Thursday, October 7, 2010

From Creamer Media in Johannesburg, I'm Brad Dubbelman.

Making headlines:

Congress of South African Trade Unions (Cosatu) secretary-general Zwelinzima Vavi called on Wednesday for the creation of a single public sector union.
Speaking at the South African Democratic Teachers Union (Sadtu) congress in Boksburg, Vavi said that "the overriding lesson from [the suspended public sector] strike, is the urgent need to create a single public sector union that will have specialised units for all the professions in the public service." He urged Sadtu to ensure that a unified education sector union is part of their discussions. "It will be in our best interests to push for unity," he said.
Vavi added that the tripartite alliance was left "unsatisfied" by the African National Congress (ANC) national general council's position on the strategic centre of power. "Cosatu has never questioned the role of the ANC as the leader of the alliance and as a centre of power on its own, but it is mischievous and contradictory to argue that the alliance, which has the ANC at its helm, is not in itself a strategic political centre of power," he said.

The World Bank believes that the rapid return to growth of African economies following the financial and economic crises of 2008 and 2009, is indicative of sound policy choices made by African leaders. The bank, therefore, continues to forecast that the continent will be among the fastest-growing territories in 2010, recovering to a growth rate of 4,9%. Growth is expected to return to 5% in 2011 and 2012, slightly below the levels of around 6% that were enjoyed for the three years preceding the financial meltdown.
Speaking to African journalists in 32 countries via a video link from Washington DC, vice-president for the Africa region Obiageli Ezekwesili applauded the policy actions taken by African governments. By sticking with reforms through the crisis, despite some painful consequences, the "private sector is increasingly looking to the continent as a credible investment destination," she said.
It is, however, important to focus on policy choices that will galvanise further growth, which is a "necessary condition" for poverty reduction.

Emerging economies are set to grow nearly three times faster than rich nations next year, as the fragile global recovery loses a step, the International Monetary Fund (IMF) said on Wednesday.
According to the IMF's World Economic Outlook report, China will be a driver of growth in many economies, especially commodity-exporting nations, but the developed world faces "subdued" prospects. The global recovery remains fragile, because policies are not yet in place to allow for a smooth transition from public support to private demand.
The IMF predicts that growth in emerging market countries will slow to 6,4% in 2011, from 7,1% this year. In contrast, the IMF sees advanced economies expanding just 2,2% next year, a slowdown from the 2,7% it expects in 2010.

Also making headlines:

Kenya names a judge to help gather evidence for an international probe into deadly clashes after its 2007 election, after International Criminal Court prosecutor Luis Moreno-Ocampo vowed to issue arrest warrants for up to six people by the end of this year.
Ugandan President Yoweri Museveni says that the United Nations Security Council is considering a proposal to raise more funding for an expanded African Union peacekeeping mission in Somalia.
According to the latest TNS Research Surveys poll, South African President Jacob Zuma's approval level in metro areas dropped to a new low of 42% in the third quarter.
And, Egyptian Finance Minister and International Monetary Fund (IMF) steering panel chair Youssef Boutros-Ghali says that the IMF cannot be an effective forum for addressing tough global issues unless emerging markets feel that their voices are heard.

That's a roundup of news making headlines today.