Showing posts with label economic crisis. Show all posts
Showing posts with label economic crisis. Show all posts

Tuesday, March 17, 2009

World Bank appeals for water investment

ISTANBUL - The global economic crisis threatens to shrink investment in water infrastructure, an already underfunded sector vital to growth and public health, the World Bank said Tuesday

The first global economic contraction since World War II threatens to overshadow the scarcity of clean water in many poor regions, where inadequate sanitation is a major cause of deadly disease and a drag on economic development. The United Nations says the total cost of replacing aging water supply and sanitation infrastructure in industrial countries could be as high as $200 billion per year.

Jamal Saghir, director of energy, transport and water at the World Bank, said there were not significant funds earmarked for water investment in the stimulus packages of the United States and other countries fighting the economic meltdown. He appealed for greater efficiency in water management.

"We can do more with the same or even less," he said in an address to a packed auditorium at the World Water Forum, a weeklong global conference that is held every three years to issue recommendations on how governments should conserve, manage and supply water. It ends March 22.

Thousands of delegates from governments, nonprofit groups, businesses and other institutions have gathered for the conference, which is being held in a converted slaughterhouse on the banks of the Golden Horn inlet in Turkey's biggest city. Waste, sanitation, climate change and a debate over privatization and government policies on water are key topics.

Some experts estimate that most of the world's population will face water shortages in the decades ahead as populations expand and ecosystems deteriorate. The International Union for Conservation of Nature, an environmental network based near Geneva, said increasing demand requires effective laws to sustain the resource.

"Water laws must seek a workable balance between the water rights of business users and people who have traditional livelihoods," said Alejandro Iza, director of the union's environmental law center. "Without this, the costs to the economy and damage to the environment can be very high."

The union said poor water and sanitation services have sapped an estimated 1 percent of GDP in Colombia and 1.4 percent in Bangladesh through environmental and health deterioration. It cited South Africa as an example of how to do things the right way; there, laws guarantee a basic water supply, protect water-based ecosystems and allow people a say in how the resource is used at the community level.

Two activists from California-based International Rivers were detained and escorted Tuesday to the airport for deportation after demonstrating at the opening ceremony, the group said. Ann-Kathrin Schneider of Germany and Payal Parekh, a U.S. citizen, unfurled a banner and shouted slogans to protest the construction of dams that they say destroy communities and the environment.

Some activists have said the forum helps big water companies to promote their own interests at the expense of the needy. But Caroline Boin of the International Policy Center, a London-based research center, said less than 5 percent of global water management is private and that the "real culprits" are governments that encourage waste by allocating water to special interests and other political allies.

Wednesday, February 18, 2009

SWEAR TO SURVIVE 2009

In the wake of a financial meltdown, five oaths for staying afloat.

As the new year begins with the world in recession, raise your right hand and solemnly swear to:

Oath #1. SPEND ONLY ON ESSENTIALS --------> for the next three to six months, forego all luxuries. if not having something wont physically kill you, you can live without it. Make a detailed monthly spending forecast for the year and see which expenses can be deferred, eliminated, or submitted with something cheaper. build up your emergency fund in your company decides to cut jobs due to the economic slowdown.

Oath #2 PRE-TERMINATE DEBT---------> with capital markets still wobly, it may be better to use your extra cash (exceding your emerncy fund) to reduce debt instead of staying invested. as long as your debt was used to purchase something that appereciates in value-such as highly marketable real estate bought at a low price - pre-paying debt in not money out the window but actually a good investment. you'll save on interest payments, and the value of the cash your property's market value goes up.

Oath #3 PICK UP INVESTMENT BARGAINS -----> if you are cash-rich abd debt-free. dont waste this once in-a-lifetime opportunity to invest in good mutual funds and stoscks at prices that have been artificially driven down by the contagion. quality cars, condos, art, and jewelry are also being sold fire sale prices in the secondary market, so now is an excellent time to go into acquisition mode if your cash hoard can withstand they cyclical dips of the economy.

Oath #4 PRUNE YOUR PORTFOLIO -------> Accepting defeat is never easy, especially where life savings are concerned. anyone who invested in anything more than time deposits most likely lost some money in the carnage that began in October. should you cut your losses or hand on the hope of recovery? the answer depends on what your alternatives are. is there debt you can pay down with whats left of your funds? are there safer in investments you can switch to that generate reasonable yields? if recovery takes a long time can you afford to wait? bear in mind that once the value of your investment has slipped significaly below acquisition cost, its an uphill climb from there - unless recovery is really dramatic, any gains you realize in the future will simply bring you back to where you started.

Oath #5 NEVER TRADE PEACE OF MIND FOR MONEY -------> one good thing that can come our for the economic crisis is the chance to regain a more balanced attitude towards money. with credit taps tigher and "easy" investment gains more unpredictable, it is easier to appreciate the basics. the high-flying life may be gone for a while, but peace of mind is still life's greatest luxury and that is something you can always have for free.

from this moment,i will appy this into my spending habbit. hahahaha