Last Updated : 20 April 2011 at 16:30 IST
Food price-rise sparks protests in Kenya, Uganda
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About 100 people blocked and disrupted traffic near Kenyan Parliament as the protesters found the other day’s cut in taxes of kerosene and diesel too small. Corruption is also an issue that rocks the nation, according to AP.
In Uganda, top opposition leader has led three marches over the past 10 days to protest simmering fuel and food prices.
Tear gas and bullets were fired at the protesters.
Recently, the World Bank president had advised the nations to put food first in their developmental agenda.
The Middle East and North African regions have been experiencing a surge in protests with a full-blown war developing in Libya.
The food riots in Tunisia had induced regime change there followed by regime changes in Egypt.
The Libyan crisis has added fire to the fuel prices and with fear of unrest spreading to other parts of Middle East, namely Saudi Arabia—a prominent oil supplier—the WTI prices are above the $100 limit.
The fuel prices in turn has lead to spike in food prices which in turn is fomenting uncertainty and thereby speculation in markets.This is triggering another spike in fuel prices in a show of vicious self-sustaining cycle.
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