers have cut back on their spending, which is very bad for the economy since around 72% of economic activity comes from consumers (Gross 2). Retail sales dropped .4% in December, which is disturbing because usually December is the biggest month for retailers. Other factors that show the economy is slipping are that inflation was at 4.1% in December and has steadily been rising (Fox 3). In 2007, food prices rose almost 5% and gas prices rose almost 30% from the year before. Unemployment rates also went up above 5% this month, which is the highest they have been in over 2 years (Fox 3-4).
"the percentage of the population is poor in poverty causes some diseases in Sub-Saharan Africa such as, AIDS, STDs, and HIV "Within the last decade, many sub-Saharan countries have been hit by adverse trends in commodity terms of trade and external shocks such as higher oil prices, fluctuating exchange rates, and higher interest rates." "Over the last 10 years, the prices of major commodities such as copper, iron ore, sugar, ground-nuts, rubber, timber, and cotton have fallen significantly;" "Those who are unable to afford an education, or choose not to pursue optional education, generally receive much lower wages;"
Introduction Over the last two decades, the world has experienced a rapid economic growth, and many countries achieved remarkable economic growth. However, some countries are still struggling to fight against poverty. According to the Australian Agency for International Development, poverty is defined as “a level of deprivation such that a person is unable to meet minimum standards of well-being.” The poor people are unable to cover their basic need or maintain a normal healthy life, which leads to serious social problems. In the following section, I will take a close look at the poverty existing in developing countries, using Vietnam as a case study to find out who are the poor, why those people are living below the poverty line, how poverty
(tradingeconomies.com) The forecasted inflation rate for the remainder of the year is expected to be around 5.54 percent. (Tradingeconomies.com) The South African economy averages a .7 percent rise in prices on a monthly basi... ... middle of paper ... ...itage.org) South Africa’s once booming economy is on the decline as their markets struggles to gain its place in the world while their economy continues to emerge. (World book) The main macroeconomic problem that South Africa suffers from most is there difficulty in supplying jobs for many of its citizens in its country. They also suffer from a bad exchange rate on the open market, and continue to struggle to reduce their inflation rate. Works Cited Work Sited Page “9 major problems facing South Africa-and how to fix them,” (2011 July, 18).
Close to a half of the states in Africa experienced bad per capital growth rates during the period of the crisis to the 1980s. It was during this period that marked the beginning of the debt crisis. According to Donald Chimanikire, new long-term borrowings by African countries south of the Sahara increased from US $3 billion in 1976 to US $11, 5 billion in 1980 (Chimanikire,2007). This indicates that there has been an overall growth on the borrowings by African states hence the debt crisis. The state of affairs worsened very rapidly during the 1980s leading some observers and analysys to refer to the 1980s as “the lost decade.” As reported in African Development, a Comparative Perspective published by UNCTAD in 1998, “Africa ….
Kenya relies on many different jobs in order to keep their economy afloat. “Kenya’s economy suffers from a high population growth rate and rampant corruption” (Content). Kenya’s GDP reflects the ups and downs the country’s economy has been through, since the gaining of its independence. At the beginning of the country’s independence their GDP was roughly 6%, but it has continued to decrease from there. The drop in the GDP has come from different variables such as high growth rates, corruption and violence.
Poverty in Texas Poverty rates have increased more in recent years due to the economic recession. In fact, it has been within the United States for innumerable years with Texas being among the states with the highest poverty rates in the country. But what causes poverty? What are the factors that contribute to Texas’ financial stance in comparison to other States? The main causes of poverty in Texas are unemployment, unevenly distributed poverty rates, and cuts regarding government programs.
The actual number of poor families has risen from 3.81 million to 4.21 million due to population growth(WSJ). Of these people, almost half live on less than two dollars a day and around 1.2 billion live on less than one dollar a day(World Bank). Poverty can lead to many other problems like infectious diseases, abusive child labor and air pollution. Poverty has been a major problem in the Philippines for over 50 years. Major causes leading the Philippines to poverty have been natural disasters and its poor economy.
Another reason is numerous amounts of drought and flooding. But one of the main reasons that Somalia is hungry is poverty. Their per capita GDP per year is $500. Since their natural resources were destroyed by the civil war, they can’t grow sufficient food. So, the food gets transported from other countries the food prices increases every day.