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Tuesday, 10 August 2004
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Developing Countries Are Investing More Overseas

Foreign investments from developing countries have grown faster over the past 15 years than those from developed countries. The UN Conference on Trade and Development (UNCTAD), says companies from Chile, Mexico and South Africa have recently shot to prominence as overseas investors. And the UN agency says other developing countries such as "Brazil, China and India are about to take off." UNCTAD spokeswoman Erica Meltzer says trade between developing countries is increasing and the same thing has happened with investment:

" ...and similarly developing country intra-regional trade has grown faster than that from developing to developed countries. Some developing countries are also now among the world's top investors and are producing some of the world's largest transnational corporations."

The UN trade agency predicts that a higher portion of foreign direct investment will originate from the developing world in the coming decade.

Panel Investigating Oil-For-Food Programme to Report By Mid-2005

An independent panel investigating the United Nations oil-for-food programme in Iraq hopes to complete the first phase of the investigation by the middle of next year. The probe is to determine whether UN personnel or agents mismanaged the execution of the programme. A report from the panel says "the allegations of misconduct and maladministration" of the oil-for-food programme, "are serious." It says the allegations "demand a full inquiry that is efficient and comprehensive, yet fair and impartial toward each individual and entity within the scope of the investigation." Former Federal Reserve Chairman Paul Volcker who heads the panel says there's a lot of work to be done and they're only at the start.

UN Supports Venezuela In Search For Democratic Solution To Political Differences: Annan

Secretary-General Kofi Annan has reiterated the commitment of the United Nations to continue supporting Venezuelans in their search for a constitutional, democratic solution to their political differences. A statement Tuesday says the Secretary-General notes that preparations for the referendum have proceeded in line with the constitutional process. United Nations spokesman Fred Eckhard says the Secretary-General reminds the Government of Venezuela and all political sectors that, when his Special Adviser visited Caracas last month, all sides committed themselves to resolving issues relating to, and deriving from, the referendum of 15 August through consultations and dialogue:

"The Secretary-General remains convinced that only thus will Venezuelans ensure a successful outcome of the referendum and prevent further polarization of their society."

The spokesman says the Secretary-General is keeping abreast of developments in Venezuela.

Sudan Authorities Force Displaced Persons Back to Unsafe Villages: UNHCR

Sudanese authorities are forcing traumatized refugees and internally displaced people to return to unsafe villages in the Darfur region. That, according to the UN refugee agency (UNHCR). UNHCR expressed concern Tuesday that the local authorities and government are continuing to put pressure on displaced people to return to villages that also do not offer any possibility of a decent life. Spokeswoman Jennifer Pagonis says this is especially so since most of the crops and homes have been destroyed by rampaging militias:

" UNHCR has consistently told the government at all levels that any movement of IDP's must be entirely voluntary because people who have already suffered the trauma of being chased from their homes by armed militiamen do not need the further trauma of another forced move."

Spokeswoman Pagonis says displaced persons are telling the agency the time is not yet right for their return home.

Shortage of Donor Funds Hampers Return of Refugees: WFP

An acute shortage of funds is seriously hampering efforts to resettle tens of thousands of Angolan refugees, some of whom fled their homes during the long civil war. The World Food Programme says it has received only $45 million out of an appeal for more than $250 million. Mike Huggins of the World Food Programme Office in Johannesburg says the agency is however coping with an ongoing repatriation programme for another 60-thousand people:

"Many of these people who are returning home have nothing. There is no clean water, there is no school, there is no health clinic and electricity remains a dream for many people …across the country."

WFP estimates that it will need a minimum of $80 million for the remainder of this year to feed more than a million Angolans who have already returned to their homes.