EFF statement on the 63rd Anniversary of the Freedom Charter (26.06.2018)

Maybe Duterte should be more fixated on the economy, and not insult God!

President Rodrigo Duterte has been under fire lately for his statements on the bible and the way the world was created in the holy scripture. He has also kissed a married South Korean lady on stage, while being on state visit in South Korea. So, there is never a dull moment in the life of Duterte. However, before be goes into to deep into the ignorance of faith and lack of understanding of gender equality from the President. Both deserves scrutiny. From I know, both has been discussed and also tarnished Duterte in Rappler and everywhere else. All of that is deserved. He should show respect to the faith and its origin, as well as other shows respect each other faith. Secondly, you should never misuse power to gain sexual advances, that is just wrong and should be condemned.

However, this piece is not about that, this is about how the man who has insulted bible and the other gender recently. Should be more careful with his words. When your discussing the stupidity of the bible. Maybe, should be more careful with throwing that around. That being said, he cannot be as wise, when all the economic signs of late is dire. There is nothing in the recent days and the collected effort that lights hope for the economic situation. These are all reports, that shows the signs of weaken state and also, needs of a serious boost. If they are planning to revive the Peso and the economy in general.

Philippine Statistic Authority on the 7th June 2018 states that from last year, the wholesale price of the well-milled rice has gone up by 6,63 %, the same commodity in the retailers has also risen in price, that has gone up 5,58 %. This is huge amount of money, when it is concerning the staple food, that most eats to every meal, every single day. That means the people are paying more for the same.

Heydarian writes on foreign investments in the Philippines: “During the first half of 2017, there was a 90% year-on-year drop in new investment pledges from $1.45 billion to $141 million. During Duterte’s first year in office, South Korean investments plunged by 93%, while American investment dropped by 70%. Meanwhile, the ranking of the Philippines in the global corruption index hit a five-year low in 2017. During the first quarter of 2018, new investment pledges dropped by 38% on a year-on year basis, reaching the lowest level since 2010” (Richard Heydarian – ‘More Duterte fallout on the Philippine economy’ 21.06.2018 link: https://asia.nikkei.com/Opinion/More-Duterte-fallout-on-the-Philippine-economy)

Xinhua states: “MANILA, June 19 (Xinhua) — The Philippines is planning to issue about 1 billion U.S. dollars worth of Samurai bonds this year, the country’s finance department said in a statement released in Manila on Tuesday” (…) “”This year, we are also planning to issue around 1 billion U.S. dollars worth of Samurai bonds,” Dominguez told Japanese businessmen. Dominguez did not give other details of the planned yen-denominated bond float in his speech, but he has said earlier that the government will proceed with it by September or October this year” (Xinhua – ‘Philippines plans to issue 1-bln-USD Samurai bond’ 19.06.2018, link: http://www.xinhuanet.com/english/2018-06/19/c_137265039.htm).

Bilyonaryo states this: “The peso has lost a big chunk or P3.29 over the last six months to 53.28 to $1 last week from 49.99 as of end-2017 making it the weakest currency in the region. Since Duterte’s entry in Malacanang, the peso has dropped 14 percent from 46.86 to $1” (Bilyonaryo – ‘PH peso is Asia’s worst performing currency; even Duterte admits economy in the ‘doldrums’’ 24.06.2018, link: http://bilyonaryo.com.ph/2018/06/24/ph-peso-is-asias-worst-performing-currency-even-duterte-admits-economy-in-the-doldrums/

There is a worry when the prices of rices goes up that, together with a weakened peso. Both are proving that imports of rice will be more expensive, and not only hit the consumers who needs to pay more for the same commodity. Combined with the losing interest of foreign investments, that short-fall is planned to be undermined by government bonds, which is state created short-term debt to cover the deficit created by the lack of investments. All of this is short-term efforts to cover the stop of funds from abroad. Adding more bonds, will also mature more of the previous bonds and add the collected debt of the Republic. This is not sound economics, but more punching more holes in the bag and hoping the rice doesn’t go out to fast.

The ones losing the citizens of Philippines who will pay for the economic progress or lack of thereof, with a weak currency, higher prices on staple food and also more state debt. That is why I want a President who creates all of that, to respect God a little bit more. Because he cannot be so wise, if he is in-charge of the rising prices of rice, devaluing the currency and adding more government debt. While doing so, scaring away foreign investors and trying to take out more debt to cover the shortfall. That is the only thing it looks like. When the government plans to add the same amount as they are losing in investments. This is a way of getting fresh funds and foreign currency into the market, but not generating more revenue directly.

