Last month, the government of Italy and UNESCO, the United Nations’ cultural agency, signed two agreements that aim to protect cultural heritage in conflict areas. One of these agreements will lead to the creation of a training center in Turin. The other agreement formalized the Italian government’s intent to create a task force, supported by UNESCO, for dealing with and safeguarding cultural property and heritage during times of crisis. According to UNESCO’s director-general, Irina Bokova, this so-called United for Heritage task force would bring together cultural heritage experts and members of Italy’s national police, the Carabinieri, which have a long […]
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Editor’s note: This article is part of an ongoing WPR series on the impact of falling oil and commodities prices on resource-exporting countries. Plunging oil prices have put Iraq in an economic bind, and according to The New York Times, “much tougher economic times are ahead.” In an email interview, Frank Gunter, a professor of economics at Lehigh University and author of “Political Economy of Iraq: Restoring Balance in a Post-Conflict Society,” discussed the impact on Iraq of low oil prices. WPR: How important is oil for Iraq’s economy and government revenues, and what impact have falling oil prices had […]
“We’re all in this together,” said Ali al-Naimi, Saudi Arabia’s veteran oil minister, at an oil conference in Houston last week. The oil market “could drown in oversupply,” as the International Energy Agency (IEA) warned in January, and global prices are at their lowest level since 2003, so all petrostates are bleeding. Venezuela is on the brink of bankruptcy; Russia’s economy is expected to shrink for the second year in a row; and Nigeria and Azerbaijan are seeking emergency loans from the World Bank and the International Monetary Fund. The economic hardship experienced by its members makes one wonder why […]