Thursday, May 15, 2025

BRACING FOR HARD ECONOMIC TIMES

 


IMF terminates EFC Program with Malawi government due to corruption; waits new govt in September to renew the program 


We are now in self inflicting economic mood as IMF has terminated $175 million ( K306 billion) Extended Credit Facility (EFC) that was meant to restore macroeconomic stability and boost investor confidence in the country.


There will be no forex cushion for government as well until elections are conducted in September.


Reads the statement in part: "The programme faced a number of exogenous shocks which made it difficult for the supply side to assist both increased revenue and enhanced production. 


"This resolution allows the political environment necessary for the progression of the ECF programme to normalize as is expected after the elections in September, 2025, thus enabling government to leverage it's fresh electoral mandate in negotiating a more sustainable extended credit facility package for Malawi's macroeconomic stability going forward."

Sunday, May 11, 2025

WESTERN LEADERS AGREE UNCONDITIONAL CEASEFIRE IN UKRAINE

Leaders of major Western nations, including the United States, issued a unified demand on Saturday calling on the Kremlin to implement an immediate and unconditional 30-day ceasefire in Ukraine, set to begin on May 12.


The coordinated appeal comes amid mounting humanitarian concerns, surging civilian casualties, and escalating hostilities that continue to destabilize the region.


The proposed ceasefire aims to provide urgent relief to war-torn areas, particularly those enduring relentless shelling and restricted access to essential resources such as food, water, and medical aid.


Western leaders underscored that the truce must be unconditional—firmly rejecting any preconditions or negotiations that could legitimize Russia’s ongoing aggression.


“If the Kremlin fails to comply,” the leaders warned, “we will strengthen sanctions against Russia’s banking and energy sectors.”


Such a move would significantly increase economic pressure on Moscow, targeting core revenue streams that fund its military operations.


The joint statement represents a pivotal moment in international diplomacy, signaling a more assertive and coordinated stance against Russia’s invasion. By tying compliance to the threat of tougher sanctions, Western powers aim to compel the Kremlin to de-escalate or face deeper isolation from global financial systems.


Ukrainian President Volodymyr Zelensky welcomed the announcement, expressing gratitude for the unity shown by Ukraine’s allies.


“We together demand this from Russia, and we know the United States supports us in this,” Zelensky said, reaffirming the strength of transatlantic solidarity.


His remarks echoed Ukraine’s longstanding appeal for a rules-based international order and the defense of national sovereignty in the face of foreign aggression.


The United States, a leading provider of military and humanitarian aid to Ukraine, reiterated its alignment with European allies, reinforcing the legitimacy and urgency of the ceasefire demand.


In Moscow, Kremlin officials responded defiantly, defending their military campaign and accusing the West of inflaming the conflict through ongoing military support for Kyiv.


Analysts suggest the ceasefire could serve as a vital opportunity for renewed diplomacy—or at the very least, a humanitarian window to evacuate civilians and deliver aid to embattled communities. Still, there are concerns that Moscow may interpret the ceasefire as a tactical pause rather than a step toward genuine de-escalation.


Should Russia reject the proposal, the promised sanctions could have sweeping effects. Sanctions targeting the banking and energy sectors would cripple crucial pillars of the Russian economy. The energy industry, in particular, is a key source of state revenue, and stricter penalties could send shockwaves through global oil and gas markets.


Meanwhile, financial sanctions would restrict Russia’s access to international capital, hinder banking transactions, and deepen the economic burden on ordinary citizens already grappling with inflation and shortages.


Despite these risks, Western leaders insist that a firm response is necessary to uphold international law and protect the principles of sovereignty and territorial integrity.


As May 12 approaches, global attention will be focused on Russia’s next move—either toward compliance and potential de-escalation or defiance and further economic isolation.


The situation in Ukraine continues to challenge global alliances, test diplomatic resolve, and underscore the fragile state of peace in an increasingly polarized world.



Friday, May 9, 2025

PUTIN,TRAORE CEMENTS TIES

 PRESIDENT PUTIN TELLING IBRAHIM TRAORE:

" You are my son , and take me like your father. Anyone who tries to touch you has touched me too. I will be watching you grow and I will protect you like my son. Whenever you need help , find me..."- President Putin of Russia 


- The President of Africa Ibrahim Traore is growing stronger and stronger .




GHANA, S PRESIDENT MAHAMA WALKING THE TALK

By Masauko Alfred Mzongwe  In a bold cost-cutting move, President of Ghana John Dramani Mahama has scrapped all fuel allowances and allocati...