Uncertainty looms large over end to US crisis

October 16, 2013

US_crisis

Washington, Oct 16: The US is appearing to be headed towards a financial default, which economist warned will have cascading impact on the global economy, as the Congress failed to make a headway in impasse over raising the country's debt ceiling before the deadline of October 17.

Less than 50 hours left before the US has any money to pay its bill, a glommy picture of default looms over the horizon of US history, but for a last minute compromise between the stubborn Republicans leadership and a determined US President Barack Obama, who is not going to give way to what he claims “ransom from the opposition lawmakers”.

“The idea that we're going to send a signal to the world that it's an acceptable proposition – this is what some Republicans on Capitol Hill seem to be conveying – that we can cross that threshold and just hope that we can resolve this before we have to delay a payment, already, once you get to that deadline, you've entered territory that we've never entered before.

“And that sends a signal I think globally that there is uncertainty about the fidelity here in the United States to the principle that we always pay our bills on time,” the White House Press Secretary, Jay Carney, said.

“That is why this line has never been crossed, why administration after administration, both Democratic and Republican, has taken the position that we should never cross this line.

“It's why businessmen and women, CEOs who understand the impact that this would have on what they do and on the American economy have called on Congress to quit even flirting with the prospect of default,” he argued.

Craney said the US is the largest economy in the world and it has a lot of obligations which exceeds its income.

“And that is why we have to ensure that Treasury is able to borrow in order to pay our bills,” he said while justifying the massive borrowing by the US Government.

“We're still optimistic that there is a path to lift the debt ceiling in time. We're pleased with the work done thus far. But we've heard of the bipartisan legislation being prepared in the United States Senate,” the House Democratic Leader, Nancy Pelosi, told reporters after a group of Democratic lawmakers met Obama at the White House.

“We're disappointed that the House Republicans decided to sabotage or at least delay what was happening there, but are hopeful – everybody knows that time is of the essence and that if the Republicans want to put up a bill, they should do it soon.

“But they have to know if it is as it has been described, that they'll have to do that with 100 per cent Republican votes,” she said.

“We now have forty-eight hours to make sure that our country remains solvent and paying its debts – and to make sure that our workers get back to work on behalf of the American people,” said the House Democratic Whip Steny Hoyer.

Meanwhile, late yesterday night the House Republicans withdrew their latest bill to raise the debt ceiling and reopen the government because of objections from rank-and-file conservatives.

As this happened, the Senate Majority Leader Harry Reid and the Senate Minority Leader Mitch McConnell resumed negotiating on a new deal to avert a debt default and reopen the government. Media reports said they were nearing the deal.

But this needs to be approved by the House.

Under the plan, a $986 billion government funding bill would reopen federal agencies until January 15, and the debt ceiling would be lifted until February 7.

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News Network
May 27,2020

Geneva, May 27: The number of confirmed cases of COVID-19 worldwide has increased by nearly 100,000 over the past 24 hours to surpass 5.4 million, the World Health Organisation (WHO) said.

According to the WHO, the global case tally currently stands at 5,404,512 -- a rise by 99,780 over the past day.

The death count worldwide amounts to 343,514 -- an increase by 1,486.

Most cases of infection are recorded in the Americas -- 2,454,452, with 143,739 deaths.

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May 14,2020

May 14: The UN’s children agency has warned that an additional 6,000 children could die daily from preventable causes over the next six months as the COVID-19 pandemic weakens the health systems and disrupts routine services, the first time that the number of children dying before their fifth birthday could increase worldwide in decades.

As the coronavirus outbreak enters its fifth month, the UN Children’s Fund (UNICEF) requested USD 1.6 billion to support its humanitarian response for children impacted by the pandemic.

The health crisis is “quickly becoming a child rights crisis. And without urgent action, a further 6,000 under-fives could die each day,” it said.

With a dramatic increase in the costs of supplies, shipment and care, the agency appeal is up from a USD 651.6 million request made in late March – reflecting the devastating socioeconomic consequences of the disease and families’ rising needs.

"Schools are closed, parents are out of work and families are under strain," UNICEF Executive Director Henrietta Fore said on Tuesday.

 “As we reimagine what a post-COVID world would look like, these funds will help us respond to the crisis, recover from its aftermath, and protect children from its knock-on effects.”

