PwC report spells gloom over rising debt in Uganda!

Ugandan shillings

A report released by PricewaterhouseCoopers limited has delivered this month is clearly seeing what others has seen with the economic situation and the use of funds by the National Resistance Movement (NRM) and their regime. This report by a company which is an international company who works with other businesses and civil society organizations who needs economic advice and advisory services for taxes and such; therefore the report from PwC on economic situation is telling. Their speciality on their outlook will be saying with auditors and financial analyst whose words means a lot. They are professional analysts in this field are writing and saying this on the economic climate. The Economic climate is worrying and that has been visible. The liability of the growing debt in the republic has been a hazard together with the lacking internal revenue for the state as well. Just take a look!

Sluggish economy with higher debt:

“This bulletin comes at a very crucial time for the Uganda economy when growth is slowing down, private sector credit is on a decline, consumer demand is low, implementation and execution of critical public infrastructure projects is very sluggish, and the public sector debt burden on the economy is at the highest it has ever been” (PwC, P: 3, 2017). “If the domestic revenues collections continue to underperform, the government will be forced to borrow more from the domestic market. The increase in government borrowing may result in a substantial increase in yields on government securities, which may result in an increase in borrowing rates, which may constrain the private sector credit growth even further” (PwC, P: 7, 2017).

Growing debt:

“The Uganda’s public debt burden has risen by 12.7% in the past four years from 25.9% of GDP in FY 2012/13, to 38.6% of GDP in FY 2016/17. The debt burden is projected to continue rising to 45% of GDP by 2020. Debt as a percentage of revenues has risen by 54% since 2012 and is expected to exceed 250% by 2018. The country’s ever increasing debt burden has resulted in a deterioration of the debt affordability situation” (PwC, P: 8, 2017). “Uganda’s capital expenditures are still too reliant on external finance. Currently debt servicing constitutes 11% of the total government expenditure, one of the highest debt burdens in sub-Saharan Africa. This is expected to increase to 16% of the total government expenditure by 2018. Uganda’s debt burden has risen faster than the government’s own resources, resulting in a debt-to-revenue ratio of 236%, one of the highest amongst B-rated countries. This has prompted Moody’s recent down grade of Uganda’s long-term bond rating by one notch to B2 from B1” (PwC, P: 8, 2017).

An Economy with challenges:

“2016 was an economically difficult year for Uganda. The economy faced numerous challenges due to the continued uncertainty surrounding the recovery in global economic growth, weak commodity prices and geopolitical events in our key trading partners. As a result, of these numerous challenges, our export earnings, FDI flows and remittances to Uganda all went down. These developments, together with a slowdown in the execution of public investment projects and weaker than expected private sector demand, had a major effect on the economy” (…) “Other internal risks include delays in the implementation of public infrastructure projects such as the Standard Gauge Railway (SGR) linking Uganda to its East African neighbours, and the key infrastructure projects critical for the commencement of oil production” (PwC, P: 4-5, 2017).

If you are worried by the Republic and their economy after this, than you haven’t followed the class since this signs have been there for while! The state of the economy is fragile and the debt rise should concern all the ones inside the Republic and also outside. However, this could change, but that has to be done by the government and steer in another direction as today. The greed and the common sense of developing the economy is forgotten, as they are fixated on infrastructure projects and oil developments, while borrowing to fill the losses of donor-aid and internal revenue. This could be done in many ways, but that would not be easy. Peace.

Reference:

PricewaterhouseCoopers Limited (PwC) – ‘Uganda Economic Outlook 2017’ (February 2017)

Finally released Dentons report on South Africa Eskom’s performance is revealing of malpractice in the state-owned energy company!

eskom-data

A long-time delayed report have been released this week, as the South African ruling party African National Congress (ANC) and their ministers has tried to subdue the private analysis of the government energy company ESKOM. However, this report will assess needed information that should have been delivered before the other leaks of questionable transactions and contracts that Eskom has done in the recent years under President Jacob Zuma. President Zuma has used his presidency to earn monies for his family members and even some of his family work in corporations that have gotten state contracts through Eskom. Therefore this report is telling of how the sufficient business-model and energy production has been handled by Eskom. This will be about the years before 2015 and to that date. What Eskom has done since has either been revealed through the contracts or through the scrutiny of Public Protector or Finance Minister who has questioned the company themselves. Just take a look at what I find as key things from this report!

“Prior to 1997, Eskom plant operated at relatively low energy utilisation factors (EUF). However, from the onset of Eskom 90:7:3 operational strategy in the mid-90s, the Eskom plant operated at higher EUFs. After 2012, the plant operational at very high EUFs with the median being in excess of 90%” (Dentons, P: 19, 2015).

About the lacking investment in older plants:

“The Generation Sustainability Strategy document cited information that Eskom has reduced planned maintenance (reflected in the Planned Capability Loss Factor (PCLF)) in order to maintain “Keeping Lights On (KLO)” strategy. It could be noted that the historical 90:7:3 strategy applied by Eskom should also be factored in the assessment of the fleet performance as international practice typically targets values in the order of 85:10:5” (…) “The historically low PCLF coupled with the KLO strategy and factors such as coal quality and high utilisation factors have led to a sharp increase in Unplanned Capabilities Loss Factors (UCLF)” (Dentons, P: 19, 2015). “The Generation Sustainability Strategy document indicates that the Eskom generation fleet has experienced 15 years of under-investment in capital expenditure (capex) which is largely the result of cost cutting due to financial and capacity constraints” (Dentons, P: 20, 2015). “The analysis of this information indicates that there was significant under-investment refurbishment capex versus best practice for an extended period of time (from the mid 1990s). The under-investment at plant mid-life age is also critical and significantly contributes to the current poor plant performance” (Dentons, P: 22, 2015).

