Ethiopia: Government and partners launch the mid-year review of Humanitarian Requirements Document (HRD) for 2016 (12.08.2016)

UN Ethiopia 12.08.2016

Chiyangwa Dishes Secrets On Grabbing Cash Business Opportunities – Don’t wait on Mugabe (Youtube-Clip)

https://www.youtube.com/watch?v=73HgDl7wuh0

Rwanda Laptop: Education project aims to revolutionize economy, Fidelis Mbah reports (Youtube-Clip)

Death toll unclear but even one death is one too many says Ethiopia’s Communication Minister (Youtube-Clip)

“Rights lobby group Amnesty International claims that at least 30 people have been killed in Ethiopia’s Amhara region and another 67 in Oromo — all by government security forces, during the protests. CCTV spoke to Ethiopia’s Communication Minister, Getachew Reda, who claims the reported death toll is an exaggeration” (CCTV Africa, 2016).

Communique of the Peace and Security Council PSC of the African Union AU at its 616th meeting on the situation in South Sudan (11.08.2016)

AU PSC 11.08.2016 P1AU PSC 11.08.2016 P2AU PSC 11.08.2016 P3

Opinion: Zimbabwe bond-notes add debt to the Republic of Zimbabwe; also worry about the possible inflation rate!

zim-bond-coins-2014

There been demonstrations in August 2016 on the current case of making bond notes in Zimbabwe as the economy and inflation rates can become hazardous for the economy. An economy and the policy that is not sustainable in any sense. Something that hasn’t been since the hyper-inflation of the 2008; as the current situation with other currencies than their own to keep the businesses and government a float; as well as fiscal policies to keep the Zanu-PF elite from still eating while the drought, El-Nino and Mugabe’s megalomaniac power-struggle to keep himself on the Iron Throne in Harare.

The reality is that the Bond Notes are excess for keeping up the ZANU-PF and the long-term President Mugabe. His Excellency Robert Mugabe have kept total control of the state and the Ministers collecting the riches while the basic infrastructure, institutions and all the other parts of state are eating of the taxes, donations and little foreign exchange that comes after the international sanctions of the Zanu-PF reign.

Here is the recent excuses and the reality that might happen with the next move for Bond Notes in Zimbabwe; as the more debt for giving debt notes to citizens instead of giving them a currency that actually has value. Not just empty paper notes that doesn’t have value for the citizen or the businesses. Take a look!

Patrick Chinamasa

Early July the Finance Minister Patrick Chinamasa:  

“Zimbabwe will introduce what the central bank calls bond notes in October to counter a shortage of cash in the country. Exporters will be paid with the notes, credited to accounts at the central bank held on behalf of the companies, along with a 5 percent bonus that the minister, Patrick Chinamasa, said the government is happy to pay to encourage outbound trade” (…) “Unless there are exports, there would be no circulation in the market of any notes,” Chinamasa said in a July 17 interview in the Rwandan capital, Kigali. “No exports — no issuance of bond notes.” The notes, to be produced in Germany, will be printed “relative to the volume of imports,” he said” (Njini, 2016).

More reports early on the Bond Notes:

“THE Reserve Bank of Zimbabwe (RBZ) in is talks with the African Export-Import Bank (Afreximbank) and German printers, Giesecke & Devrient, to finalise an agreement on the printing of bond notes, a central bank governor has revealed” (…) “Mlambo said the central bank would not print bond notes beyond the agreed threshold of US$200 million. He said: “We are finalising a tripartite agreement right now that we don’t print beyond the agreed US$200 million. The International Monetary Fund (IMF) has an eye on this. On economic grounds, it will not be prudent to go beyond that amount.” (Financial Gazette, 2016).

“Hon. Majome asked the Minister of Finance and Economic Development to state:

  1. The date when the US$20m Africa Import Export Bank loan to back up the bond notes was concluded and whether its terms were published by the Ministry in the Government Gazette within the 60 days as required by section 300(3) of the constitution; and
  2. Whether the loan agreement has been referred to Parliament for approval in terms of Section 327(3) of the Constitution and also referred to the relevant Portfolio Committee in terms of the Standing Rules and Orders, if not, to state reasons.”

John Mangudya

On 27th July 2016:

Hon Chinamasa says: “Firstly, I want to clarify as I have already done before that the US$20m Africa Import Export Bank facility is not a loan. It is a facility that works as guarantee. Naturally, Government and the Reserve Bank of Zimbabwe will ensure that whatever is done is compliant with the law”.

About Zimbabwe’s inflation:

“According to a note sent to clients in July from Exotix Partners’ Head of Equity Research Kato Mukuru, that dollarization of the Zimbabwe economy created two problems.

  1. There has been too much reliance on the US dollar. The government moved away from the multi-currency regime and said it would conduct all of its transactions dollars. And since most of Zimbabwe’s trade is with South Africa, the strong dollar (compared to the rand) has made it more difficult for Zimbabwe to compete.
  2. Zimbabwe has been running a current account deficit since 2009. Zimbabwe has been exporting more dollars than its been importing, causing a shortage of dollars in the system” (Garber, 2016).

Liquidity problems could cause the government to de-dollarize the economy sooner than expected, warns BMI Research, and that would send the country back into a cycle of rapid inflation. From BMI’s note” (…) “Adoption of a local currency would inevitably result in a rapid increase in the supply of broad money, as the central bank looked to inject enough liquidity into the economy to alleviate the ongoing cash shortage, caused by the current reliance on the US dollar. Without a simultaneous increase in real production, this would increase inflationary pressures.” (…) “As for how high inflation would get, BMI believes that would “depend on the rate at which the RBZ printed the new currency,” but could easily surpass 30%” (Garber, 2016).

