Aid offered in food crisis

The Inter-American Development Bank on Tuesday announced a $500 million line of credit for Central America in hopes of heading off food-price unrest.

Wednesday, May 28, 2008

Trying to get ahead of potential unrest because of rising food and energy prices, the Inter-American Development Bank on Tuesday announced a new $500 million line of credit for six Central American nations and the Dominican Republic.
The announcement came on the heels of several emergency measures taken by Mexico and other Latin American nations to ensure that anger over rising food prices does not spill onto streets and perhaps send a new wave of immigrants northward.

More on this topic

Food Crisis due to Prices

February 2011

Corn shortage is adding to the already existing shortage of bean. Escalating international prices are threatening millions of poor Central Americans.

January global data shows that food prices continue to rise and are already surpassing the 2008 prices.

And while the Central American economies are benefiting in part by the increase, for example by increasing revenues from coffee and sugar exports, they have not secured supply of basic traditional consumer products such as wheat, corn and beans; the basic foods of poor population. The already high prices are worsened by poor harvests due to bad weather.

$48.6 million for Honduras road network

October 2008

World Bank vice president for Latin America, Pamela Cox, and the Honduran Minister of Finance , Rebeca Santos, signed two credit agreements for a total of $58.6 million.

According to Rebeca Santos, the first loan for $10 million is in line with the Bank's strategy of supporting international efforts to overcome the world food crisis.

Panama won't increase its IDB debt

June 2008

A spokesman for the International Development Bank (IDB), Marcelo Antinori, says Panama is unlikely to accept a 500-million-dollar line of credit.

The IDB is offering this line of credit to Latin American countries to mitigate the social and economic effects of the food crisis.

Guatemala presents measures to rein in prices rises

May 2008

Alvaro Colom, the Guatemalan president, announced measures to soften the blow of increases in fuel and food prices.

Colom said the increases had given his government little room for maneuver but he said he would seek accords with industry to keep their prices under control. Producers of vegetable oil, flour and chicken have already agreed to back the measures.

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