Can the mining industry brighten Congo’s economy? Possibly, says NPR’s Gwen Thompkins. The corrupt dictatorship of Mobutu Sese Seko and years of civil war have all but destroyed the economy of the Democratic Republic of the Congo. While political stability has increased since the DRC held its first free elections in 2006, weak infrastructure and continued regional violence still hinder any kind of substantial economic growth.

In the past, the profits gained from the country’s vast mineral resources have largely gone into the pockets of middlemen and corrupt government officials, with little benefit to the average Congolese. Yet the DRC sits atop what remain the world’s largest reserves of copper, tantalum, and coltan – minerals that are used in everything from cell phones to jet engines. Investors are showing increased interest in gaining access to these minerals: state-owned China Railway Group is set to fund $2.9 billion joint investment project in partnership with Gecamines, the DRC's state mining company. If carried out correctly, the excavation and sale of mineral resources could jumpstart the DRC’s economy and help get it back on its feet.

Could mining boost DRC's economy? Photo: FredR (flickr)

The Federal Reserve cut interest rates again on Wednesday in an attempt to stimulate the domestic economy. While the combined impact of another rate cut and the impending arrival of stimulus checks in taxpayers' bank accounts may bode well for American retailers, the rate cut may also exacerbate the global food crisis.

That same day, Soledad Requena was one of 1,000 women banging pots and pans outside Peru's Congress, protesting soaring food prices. If the government can't increase subsidies on products like rice, bread and meat, she asked, "Where will we go to eat?"

How does cutting short term interest rates effect international food prices? Read more...