The news roundup for this week is mostly somber, with financial woes, health concerns, and dying elephants making the headlines.
Vietnam Risks Biggest East Asia IMF Rescue Since 1990s
After a series of banking scandals rattled the Vietnamese financial sector, Bloomberg reports that Vietnam “may need IMF aid to recapitalize banks and must act quickly to clean up bad debt or risk ‘prolonged stagnation’…The financial system needs an injection of 250 trillion dong ($12 billion) to 300 trillion dong, according to the 298-page report that included recommendations to address economic risks.”
Update: The Wall Street Journal reports that Vietnam has disputed rumors of its seeking an IMF loan. Representatives from the IMF have confirmed this.
Finnish Government Releases Anti-Corruption Handbook for Development Practitioners
With the goal of clamping down on corrupt practices, the Finnish Ministry for Foreign Affairs has released a handbook with best practices on how to detect, prevent, and deal with corruption in aid and development work. The guide is over 200 pages long and includes information on handling corruption in humanitarian assistance, aid for trade and private sector development, gender equality, and rule of law and human rights.
The Ireland-Vietnam Blood Borne Virus Initiative (IVVI) has received accreditation from the World Health Organization. As stated in the press release, Vietnam is a country,”wracked by blood-borne viruses such as HIV and Hepatitis.” IVVI’s role is to carry out disease prevention and health promotion.
The Slaughter of Elephants in Vietnam Is Nearly Complete
Months after the World Wildlife Federation released its report on animal poaching, citing Vietnam as one the world’s biggest offenders, the media has been populated with stories of Asian demand for ivory and its impact on the elephant population. Yesterday, a post from the International Herald Tribune reports that the elephant population in Vietnam has dwindled to just a few dozen, down from thousands. Frank Momberg, the program manager for the conservation group Fauna and Flora International, told writer Mark McDonald, “The elephants are facing extinction in Vietnam.”
Vietnam Hit by ‘highly-toxic’ Bird Flu
Vietnam’s bird flu troubles continue. Reports have emerged that a highly toxic strain of bird flu has surfaced and is fast spreading. Six provinces and 180,000 birds have been affected.
According to the World Health Organisation, Vietnam has recorded one of the highest numbers of fatalities from bird flu in southeast Asia, with at least 59 deaths since 2003.
Photo by Flickr user Arian Zwegers (Creative Commons)