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Archive for the category “Economy”

Insane-Breaking-News: Pastor Evans Mawarire arrested during Church-Service today!

I’m just about to finish preaching and I’m told the police are waiting for me outside” – Evans Mawarire (24.09.2017).

Because of yesterday on Social Media while being in a que, the #ThisFlag founder and Opposition activist Evans Mawarire was discussing and showing the Bond Notes crisis and the lack of Petrol in Zimbabwe. Clearly, that didn’t run well with the authorities. The Zimbabwean African National Union – Patriotic Front (ZANU-PF), the ruling regime with President Robert Mugabe got a whiff of this and not strange. Since, even I watched the clip on Facebook yesterday.

This with the knowledge of the cost of 50 Cents bond-notes from the South African Mint that was ordered on the 20th September 2017, cost about $3 Million US Dollars. Therefore, before the money hit the streets and towns, the cost is huge for the state. This should worry anyone, this is just one order and one type that has been revealed. We can just wonder how much the Zimbabwean government has paid for other bond-notes from South African Mint. As the debt created by creation and the funds loaned by the Afreximbank. Therefore, the loans that has to repaid on the weak currency, that is now failing. Just like the bearers notes given in 2008. That is what Pastor Mawarire was discussing yesterday. The reason why he was detained while preaching today.

The Zimbabwe Republic Police has really overstepped, we know they have a grudge against the pastor and his civil activism. But taking him during a service is just out of order. Its shocking and insane. It’s like taking an MP while in the Parliament during a plenary session. How can you barge in to the church and arrest the fellow preacher? Are there no honour within the ZRP? Has not the double or triple doctorate of Mugabe any common sense?

Certainly, the Mugabe family is not that common anymore, since they are riding in expensive rides, while the public are in ques for petrol. That the people are on the black-market for the imported goods, while the industries and the exchange are growing. The running inflation of the currency, while the state trying spin-control it. Like it isn’t happening and the world doesn’t know.

If you want proof of impunity and nonsense. Just follow the trail of the civil activist in Zimbabwe, how they are threaten, treated and detained. Where else can a pastor be arrested while leading his church service with his congregation? Where else can a civil activist without court order or even a court ruling be detained for months upon end and released suddenly, that has happen to several activists. That proves how little Mugabe cares, except getting his wife pardoned for violence in South Africa. It is two classes of people in Zimbabwe, the ZANU-PF elite and the rest! Peace.

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NASA Statement: “Uhuru Enjoying Proceeds of Crime” (22.09.2017)

Opinion: Exposing the IEBC Presidential Election shows that the only hope is, to reform it!

For every inch of exposing the culprits behind the rigging on the 8th August Presidential Election in Kenya, will leave more people scorn and more people angered. As ruling regime and their partners never expected this to unfold. That incumbent party Jubilee and their allies never anticipated that someone would catch a whiff and if they did, they would just nod their head and sigh. Then move on, like nothing happen and nothing was stolen that day.

Clearly, this has backfired and for each going since Presidential Petition was delivered to the Supreme Court. For each and every single day, there been released new intelligence, new insights into the conducts of the Independent Electoral and Boundaries Commission (IEBC) and also their connected companies. This being Safran or Morpho with their KIEMS, the Cambridge Analytica servers and the duplicated accounts of IEBC Officials. There are enough crimes and fraudulent behavior to write a book. However, that would be to insulting, as the term is still going-on for Kenyatta, the supposed winner of this rigged election.

Nevertheless, you can see that something is not on it is up and up. When Jubilee, the incumbent are attacking the Supreme Court and trying to fix-it. While the audits, the rulings and all documentations blaming the IEBC and their partners. Certainly, this sort of act is not for the crowds, but for disbelief, that someone would dare to step-up and shut the door in the face of the incumbent. That is initially what happen and that was not expected.

Therefore, as the days goes by, the duplicated accounts, the fixing of the biometric scanner, the KIEMS, the results manipulations and the IEBC Portal filled with Electoral Fraud. Is all in the daylight. As the IEBC-leadership and Secretariat are trying to pass and push for second round K.O., even as the National Super Alliance (NASA) and their candidate Raila Odinga are showing the world their digressions.

It is not like there is nothing there, there are too much at this point to put a finger on. Like you should blow-up the building at Anniversary Tower in Nairobi. Leave all the documentations and tenders behind. Start a fresh, hire new people and get new Electoral Codes, since the ones that are there is ready for the taking. The IEBC needs something else than what it has today. Today, it is a relic, a fine and dandy machine for not respecting ballot, bur reconfigure the ballots to fit a paradigm. The IEBC today are for the rulers to stay ruling, not to listen to the voters and validate their votes. To say otherwise is to either be blind and lose your marbles.

