Saturday, November 26, 2011

Western and other investors causing famine deaths in Africa- UN official claims

Article by Marc Aupiais

Agenzia Fides, has quoted a UN official claiming that food prices of basic goods on the international market have doubled in price in a year due to food price speculators buying securities. Food has become a market Western investors entered after the failures in the American and Western economies over weak banking regulations.

The article also quotes the British newspaper Guardian which claims that over a thousand million (US Billion) US dollars have been taken unscrupulously from poor countries in Africa, by vulture funds, which invest only in order to liquidate African firms.

The amount "stolen" through such false investment in equivalent to what the UN requested for Somali famine relief. It is twice the budget of the International Committee of the Red Cross allocated for the continental region of Africa.

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