2010 Football World Cup:

“To uphold the KLO Strategy, short term decisions were made by Eskom that negatively impacted on the long-term sustainability of the generation plant. Historically, this would include the impacts of maximising plant availability during the critical period in 2010 prior to and including the FIFA 2010 World Cup. The knock-on effects of deferring maintenance may not be immediately materialised and often manifest themselves later in the generation planning/production cycle. As an example, the available documentation indicates that in January 2013, five previous maintenance outages were not executed as scheduled as sufficient generation capacity was not available on the grid. The lack of generation reserves has also resulted in units operating outside limits of good practice. As an example, in June 2014, 46 out of the 79 coal units were operating outside of good practice” (Dentons, P:27, 2015).

eiug_load-shedding-infographic_20141015_ethekwini_lr_2-01

Load Shedding:

“Load Shedding is the reduction of demand to achieve a balance between available generation and demand. If demand significantly exceeds available generation and reduction in demand is not achieved, the system will frequently drop, which may ultimately result in a system black-out” (…) “The problem Eskom faces is a steady decline in the performance and availability of its coal fleet. The further leads to a lack of ‘space’ to execute the maintenance required to restore the condition of the coal-fired power stations so as to achieve acceptable operating performance. This has been compounded by the delays in bringing on new capacity such as Mepudi, Kusile and Ingula” (Dentos, P: 30, 2015).

Skills to execute new build projects:

“When the decision to proceed with the new build projects was made, Eskom had limited skills to conduct such a project. Eskom has not developed coal power plants for decades. Experienced power plant staff (mostly operational staff) were moved to new build programme which left substantial skills gaps at the operating power stations” (Dentons, P: 38, 2015).

Delayed Projects:

“One of the measures taken by Eskom to bolster knowledge and experience was to recruit experienced resources internationally to increase the skills base. Eskom recently announced revised timelines for the Medupi and Kusile indicating that these projects will be further delayed and are now only planned completion by 2020 for Medupi and 2022 for Kusile. These appear to be more realistic time frames given the current status, but there remains general scepticism as to whether Eskom will be able to achieve this given its past track record on contract management for these projects” (Dentons, P: 42, 2015).

Debt made by Eskom:

“New debt of R49.5bn was taken on in the year to fund the continued capex programme. However, Eskom was downgraded to sub-investment grade status by both Moody’s and S&P and thus the funding was provided at much higher finance cost. Liquidity concerns were heightened as the net cash flow from operating activities of R23.3bn was not sufficient to cover the total of debt due for repayment of R17.1bn as well as the net financing interest payable of R15.3bn resulting in a shortfall of R11bn. In essence borrowings were starting to be used for ongoing operations” (Dentons, P: 89, 2015). “Eskom Treasury recently highlighted the key risks that Eskom faces to execute the borrowing programme, and in turn therefore complete the new builds: realisation of BPP cost savings; cost overturns on Medpudi and Kusile; RCA cost recovery in MYPD3 future years; Declining future ratios; threat of future ratios; threat of further credit rating downgrades; inadequate liquidity buffer; Lack of market appetite for Eskom debt; and inability to execute borrowing programme. In FY2015, all of these risk materialised” (Dentons, P: 94, 2015). “Recent history does not place these risks in a good light. Eskom is currently sacrificing its future to survive. If sales and arrears continue to plague Eskom, there is a shortfall in lending, a failure to meet meaningful cost savings, and a continued EAF below 80% prevail (in other words a continuation of the trend of the past 2 years), Eskom’s bail-out funds will evaporate” (Dentons, P: 95, 2015).

medupi-power-plant

That this report is damaging to the reputation of Eskom. This shows the malpractice and lacking of guidance that the company has had. The monopoly and grand control over the market as the state corporation has given it kickbacks and security of funds, even as they haven’t done things properly or planned. Therefore the enlightenment and the clear indication of lose planning and less of experts on the field of building new power-plants is proof of the misguided and maladministration that’s been inside the Eskom company.

The African National Congress that has been the ruling regime and the ruling party, that has been in-charge of the resources and the selection of hiring and changing leaders of the company. Can be put to blame for lenient and lacking acts of putting in place enough expertise and enough clear procedures on how the changing leadership should go about. So the Eskom could be sure of having men and woman who we’re qualified and had experience to handle an organization and business like this.

The report highlights major facts and breaches in also ordinary buying procedures and lacking of that and other issues that I couldn’t fit. There are many lose ends that Eskom has and needs to address, that ANC has to take responsibility for and also answer for. Because the Company has dwindled and lost its edge during the reign of ANC and President Zuma, who rather spoils the company instead of investing in it! Peace.

Reference:

Dentons – ‘Report on Eskom’ (02.07.2015)

Confidential reports stern warnings about the Italian national bank debt ratio and possible damaging scenarios when restructuring it!

italianbank

The Astellon Capital Partners report on the Italian nation debt is troublesome, as the reports are indicating troubled waters ahead for controlling the debt and repayment on the defaulted loans. This will create other higher issues than only the Greek debt and interest-rates from Brussels and Berlin. The Italian and Rome problem will cause monetary effects for all of Europe, as the debt are like his:

“1980 –1995: Debt / GDP increased by 64%, due to high interest rates levied by Bank of Italy to fight inflation and promote exchange rate stability of Lira within European Monetary System, precursor to the Eurozone” (…)”1995 –2015: Debt / GDP increased by 11%, due entirely to debt servicing costs as Italy ran a primary fiscal surplus over this period” (Astellon Capital Partners, P: 2, 2017).

The continued pressure of the Italian debt is showed with the average primary balance since 1995 have been 2, 1% and the average interest costs of the GDP have been 5, 5%. “Italy among the most fiscally sound member states in the Eurozone, yet also among the most burdened by interest costs” (Astellon Capital Partners, P: 3, 2017).

These numbers are not really positive at all, as the high interest rate by the Bank of Italy together with the rise of debt servicing that increased 11% alone in a decade. That the Italian state have the amount of costs of interests amounting to 5,5% says lots of the economic pressure on the budgets and fiscal policies within the government structures. This does not like a prosperous and strong economic situation.