The IEBC does not only reform, it needs to be shaken to its core. The foundation is built on a lie and it is in the open. As the wounds and the battles of August is still fought in paragraphs, tweets and in conversation. The distrust and disbelief of the magnitude of fraud, should shock anyone, the bribes, the tricks and manipulation in favor of one man and his party. Therefore, that man is blaming the party that took away the shackles on the IEBC and made them have another election.

Kenyatta, should instead of focusing on Supreme Court, he should if he cared about the voters and their integrity, fix IEBC and their outstanding issues. Which is bigger than a mountain and more pieces of misbehavior than an ordinary puzzle. It is not enough to fire fellow leaders and expect it be golden. If it was so, the leadership change after Chickengate, would have made this election gone smooth. However, apparently for all of us. It did not!

I am just waiting for an E-Mail or a Correspondence between IEBC and Jubilee, where they agreed upon how the result would look like and about what time to announce it. Since, it was so well-planned and behaved, the system of rigging, the manipulation of electronic results and the transmission of them. It was so obviously set-up to make sure the incumbent would win.

Though today, we see and yesterday we saw, what they did and how they did it. The aftermath and the end-game has been altered. It angers Kenyatta who wants to smash SCOK, but should use his mind and fix IEBC. Not that it is in his interest. But if he cared. He should, he want justice, he should and if he cares about the voters. He should, but do not count it. Peace.

Opinion: The Ethiopian Financial Market is plummeting…

The Ethiopian People’s Republic Defense Force (EPRDF) Prime Minister Hailemariam Desalegn have ordered to fix economic problem the government has. EPRDF has been hailed for their financial growth, but with this sort of news. You know the growth and the reality is far from the truth. Ethiopia News Agency: “International Consultant of Trade, Investment and Economic Development, Dr. Taffere Tesfachew said on the occasion the fact that African countries are performing better than the global average is testimony to how far Africa is coming over the decade. He noted that the economic growth of countries like Ethiopia and Ivory Coast is highly impressive at this time when other African countries are struggling with one or two percent growth” (ENA, 2017).

So I have to question the economic growth, as the Forex Woes and the remittance from the diaspora are proving otherwise. Together with the need of more foreign aid to solve the famine of the drought. So the World Bank clearly knows the troubles of the Ethiopian government since they did this:

The World Bank today approved a $600 million International Development Association (IDA)* grant to support the Government of Ethiopia’s vision of building a national safety net system to provide effective support in chronically food insecure rural areas, including providing cover during droughts. The Rural Productive Safety Net Project (RPSNP) supports the evolution of the Government’s umbrella Productive Safety Net Program (PSNP) that has been in operation for the last 12 years and is one of the world’s largest safety net programs in the world. Run by the Government, the PSNP pools money from 11 donors, including $600 million of World Bank Group IDA funds. The PSNP provides regular cash or food transfers to 8 million people; currently 4 million of them are in areas affected by the ongoing drought. Its food-for-work component supports public works programs related to landscape restoration, irrigation, and agro-forestry” (World Bank, 2017).

So, when the World Bank gives this as a support of the government. You should take it serious and know the problems of the state. The need of financial support and to make sure drought doesn’t affect the starving citizens. EPRDF are doing badly and now the Forex Companies has to pay of the National Bank of Ethiopia (NBE) for the debt to Enterprise in Djibouti. Look!

Foreign Forex Woes:

The directive of foreign currency allocation entails all banks must sell foreign currency to a sector whose importance is very high. The banks are required to give priority to payments authorized by the central bank such as foreign loan, supplier’s credits, interest, profit, dividend and excess sales of foreign airlines. Hence, all banks are required to sell the currency collected from importers, although the current direction is high, according to a banker with almost two decades of experience. “Even though I agree with the fact that we shared the responsibilities with CBE,” said one of the vice president of a mid-sized bank. “But requesting such amount of Forex in a short time might lead to crisis.” Yohannes Ayalew (PhD), vice governor and chief economist of the central bank, disagrees. “It is a collective responsibility of all banks whether the call was quick or not,” said Yohannes. “There is no reason to ask CBE to cover all the payments.” The Forex shortage in the country has been haunting the country for years. Prime Minister Hailemariam Desalegn, in his press conference with local media nine months ago, admitted that the Forex crunch would last for the coming two decades” (Addis Fortune, 2017).

