Top Economies Signal Recession May Be Easing: OECD

"Leading economies are showing fragile signs that the economic crisis driving recession in many countries may be easing or have reached a low point, the Organization for Economic Cooperation and Development (OECD) said on Monday on the basis of April data. But the damaging effects of the global crisis are still worsening in many emerging economies, the OECD said.... Countries outside the 30-member OECD group 'still face deteriorating conditions, with the exception of China and India, where tentative signs of a trough have also emerged.'..." [Agence France Presse (6/8)/Factiva]

Dow Jones adds that "...the figures continue to point to a 'possible trough' for most developed economies as a whole, with the Composite Leading Indicator (CLI) for the OECD's 30 members rising for a second straight month to 93.2 in April from 92.7 in March.... Among the large developing economies, China once again showed the clearest signs of revival, with its leading indicator rising to 94.3 from 93.4. The leading indicators for India also rose in April to 93.9 from 93.5 in the previous month. Indicators for Brazil and Russia continued to fall, however...." [Dow Jones (6/8)/Factiva]

World Bank Head: Global Growth May Resume Late '09.

"The pace of decline in the global economy is set to slow and it could see resumed growth as early as late 2009, World Bank President Robert Zoellick said on Monday....'My sense is that, while we will still have declines, the rate of the declines (in the global economy) will lessen,' Zoellick said...." [Reuters/Factiva]

EFE adds that Zoellick "...rejected the predictions of some experts that economic recovery is delayed until 2011....Zoellick said that the collapse of the world economy 'is losing its rhythm' but emphasized that the crisis is day-by-day and recognized that there continues to be financial 'uncertainty'...." [EFE/Factiva]

La Republica writes that in addition "...Zoellick said that growth in China could be better than expected thanks to government measures to stimulate demand.... [In Eastern and central Europe,] 'in the short term, the crisis will dry up foreign direct investment' Zoellick said ...." [La Republica (Colombia)/Factiva]

EBRD Seeks To Guide Ex-Soviet Bloc To Economic Recovery.

"The European Bank for Reconstruction and Development (EBRD) met Saturday to help guide crisis-hit Eastern Europe towards recovery and prevent a reversal of two decades of major economic reforms.... The bank had kicked off its two-day meeting Friday by revealing it would invest a record EUR7 billion into the embattled region by the end of this year. So far this year, it has ploughed a total of EUR2.3 billion, which is double the amount invested in the same period a year earlier...." [Agence France Presse (5/16)/Factiva]

The Observer adds that "...Eastern Europe's heady economic 'miracle' may never return, leaders from the region were warned this weekend.... EBRD President Thomas Mirow told ministers and central bankers that it would be 'unrealistic' to expect a repeat of the 'double-digit growth, record levels of investment and readily available finance', of recent years...." [The Observer (UK, 5/17)/Factiva]

Meanwhile, Reuters reports that "...calls on the EU for more direct help for its ailing eastern members and neighbors look futile and the bloc will likely continue to depend on the International Monetary Fund (IMF) to provide the main safety net.... Bankers and policymakers at this weekend's meeting of the EBRD complained that the EU's executive body and the European Central Bank should be doing more to backstop the region. [Yet] little the EU and ECB have said...indicates willingness to take a more leading role.... 'IMF funds are not enough,' Ukrainian Deputy Prime Minister Hryhory Nemyria said in an interview bemoaning greater access to cash for EU members like Hungary.... " [Reuters (5/18)/Factiva]

SOME PROGRESS IN HAITI AMID SECURITY, DEVELOPMENT DIFFICULTIES – UN TEAM

SOME PROGRESS IN HAITI AMID SECURITY, DEVELOPMENT DIFFICULTIES – UN TEAM
New York, May 14 2009 4:00PM
The challenge facing Haiti of achieving stability and economic recovery remains great, especially after a year of damaging setbacks, but the impoverished nation has seen significant progress in the last two years, the head of a United Nations team that visited the country said today.

"Last year was an extraordinarily difficult year for the country with the devastation wrought by four hurricanes, the rise in food prices and of oil prices," Ambassador John McNee of Canada told reporters at UN Headquarters in New York

But he noted that the improving security situation and the continued recruitment and training of the Haitian national police were encouraging signs for the future.

"The public opinion polls in Haiti recently suggested very considerable confidence amongst the populace in the police," stressed Mr. McNee, who led the Ad Hoc Advisory Group of the Economic and Social Council (<"http://www.un.org/ecosoc/">ECOSOC) on a four-day trip to Haiti in early May.

The group's main task was to assess progress towards economic and social development and reinforce the UN's long-term commitment to the people of Haiti, the poorest country in the Western Hemisphere.

The ECOSOC delegation also examined the procedures for the coordination of international aid to Haiti, and Mr. McNee urged donors and aid organizations to ensure their assistance is consistent with the National Strategy for Growth and Reduction of Poverty Document.

He highlighted meetings with President René Préval and Prime Minister Michèle Pierre-Louis, who he said are "determined to try and take the country forward."

A broad partnership that includes the Government and people of Haiti, the UN and all its funds and programmes, and other international partners was vital to promote recovery and stability in the country, he concluded.

"Haiti merits and needs the continued attention and engagement of the international community."
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