The report continues with more worrying numbers that the Italian labour costs are 11% higher than rest of the EU average. Certainly also that the average productivity of the labour are 12% lower than the Eurozone average. So you got higher paid workers that work less, which also isn’t strengthening the economy.

That the Italians bank’s they have deflated badly loans that has gone from under 5% in 2005 to the running value of close to 15% in 2016. So that the European Central Bank have bought into the government debt issuance: “2014 –2019: At current government debt net issuance rates and announced QE levels, ECB will have been responsible for financing 100% of Italy’s deficits from 2014 –2019”. This is if the debt is: “Assumes €50bn annual run-rate of government net debt issuance” (Astellon Capital Partners, P: 6, 2017). That is a hefty sum when considering all the other fiscal issues that already put forward.

“Substantial increase in non-bank net purchases of Italian debt required ECB and Italian Banks acquired 88% of government debt net issuance since 2008. Over next six years non-banks will need to increase purchase activity to 7x that of past nine years” (Astellon Capital Partners, P: 7, 2017). So a nation that struggles with high paid performance with low productivity are suddenly needed to get the workforce to 7 times higher purchase activity, meaning the production and selling has to increase seven-fold if the state should have ability to sustain the defaulted debt that has increased and the debt the ECB has bought. Together with the Italian Bank gold-reserve which is lower than the stated and needed figures to be sufficient. The bank has gold-reserves by today’s value about €100bn, but by the ECB agreement need to collateralised that needs to be up to €350bn. That the report claims to be only 25%; while the assets are dwindling too and that is also worrying!

The Assets have from 2011 gone from being around 0% or none, to 2016 when the assets of the Italian bank is now in 2016 -20%. Because this have come a German proposal to avoid an new Argentine Bank collapse case. As the Italian Bank are required independent assessments of debt sustainability.

The great risks for Italy and the Italian republic are these scenarios. Like the hedge funds can buy into with high risks and yields through BTP yields during the 2016-2017. Second scenario in 2018 is that the ECB or European Central Bank will be a marginal buyer of the government bonds and buying debts. Third scenario is that the Italian Banks becoming net-sellers and therefore losing their assets with less of profits in the 2016-2017. Last scenario is unilateral re-profiling or re-domination or some form of Greek-Haircuts by 2017-2018, that means trade-offs and cutting taxes to try to revamp the economy (Astellon Capital Partners, P: 21, 2017).

With these numbers and situation, there are certain men in ECB and in Italy that is worried. The strength and sovereign nation of Italy has to find ways of restructuring the debt and assets. What is certain is that the debtors cannot take it easy on this one. The Italian debts and reserves are worrying as the debt has to restructure and the focus on how the Italian republic has to get more productivity and create more production so the taxes and debt per GDP can go down. This will be painful for the Italian state and their government institutions, together with all the debt and bad-debt that the state has to cover, because the banks cannot afford to lose all of these fiscal funds. There have to be a revolution of something if the Italian republic and its workforce are able to 7 times higher purchase activity. That will not come easy and how they will ever achieve that must be by a unicorn arriving and spinning the Fiat wheels of Torino more than ever before; even getting the world more hooked on Milan fashion design or Illy coffee. Peace.

Reference:

Astellon Capital Partners – ‘Q1 2017 Notes No. 24 – Ciao a tutti: An orderly restructuring of Italian debt’

#ThisFlag: Evan Mawarire – “I’m so glad to be back home in Zimbabwe where I belong” (Footage)

“Thank you for your support and for speaking out for Zimbabwe. None of us should ever be intimidated into silence. This is our home and we have the full right to participate in making it a better country. Like we said in the beginning, HATICHADA, HATICHATYA! ASISESABI njalo ASISAFUNI! FED UP & NOT AFRAID!” (Mawarire, 10.02.2017)

President Trump: “Presidential Memorandum: Suspension of the Conflict Minerals Rule” – Legalizing export of questionable minerals from the DRC!

conflict-minerals-08-02-2017-p1conflict-minerals-08-02-2017-p2conflict-minerals-08-02-2017-p3

U.S. Republicans are now putting forward a law to terminate the EPA by 2018; because the Republicans want to pollute without consequence!

matt-gaetz

The Republicans under the Trump Administration are going all in. Their ideas are the wet-dream for Conservative Party, which wants to transform the laisses-faire, industrial wonderland, where waste, industrial waste and low-taxes can go side by side. The green-gases only belong in fairy-tales and in sagas of the liberals.

Therefore Republican representative Matt Gaetz from Florida is the sponsor of the bill; his co-Sponsors the Republican representatives are Thomas Massie of Kentucky, Steven M. Palazo of Mississippi and Barry Loudermilk of Georgia.

The Republicans doesn’t care about toxins in water or water-taps, therefore if Detroit or Flint Michigan is dangerous, it doesn’t’ matter, because this people should afford their own tap-water, not buy licenced water from the state. If they had wealth they should have dig for wells in their gardens and in the public housing, instead of trusting the state with deliverance in the modern age after the millennium. That is too much to upon the Republic Party.

The other reasons are for the diligent work of Environmental Protection Agency, when it comes to fracking and regulating of the gasses into the water, has been tormenting the agency, as they have backpedalled and their own internal document have proved differently from the study they delivered the public. The Pro-Fracking lobbyist has sometimes even persuaded the EPA to change their stance, as the real reports if their internal documents of 2015 where right. That all parts of fracking could cause all sorts of toxins, in waste-water, in the dirt and the nearby-taps; something the Republicans of our day doesn’t want to hear.

dakota-access-pipeline_path

However, EPA could also have intervened in the building petroleum pipelines like Keystone XL and Dakota Access Pipeline (DAPL). Where the reports could shadow the fact that pipes usually leaks and this could damage import forests and rivers through a dozens of states. The state could be seen with possibility of putting sanctions on the reopening of coal-mines and their waste in various states.

The EPA tried to keep regulatory actions on stuff like the Clean Care Act of 1990. Where the value of different toxins in the air if the Republicans would get their will would be doubled from 2010 to 2020; this values would for instances be Mortality Ozone values from 4300 to 7100. For instance Asthma Exacerbation in 2010 be 1,700,000 and in 2020 become 2,400,000. This proves how little they care for the environment, as long as it gives fortunes for the people who run the companies.

The financial industry and industry itself wants to earn cash and massive profits without care of environment, diseases or any sort of spill. Therefore the Republicans who are in the pockets of big-oil, big-tobacco or Wall Street don’t need the EPA. So with this in mind the Republicans are now not only silencing the EPA and wanting to edit their studies and reports on climate change, which in the mind of President Trump is a hoax.

epa-law

The 4 representatives are doing the business, the industry a favour, but not Mother Nature or the ones living in it. They want to make sure the ones creating waste-lands and all the pollution as the polluters are free men without any charges. The Industry and the ones extracting resources don’t have to fear the state or government bodies, as they might not even exist. They don’t need to force their jobs into regulations that are costly as they can just drill, extract or even use the worst methods to get the gases, petroleum or coal.

Certainly, the Republicans when they have raised the water-levels above the 51st street of Manhattan, when they have destroyed the lakes and rivers of Middle-America. Than the riches can move to Liechtenstein with the rest of the Alt-Right Banonesque government official existing! Peace.

Another Proposed Anti-Immigrant Executive Order from Trump; where he offers a Deportation Force and aggressively attacking the Non-U.S. Citizens!

vlgff4z

Some would think that Five Executive Orders on Immigration would be enough, even if only two of them is signed already, yet another leaks from the White House, which proves the hatred in the Alt-Right Government for the foreign workers and immigrants arriving in the United States of America. Republican Party under President Donald J. Trump will be unfriendly to anyone who doesn’t fit his perimeter of decent vetted immigrants. So with that in mind, there been another one. Just like DJ Khaled, here is another one!

“Sec. 2. Policy. It is the policy of the executive branch to:

“(b) Make use of all available systems and resources to ensure the efficient and faithful execution of the immigration laws of the United States;

(c) Ensure that jurisdictions that fail to comply with applicable Federal law do not receive Federal funds, except as mandated by law;

(d) Ensure that aliens ordered removed from the United States are promptly removed; and

(e) Support victims, and the families of victims, of crimes committed by removable aliens” (White House, 2017).

The ones that will be sorted out by this executive order:

“(a) Have been convicted of any criminal offense;

(b) Have been charged with any criminal offense, where such charge has not been resolved;

(c) Have committed acts that constitute a chargeable criminal offense;

(d) Have engaged in fraud or willful misrepresentation in connection with any official matter or application before a governmental agency;

(e) Have abused any program related to receipt of public benefits;

(f) Are subject to a final order of removal, but who have not complied with their legal obligation to depart the United States; or

(g) In the judgment of an immigration officer, otherwise pose a risk to public safety or national security” (White House, 2017).

As there we’re another one where the Aliens and Immigrants we’re not supposed to be a “public-charge”, here if they ever stole a bottle of milk or has committed wrongful parking, they can be deported. Certainly the drug-dealers and drug transporters through Arizona, New Mexico and Texas will be taken, but there are others who have committed less crimes and less of frauds than the President himself. The clear definition if they are has committed crimes, they are deemed to be seen as illegal criminals. Therefore the Trump Administration can give them a FINAL ORDER of REMOVAL, which by all definition means deporting the fellow human being from the Republic.

Just to make sure the State has people enough to deport them:

“Sec. 7. Additional Enforcement and Removal Officers. The Secretary, through the Director of U.S. Immigration and Customs Enforcement, shall, to the extent permitted by law and subject to the availability of appropriations, take all appropriate action to hire 10,000 additional immigration officers, who shall complete relevant training and be authorized to perform the law enforcement functions described in section 287 of the INA (8 U.S.C. 1357)” (White House, 2017).

Because 10,000 Federal Deportation Force will bring back the good old days, where they will start up their own Deportation Agency and find the aliens in their homes and get them evicted. First detained, registered and then sent away to where they fled from. Even if US Government does this, it will be own system of oppression as of who is the rightful alien and who is the subject that the U.S. government can remove.

“Sec. 9. Sanctuary Jurisdictions. It is the policy of the executive branch to ensure, to the fullest extent of the law, that a State, or a political subdivision of a State, shall comply with 8 U.S.C. 1373.

(a) In furtherance of this policy, the Attorney General and the Secretary, in their discretion and to the extent consistent with law, shall ensure that jurisdictions that willfully refuse to comply with 8 U.S.C. 1373 (sanctuary jurisdictions) are not eligible to receive Federal grants, except as deemed necessary for law enforcement purposes by the Attorney General or the Secretary. The Secretary has the authority to designate, in his discretion and to the extent consistent with law, a jurisdiction as a sanctuary jurisdiction. The Attorney General shall take appropriate enforcement action against any entity that violates 8 U.S.C. 1373, or which has in effect a statute, policy, or practice that prevents or hinders the enforcement of Federal law.

(b) To better inform the public regarding the public safety threats associated with sanctuary jurisdictions, the Secretary shall utilize the Declined Detainer Outcome Report or its equivalent and, on a weekly basis, make public a comprehensive list of criminal actions committed by aliens and any jurisdiction that ignored or otherwise failed to honor any detainers with respect to such aliens.

(c) The Director of the Office of Management and Budget is directed to obtain and provide relevant and responsive information on all Federal grant money that currently is received by any sanctuary jurisdiction” (White House, 2017).

So with this in mind, the ones who don’t follow Attorney General Orders and will sanction the state that does not comply with the new regulation and law concerning deportation of aliens. So they cannot get federal grants for security and law enforcement in the states that don’t follow procedure. The State and Federal State will from now on inform the public on the comprehensive list of illegal activity that the aliens are doing.

The Immigrants and Aliens are the one they are searching for indeed, when seeing this:

Sec. 14. Privacy Act. Agencies shall, to the extent consistent with applicable law, ensure that their privacy policies exclude persons who are not United States citizens or lawful permanent residents from the protections of the Privacy Act regarding personally identifiable information” (White House, 2017).

United States Citizens or lawful permanent residents are the one not connected with this Executive Order. The U.S. Government can and will use identifiable information to inform the public of the existence of aliens and immigrations, illegal and the ones who are criminal intent on U.S. soil. These are the ones that new 10,000 deportation force agency is working to use the new applicable law.

The 10,000 officers will also secure this:

“Sec. 16. Transparency. To promote the transparency and situational awareness of criminal aliens in the United States, the Secretary and the Attorney General are hereby directed to collect relevant data and provide quarterly reports on the following:

(a) the immigration status of all aliens incarcerated under the supervision of the Federal Bureau of Prisons;

(b) the immigration status of all aliens incarcerated as Federal pretrial detainees under the supervision of the United States Marshals Service; and

(c) the immigration status of all convicted aliens incarcerated in State prisons and local detention centers throughout the United States” (White House, 2017).

undocumented-worker-industry-concentration

So with that in mind, the Attorney General will also make sure all Aliens and Immigrants in prison are reported off, surely for the purpose of deportation. Not to make sure they could be a positive influence on society. If that was the cause and reason, they would not be singled out so significantly and also punishing the states with less federal grants for law enforcement if they didn’t comply with the Executive Order.

With this in mind, this is the Executive or President Trump keeping another promise. If it is any good or justified, I don’t think so. The beneficiary of this one will not be law enforcement or the states. The black-market and industries benefitting from illegal immigrants are the ones hiring day-to-day farm labour and other businesses, these will lack the uneducated workforce that they have today. This might give work to more America citizens; still this is low-payed jobs without unions and is rapid, seasonal even. Low payed that are based on tips and not hourly paid. Would the American public go for these, when they are used to aliens and immigrants taking them so they don’t have to. Peace.

Reference:

White House – ‘ENHANCING PUBLIC SAFETY IN THE INTERIOR OF THE UNITED STATES’ (25.01.2017)

A look into the proposed International Contribution to the National Budget of Uganda for the Financial Year 2017/2018

Mengo Hospital needs funds

There are many budget posts in a National Budget, but as there are talk of lacking international support of the budget in the Republic of Uganda. The certainty is that even as the donors are fleeing the National Resistance Movement (NRM) and the President Museveni own way of saying he doesn’t need them. Still, I want to show the world collectively what the NRM government have donor sponsored projects through the National Budget, these are projects and development of infrastructure that the NRM needs to show something after over 30 years reign.

Like take Japan the donor funding to the Northern Uganda Farmer Livelihood Improvement Project in the next Financial Year gives to the project Ush. 31.33bn. also donate funds to is the Nakawa TVET Lead Project got Ush. 4.69bn. Japan also donates to Kampala Flyover Construction and Road Upgrading Project with Ush. 155.44bn.

World Bank itself is donating funds in different ways to two other projects, which is African Centeres of Excellence that got Ush. 13.36bn. and Albertine Region Sustainable Development got Ush. 9.35bn. On the other hand the Kingdom of Saudi Arabia donated to the Construction of 5 Regional Technical Institutes with funds of Ush. 6.98bn.

Belgium has also offered their donor funds into the Ugandan state through various projects, like the Program/Project Support to Improve the Quality of Teaching and Learning with Ush. 11.97bn. also the Rehabilitation of the National Teacher Training Centre Kaliro allocated Ush. 15.16bn, they also gave to Rehabilitation of the National Teacher Training Centre Muni funds of Ush. 15.16bn. another project that Belgium was behind is the Support to the Implementation of Skilling Uganda with Ush. 15.96bn.

The Democratic People’s Republic of China has donated to new development projects in Uganda, like they are donating to Industrial Substations Ush. 91.74bn. they also donated to Isimba Hydro Power Plant Ush. 407bn. and also  Karuma Hydro Power Plant where they have pledged Ush. 1,305.07bn. or Ush. 1.3 trillion to that alone! The Chinese is also involved in Entebbe Airport Rehabilitation where they have funded Ush. 148.13bn. the pledged funds for Standard Gauge Railway will first come next Financial Year 2018/2019 and not this financial year.

African Union (AU) funds to the UPDF Peace Keeping Mission in Somalia with total Ush. 256.66bn. United Kingdom pledged funds to the Road Infrastructure for Delivery of First Oil with Ush. 252.63bn.

The pledged funds for Kampala-Jinja Highway are first for FY 2018/2019, but no official donor or loaner of funds. Therefore the estimated funds come from thin air. What is also relevant is to see that the Funds from Austria and Denmark has been suspended for different development projects. Still, which I haven’t mentioned is the funds from African Development Bank, also GAVI and Global Funds still gives to health care development, even with the knowledge of the rampant corrupt behaviour in the Ministry of Health.

Therefore if the NRM are contemplating that they are themselves giving these sorts of projects to the people, I hope the donors are putting up boards or signs in the entrance or hallways, even start of the roads where it says what sort of amount of funds they spent on it. So that President Museveni or any other crony can take all the credit, because the credit and the footing the bill to somebody else! Peace.

Koch Brothers revelead through the ‘Freedom Partners’ a plan to repeal laws under the Trump Presidency!

trump-pence-and-the-kochs

In American politics there have in the recent years been families intervening with their Super-PACs and their lobbyist to get their legislation through both U.S. Congress and House of Representatives, as well making sure the Supreme Court are accepting it. Than you have this one industrial family, the Koch brothers David and Charles that has involved themselves in politics and engaged in donating campaign funds to dozens of Republican candidates over the years. These have in return delivered legislation that the Koch brothers industries have profited on.