NBE Directive to pay of debt to Djibouti:

National Bank of Ethiopia (NBE) gave order to private banks in Ethiopia to pay the 15 million USD bill the Ethiopian Shipping Logistics Services Enterprise (ESLSE) to Djibouti’s company. The banks are, according to Fortune, given 3 days to sell the foreign currency to the Enterprise. The order is said to have come when the entire country is in short of foreign exchange. The shortage came following the drop in the country’s export performance and remittance earnings. ESLSE owes the money to the port of Djibouti and the central bank gave the order for every bank including the government owned Commercial Bank of Ethiopia (CBE)” (Addis Fortune, 2017).

Beset by the ever expanding informal channels of remittance, Ethiopia may continue to grapple with shortage of hard currency unless swift and collective measures are put in place, ‘Scaling up Formal Remittance to Ethiopia’ report discloses. A billion dollar transaction takes place via informal channels with 78 percent of the total remittance passing through informal networks in Ethiopia. Some experts believe that the transfer of money through unregulated channels will also likely result in illicit financial flow and dealings. The seizure of 541,659 USD around Harar is a recent indication of informal corridors of hard currency. Informal channels happen to be lophooles for global terrorism and corruption. It will open doors for illegal activities, people may use it to collect huge sums of money for their own dangerous causes, says Ethiopian Financial Security Director General Gemecu Weyema” (Gebrehiwot, 2017).

All of these articles proves the problems of the National Bank of Ethiopia (NBE) and their lacking foreign exchange. This has become a problem as the remittance hasn’t come through the formal channels, as the informal economy are big in Ethiopia. Together with drop of foreign exports that has also hurt the amount of exchange.

Clearly, the government of Ethiopia has a bigger problem that they want to reveal, as the NBE and the Foreign Exchange is plummeting. Therefore, the need at the same time for World Banks loans. Shows the dire situation of the economy. It is not like the Ethiopian News Agency would speak ill of own government and their policies. Since, the propaganda of own growth are more important, than actually telling about the weakness of the economy. This is a reality since the financial policy of Forex Exchange is in favor of the NBE.

This can also make it more profitable to for an informal market, instead of in the open market. The Ethiopian government really needs foreign exchange to pay of debt and use all their means. Instead, they are trying to cover-up their troubles, as they have debt to Enterprise in Djibouti and have troubles with the famine caused by drought. Peace.

Reference:

Addis Fortune – ‘Ethiopian Government Orders Private Banks to Cover ESLSE Forex Needs’ (12.09.2017) link: https://www.ezega.com/News/NewsDetails/4679/Ethiopian-Government-Orders-Private-Banks-to-Cover-ESLSE-Forex-Needs

Addis Fortune – ‘Ethiopia: NBE Ordered Banks to Cover ESLSE’s 15 Million USD Bill’ (13.09.2017) link: http://www.2merkato.com/news/alerts/5220-ethiopia-nbe-ordered-banks-to-cover-eslses-15-million-usd-bill

Ethiopia News Agency – ‘Gov’ts Need to Act Together to Achieve Economic Success: UNCTAD 2017 Report’ (14.09.2017) link: http://www.ena.gov.et/en/index.php/economy/item/3705-gov-ts-need-to-act-together-to-achieve-economic-success-unctad-2017-report

Gebrehiwot, Desta – ‘Ethiopia: Informal Channels Raise Red Flag On Forex Earning’ (14.09.2017) link: http://allafrica.com/stories/201709140729.html

World Bank – ‘World Bank to Help Ethiopia Build a National Safety Net System as a More Effective Response to Droughts’ (14.09.2017) link: http://www.worldbank.org/en/news/press-release/2017/09/14/world-bank-to-help-ethiopia-build-a-national-safety-net-system-as-a-more-effective-response-to-droughts

UK Statistics Authority Chairman Sir David Norgrove letter to Foreign Secretary Boris Johnson: “On his clear misuse of statistics” (17.09.2017)

Opinion: Boris Johnson shows his ‘Alternative Reality’ concerning Brexit!

Boris Johnson, the writer, the journalist and who turned politician. The now Foreign Secretary of United Kingdom in the Conservative-Democratic Unionist Party (Tories-DUP) Government. Clearly, he has his own marbles and his own vision. As it sparkles on the night sky like stars. He thinks it shines and is the reason for light hitting mother earth, not that the light is the reflection and sun-light shining on the stars and moons to reflect back on mother earth. It is the same way I feel while reading the The Daily Telegraph, the article he written in prospects of gaining support for his vision.

