The 2004 state of Economic Report indicates that major producers in the textiles sectors were crippled by strikes. The report released by the Institute of Statistical Social and Economic Research said this compounded the limitation of access to credit and smuggling activities of foreign exporters.
Nigeria and South Africa yesterday in Johannesburg, warned that rising crude oil prices posed a major threat to on-going global efforts to alleviate poverty in third world countries, particularly Africa.
The United States has reached out to Kenya and other influential African nations to save the stalled global trade negotiations ahead of the December ministerial meeting of the World Trade Organisation (WTO).
Five years ago, at the start of the new millennium, the world's governments united to make a remarkable promise to the victims of global poverty. Meeting at the United Nations, they signed the Millennium Declaration a solemn pledge "to free our fellow men, women and children from the abject and dehumanizing conditions of extreme poverty".
Zimbabwe has made a surprise $120m payment to the International Monetary Fund (IMF) in a bid to stave off expulsion from the international lending institution. "Zimbabwe has managed to pay $120m to the IMF out of its own resources as part of efforts aimed at servicing its international debt," Zimbabwean state television said last night.