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

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

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

Makerere 11.08.2016

#ThisFlag Movement Press Statement 11.08.2016

ThisFlag Press Statement 11.08.2016 P1ThisFlag Press Statement 11.08.2016 P2ThisFlag Press Statement 11.08.2016 P3

Recent Corruption Cases: “if he has a university education, he may steal the whole railroad.”

Roosevelt Cartoon

“A man who has never gone to school may steal a freight car; but if he has a university education, he may steal the whole railroad.”

― Theodore Roosevelt

Thieving never stops through systematic and planned behaviour of state officials and government men and woman who wishes a short-cut to earning the big-bucks. It is an international problem. Again I will, blatantly address recent cases because this is something that doesn’t stop. Because of the greed and wish to be rich, in our time and before people and leaders isn’t happy with an ordinary life; they want to live in luxury instead of in normal household. Therefore they go to the extent of making sophisticated ways of trading and using government funds to steal and corrupt systems on their own behalf. Instead of delivering the service and institutions the citizens are supposed to have gained with this money and taxes. Here are some cases!

the_panathenaic_stadium

Back in time the Olympics we’re also corrupt:    

“The fact is that even this Olympic truce often broke down,” says Large. “Famously in 364 BC when soldiers from the city of Elis actually invaded the Olympics grounds in order to retrieve protection rights over the games, that had been taken away from them in the years before. So there was a bloody battle going on right during the wrestling competition” (…) “The Spartans were also a problem,” adds Large. “They had been banned from the Olympics for many years. They themselves thought the Olympics, in any event, were not bloody enough for their taste. But they did show up in the 420s and they got themselves banned once again for extra-curricular fighting.” (…) ““It’s often assumed somehow these ancient Games were purer than the modern ones,” Large concludes. “In fact, if anything they were even more corrupt, perhaps.” (Woolfe, 2016).

Peter Mutharika-2

Cashgate of Malawi continues:

“Seven cabinet ministers are reported to be  implicated in the  K577 billion (about $856 million)   financial analysis report of what has been dubbed the Capital Hill ‘cash-gate’ scandal, named after the seat of government” (…) “He added that he had not received any names in connection with the audit query as yet” (…) “Last week I sent Chief Secretary to Auditor General [to get names] b,” said Mutharika, adding that he did not have any name of a minister” (…) “Where they  [media] get the names I don’t know,”he said” (…)“If anybody has got names please bring them to State House, I would like to see them and action will be taken,”Mutharika said after being asked by one citizen during the program  when he will act on the rotten ministers and cronies” (Chiluga, 2016),

Rohee

In Guyana:

“Speaking about perceptions currently enveloping the political atmosphere in Guyana, Rohee said the subject is of importance to any society. “Perception is important in any society. As they say, perception is reality, and I’d like to emphasise that. And we can’t view that selectively; it is a general, universally accepted social and psychological phenomenon, that perception is reality,” he said” (…) “It is not for me to say that. Why should I say that? That is a general perception out there,” (…) “Said he: “They are helping to reinforce that perception; when we were in government and now that we are in the Opposition. And now the government is being driven by media houses to deal with that matter by setting up SARU [State Asset Recovery Unit]. So let’s take it from there.” (Singh, 2016).

Jeff_South_Beat_04.05_(1)_CC

In Trinidad:

“CENTRAL Division police arrested a building contractor on Friday as he attempted to bribe a Local Government councillor who had cautioned him about substandard work on a project in the district” (…) “The Fyzabad contractor was arrested at the office of People’s National Movement (PNM) councillor for California/Point Lisas, Alif Rodney Mohammed, at around 10 a.m” (…) “Mohammed said he was offered a $1,000 bribe to turn a blind eye to shoddy work on a project in his electoral district” (Kissoon, 2016).

tining_1

In the Philippines:

“THE Office of the Ombudsman affirmed the indictment of Cebu Provincial Board Member Celestino “Tining” Martinez III and former Bogo City treasurer Rhett E. Minguez over allegedly irregular release of fertilizer fund amounting to P6 million in 2004” (…) ““As signatories, respondents should have raised reasonable questions on the legality or regularity of the transaction,” said Morales in her order” (…) “The Ombudsman also dismissed Martinez III from government service over the same case” (…) “In 2004, the Bogo City Government received six checks totaling to P6 million from the Department of Agriculture in Central Visayas for the procurement of fertilizer for rice and corn in 2004” (…) “Government auditors, in their 2006 report, said the foundation failed to liquidate the money. COA’s Audit Observation Memorandum also noted that the foundation failed to submit a list of previous projects implemented and that no accomplishment reports were submitted” (…) “State auditors also pointed out that officials failed to make representations with Sikap Yaman for the liquidation of the P6 million, while the Commission on Audit (COA) named the foundation as the supplier of 250 bottles of overpriced liquid fertilizers in Tuburan in 2004” (Dalipe, 2016).

