AFRICA: Cotton Industry Hit By Rich Countries' Subsidies - IMF Head
Rodrigo Rato, head of the International Monetary Fund, has urged affluent countries to stop subsidies to their cotton producers in order for African countries to find a way out of poverty, French daily newspaper Le Figaro reported.
Rato said that African countries accept they must reform their cotton industries and that the IMF was prepared to provide them with loans for to help.
However, he pointed out that this cannot be achieved if global prices remain low due to the massive subsidies rich nations give to their producers.
Help test our new apparel sourcing tool.
- Rana Plaza four years on – Timeline of change
- Why collaboration is key to fashion supply chains
- Industry groups reaffirm commitment to Bangladesh
- Trump and Brexit get a dose of pragmatism
- Using worker surveys to drive supply chain change
- Adidas to digitalise Speedfactory concept
- Nike filed patent for "reinforced denim"
- M&S extends sourcing deal with Lindsey brothers
- Gap unveils five-year sustainable fibres pledge
- US Q1 in brief – Columbia Sportswear, Amazon
- Global market review of denim and jeanswear – forecasts to 2022
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Clothing Market in the Top 5 American Countries to 2021 - Market Size, Development, and Forecasts
- Outdoor performance apparel 2016: A broader perspective
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar