World Politics News   Articles for World Politics Course

The human cost of the Ebola virus outbreak in West Africa has been horrific.  There is also a huge economic cost that will be borne by the people of the region.  The African Development Bank estimates that the GDP of the region may fall by as much as 4% due to the dislocations and costs of the outbreak.  Foreign investors are pulling their people out of the area and workers are refusing to go to work out of fear that the virus is spreading.   And the international response to the crisis has been pathetic.  There is no way these countries can afford to spend the money necessary to respond adequately to the crisis.  The only group that has mounted an effective response is the non-governmental agency, Medecins Sans Frontiers.

Russian President Putin and Ukrainian President Poroshenko met and discussed the possibility of a cease-fire in the eastern regions of Ukraine.  If a cease-fire were to be announced, that outcome would be a victory for President Putin since the cease-fire would allow the Russian separatists to regroup and resupply.  As it turns out, the meeting was nothing more than a ploy.  While it was going on, Russian regular soldiers were crossing the border and fighting the Ukrainian Army.  In short, the Russians have invaded Ukraine.  Russia explained that those Russian soldiers that were captured by Ukrainian forces had simply gotten lost.  In response, the Canadian delegation to NATO tweeted the map below to Russia.  At least the Canadians have a sense of humor.

Argentina is desperately trying to avoid paying the hedge funds who are demanding full payment for bonds for which other bondholders have accepted partial payment.  According to a New York Court, Argentina has been ordered not to pay anyone unless an agreement is first reached with the hedge funds. Argentina simply does not have the money to repay the full value of the bonds, so it is attempting to change the legal status of the bonds so that they will be governed by Argentinian law and not US law–in effect, trying to avoid the New York court order.   The maneuvers have created a confidence crisis of foreign investors in Argentina, and the crisis has led to a rapid plunge in the value of the Argentine Peso.  Economic turmoil is spreading throughout the country as a consequence and the country is facing a nation-wide strike.