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News
- 11-28-02 Lula Elected President of Brazil (World Press Review - Rapoza)
Provides goals of the new President of Brazil, Luiz Inácio Lula da Silva. According to Lula, "My first year will focus on combating hunger." "The program, inspired by former U.S. President Franklin Delano Roosevelt’s food stamp initiative, is expected to cost roughly US$1.5 million. Funding will come from the federal budget, half of which has already been designated to combat hunger. An estimated 46 million Brazilians eat less than 2 square meals a day, according to a government survey. The program aims to provide an additional 76 reals monthly for 20 percent of the 46 million by the end of 2003, in a country where the minimum wage is 200 reals per month."
"The markets will be watching to make sure Brazil doesn’t invest too much of its cash in projects that are unlikely to generate revenue and will increase the country’s US$288 billion public debt."
"Lula has sought to reassure investors by saying the only way Brazil would be forced to default on its debt is if it were to continue on its present economic course, which he says relies on attracting investment dollars in high-yield government bonds rather than through investment in the productive economy."
- 11-28-02 Zimbabwe Faces Starvation of Millions (BBC News)
" 'We are approaching the very worst period of the crisis, when 6.7 million Zimbabweans will need food aid and yet WFP does not even have the resources to meet our target of three million beneficiaries in November,' " according to the United Nation's World Food Programme (WFP).
" 'It is an extremely serious situation and it is only going to get worse,' " said Kevin Farrell, WFP representative in Zimbabwe." " 'We will all have to work non-stop over the coming months if we are to prevent millions of people from starving in Zimbabwe.' "
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