Daily Archives: April 15, 2017

Gift Phiri 15 April 2017 2:52PM 8 comments

HARARE - With Zimbabwes economy continuing to die as manifested by rising poverty levels, worsening job losses and severe cash shortages the government is showing signs of panic, amid fresh warnings by experts that the country is headed for an economic disaster akin to the meltdown of 2008.

This comes as the Reserve Bank of Zimbabwe (RBZ) has set the maximum limit for cash back facilities by retailers and wholesalers at $20, as authorities desperately try to mitigate the countrys worsening cash crisis which is forcing long-suffering Zimbabweans to spend hours at banks queuing for their money.

Any cash-back facility made available by retailers and wholesalers shall not exceed an amount of $20.

The Reserve Bank shall collaborate with wholesalers, retailers and their associations to ensure the adequate provision of Point of Sale (POS) machines in order to enhance the use of plastic money for transactions, the under-pressure central bank said on Thursday.

But a government source who spoke to the Daily News yesterday said the countrys bigwigs were panicking over the ever-deteriorating state of the economy.

I wont lie to you, we are all panicking. While its clear that the Reserve Bank is doing its best, unfortunately our problems are deeper than the central banks mandate, which is why they appear to be treating the symptoms and not the causes of the problems, the senior official said.

An executive with a retail chain, who spoke on condition of anonymity, also criticised what he called panicky, knee-jerk policy pronouncements by the government that he felt would not mitigate the dire situation obtaining on the ground.

We have now reached a situation where we do not know whether to laugh or cry. I mean, what kind of policies are these where we are compelled to bank our money but cant get this cash back when we need it?

Our biggest fear is that this is more and more looking like the nightmare of 2008 . . . and while Im not one of (Peoples Democractic Party leader Tendai) Bitis admirers, I think he was correct when he described our economy as a Ponzi scheme (a fraudulent investment operation), he said.

On its part, opposition leader Morgan Tsvangirais Movement for Democratic Change (MDC) said the RBZ should simply own up and declare that the prevailing cash crisis is beyond its control.

The wheels have totally come off, MDC spokesperson Obert Gutu told the Daily News yesterday.

The bond notes experiment has been a spectacular flop. The chickens are coming home to roost.

What Zimbabwe needs and needs very urgently, is a lasting solution to its long standing political and socio-economic crisis.

These stop-gap measures like limiting cash backs to be paid by retailers simply wont do. We need to cure the cause of the disease, not just rushing to suppress the symptoms, he said.

PDP spokesperson Jacob Mafume alleged that senior government officials were the biggest hoarders of cash in the country and not ordinary Zimbabweans who were targeted by the new monetary measures.

He also said the RBZ was criminalising what is ordinary economic activity in other countries.

Economist Kipson Gundani said the new cash back limits showed that Zimbabwe had entered an era of cash rationing adding that he did not expect the measures to end the countrys severe cash shortages.

Mfundo Mlilo, a governance and public policy expert, also said the cash back limits reflected the fact that the countrys cash crisis was worsening.

The money supply situation is worsening and this will negatively affect aggregate national demand . . . Its an ungodly act at Easter, Mlilo said.

Other economists warned that the cash crunch would pull down Zimbabwes gross domestic product (GDP) growth and spawn a recession, with companies and traders relying on cash set to be worst affected.

Economist Prosper Chitambara said the new regulations were a desperate measure to curb the countrys worst financial crisis in eight years, but would not succeed.

Definitely, this wont address the problem . . . this is a confidence issue, as there are uncertainties in the market. People have no confidence in using the formal system, he said.

In the meantime, Zimbabwes worsening cash crisis has forced banks to reduce further their daily withdrawal limits in addition to suspending dispensing money through Automated Teller Machines (ATMs).

This prompted analysts who spoke to the Daily News recently to say that this confirmed that the local economy was dying and hurtling towards total collapse.

It also comes as most banks are now disbursing a maximum of $30 dollars a day, down from their usual $100 while those that had capped the maximum withdrawal limit at $500 a week have pulled this back to $200.