Time for Duterte to get his focus straight, as KPMG states: “For example, even if government expenditures are below program, they will still be at magnitudes well above those in the past. Foreign grants help, but the country does not depend on them to grow today and those that it lost could be replaced with aid from other countries like China and Japan who are willing to give and are already doing so. At worst, these risks, if they occur, could bring GDP growth down to a still lofty six percent or so average in this decade. In summary, the Philippines will remain among the region’s fastest growing economies even if many of these risks were to occur and is on track towards significantly reducing poverty and strengthening the domestic market over the medium-term. The present leadership has smartly placed the stewardship of the country’s economy at the hands of well intentioned and bright managers bent on pursuing rational policies and carrying on from past successes” (IT Report: Philippines – 2018 Investment Guide by KPMG in the Philippines, P: 15, 2018).

So all hope aren’t lost, but the Philippines and the President should be aware of the policies put forward. They are risking the future, today as they are moving forward. The decisions made are vital and crucial for how the prices, inflation, growth and if the currency even will be worth something abroad. Even if some numbers are going up, all of them aren’t and some are more worrying. As the prices on food and others are rising to. So the growth is eaten up before it is felt, while the state isn’t acting within reason.

So please Duterte, look into the measures and into the economic landscape. Let the people of faith be and respect woman. Please start to look at some of the parts thta are not working. Find out the reasons why the Peso is weak, the rice more expensive and the foreign investors are not arriving. Government Bonds isn’t the solution, that is short-term fix, but not a steady economic policy, which would bring stability to the currency, rising inflation and the prices in general. Therefore, the value of the growth is lost in the deep dark hole of inflation, added prices and weak currency. Peace.

Somalia: Council of Inter-State Cooperation (CiC) Position on the Special Arrangement of Somaliland (24.06.2018)

Another look into the Mobile Money Tax!

Yet again, more things are revealing the dire consequences of the new Exercise Duty tax that the Parliament voted through. This time it shows the significant amount of money that is already exchanged through the Mobile Money, as this is the sole way of transferring it without having bank-accounts or being involved with banking sector in general. This is made for the ones who doesn’t have a local bank and needs to transfer money to relatives, friends or even to pay-off bills through the phone. Therefore, these services are vital.

This is numbers taken from the Bank of Uganda, in their fresh Annual Supervision Report. Where the rates and usage nation-wide is presented. It shows significance. Also, the massive amount of taxation it really is.

“Mobile money services

As at end-December 2017, there were seven mobile money service providers and these included; MTN, Airtel, Uganda Telecom, Africell, M-Cash, EzeeMoney and Micropay. The number of registered customers across the networks increased by 8.4 percent, from 21.6 million as at December 2016 to 23.4 million as at December 2017. Mobile money activity continued its growth, during 2017. Transaction values increased by 44.0 percent to USh.63.1 trillion in 2017, up from USh.43.8 trillion recorded in 2016. The number of transactions rose by 23.8 percent over the same period” (Annual Supervision Report December 2017 | Bank Of Uganda).

Because if the whole you of 2017, the total mass of funds transferring through Mobile Money are on the levels of 63 trillion shillings, that means that if this was taxed with the new Exercise Duties, it would be about 630 billion shillings in direct taxes on the money. That is because the new tax is 1% on every transaction. That means that the total value being delivered from one to another is slimmer, as the one percentage of the transmitted funds will be collected as direct tax. That means if someone is sending a 1000 shillings somewhere, that means 10 shillings are directly taxed and leaves behind 990 shillings to the ones receiving it. There are also other taxes, but on this alone, there is certain amounts to be eaten by the state.

If this amount of tax doesn’t stop the growth nothing will. This is sort of amount will stop the amounts, maybe even people will send less times than before. Because they have to consider the added taxes on every single transaction. They want to make sure their money goes where it is supposed to and not give a too big of a slice to the government for the usage of the mobile money services.

Clearly, the state has hit a growing industry, but instead of making it increase, these sort of measures make it decrease and the cost will be carried by the consumers and not by the banks. They are still amassing in profits and taking their costs for the services as it is. Not like the consumer is transferring the money for free. They are not in it for charity, but for profits.

So just think about the massive cost it will be with the transactions and the lack of consideration the state had when they voted it through parliament with lack of due diligence. It wasn’t only the expensive social media tax, but it is this on top of it. To earn revenue on the hard earn cash that people are transferring through their phones. Peace.

OLUCOME: L’Agumentation Continuelle de la Dette Interieure au Burundi Sans Contrepartie au Niveau de la Production Nationale qui est en Phase de Recession (21.06.2018)

2 Weeks 2 Go: Let’s add a Supplementary Schedule No. 3 for the Financial Year 2017/18!

Today, the Parliament approved a Supplementary Schedule No. 3. for the Financial Year of 2017/2018, which is ending in eleven days or 30th June. That means the Parliament approved a new added funds to needed government expenditure and spending between 19th June to 30th June 2018. This means this funds that are approved are supposed to cover until the Financial Year of 2018/2019. That budget wasn’t approved long ago either. Therefore, it is hard to take this sort of business serious.

