Friday Morning Coffee

Matthew Cordell - April 18, 2008 - 10:53 am

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>>South Africa - Thousands of South Africans took to the streets of Johannesburg to protest the rise in food prices, which have increased by around 14 percent. This protest follows similar demonstrations in Haiti and Indonesia. Wheat prices worldwide have risen 140 percent, while rice prices have increased by 75 percent, mainly due to the skyrocketing cost of oil and the dramatic increase in the global middle class.

>>Russia - Russia has agreed to cancel $4.5 billion of Libya's debt, accrued during the cold war when it was importing Soviet weaponry, in exchange for deals on energy cooperation and military assistance. Russia also agreed to help Libya construct a 310-mile rail line. Russia's state-owned Gazprom will now undertake large-scale production and exploration projects in Libya.

>>Burundi - Bujumbura was shelled by the rebel National Liberation Front overnight, causing the government to launch a counter-offensive. The nation is still recovering from a 13-year civil war, sparked by the assassination of the first democratically elected president. All rebel groups have signed a peace agreement except the FNL.

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