19, December 2018
Southern Cameroons Genocide: IMF announces more money to Biya’s regime 0
On December 17 the International Monetary Fund announced more money to Paul Biya’s government, while not answering Inner City Press question about Biya losing the African Cup of Nations on which the IMF relied. The December 17 announcement: “The Executive Board of the International Monetary Fund (IMF) today completed the third review of the arrangement under the Extended Credit Facility (ECF) Arrangement for Cameroon. The completion of the review enables the disbursement of SDR 55.2 million (about US$76.3 million), bringing total disbursements under the arrangement to SDR317.4 million (about US$438.9 million).
In completing the third review, the Executive Board also approved the authorities’ request for a waiver for the non-observance of the performance criterion on the ceiling on net BEAC financing and the modification of two performance criteria pertaining to the ceiling on net borrowing of the central government from the central bank, excluding IMF financing, and the continuous performance criterion on new non-concessional external debt contracted or guaranteed by the government.
Cameroon’s three-year arrangement for SDR 483 million (about US$667,8 million, or 175 percent of Cameroon’s quota), was approved on June 26, 2017. It aims at supporting the country’s efforts to restore external and fiscal sustainability and lay the foundations for sustainable, inclusive and private sector-led growth.
Following the Executive Board discussion, Mr. Mitsuhiro Furusawa, Deputy Managing Director and Acting Chair, made the following statement:
“Cameroon’s performance under its ECF-supported program is broadly satisfactory. Most end-June 2018 targets have been met and structural reforms have advanced, with completion of key delayed financial sector reforms.
“The authorities remain committed to the concerted regional effort to rebuild CEMAC’s fiscal and external buffers. To that end, addressing revenue shortfalls and containing investment spending will be key to reaching the 2018 deficit target. Steadfast implementation of the 2019 budget, including measures to mobilize non-oil revenue by gradually removing exemptions and further spending rationalization will be essential to mitigate the risks from the challenging security situation, increasing commodity price volatility and other shocks to growth.
“Public external debt has increased rapidly in 2018, mainly owing to faster-than-envisaged disbursements of foreign project loans. Strictly limiting new non-concessional borrowing and addressing the stock of contracted but undisbursed loans are essential to maintain debt sustainability. Gradual adjustments in administered prices would help reduce subsidies and restore the financial viability of key public utility companies, while lowering risks from contingent liabilities.
“Financial sector reforms should continue to advance, including effective resolution of ailing banks and reduction of overdue loans. Other structural reforms should focus on tackling governance issues and improving the business environment to support private investment and enhance competitiveness.
Source: Inner Press



















19, December 2018
Trump signed letter of intent for Trump Tower Moscow 0
US President Donald Trump signed a letter of intent to proceed with negotiations to construct a Trump Tower in Moscow, according to a new document obtained by CNN. The letter, dated October 28, 2015 and signed by Trump, outlined the intent to build Trump condominiums,a hotel and commercial property in the heart of Moscow, the network reported on Tuesday.
Trump’s attorney Rudy Giuliani told CNN on Sunday that the document was never signed by Trump. “It was a real estate project. There was a letter of intent to go forward, but no one signed it,” Giuliani told the network’s Dana Bash.
The document is also signed by Andrey Rozov, owner of I.C. Expert Investment Co., the Russian company that would have been responsible for developing the project, the report said. While running for president in 2016, Trump repeatedly told the public that he had”nothing to do with Russia.” He never said that his company explored the business deal with Russia.
The project, which was ultimately canceled, would have given Trump’s company a $4 million upfront fee, a percentage of the sales and oversight over marketing and design. The hotel spa would have also borne the name of Trump’s daughter, Ivanka.
Special Counsel Robert Mueller’s team investigating possible collusion between Russia and the Trump campaign believe the project could have been lucrative to the president.
US President Donald Trump has renewed his call to end a federal investigation into alleged Russian collusion with his 2016 presidential election campaign.
While the potential Trump Tower deal was on the table, then-candidate Trump was speaking about changing US policy toward Russia and cultivating a relationship with President Vladimir Putin.
Giuliani suggested on Sunday that Trump had conversation with his then-corporate attorney, Michael Cohen, about the project toward the end of the election campaign.
“According to the answer that he gave, it would have covered all the way up to November of — covered all the way up to November 2016,” Giuliani told ABC News.
Source: Presstv