Ukraine Railway

In Ukraine:

“Ukrzaliznytsia Head Wojciech Balczun. He wrote: “We will change railway tickets booking system. Also discussed this topic during the board meeting. Moving in the direction of the elimination of so called “commercial booking”, the huge source of abuse and corruption. Like when it is impossible to buy a ticket while trains are going empty” (…) “The commercial agent should take all risks. In one form or another there will be a reservation for vulnerable groups and government authorities. Majority of tickets for the open!” Ukrzaliznytsia CEO stressed” (Censor.net.ua, 2016).

So as seen now the cases are all over. It is one continuation from before from Malawi as the President are wondering how the Media got the hold of names involved in the greatest scandal with government funds except for the Zambian Maize fiasco. The others are proof of how old the corruption of back to ancient Athens and their Olympics. Also actions in the Guyana, Trinidad, Philippines and Ukraine; so the tales of corruption happens everywhere and showing tales that isn’t the Fox News crap or something else biased nonsense. This is just common corrupt behaviour. And there are always more! Peace.

Reference:

Chiluga, Zawadi – ‘Malawi President to act on corrupt gangsters in cabinet: ‘Give me names of 7 cashgate ministers’ (09.08.2016) link: http://www.nyasatimes.com/malawi-president-act-corrupt-gangsters-cabinet-give-names-7-cashgate-ministers/#sthash.VgmukkdB.dpuf

Censor.net.ua – ‘Ukrzaliznytsia to change railway tickets booking system: majority of tickets to be availabe for open sale, – Balczun’ (10.08.2016) link: http://en.censor.net.ua/news/401159/ukrzaliznytsia_to_change_railway_tickets_booking_system_majority_of_tickets_to_be_availabe_for_open

Dalipe, Gerome M. – ‘Ombud affirms graft rule on Martinez’ (04.08.2016) link: http://www.sunstar.com.ph/cebu/local-news/2016/08/04/ombud-affirms-graft-rule-martinez-489427

Kissoon, Carolyn – ‘Contractor held: offered bribe to councillor’ (06.08.2016) link: http://www.trinidadexpress.com/20160806/news/contractor-held-offered-bribe-to-councillor

Singh, Raven – ‘Rohee rocks the boat –confirms PPP corrupt perception; declares ‘perception is reality’ (05.08.2016) link: http://guyanachronicle.com/rohee-rocks-the-boat-confirms-ppp-corrupt-perception-declares-perception-is-reality/

Woolf, Christopher – ‘The ancient Olympics were dirty, violent, corrupt affairs. There was even regular ‘doping.’’ (05.08.2016) link: http://www.pri.org/stories/2016-08-05/ancient-olympics-were-dirty-violent-corrupt-affairs-there-was-even-regular-doping

Armoured car sale to South Sudan should be investigated, rights groups say (Youtube-Clip)

“A Canadian-owned company may have engaged in some dodgy documentation in order to sell dozens of armoured vehicles to the military in war-torn South Sudan” (The National, 2016)

Zanu-PF Exposed – Chiyangwa bares it all (Youtube-Clip)

https://www.youtube.com/watch?v=c1_GovkyR5Y

Letter: South Sudan allows UN World Food Programe air-drops of Food in the Nation (10.08.2016)

South Sudan WFP 10.08.2016

Press Statement: UPC calls for a Genuine and Progressive Debate on the Amendments to the Land Act (10.08.2016)

UPC 10.08.2016 P1UPC 10.08.2016 P2UPC 10.08.2016 P3

Press Release: Forgotten People – “Where is the Money?” (08.08.2016)

Forgotten People 0808.2016 P1Forgotten People 0808.2016 P2Forgotten People 0808.2016 P3Forgotten People 0808.2016 P4Forgotten People 0808.2016 P5