"The Kyrgyz Rep has developed into an economic innovator in Central Asia. The country is presently a leader in extending microcredit to would-be entrepreneurs. With about 40 percent of the roughly 5 million population living either under or near the poverty line, the Kyrgyz Rep is considered a prime area for microcredit, in which loans of usually no more than several hundred dollars are extended to small groups, many of which seek to launch small businesses.

Despite political troubles, the microcredit phenomenon in the Kyrgyz Rep. continues to spread. The practice has proven so successful that for-profit entities are getting more involved. Microcredit lending has stimulated economic activity while offering steady returns for lenders."

"Much of the tuna caught, canned and eaten annually around the world comes from the Pacific. But Pacific Island governments increasingly believe they are not capturing the full economic benefits of their tuna resources. Most of the tuna caught in the Pacific are taken by purse-seine fishing, an efficient method in which a large net is set around a school of tuna and closed at the bottom to trap the fish.

Nearly all the catch of the purse seiners is used to make canned 'light meat' tuna. This is a huge industry, with a global demand for around 7 billion cans per year. Preparing tuna for canning is a labor intensive process and has become very expensive in countries with high wages."

"Since the beginning of the year, the Bank Indonesia (BI) rate has increased 75 basis points to its current level of 8.75 percent, and it is likely to rise further as the government looks to curb inflation. In line with inflationary pressure, there is a contraction of economic growth squeezing consumer purchasing power.

The pick up in interest rates has made consumers and corporations nervous about their ability to secure cheap credit facilities. Judging from past experience, lenders may be inclined to tighten their credit control to prevent ballooning non-performing loans. Indonesian banks will now focus their credit expansion on certain promising market segments, i.e. resources, agribusiness and infrastructure related industries."

"Bangladesh called for cooperation among regional countries on Tuesday to ensure food security for vulnerable people in poor nations. Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand are members of the Bay of Bengal Initiative for Multi-Sectoral Technical Economic Cooperation.

Ministers and government officials discussed strategies to alleviate poverty, such as substantially raising cereal output. Large countries such as India, Pakistan and Thailand could liberalize their markets, which would enable poor countries to increase their exports."

"Tajikistan and the Kyrgyz Republic are considered Central Asia's water powerhouses, with about 60 percent of the region's water supply originating in Tajikistan alone. But even Tajikistan is experiencing a drastic decline in water levels. Many citizens, even in Dushanbe, lack clean drinking water.

To deal with the problem, there are calls for the creation of an international consortium to develop Lake Sarez, a reservoir created by an earthquake in 1911 that now possesses an estimated 17 cubic kilometers of pure drinking water. Some experts have expressed concern about the possibility that the natural dam created by the earthquake could give way, if nothing is done to bolster it."

"Fishermen are having trouble accessing government subsidies, announced nearly four months ago to offset soaring fuel costs, because of the complicated procedures involved in applying for the aid. Under current regulations, fishing boat owners had to report their fishing activities in order to seek government assistance for their fuel costs.

As no form had been prepared to help fishermen to make such a report, most of them, who were mostly poorly educated, were struggling to meet the requirement. Most local fishermen had given their boat-related certificates to banks as collateral for loans. The banks refused to let fishermen 'borrow' these certificates to apply for government support."

"The budget for education in Pakistan, which reflects the government's commitment to human resource development, has had to bear the brunt of the economic crisis and spending has increased by a measly 7.8 percent. The education budget is less than three percent of GDP, when other countries are spending more than four or five percent.

Paltry allocation is not the only problem faced by the education sector. The entire system is marred by structural weaknesses, misuse of funds and policy failures. There is also a need to look into sensible planning and efficient utilization of funds. The quality of education must be enhanced so that those enrolling in institutions of higher education are fully equipped to deal with the rigors of academia."

"India's low-income earners, including subsistence farmers and laborers, need greater levels of government aid to pull themselves up from the 'bottom of the earnings tree,' according to a report. The economy is resilient enough to bear the cost of following such a prescription, but what is needed is political will.

More government assistance by way of employment programs, skills training and social assistance, appear to be needed to lift living standards to an acceptable level. Free, quality education for the children of low-income workers is also needed. After they complete their education, the children should also be helped to relocate to locations where there are sufficient job opportunities."

"Lifting the value-added tax (VAT) on oil would double the projected budget deficit for 2008, according to the Department of Finance. Suspending the 12-percent VAT on oil would result in a foregone revenue of P73.1 billion ($1.6 billion). The projected budget deficit for this year is P75 billion.

The suspension of the 12-percent VAT on oil also will favor only those with high incomes. Studies also show that lifting the VAT on oil will largely benefit the rich, because they are the biggest consumers of oil while most of the consumption of poor families are VAT-exempt such as agricultural food products."

"The dead have been buried or cremated and a massive effort to provide food and shelter has been launched since the May 2-3 cyclone in Myanmar. But the mental trauma affecting survivors may not be so easy to deal with, and it appears to be widespread. Some 80,000 people were killed in the storm, with another 50,000 unaccounted for.

Some 22 percent of storm-affected households reported psychological stress. Common symptoms among survivors include the inability to sleep, recurrent nightmares and flashbacks, apathy, absentmindedness and concentration problems. Some victims also experience headaches and body pains."

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