Boris Johnson or from now on Bojo, has his own vision, certainly not one of a kind. This article could have been written by any maverick inside the United Kingdom Independence Party (UKIP). The only thing making it difference isn’t the nationalist stance, but more on the economic foundation and self belief, that the EU negotiations will benefit the UK. He has to believe it, since his career needs it. Bojo are clearly trying to sell a story and tries to deflect. Even with lies and submission of “we will fix it in the end, please trust us”.

Bojo words speaks best for themselves, but if Europeans had any hope of a deep insights to the negotiations or understanding of the Tories policy considering Brexit. There is no insights that we didn’t know. Because the UK thinks they can walk-away without any hurt or damage. That the future will be better and without any deep consequence, therefore, another world of alternative reality. Nearly like a Tories fan-fiction. Fixated in the ideals of leaving, breathing and winning, without any actions and any consequences.

If we had been asked to design the EU ourselves with a blank sheet of paper we would have nothing like the body that exists today. We tried so often to frustrate it. I was there at the Antibes ecofin when British officials made a gallant attempt to strangle the euro at birth with a project called the hard ecu. I was there when they ambushed Margaret Thatcher at the Rome summit with conclusions that the British thought had been explicitly rejected. I remember how we kept trying to stop this or that – we rejected the very notion of political union; we tried to stop the expansion of majority voting. And I remember the mantra of EU officials – Britain objects, Britain protests – but in the end she always signs up” (Johnson, 2017).

We are not going to dismantle the corpus of EU law on exit. On the contrary the objective of the repeal bill is to incorporate it. Our systems of standards will remain absolutely flush with the rest of the EU. We would not expect to pay for access to their markets any more than they would expect to pay for access to ours. And yes – once we have settled our accounts, we will take back control of roughly 350m per week. It would be a fine thing as many of us have pointed out if a lot of that money went on the NHS, provided we use that cash injection to modernise and make the most of new technology” (Johnson, 2017).

If we organise, if we plan, if we build the homes and the infrastructure we need, if we give our young people the skills and the confidence that they could so easily acquire – then we can also ensure that this country is not just the place where everyone wants to come and live – but the place with the highest standard of living, with the per capita GDP, the productivity and the quality of life that we deserve. That means insisting on a culture that is pro-business and pro-enterprise, but one that is so dynamic that fat cats can no longer sit unpunished in their jobs when they let everyone down” (Johnson, 2017).

It is like he expected the EU only to benefit the UK. Not like it was a genuine partnership between all Member States. Some laws and regulations are made to fit more the Netherlands, other fixed for Spain. This is how agreements are being built. Just like UK has gotten specialized grants for agriculture, roads and other projects in Wales. Not because the Polish or Germans wants to pay directly for the development of Cardiff or Swansea, but they do, as a part of the EU. It’s like the whole article tried to forget that part and forget the lost funding of Universities and Colleges by EU grants and funds. But, hey the UK don’t need that.

Than he had to reveal a lie, a fixed number to sound brash, a loud and high voiced 350 million pounds a week. Not like the sums that it cost for trading, being a member and also single market opportunity has its advantages, that is why the Tories are positive for staying it and not wanting to leave that part of the union. As part of the free-trade paradigm. Because the British knows they need to trade with the EU and their Financial Institutions are benefiting from it. That he has to use an artificial high number to say, we get wealthy if we leave and can spend it on the sick. Is just playing pitiful politics with businesses and livelihood. Not that he has a single solution or program to fix the ceasing of dozens bilateral agreements. That is something David Davis and other knuckleheads can fix.

So as the months are going, he suddenly says actually “If we plan….” like they shouldn’t have had a plan before the vote or withdrawal, before the announcement and letter delivered to the European Union. It shows the disregard of the public and the businesses. That the Tories had no plan, David Cameron, never wanted to leave and therefore fled the post as Prime Minister. So the Tories-DUP, initially has to plan, since the haven’t done that already. Their own Foreign Minister is stating that on the 16th September 2017, that if they plan… If they plan.

Just consider that for a moment and think of the time since the letter was sent to European Commission, even further back to the Brexit Election. Clearly, if they plan, they might not get to hurt or to bad of a deal with the EU. Not like it is giving the public hope of their negotiations tactics or framework. Since they still at the planning stage. Peace.

Reference:

Boris Johnson – ‘How Brexit Britain will triumph’ (16.09.2017) – Facebook Article/Daily Telegraph

U.S. Senate Committe of Finance letter to DHS on Trump Resorts (14.09.2017)

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