The Super-PAC named “Freedom Partners” set in plan how the Trump Presidency could repeal and make sure the legislation of Obama administration get away. So the leniency and corporate freedoms get back as it was before. Since this legislation has hampered the ability to gain vast profits on destroying the planet and giving minimum salaries to their employees. Something industrialists like Koch brothers wants more off and not just behaviour from the Federal Government.

Therefore the newest document shows certain aspects of their wish-list of how a Trump Presidency should be:

“• Executive Actions and Proposed Regulations: President-elect Trump can unilaterally rescind any executive action signed by President Obama or proposed regulations that have yet to be finalized, including, but not limited to:

  • Executive order establishing a task force on commercial advocacy
  • Executive order putting a moratorium on new federal coal leases
  • Presidential memorandum requiring new federal overtime rule promulgation
  • Paris Climate Agreement requiring greenhouse gas emissions reductions
  • Proposed Environmental Protection Agency (EPA) programs incidental to the Clean Power Plan
  • Proposed Consumer Financial Protection Bureau (CFPB) payday and vehicle title loan rules
  • Proposed CFPB arbitration rules
  • Regulations Finalized On or After June 13, 2016: Under the Congressional Review Act (CRA), Congress can avoid a Senate filibuster to repeal all regulations finalized during the last 60 legislative days, with June 13, 2016, being the cutoff date.

Congress should prioritize the following:

  • Final Stream Protection Rule regarding coal mine permitting
  • Bureau of Land Management (BLM) federal lands Methane Rule
  • Environmental Protection Agency (EPA) Renewable Fuel Standard (RFS): 2017 and 2018 obligations
  • EPA Greenhouse Gas Emissions Standards: Medium- and Heavy-Duty Engines and Vehicles” (Freedom Partners – ‘A ROADMAP TO REPEAL: REMOVING REGULATORY BARRIERS TO OPPORTUNITY’ – 05.01.2017).

That the Executive orders are coming in and making sure that the economic freedoms of corporations is extended and the limitations of former put legislation are repealed. So that the powerful and rich men which are the core base with core principals of the Trump Administration get their will. Therefore the Koch Brothers and their campaign through this Super-PAC are already achieved.

The like memorandum on the Fiduciary Duty that we’re signed in on the 3rd February, which stated: 

“Section 1. Department of Labor Review of Fiduciary Duty Rule. (a) You are directed to examine the Fiduciary Duty Rule to determine whether it may adversely affect the ability of

Americans to gain access to retirement information and financial advice. As part of this examination, you shall prepare an updated economic and legal analysis concerning the likely impact of the Fiduciary Duty Rule, which shall consider, among other things, the following:

(i) Whether the anticipated applicability of the Fiduciary Duty Rule has harmed or is likely to harm investors due to a reduction of Americans’ access to certain retirement savings offerings, retirement product structures, retirement savings information, or related financial advice;

(ii) Whether the anticipated applicability of the Fiduciary Duty Rule has resulted in dislocations or disruptions within the retirement services industry that may adversely affect investors or retirees; and

(iii) Whether the Fiduciary Duty Rule is likely to cause an increase in litigation, and an increase in the prices that investors and retirees must pay to gain access to retirement services” (White House – ‘MEMORANDUM FOR THE SECRETARY OF LABOR SUBJECT: Fiduciary Duty Rule’ – 3rd February 2017).

These here is simply put order where Trump is putting in place less legislation and regulation on banking sector where they trade financial instruments to costumers, the citizens and the ones beholden the retirement funds. These are now set in place in a way where the advice from bankers are put so they get legal advice they see fit for their situation and not for what the banks earn the most on each client. With the new legislation, the bankers can in general sell bad investment portfolios to costumers and gain massive fortunes on the bad investments. This is what the Koch Brothers wants to achieve through their PAC.

Than you have the other latest Executive order which state this:

Section 1. Policy. It shall be the policy of my Administration to regulate the United States financial system in a manner consistent with the following principles of regulation, which shall be known as the Core Principles:

(a) empower Americans to make independent financial decisions and informed choices in the marketplace, save for retirement, and build individual wealth;

(b) prevent taxpayer-funded bailouts;

(c) foster economic growth and vibrant financial markets through more rigorous regulatory impact analysis that addresses systemic risk and market failures, such as moral hazard and information asymmetry;

(d) enable American companies to be competitive with foreign firms in domestic and foreign markets;

(e) advance American interests in international financial regulatory negotiations and meetings;

(f) make regulation efficient, effective, and appropriately tailored; and

(g) restore public accountability within Federal financial regulatory agencies and rationalize the Federal financial regulatory framework” (White House – ‘CORE PRINCIPLES FOR REGULATINGTHE UNITED STATES FINANCIAL SYSTEM’ – 3rd February 2017).

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This is where you see that the business oriented President Trump has put in place two different sort of orders, with the outcome of deregulating the financial industry, the ones trading and selling financial advice to their costumer’s, the other where they are focused of giving the financial decisions directly to the companies. Hereby giving the full power of all instruments to the financial industry and their corporations, that instead of regulating the financial and fiscal regulations that could stop the economy from cracking; with none or lose regulation could give the enterprises a free will that could led them to bubbles. First it would give enormous souring profits, but after the bubble burst the recession and cause massive loses to all citizens who invested in speculative business.

Koch brothers are surely having a wish-list that is starting to be achieved as even coal-legislation has been mentioned to be voted in the U.S. Congress. Therefore the plans of the Freedom Partners and the steps to repeal the regulations of Obama will cease to exist. This is certainly to vanish the print of legislation that we’re for common good and not only for corporate greed.

Step two of the Wish-list of the Koch Brothers we’re these:

“STEP 2. LONGER-TERM OPPORTUNITIES

All other regulations passed before June 13, 2016 can be repealed in at least one of three ways.

