Tsunami Areas May Not Need New World Bank, IMF Loans
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As the World Bank and International  Monetary Fund assess economic costs to South Asian governments  of the cataclysmic tsunami, the current outpouring of aid could  mean international lenders won't need to step in with new  loans, economists said on Tuesday.
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It sounds insignificant alongside the Indian Ocean tsunami, yet an almost imperceptible annual rise in the world's oceans may pose a huge threat to ports, coasts and islands by 2100.
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The major obstacles to creating an  early-warning system that could have saved many victims of  Asia's massive tsunami are not money and technology, but  poverty and political and cultural division besetting the  region it hit, experts and officials said on Monday.
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International organisation and countries are poring in relief and over $500 million have already been pledged. This includes $250 million for tsunami relief offered by the World Bank on Thursday.
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The direction of plate movements that sparked quakes off Indonesia&#39;s Sumatra spared the coast from damaging tsunamis, while geology and awareness may have reduced the damage, an expert said Thursday.
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As rescue efforts swung into high gear in areas devastated by tidal waves around the Indian Ocean, economists said the impacton most of the regionâs economies was unlikely to be severe despite the stunning human cost of the tragedy.
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The United States will help the  millions devastated by the Indian Ocean tsunami, but an effort  on the scale of the post-World War II Marshall Plan is probably  not needed, Secretary of State Colin Powell said on Tuesday.
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Local communities are often better at dealing with the effects of natural disasters than international aid agencies, a new report says.
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The Asian Development Bank (ADB) said on  Friday it had made available up to $325 million in emergency  lending for tsunami relief efforts in Indonesia, Sri Lanka and  Maldives. The Manila-based lending institution said about $175  million could be diverted from existing projects in the three  countries, while up to $150 million in new low-cost loans could  be drawn.
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Political leaders and aid agencies are pleading with governments and individuals around the world not to skimp on donations to Africa as they open their wallets to tsunami victims in south and southeast Asia.
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LONDON, Jan 6 (IPS) - World leaders need to cancel debts of poor tsunami-   hit countries rather than just freeze them for now, leading  campaigners  say.
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The Bush Administration said on  Wednesday tsunami-hit countries that want long-term debt relief  would have to choose between that and other U.S. aid.
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Losses for the global insurance industry from the devastating earthquake and tsunami waves in Southeast Asia are likely to be sharply below claims from the hurricanes in Florida earlier this year, as the ...
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The United States will help the millions devastated by the Indian Ocean tsunami, but an effort on the scale of the post-World War II Marshall Plan is probably not needed, Secretary of State Colin Powell said on Tuesday.
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European insurers face new costs and travel firms could lose business after tsunami waves killed more than 21,500 in Asia this weekend, but the financial impact is expected to be limited compared with other ...
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European insurers face new costs and  travel firms could lose business after tsunami waves killed  more than 21,500 in Asia this weekend, but the financial impact  is expected to be limited compared with other disasters this  year.
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LONDON: The world's rich industrialised nations stepped up their efforts yesterday to help Asian countries devastated by the tsunami by offering to freeze billions of dollars in debt repayments.