The estimate of the 6,000 additional deaths from preventable causes over the next six months is based on an analysis by researchers from the Johns Hopkins Bloomberg School of Public Health, published on Wednesday in the Lancet Global Health Journal.

UNICEF said it was based on the worst of three scenarios analysing 118 low and middle-income countries, estimating that an additional 1.2 million deaths could occur in just the next six months, due to reductions in routine health coverage, and an increase in so-called child wasting.

Around 56,700 more maternal deaths could also occur in just six months, in addition to the 144,000 likely deaths across the same group of countries. The worst case scenario, of children dying before their fifth birthdays, would represent an increase "for the first time in decades,” Fore said.

"We must not let mothers and children become collateral damage in the fight against the virus. And we must not let decades of progress on reducing preventable child and maternal deaths, be lost,” she said.

Access to essential services, like routine immunisation, has already been compromised for hundreds of millions of children and threatens a significant increase in child mortality.

According to a UNICEF analysis, some 77 per cent of children under the age of 18 worldwide are living in one of 132 countries with COVID-19 movement restrictions.

The UN agency also spotlighted that the mental health and psychosocial impact of restricted movement, school closures and subsequent isolation are likely to intensify already high levels of stress, especially for vulnerable youth.

At the same time, they maintained that children living under restricted movement and socio-economic decline are in greater jeopardy of violence and neglect. Girls and women are at increased risk of sexual and gender-based violence.

The UNICEF pointed out that in many cases, refugee, migrant and internally displaced children are experiencing reduced access to protection and services while being increasingly exposed to xenophobia and discrimination.

“We have seen what the pandemic is doing to countries with developed health systems and we are concerned about what it would do to countries with weaker systems and fewer available resources,” Fore said.

In countries suffering from humanitarian crises, UNICEF is working to prevent transmission and mitigate the collateral impacts on children, women and vulnerable populations – with a special focus on access to health, nutrition, water and sanitation, education and protection.

To date, the UN agency said it has received USD 215 million to support its pandemic response, and additional funding will help build upon already-achieved results.

Within its response, UNICEF has reached more than 1.67 billion people with COVID-19 prevention messaging around hand washing and cough and sneeze hygiene; over 12 million with critical water, sanitation and hygiene supplies; and nearly 80 million children with distance or home-based learning.

The UN agency has also shipped to 52 countries, more than 6.6 million gloves, 1.3 million surgical masks, 428,000 N95 respirators and 34,500 COVID-19 diagnostic tests, among other items.

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June 25,2020

London, Jun 25: British Prime Minister Boris Johnson has called on India and China to engage in dialogue to sort out their border issues as he described the escalation in eastern Ladakh as "a very serious and worrying situation" which the UK is closely monitoring.

The first official statement of Mr Johnson came during his weekly Prime Minister's Questions (PMQs) in the House of Commons on Wednesday.

Responding to Conservative Party MP Flick Drummond on the implications for British interests of a dispute between a "Commonwealth member and the world's largest democracy on the one side, and a state that challenges our notion of democracy on the other," he described the escalation in eastern Ladakh as "a very serious and worrying situation", which the UK is "monitoring closely".

"Perhaps the best thing I can say... is that we are encouraging both parties to engage in dialogue on the issues on the border and sort it out between them," the Prime Minister said.

In a statement in New Delhi on Wednesday, the Ministry of External Affairs (MEA) said India and China have agreed that expeditious implementation of the previously agreed understanding on disengagement of troops from standoff points in eastern Ladakh would help ensure peace and tranquillity in the border areas.

During the diplomatic talks between India and China, the situation in the region was discussed in detail and the Indian side conveyed its concerns over the violent face-off in Galwan Valley on June 15. Twenty Indian Army personnel were killed in the clash. There were reports of several casualties for the Chinese army too, but China hasn't declared any official number yet.

The talks were held in the midst of escalating tension between the two countries following the violent clashes in Galwan Valley on June 15.

The Indian and Chinese armies are engaged in the standoff in Pangong Tso, Galwan Valley, Demchok and Daulat Beg Oldie in eastern Ladakh. A sizable number of Chinese Army personnel even transgressed into the Indian side of the Line of Actual Control in several areas including Pangong Tso.

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