  • Executive Rulemaking, Legislation to Rescind or Defund, and Judicial Challenges. These are time-consuming processes that should begin immediately. President-elect Trump and Congress should prioritize the following:
  • EPA Rule defining The Waters of the United States
  • EPA Clean Power Plan
  • HHS Electronic Health Record Incentive Program
  • HHS Establishment of Exchanges and Qualified Health
  • DOL Overtime Rule
  • DOL Fiduciary Rule
  • FCC “Net Neutrality” Rule
  • USDA Calorie Labeling for Vending Machines” (Freedom Partners – ‘A ROADMAP TO REPEAL: REMOVING REGULATORY BARRIERS TO OPPORTUNITY – 05.01.2017)

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The Koch brothers with their plans are certainly set into plan or has least showed to the transitional team, as the legislation for certain aspects are put into action. So the plans to achieve their needed lesser legislation and lassies-faire economy are surely on their way. They have already started and the Freedom Partners PAC is effective. What the world should wonder about, what the PAC gave the Trump Administration since they are obliging them so magnificently. Secondly, what did the PAC to do the Republican Congressmen and Senators to gain their votes and get them to enact bills that they want to see?

We can question the power of the Koch Brother can be shown here, as the Republican have succumbed to the will of donors, instead of caring of the U.S. people wish to see. That can be seen as the legislation of late is friendlier of corporations than of the will of people. This will continue under businessman Trump and his running mates in cabinet. Trump Administration might deliver on more of this list of the Koch brothers. As they have started already. This can only indicate what the Trump administration will continue to strive towards as their ally and friendly future donor might want more legislation to pass or to be repealed to secure vast fortunes. Peace.

Opinion: the Brexit White-Paper is a sleek scone, but not offering the public a decent meal!

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The Tories or the Conservative Party, the ruling party in the United Kingdom after the European Union referendum election in 2016, has finally delivered a White Paper on their guesses and wishes for a leaving of the union for the Kingdom of United Kingdom. The UK Government are now furnishing their ideas and their wanted discussions with the partners on the continent. The EU might take this differently than the rest, but surely the 12 Point plan of the White Paper gives indications to what the Tories want to achieve in negotiations. That is something that has been in the winds for months after the sudden victory of the Brexit election.

First Point – Providing certainty and clarity:

To provide legal certainty over our exit from the EU, we will introduce the Great Repeal Bill to remove the European Communities Act 1972 from the statute book and convert the ‘acquis’ – the body of existing EU law – into domestic law. This means that, wherever practical and appropriate, the same rules and laws will apply on the day after we leave the EU as they did before” (HM Government, P: 9, 2017).

Second Point – Taking control of our own laws:

“The sovereignty of Parliament is a fundamental principle of the UK constitution. Whilst Parliament has remained sovereign throughout our membership of the EU, it has not always felt like that. The extent of EU activity relevant to the UK can be demonstrated by the fact that 1,056 EU-related documents were deposited for parliamentary scrutiny in 2016. These include proposals for EU Directives, Regulations, Decisions and Recommendations, as well as Commission delegated acts, and other documents such as Commission Communications, Reports and Opinions submitted to the Council, Court of Auditors Reports and more” (HM Government, P: 13 ,2017).

Third Point – Strengthening the Union:

“We have ensured since the referendum that the devolved administrations are fully engaged in our preparations to leave the EU and we are working with the administrations in Scotland, Wales and Northern Ireland to deliver an outcome that works for the whole of the UK. In seeking such a deal we will look to secure the specific interests of Scotland, Wales and Northern Ireland, as well as those of all parts of England. A good deal will be one that works for all parts of the UK” (…) “As the UK leaves the EU, the unique relationships that the Crown Dependencies of the Isle of Man and the Channel Islands and the Overseas Territories have with the EU will also change. Gibraltar will have particular interests, given that the EU Treaties apply to a large extent in Gibraltar, with some exceptions (for example, Gibraltar is not part of the Customs Union)” (HM Government, P: 17-20, 2017).

Fourth Point – Protecting our strong and historic ties with Ireland and maintaining the Common Travel Area:

“The relationship between the two countries has never been better or more settled than today, thanks to the strong political commitment from both Governments to deepen and broaden our modern partnership. Two recent State Visits, by Her Majesty The Queen in May 2011 and by President Higgins in April 2014, have helped cement this partnership; no one wants to see a return to the borders of the past. The Prime Minister is committed to maintaining the closest of ties and has already met the Taoiseach several times since taking office, most recently in Dublin in January 2017” (…) “We recognise that for the people of Northern Ireland and Ireland, the ability to move freely across the border is an essential part of daily life. When the UK leaves the EU we aim to have as seamless and frictionless a border as possible between Northern Ireland and Ireland, so that we can continue to see the trade and everyday movements we have seen up to now” (…) “We will work with the Irish Government and the Northern Ireland Executive to find a practical solution that recognises the unique economic, social and political context of the land border between Northern Ireland and Ireland. An explicit objective of the UK Government’s work on EU exit is to ensure that full account is taken for the particular circumstances of Northern Ireland. We will seek to safeguard business interests in the exit negotiations. We will maintain close operational collaboration between UK and Irish law enforcement and security agencies and their judicial counterparts” (HM Government, P: 21-23, 2017).

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Fifth Point – Controlling immigration:

“We are considering very carefully the options that are open to us to gain control of the numbers of people coming to the UK from the EU. As part of that, it is important that we understand the impacts on the different sectors of the economy and the labour market. We will, therefore, ensure that businesses and communities have the opportunity to contribute their views. Equally, we will need to understand the potential impacts of any proposed changes in all the parts of the UK. So we will build a comprehensive picture of the needs and interests of all parts of the UK and look to develop a system that works for all” (…) “Implementing any new immigration arrangements for EU nationals and the support they receive will be complex and Parliament will have an important role in considering these matters further. There may be a phased process of implementation to prepare for the new arrangements. This would give businesses and individuals enough time to plan and prepare for those new arrangements” (HM Government, P: 27 , 2017).

