Key Quotes - Money

Key Quotes - Money

A world perspective in bite-size chunks
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Last update: Friday 18th October
 
Some facts on Africa's Third World debt:
Today, Africa's external debt stands at a staggering $333 billion.
African nations pay 1.51 in debt service for every $1 received in aid.
African nations have paid their debt three times over in the past ten years alone, yet they are three times as indebted as they were ten years ago.
African countries are paying more on debt service than on health care for their people, regardless of debt relief- the average spending per person on debt service is 14 per person, while the average spending on health is less than $5 per person.
External debt per capita for sub-Saharan Africa - not including South Africa - is $365, while GNP per capita is just $308.
If governments invested in human developments rather than debt payments, an estimated three million children would live beyond their fifth birthday and a million cases of malnutrition would be avoided.
MoneyScottis Catholic Observer - 5th March 2004
 
In the Democratic Republic of Congo (DRC) 40 per cent of the country's revenues are used to service its debts to rich Western creditors even though these resources are badly needed for health, education and restructuring. Only by cancelling the debt can the country start a journey towards recovery.
Currently the British Government gives just over 0.3 per cent of its gross domestic product (GDP) in aid. It has pledged to increase that figure to 0.7 per cent. SCIAF is calling for a timetable to be set for this change.
MoneyScottish Catholic Observer - 5th March 2004
 
A report funded by Oxfam titled Hard Times stated: Peak District farmers... earn just 7,482 per annum and work on average 58 hours a week... they earn about 2.50 an hour, which is almost 2 below the legal minimum hourly wage level.
MoneySalvationist - 20th March 2004
 
illions of tea producers not selling to the Fairtrade market are currently being hit hard by the huge fall in tea prices - almost half in real terms - since the 1970's. The Times of India recently reported that hundreds of thousands of jobs have been lost due to a 22 per cent price plunge.
MoneyEnough - Issue 6 2004
 
At a factory in Southern India, twelve year old Raj is forced to work, closing the ends of cigarettes. An average day lasts 15 hours, starting at 6am and finishing at 9pm. An average working week is six days. He gets two five minute breaks a day, if he is lucky. His pay depends on the number of cigarette ends he closes - the goal being 3,000 a day. His family is meant to use this to repay a moneylender's loan. But Raj's wages are so low (approximately 30 pence a day), and the interest charged on the loan is so exorbitant, that he has no hope of ever clearing the outstanding debt.
MoneyEnough - Issue 6 2004
 
Nearly half of the country's workforce of 3.9 million people earn less than 7,500 a year, while the number of people earning in excess of 40,000 has leaped by 70,000, from 140,000 in 1996.
The figures, gathered from data collected in the 2001 census, have been condemned by Mr Slack who said they "shamed our nation".
MoneyBaptist Times - February 26th 2004
 
The cost of the average wedding in the UK has increased 29% since 2001 to 17,739, according to a survey. Honeymoon costs have risen 5% over the same period to 3,571, with the hottest destinations being Asia and the Far East, according to the brides magazine.
MoneyThe Sentinel, Feb 24th 2004.
 
Up to a million older unemployed people could be in jobs, adding up to 30bn to the UK's economic output.Age Concern said people aged over 50 had the potential to increase the UK's economic wealth.
MoneyThe Sentinel,10th Febuary 2004.
 
Today's teenagers are given 258 million a year in allowances and pocket money. A survey by the Royal Bank of Scotland claims they have a poor grasp of basic money issues. Financial expert Caroline Speirs argues that cash matters should be part of the school curriculum.
MoneyThe Sentinel,10th Febuary 2004.
 
Camelot has said around 375m will be taken from the Lottery's good causes fund to pay for the cost of the 2012 Olympics if London wins the right to stage the games.
MoneyBaptist Times,Jan 29th, 2004.
 
One in five young people has a bank loan by the age of 18, and 76% of 16-34 year olds said they thought it 'inevitable' that people will get into dept according to credit union.
MoneyThe Church of England Newspaper,Jan 29th 2004.
 
There is about 200 times more gold in the world's oceans than has been mined in our entire history.
MoneyJust Right, Issue 9.
 
On average people in Britain will spend 868 on Christmas this year. People living in Scotland are expected to spend 414 on presents alone while we will on average be expected to spend around 180 just on food and drink.
In Malawi a child can be fed meals every day for a year in school for 5, yet thousands are malnourished.
I read recently that last year the average person in the UK spent 15 hours looking for christmas gifts, made five separate shopping trips, walked 20 miles in their quest and spent two hours queuing to pay.
In poor parts of India, women spend three hours a day on fetching only water. In Africa, each year 40 billion working hours are spent collecting water. Around the world, a child dies every 15 seconds from diseases related to a lack of access to safe water and sanitation.
MoneyScottish Catholic Observer, 19th Dec 2003.
 
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