TNT

  In TNT 

Harambe: The Zimbabwean:   Hardships Driving Zimbabweans To Flee The Country

(12/27/20)

It is hard to celebrate International Migrants Day without highlighting the number of Zimbabweans who have migrated to other countries in the last two decades, particularly South Africa, Botswana, and Namibia. Thousands of Zimbabweans have crossed Limpopo River with crocodiles into South Africa, putting a strain on public services in South Africa.

It is terrifying that an estimated seven million Zimbabweans have fled to other countries, with most going over to South Africa. The pattern of migration from Zimbabwe has been caused by poor governance and mismanagement of the country’s resources.

South Africa is now home to an estimated five million Zimbabweans. The South African president should earnestly and diligently raise this issue with Zimbabwe in order to stop the continuous flow of Zimbabweans into South Africa.

If the South African president remains silent about the human rights issues in Zimbabwe and economic meltdown, then South Africa may soon be overwhelmed by another three million Zimbabweans in the next five years.

South Africa has enough problems of its own to deal with, from high unemployment, crime and poor public services, and cannot be forced to endure more strain and be burdened indirectly by a neighbouring country. The government in Zimbabwe needs to pull its act together and provide for its citizens so they don’t have to flee to other countries.

https://www.thezimbabwean.co/2020/12/hardships-driving-zimbabweans-to-flee-the-country/

Harambe:  Jakarta Post: Indonesia’s economy to improve soon

(12/27/20)

Indonesia’s economic situation is expected to improve soon, as the government is preparing a number of recovery plans, Coordinating Economic Minister Airlangga Hartanto has said. During a virtual discussion entitled “Outlook 2021: Wajah Indonesia Setelah Pandemi” (How Indonesia will look after the pandemic) on Thursday, Airlangga said he believed that the nation’s economy had started to pick up. “The signs are already here. The [COVID-19] vaccine’s arrival will increase the public’s confidence and sense of security, which should lead them to restarting their activities.

The economy is closely related to [people’s] mobility,” he added. The minister claimed that Indonesia even managed to control the economic impact of the pandemic better than other G20 members. Indonesia recorded a gross domestic product (GDP) drop of 3.5 percent year-on-year (yoy) in the July-September period that sent the country into its first recession since the 1998 Asian financial crisis.

The contraction however was less severe than the 5.3 percent yoy decline seen in the second quarter. Despite the economic optimism, Airlangga assured the public that the government would prioritize health care, saying that it had allocated a large portion of the 2021 state budget for the nation’s health sector, including the national vaccination drive.

“The government has allocated between Rp 63 trillion [US$4.4 billion] and Rp 73 trillion to support the vaccination program,” he said. In order to improve the economic situation, the government has also launched social protection programs to boost people’s purchasing power.

Airlangga explained the government had allocated Rp 48.8 trillion to assist the small enterprise sector in 2021. Meanwhile, Finance Minister Sri Mulyani Indrawati said last week that the government projected a GDP contraction of between 1.7 and 2.2 percent this year driven by shrinking household spending, which accounts for more than half of Indonesia’s GDP.

This figure was lower than the ministry’s previous forecast in September, in which the government predicted an economic contraction of 0.6 to 1.7 percent. “We expect household spending to contract by around 2.6 to 3.6 percent due to rising COVID-19 cases in December that triggered tighter restrictions,” Sri Mulyani said during a Dec. 21 virtual press briefing.

The Asian Development Bank (ADB) and World Bank have also lowered their projections for Indonesia’s economy in 2020. Both institutions expect Indonesia’s economy to contract by 2.2 percent this year, as opposed to previous forecasts of a GDP contraction of 1 and 1.6 percent, respectively.

Sri Mulyani went on to say that she also expected investment, which serves as one of the major contributors to Indonesia’s GDP, to contract this year. “We expect investment to shrink at about 4.4 to 4.5 percent in 2020,” she said.

However, she believes that the contraction of investment in the fourth quarter will improve to around 4 to 4.3 percent, from the negative 6.5 percent recorded in the third quarter, following increasing sales of commercial vehicles as well as capital goods imports.

http://www.thejakartapost.com/news/2020/12/27/indonesias-economy-to-improve-soon-minister-airlangga.html

***********

BobinFanti:  CBI is saying 1460 Our dollar in 2003 is valued at $1.41 today. To revalue Iraq must start at the 2003 value and adjust for today.

Yada:  When we think about it, the process started before Christmas. The process in that of decreasing the value of the dinar in order to later increase it. This accounts for the 10 gap in the Kuwait RV as well as the 3 day gap in the Chinese RV.

************

ShybabyEconomist calls for the removal of the three zeros from the dinar to strengthen the local currency

Economist Raad Twigg called on the central bank to remove the three zeros from the dinar to strengthen the local currency.

“It is well known that the monetary mass in circulation is about 60 trillion dinars, which is what is available to the Central Bank of Iraq and to the banks and the public, which is a large monetary bloc compared to the economic transactions of the Iraqi economy, and that a large proportion of this bloc is suffering from hoarding, and therefore this does not help the Central Bank of Iraq to draw an effective monetary policy, calling on the central bank to delete three zeros or gradually delete the zeros to make the value of the dinar appear to be higher value and that the calendar and monetary balance will form rapidly in the market economy,” twig said.

He added: The monetary bloc can become about 15 to 25 trillion dinars and the value of the new dinar will converge to the value of the dollar, which facilitates the process of accounting and allows small and new monetary groups to appear in the monetary

market.

Iraq News (thebaghdadpost.com)