Sixth Point – Securing rights for EU nationals in the UK, and UK nationals in the EU:

“Securing the status of, and providing certainty to, EU nationals already in the UK and to UK nationals in the EU is one of this Government’s early priorities for the forthcoming negotiations. To this end, we have engaged a range of stakeholders, including expatriate groups, to ensure we understand the priorities of UK nationals living in EU countries” (HM Government, P: 30, 2017).

Seventh Point – Protecting workers’ rights:

“As we convert the body of EU law into our domestic legislation, we will ensure the continued protection of workers’ rights. This will give certainty and continuity to employees and employers alike, creating stability in which the UK can grow and thrive” (HM Government P: 31, 2017).

Eight Point – Ensuring free trade with European markets:

“Close trading relationships with the EU exist across a range of sectors. The UK is a major export market for important sectors of the EU economy, including in manufactured and other goods, such as automotives, energy, food and drink, chemicals, pharmaceuticals and agriculture. These sectors employ millions of people around Europe” (…) “Producers in other EU Member States also rely on UK firms in their supply chains and vice versa. The integration of supply chains, which also benefits the UK, means that the UK often contributes a significant share of the foreign content in the EU countries’ exports” (…) “The EU is a party to negotiations on the Trade in Services Agreement (TiSA) with more than twenty other countries. The UK continues to be committed to an ambitious TiSA and will play a positive role throughout the negotiations” (…) “As we leave the EU, the Government is committed to making the UK the best place in the world to do business. This will mean fostering a high quality, stable and predictable regulatory environment, whilst also actively taking opportunities to reduce the cost of unnecessary regulation and to support innovative business models” (…) “After we have left the EU, we want to ensure that we can take advantage of the opportunity to negotiate our own preferential trade agreements around the world. We will not be bound by the EU’s Common External Tariff or participate in the Common Commercial Policy” (HM Government, P 37:-38, 42, 45-46, 2017).

Ninth Point – Securing new trade agreements with other countries:

“After leaving the EU, the UK will build on these strengths and our historic role as a global trading nation to realise the opportunities available to us. By boosting trade and opening markets and attracting the world’s most successful companies to invest in the UK, we will create jobs and enhance productivity and GDP. Increasing competition and encouraging businesses to innovate enables suppliers to access higher quality and cheaper products in their supply chain and gives consumers more choice and lower prices” (HM Government, P: 54, 2017).

Tenth Point – Ensuring the United Kingdom remains the best place for science and innovation:

“For example HM Treasury has announced that researchers should continue to bid for competitive EU research funding, such as Horizon 2020, while the UK remains a member of the EU. The Government will work with the European Commission to ensure payment when funds are awarded and HM Treasury will underwrite the payment of such awards, even when specific projects continue beyond the UK’s departure from the EU. This has given UK participants and their EU partners the certainty needed to plan ahead for projects that can run over many years” (HM Government, P: 58, 2017).

Eleventh Point – Cooperating in the fight against crime and terrorism:

“As we exit, we will therefore look to negotiate the best deal we can with the EU to cooperate in the fight against crime and terrorism. We will seek a strong and close future relationship with the EU, with a focus on operational and practical cross-border cooperation. We will seek a relationship that is capable of responding to the changing threats we face together. Public safety in the UK and the rest of Europe will be at the heart of this aspect of our negotiation” (HM Government, P: 62, 2017).

Twelfth Point – Delivering a smooth, orderly exit from the EU:

“We will formally trigger the process of leaving the EU by invoking Article 50 of the Treaty on European Union no later than the end of March this year. As set out in Article 50, the Treaties of the EU will cease to apply to the UK when the withdrawal agreement enters into force, or failing that, two years from the day we submit our notification, unless there is a unanimous agreement with the other 27 Member States to extend the process” (HM Government P: 65, 2017).

Old Game Brexit Meme

My first words after reading the report is that the United Kingdom His Majesties Government White Paper on the Brexit is a leaflet of lose information. This isn’t a sophisticated and a paper that explain the reality of the negotiations. This is the wish-list of the Conservative Party or the Tories who reign for the moment at White Hall under Prime Minister Theresa May.

To say this 77 pages report is digging deep into the extent and the needed details of Brexit is not true. If the Government wanted to be transparent and be accountable on the negotiations or even show the world their play, they would have dropped more intelligence or even more prolific framework on how they would or could negotiate.

If you are thinking that the United Kingdom government will get it all like today and still be not inter-connected as a Member State in the European Union, you’re terribly wrong. The EU has said themselves they will negotiate hard and not make UK get off cheap. It is the UK who has all too loses in the trade-off as the UK cease to be Member State. They might need each other, but it is UK who might lose the heartland of their trade and their exports. The EU can use other trading agreements to secure same sort of services as before.

The only thing other than the punchlines I got from the White Paper today, we can wonder what the Tories and Theresa May didn’t want to release, what they cut out of the paper and for what reasons? If we only knew why the secrecy and the ligancy of trust to the Public, like May knows her borrowed trust cannot handle being manhandled by the European Union. EU certainly would have a field-day on open-communications between the UK and its citizens. The same can be said with the EU MEPs are not really those who are transparent or that open to the public with information from Brussels.

The UK can feel to be shadowed and be kept in dark by the ones who are representing them; they should not trust the Tories with this sort of craft and this offering to the public. If the Brexit is hard/weak or even Red/White/Blue Brexit; Certainly PM May has no interest in trusting advice or listening to other before negotiation the new uncertain agreement with Brussels/EU. If it would be otherwise the Tories and Government would have offered more flesh on the bone and served a steak that could call food, instead we’re offered a sleek thin scone with no flavour what-so-ever! Peace.

Reference:

HM Government – ‘The United Kingdom’s exit from and new partnership with the European Union’ (02.02.2017)