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Tanzania: Blocked IMF Report, because of negative projections!

President Joseph Pombe Magufuli isn’t the sort of guy, that handles critics or opposition well. He is the sort of guy that needs all praise and benefits of a doubt. Therefore, the latest move is in a long line of questionable behaviour from his party, his apparatus and his administration to stifle voices of another opinion.

The Tanzanian government under Magufuli is a paranoid and wavy state. Where everything hangs by a thread, if your in the good graces of the President or not. If your not or if you questions him. He will take your license, suspend your newspaper or even detain you for a various reasons. That is the state of affairs. So, that the President and his people have blocked an unfavourable report from the International Monetary Fund isn’t surprising, it is more of the same.

This is from the same man, that has arrested MPs for speaking ill of him. This is from the same man, that didn’t like articles written the The Citizen to later suspend that too. Therefore, when someone dares to question his ways and orders, he will strike with fury. That is the man, the governs and leads the Republic.

Here is some pieces of information, that might be the reason why the Article IV Report of the IMF was blocked from publishing. With the Press Release of the block from IMF, before a Stratfor explanation and projections of the World Bank.

IMF Press Release:

On March 18, 2019, the Executive Board of the International Monetary Fund concluded the consideration of the 2019 Article IV Consultation with the United Republic of Tanzania” (…) “The authorities have not consented to publication of the staff report or the related press release” (IMF – ‘Statement on the 2019 Article IV Consultation with the United Republic of Tanzania Staff Report’ 17.04.2019).

Stratfor explanation:

What Happened: An apparently leaked report by the International Monetary Fund contains criticism of the Tanzanian government’s interventionist economic policies and noted that they are hurting the country’s investment climate, Bloomberg reported April 18. The Tanzanian government subsequently decided to block the report’s release. Why It Matters: The report will likely serve as an alarming sign for international investors who already have been concerned that the Tanzanian government is targeting foreign multinational companies” (Stratfor – ‘Tanzania: IMF Report Criticizes Government Measures’ 19.04.2019).

World Bank Context:

Economic performance in 2018 was mixed, while inflation remains low and stable. The National Bureau of Statistics did not release any quarterly gross domestic product (GDP) data for 2018, pending completion of a rebasing exercise. However, available data suggest signs of softening of the growth momentum” (World Bank in Tanzania – Context, 01.04.2019).

We can clearly see why the President didn’t want this to get released, also that his administration would further hit their goals, when concerning their economic forecast. This is damaging the image and also the confidence in the financial system. The IMF would have told a story that the administration didn’t want to hear or listen too.

That is why it hasn’t been released, because the President who wants all positive and praise. Cannot manage an independent entity from the outside coming with a message or projection, which isn’t fitting the narrative of the CCM. At this point, that is the message I get out of it.

Magufuli and the Tanzanian Administration could have turned the projections and the forecast. They have the ability to create stability and trust in the financial system. However, they are instead stonewalling and continuing on this path. They are not creating confidence of the acts of the government from the outside. It is backfiring instead, but this is from the administration that has to verify and give a stamp of approval to release statistics.

Therefore, we know how far this administration goes. Now, they are even stopping Article IV Report from being released. That is a sign of weakness in the economy. Peace.

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Opinion: Theresa May’s Statement undermines her own leadership…

The vision we had of Brexit is fading away – and we are running out of time to save it” – Theresa May on the 7th April 2019

On the 14th July 2016, Theresa May became Prime Minister after the Brexit Referendum. However, her Government triggered the Article 50 in March 2017 and had final date of leaving in the European Union on the 29th March 2019. On this date, the European Commission accepted that the Brexit final leaving date got to 12th April 2019. However, if that is the final is yet not sure. Even if it just mere days ahead.

What Prime Minister Theresa May have proven with her statement to the public. As she held her plea to the public and sat on the coach. She shown the world, what an utter mess she has created, what sort of weak government, which has had over 30 Ministers to resign in her time in office. In retrospect’s to have that many leaving you for various isn’t a sign of strength, but a sign of weakness. This government on average have “lost” an Minister or anyone appointed by the PM, every single month since its inception. That is a unique feature of someone promising to be strong and stable.

However, the Brexit dynamics is shown in this lax approach to governing. As the negotiations and diplomatic efforts, been more a begging and pledging to get confidence, than actually serving the Kingdom. This is shown in the Declarations and the Withdrawal Agreement, which by all means can be said to catastrophic documents of missing the mark as a sovereign and as a future trading partner. Where the Department for Exiting the European Union (DEXEU) have really fled the scene and most likely just enjoyed spoils of foreign trips away from London. Because, it doesn’t look like they were meaning serious business. All the beneficial for the EU.

So, with all that mind, as the Tories have been wondering in oblivion, as they have kept the public in the dark for so long. They didn’t release possible damage of the various outcomes and now that its getting close to a closure. The reactions, the response and the possible visible costs of the process will come. The narrow and depriving “No-Deal”, which will cost a lot, make the business jump hurdles and even hurt the Good Friday Agreement. However, in the mix and scheme of things, this seems forgotten.

As the Prime Minister has promised for long, that she will honour the will of the people. That businesses, the stakeholders and everyone involved will be taken care off. While, the Brexit will be determined and ended with an Agreement. However, she has made an agreement, that no one likes. Surely, not even Brussels like it, because they have planned for a “No-Deal” and the consequences of that for a while. While the Parliament, cannot manage to agree on anything, except for postponing it and sending the PM on begging mission across Dover.

What are seeing, a PM whose lost, begging for time. A time that she doesn’t have, a visions she never shown and a determination, that this Tories government never had. Because if it did, it would have made a grandeur effort and shown finesse since her takeover and also, since she sent the letter to European Commission notifying them of leaving. We have not seen any progression, anything significant, that been promising of a peaceful journey. Instead, it has been muffled, played the facade and been jeering the crowds at the PMQ at the House of Commons. This sort of show has to stop.

The PM should know this. That her statement and her ultimatum is a bit late. Londinium is already burning. There is no fireworks and no festival of this enterprise, only hope for redemption and salvage whatever that is left. Which is not much, because this Brexit has been played out all wrong.

The Tories are losing, the public is losing and the EU is loosing too. Everyone is paying the price because of the British confidence, but lack of hard work from career politicians. They are safeguarded anyway-

What we will see in the coming days are the self-inflicted pain, that many foresaw, but the Tories never wanted to spell out. The Tories and the PM never accepted the brutal reality of the price of leaving the Union at this point. They are more into their own pride and longing for being sovereign without thinking, what it would do to them. However, the British and the United Kingdom is a lost cause. Unless, the public are going again on the streets. Showing in the final moment, that they want to revoke article 50 and have a second referendum. Not that the PM wants that.

She is betting everything on a bankrupt enterprise and just want to ensure, that all the bridges are burned and there is no way to cross. Since, she wants to at least have delivered a Brexit. Even if it means self destruction and also hurting the economy. Peace.

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