The U.S. Senate approved legislation to encourage canceling Haiti’s $1 billion debt to international organizations. Passed without objection, the legislation directs the Obama administration to advocate for debt cancellation before such international agencies as the International Monetary Fund.

(Business Week has the story)

The old image of an Africa doomed to get ever poorer has certainly lost credence over the past decade even if it is a view still held by some.

“The growth from the period 1995-2006, far from benefiting only the elites, has been sufficiently widely spread that both total African inequality and African within-country inequality actually declined over this period.”

(Continue reading the article in Reuters)

The Move Your Money campaign was started by American college students who formed a campaign to encourage their universities to shift their financial investments out of corporate institutions and into local community banks. Similar campaigns are ongoing in US cities such as New York and Los Angeles.

More and more Americans are abandoning corporate banks and moving their financial business to local credit unions and banks. These local institutions stimulate business activity in communities by providing loans to local businesses and offer a non-profit ethos to shareholders, which are the customers.

(READ MORE in THE ARTICLE at CBS)
Get more info about the campaign at MoveYourMoney.info

Do you remember the commencement speaker at your high school graduation? Well, this year the event will be absolutely memorable for one lucky high school class when President Obama climbs the podium to offer inspiration to the national winner of his President’s Commencement Challenge.

The White House and the Department of Education announced last week a new contest, inviting public schools across the country to “Race to the Top”, and show how they are making strides toward personal responsibility, academic excellence and college readiness.

(Right: White House photo by Pete Souza)

Interested high school students will submit a two-minute video or written essay demonstrating how their school is helping prepare students to meet the President’s 2020 goal of having the highest proportion of college graduates in the world.  Applications will be judged based on the school’s performance and dedication to providing students an excellent education that will prepare them to graduate ready for college and career choices. Apply for the Commencement Challenge here.

The Obama Administration took additional steps to address the drop-out epidemic this week, beginning with a pledge of $900 million in grants to states and education districts that agree to drastically transform or even close their worst performing schools.