22, April 2023
Yaoundé: Journalist Killings Cast Chill Over Investigative Reporting 0
Cameroonian journalists say they remain fearful more than three months after the abduction and killings of investigative journalist Martinez Zogo and radio presenter Jean-Jacques Ola Bebe.
Dieudonne Koutche was among several dozen civilians who stopped by a memorial to the slain journalists at Amplitude FM radio in Yaounde on April 21, 2023.
He said he feels for journalists in Cameroon because it is a country where officials and business executives can decide one morning to abduct and kill a reporter.
Charges of torture and complicity in torture for the more than 20 people arrested in connection with Zogo’s killing are not convincing, Koutche added. The culprits should face more serious charges, he said.
Zogo was a radio host at Amplitude FM. The U.S.-based Committee to Protect Journalists reports that Zogo had been investigating allegations of corruption involving senior officials in the central African state.
His mutilated body was found on January 22 in Yaounde, five days after he was abducted.
Cameroonian President Paul Biya ordered an investigation into Zogo’s killing after a national and an international outcry.
Jean-Pierre Amougou Belinga, a prominent business leader with holdings in banking, finance, insurance and property, as well as the L’Anecdote company, which owns a daily newspaper and several pro-government TV and radio stations, was arrested.
Zogo had reported in one of his radio programs that many senior officials, including Belinga, wanted to kill him. But Zogo pledged to continue digging deep into corruption, which he said involved Belinga and many government ministers.
The police also arrested a former chief presidential security guard, senior police officers and a police chief in connection with Zogo’s killing.
Charly Tchouemou, editor-in-chief of Amplitude FM, said reporters are receiving threats, and the momentum to report graft is fading.
He said since Zogo was killed, some Amplitude FM journalists are scared of reporting corruption and social ills. Tchouemou said Amplitude FM reporters are particularly scared because they receive anonymous phone calls from suspected government officials, as well as supporters and business partners of Belinga. He said the callers threaten to kill journalists who continue to report that the business mogul may have masterminded Zogo’s killing.
A court in Yaounde has twice denied bail for Belinga.
Charles Tchoungang, who leads Belinga’s legal defense, said it is not proper for his client to be in jail while other suspects are free. He spoke to VOA by telephone Friday from Douala, Cameroon’s economic hub.
Tchoungang said he is surprised that Belinga was arrested, while some government ministers who are prime suspects are still free. He added that keeping Belinga detained does not answer the question as to who killed Zogo, because he is sure that the killers are high-profile government officials who are falsely accusing Belinga.
The government has yet to respond to Tchoungang’s allegations that senior government officials planned Zogo’s killing. The government, however, says it will investigate and punish all killers according to Cameroonian law.
Jean-Jacques Ola Bebe, another radio presenter, was found dead outside his home in the capital on February 2, allegedly gunned down by unknown assailants. The government has not commented on his killing.
Cameroonian journalists say the two deaths scare them, and they have reported threats to the police. The police told VOA that it had received complaints from reporters and that it is its duty to protect every civilian.
Source: VOA





























27, April 2023
World Bank says commodity prices to register sharpest drop since the pandemic 0
Global commodity prices are expected to decline this year at the fastest clip since the onset of the COVID-19 pandemic, clouding the growth prospects of almost two-thirds of developing economies that depend on commodity exports, according to the World Bank’s latest Commodity Markets Outlook report.
The drop in prices, however, is expected to bring little relief to the nearly 350 million people across the world who face food insecurity. Although food prices are expected to fall by 8% in 2023, they will be at the second-highest level since 1975. Moreover, as of February this year, annual food price inflation is at 20% globally, the highest level over the past two decades.
“The surge in food and energy prices after Russia’s invasion of Ukraine has largely passed due to slowing economic growth, a moderate winter, and reallocations in the commodity trade,” said Indermit Gill, the World Bank’s Chief Economist and Senior Vice President for Development Economics. “But this is of little comfort to consumers in many countries. In real terms, food prices will remain at one of the highest levels of the past five decades. Governments should avoid trade restrictions and protect their poorest citizens using targeted income-support programs rather than price controls.”
Overall, commodity prices are expected to fall by 21% in 2023 relative to last year. Energy prices are projected to decline by 26% this year. The price of Brent crude oil in U.S. dollars is expected to average $84 a barrel this year—down 16% from the 2022 average. European and U.S. natural-gas prices are forecast to halve between 2022 and 2023, while coal prices are expected to decrease 42% in 2023. Fertilizer prices are also projected to fall by 37% in 2023, which would mark the largest annual drop since 1974. However, fertilizer prices are still near their recent high last seen during the 2008-09 food crisis.
Ayhan Kose, the World Bank’s Deputy Chief Economist and Director of Prospects Group, said: “The decline in commodity prices over the past year has helped reduce global headline inflation. However, central bankers need to remain vigilant as a wide range of factors, including weaker-than-expected oil supply, a more commodity-intensive recovery in China, an intensification of geopolitical tensions, or unfavorable weather conditions, could push prices higher and reignite inflationary pressures.”
Despite the large declines expected this year, prices of all major commodity groups will remain well above their 2015-2019 average levels. European natural gas prices will hover at almost three times the average in 2015-19. Energy and coal prices will also remain above the pre-pandemic average.
“Metal prices, which increased slightly early in the year, are expected to fall by 8% relative to last year, primarily because of weak global demand and improved supplies,” said Valerie Mercer-Blackman, Lead Economist in the World Bank’s Prospects Group. “In the longer term, however, the energy transition could significantly lift the demand for some metals, notably lithium, copper, and nickel.”
A Special Focus section of the report evaluates the performance of a wide range of approaches used to forecast prices of seven industrial commodities (oil and six industrial metals). A key finding of the study is that futures prices, which are widely used for price forecasts, often lead to large forecast errors. Econometric models based on multiple independent variables tend to outperform other approaches as well as futures prices. The analysis suggests that augmenting model-based forecasting approaches—by incorporating the dynamics of commodity prices over time and controlling for other economic factors—enhances forecast accuracy.