That the Parliament has accepted a third supplementary schedule for covering expenses until the next Financial Year. This was accepting 377bn shillings or $ 97m United States Dollars. If you shouldn’t question this, then you shouldn’t question anything the state does. Because this is really questionable activity.

How come the need of these amounts of money? Why wasn’t this covered on the Supplementary Schedule No. 2 for the Financial Year? Because if the Ministry of Defense and others who needs the added funds was serious. They would have covered this and made sure to have the funds. This is making the daily supplement 34 billion shillings for whatever purpose they professed. But it is fishy this late to add. Especially this big amount of money. Are they trying to cover the expenses for the recent by-elections?

It is hard to believe the necessity, unless they have trouble with the water at the State House. Needs more Presidential Handshakes and secure other private deals of the President. Because they need to cover 34 billion shillings each day. That should boggle your mind.

This is on top of the 1.3 trillion shillings that was put in the budget. Meaning the 1.3 billion shillings wasn’t enough. They we’re not able to plan the spend of defense in the FY 2017/18. Does that mean the recently established Budget for Financial Year of 2018/19 needs to billions too? Because the state didn’t have the capacity to plan or reconfigure the spending of other sectors?

This means the state needs the 1,677 billion shillings on the Defense in this Financial Year. That should also show how much of the state spends on this.

But I feel I am naive if these Number 3 funds getting used for food and other needed equipment for the military. Would be less shocked if it went to a By-Election or even bill collectors, that are knocking on the State House doors. Since they have been waiting for their invoice to be accepted and get a payout on the outstanding debt of the state towards them.

This here is just weird adding a supplementary funds just mere two weeks before the Financial Year end. That would be like adding more funds for Christmas Bonus just mere last Sunday before Christmas Eve. That is what they are doing. It is weird and cannot stop saying it. Peace.

Brexit dividend is hogwash at its best!

We know that Prime Minister Theresa May and the Conservative Party wants the best outlook and the favorable view of the withdrawal from the European Union. However, their whole flawed negotiations and the parameter of agreements shows their neglect, more than winning when concerning the days after being a Member State within the EU. That is all forgotten, this has been shown with the dreamland approach to the Customs Union, Migrations and the trade agreements in general. The lack of policies and openness makes the uncertainty even more dire.

It is like the Tories plans to wing it and fix it after the Titanic hit the iceberg. Hope they can save the passengers and the ones on board without having a general plan for any sort of evacuation or sinking itself. That is evident as every day has gone from the ballots cast at the referendum. They haven’t shown signs of certainty or anything really, that is why Businesses has warned the government, businesses have moved to Dublin or even Germany. Manufacturing businesses started to move to other EU Countries, even Land Rover being produced in Eastern Europe to secure the tariffs to the EU Common Market. If that isn’t dire, the loss of jobs and therefore, also the revenue of the production. Will hit the government. But they don’t want to talk about that.

That is why the Tories and PM May is speaking positive about the Brexit Dividend, as the lack of paying to EU projects and EU organizations will save the government so much money, as they are maybe even forgetting the money that is going to EU sponsored infrastructure projects and educations sector. However, that is maybe not in May’s calculation. Who knows at this point right? It is all spinning the wheel and hoping no-one looks into it.

The Tories should be horrified of the situation they have put businesses in, the population and the uncertainty of what they are getting out of it. There so many warning signs, and so much business already moving and sparking messages that they are planning to do so. Because they are worried about capital, tariffs and also their possible transfer of goods between the UK and the rest of EU. None of this is certain. Maybe the UK get less free-market, but also less open borders when concerning people. But the reaction from the EU will be less friendly trading partner and that will hit the banks and corporations. The City of London might lose it power in Europe, as that moves to Frankfurt and even Dublin. That must hurt the pride of UK. The sun isn’t setting on an empire, but a sinking ship.

A sinking ship they themselves put on fire and saying everything is fine and dandy. The UK has played themselves for fools and now only getting uncertainty. That is what outsiders are seeing and weird that the UK are accepting this. They are going to get hurt by the Brexit, whether they like it or not. There isn’t any signs that shows otherwise. As the ramification on production, industry and businesses, the ones generating revenue are under fire and the bonfires are not put out. Instead, the Tories are hoping no one notice.