This is deep enough as the economic situation is not promising and with the current leadership under President Mugabe the rule of law and stability of the fiscal economic situation that Zimbabwe is already in. Together with the unstable levels of demonstrations that are righteous as the regime haven’t cared for the citizens in decades. The zombies and vampires in the Parliament have cared for their paychecks and not for the well-being of the average citizens. That is why they start with a new round of Bond Notes from the Reserve Bank of Zimbabwe. Peace.

Reference:

Njini, Felix – ‘Zimbabwe ‘Bond-Note’ Printing Linked to Exports, Minister Says’ (21.07.2016) link: http://www.bloomberg.com/news/articles/2016-07-21/zimbabwe-bond-note-printing-linked-to-exports-minister-says

Financial Gazette – ‘Zimbabwe in talks with Afreximbank, German  printers over bond notes’ (21.07.2016) link: http://www.financialgazette.co.zw/zimbabwe-in-talks-with-afreximbank-german-printers-over-bond-notes/

Garber, Jonathan – ‘Zimbabwe’s next move could trigger the return of ‘rapid inflation’ (10.08.2016) link: http://www.businessinsider.com/zimbabwe-could-trigger-inflation-by-moving-away-from-dollar-2016-8?r=US&IR=T&IR=T

Fijian Villagers cheer on Olympic Rugby 7s Gold Medallist (Youtube-Clip)

Opinion: NRM Fiction continues as Kizza Besigye’s “Treason Trial” at Nakawa Court pending until mid-September!

Nakawa 12.08.2016 KB

As the National Resistance Movement regime continues their oppression against the FDC leader Dr. Kizza Besigye; the treason charges against the Opposition leaders after his swearing-in of himself on the 11th May 2016. We are now in mid-August and still the case is not set in stone. If there we’re anything on the charge of Treason they would have time to collect the evidence and affidavits of the witnesses who we’re connected to the conspiracy.

The Nakawa Magistrate Court had yet another session for the case that continues indefinitely as all the cases against piles up so he cannot live an ordinary life or be a proper politician.

What was up today:

“Former Forum for Democratic Change presidential Candidate, Dr. Kizza Besigye is this morning (9am) expected to appear before the Nakawa Magistrates Court for mention of treason charges preferred against him. Besigye will appear before court chief magistrate James Eremye Mawanda” (Radiocity 97FM, 12.08.2016)

Defence in court today:

“…my Lord there is no law that says investigations should take 6 months. All the issues they are raising to charge me are all obvious and true.  They say I demanded an audit and it’s true, they say I won elections and yes it’s true. So what are they investigating? Your worship I ask the court to put an end to this “.

“”They said I had asked for an independent Audit, yes I did. They said that I said I had won an election yes I did. The said that I had put in place a cabinet Yes I did”

“So what is making them to take this long to charge me? They can reinstate the case whenever they are ready.  I pray that this case is stopped today.”

What is the end of today in Nakawa:

“Nakawa court has adjourned the hearing of Dr Kizza Besigye treason case to September 12th over pending state investigations” (NBS TV Uganda, 12.08.2016).

KB Nakawa 12.08.2016

So the continuation of the Court dates for Dr. Kizza Besigye and trials proves how much the Government works to silence the Opposition that are questioning the legitimacy of the NRM Regime. Therefore they are continuing to pound on the man. Because they doesn’t have the evidence or the witnesses to the case yet, even if they have continue this prolonged investigation and trial dates.

The NRM and the Ruling Regime is really conning when it comes to this war-games with fellow opposition as this is not the first time Besigye has a Treason charge. By the time now it doesn’t seem to end. The Cases even from Walk to Work protest in Kabale Magistrate Court is prolonged and this 2016. It proof of fiction from the ruling regime and no other probable causes… if so the evidences would already be collected and taken to court.

The reality is that President Museveni and his cronies think they are so wise and genuine, but they are not. They are just playing shadow games with their own destiny and their little reputation as they use the oppositions as Pawns. That is why they all of sudden have the Uganda Federal Alliance in Cabinet of the 10th Parliament, together with the Uganda People’s Congress and one from the Democratic Party. This proves the level of extent for validation the NRM government needs, but doesn’t get from Dr. Kizza Besigye.

With this in mind… with the reality of the fiction that they claim to be reality they pursue their own demise and their own tales of trials against fellow citizens to continue to hold power. Something that proves: how little rule of law and elections matters as they are only hold to continue the prolonged escapism of Musevenism. Peace.

CJ Bart 11.08.2016
CJ Bart Katureebe cares about justice, the man who banned a word from the dictionary? The word of Defiance! I am impressed by his words to the Press yesterday. This came out yesterday.

 

Gen. Wamala: UPDF to probe cases of soldiers’ involvement in beating opposition supporters (Youtube-Clip)

“The Chief of Defence Forces Gen. Edward Katumba has asked the Commandant of Military Police to identify his men who beat supporters of FDC’s Dr. Kizza Besigye on the day he was bailed from prison in July. Katumba Wamala says the actions of the officers are in breach of the law. Meanwhile, Parliament’s Defense and Internal Affairs committee today heard that the Intergovernmental Authority on Development IGAD refused Uganda to deploy in South Sudan as part of a peace keeping mission aimed at ending the ongoing fighting there” (NTV Uganda, 2016)

Makerere University: “Re: Opening of Semester One Academic Year 2016/17” (11.08.2016)

Makerere 11.08.2016