Theresa May might promise more to the problematic NHS, but then the taxes has to grow, the people will be more taxed. As the revenue from the corporations and businesses will go down. As the Customs Union, the issues of lack of trading policies and the reaction of becoming third country and trade as that. Will not make the change friction-less, but instead hurt the economy and the windfall be costly for the population.

Therefore, the UK should be wiser, but not anticipate it. The Tories are busy scheming and lying, trying to configure components and trying to foolishly spin the reality. Without showing the reality, that is why the leaks of possible damage of the Brexit took so long. The Department tried to keep them to themselves, because they knew these numbers would hurt the cause. That is why David Davis and others in the Tories wanted to keep all information to not show the reality to the public. Because they knew that this was an issue and would likely make the citizens afraid of leaving.

The United Kingdom citizens should ask for openness and transparency, as the state have tried to not show the reality for months and since the referendum. That shouldn’t be the state of affairs, and that is why the uncertainty is there. Combined with the lack clear policies and willingness to show what sort of exit the UK wants. As they have moved back- and fourth. There been so much squabble and internal issues within the Tories alone. That the Brexiteers and the Remainers have made the negotiations and the EU uncertain of what the UK really wants. The EU have clear guidelines, but the UK want to make their own. Which will be impossible.

This saga is far from over, but the Tories will continue to spin, but not be caught in the hype. The losers are the public and the citizens, as the uncertainty only makes businesses and the manufacturing companies more certain of moving across the borders to safety. The Brexit Dividend is a forgery and will not become a reality. Only May and her Brexiteers believes that. Peace.

#UGBudget18: Museveni – Was this a budget speech?

I don’t know where start or where to finish. As I am not a tool of propaganda and here to make the President look like super-star with a brilliant mind. Warning the media, banning Police Bond for Killers and all other spats of nonsense, which has nothing to do with the budget. It is just like he has defend himself. As President, he even attacked MPs and their attitude. They were ATMs to their voters, something he is and been called himself. He even recently tried to bribe his MP into position in Rukungiri. So that the President has short-term memory is evident.

You know he is in self-hostile territory, when one of the biggest donors and on of the biggest media owners Aga Khan gets a warning. Surely, the President cannot handle journalism and only care about praise. He cannot manage that people are looking into the growing debt. As this budget alone is 10 trillion back-pay of loans of the 32 trillions spent. While there is shortfall and growing deficit and the donor funds are still dwindling. Therefore, the need for loans to cover the shortfall is needed. So what the President is creating is a debt-trap. He can say he managed that since he used 27 guns, but different to blow former-leadership into oblivion and actually being able to repay your debt.

I am just awaiting the salute and the simple minded changes he is progressing into middle-income country, as the President is showing less intent of doing anything. He just talking about nothing and everything. Quoting the bible and acting holier than the pope, while warning everyone else. Not that it is securing anything. He will secure it all, as he is the man who has the answers. If this is getting boring, is that he has done this for 32 years and counting. And has not changed, other than his face and tenure of hair on his head.

It is like he doesn’t care and just say whatever that is on his mind. No one will fact-check or really check the relevance, because why mind. Its a deluded old man, who has been so long in power, that the ones going against are either in jail or possibly monitored by the sleeping police officers his been talking about. He is again blaming the mindset of Ugandans. Because there is never his fault. He has just been running the enclave and people gotten lazy, awaiting handouts. Not like he has delivered any of his pledges, built institutions or prosperous organizations for the citizens. That is just his lack of mindset and work ethic.

Therefore, there is no need to really dig deep into the speech. It is mere facade, a mere forged mirage of utter nonsense. A speech rampant of lies and warnings. If your a journalist or MP, you should feel offended. Because he expect to be praised, while your supposed to carry the nonsense from him.

The saddest part is that he takes no responsibility, that he has no accountability or no common sense. That this man just continuing to utter these words, like a word-salad of mockery of intelligence. While expecting that the spinning-machine of his party, his spokespersons and friendly media will make him look a giant. They will eat the crap out of it and make it look like gold, but its only fools gold. Not worth the bling its made off, better to buy a Rollex in Wandegeya, it will at least fill your tummy for a moment. Because the fools gold will be worthless and just ready for the bin.

President Museveni has no cards to play or nothing to say that changes the narrative. Only 1986ing the world and hoping he can get away with it. However, the debt trap should worry him. Nevertheless, it is the next generation that will pay-back it and he will be dead by then. Peace.

Burundi: OLUCOME – Degradation Continuelle de l’Economie Burundaise suite au Manque des Fonds d’Investissements Contrairement aux Discours Politiques du Gouvernement qui Affirment les Realisations de Beacoup de Projets d’Investissements a Ses Propres Fonds (13.06.2018)

Brexit: House of Commons – Consideration of Lords Amendments – “The Unity Amendment”