The cash shortages are also continuing to worsen despite the recent opening of the tobacco marketing season.

Economic advisor to President Robert Mugabe, Ashok Chakravarti, told the Daily News last week that the escalating cash crisis was a result of long-term problems that came after the country opted to have one of the worlds strongest currencies, the US dollar, as its anchor currency.

We have close to $6,5 billion in deposits and at the end of January we had a little over $300 million in cash circulating.

Under such circumstances, it only makes sense that we have shortages. Do not blame the banks, it is not their fault, they are only looking for a coping mechanism, Chakravarti said.

He recommended that the government should adopt the South African rand and ditch the dollar.

I have said this before, we need a weaker currency. The weaker, the better for us. As South Africa has just been downgraded, this is an opportune time. What we just need is a weaker currency, he added.

Veteran economist John Robertson said the cash problems were going to persist until the government urgently fixed the countrys economic fundamentals.

This has been going on for the past year and in my view, the situation is not likely to improve in the near future because economic fundamentals remain the same.

Governments wage bill still makes up the majority of deposits and as soon as those deposits are recorded, civil servants want to withdraw the money. But there is essentially no money in the system . . . Not even tobacco earnings will save us this time Robertson said.

The cash shortages come as there are growing fears that the countrys economy may soon hit the disastrous lows of 2008 as bond notes continue to lose their value against the United States dollar, with the coveted greenback now almost completely unavailable on the open market.

At the same time, economists have also told the Daily News that poverty levels in the country are skyrocketing, with average incomes now at their lowest levels in more than 60 years and with more than 76 percent of the countrys families now having to make do with pitiful incomes that are well below the poverty datum line of more than $500.

Economists have also warned of a fresh round of sharp rises in the prices of basic goods, including foodstuffs as the US dollar continues to vanish from the market, leading political analysts to worry about renewed civil unrest in the country.

Biti, who is the countrys former Former Finance minister has also said that Zimbabwe is heading for an economic calamity which would see the government formally reintroducing the Zimbabwe dollar which has been decommissioned.

They are already printing what we call Zollars, an amphibious creature which is half Zimdollar and half US dollar that is reflected in treasury bills and bond notes which have no cover.

This is reflected in unfinanced RTGS (real-time gross settlement) and debit card transactions. We have created hot air, and as a result broad money supply, M3, must be frightening. It must be close to 60 percent of GDP. We are heading straight to hyperinflation.

Zimbabweans must prepare for a long winter of despair. Its in Zanu PFs DNA to print money and just spend it as if there is no tomorrow. The flood gates are open and will drown us. Its just a question of time now, Biti said.

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Govt panics as wheels come off - DailyNews Live - DailyNews

BRIEFLY

Community breakfast to open Trinity's Easter service

MERCER Trinity Presbyterian Church, 110 East Market St., will offer a light breakfast for the community in the social room at 9:45 a.m. Sunday, preceding the church's Easter service at 11 a.m.

Christian Women's retreat scheduled at McKeever

SANDY LAKE Christian Women's Outreach of Mercer County is sponsoring a retreat April 21-22 at McKeever Environmental Learning Center, state Route 358.

The retreat begins at 4:30 p.m. the first day and ends at the conclusion of the 2 p.m. session the second day. Overnight stays are optional.

Guest speakers are Brandy Palmiero of Clarks Mills and Pastor Janet Pratt of Stoneboro. The retreat offers women time away from busy lives, a time of communion with Jesus and of sharing with others.

Costs: Friday night only, $17, includes dinner; Saturday only, $30, includes all meals; Friday and Saturday no overnight, $40, includes all meals; and Friday and Saturday overnight, $45, includes all meals. Scholarships are available. Registration forms may be obtained by calling Patti at 724-475-3520 or Shirley at 814-425-7572.

Clergy group to hold Easter sunrise service

SHARPSVILLE AREA The Greater Sharpsville Area Clergy Association is sponsoring special events Easter Sunday.

On Easter Sunday, a community sunrise service will be held at 7 a.m. in Mahaney Park at the Shenango Lake. Speaker will be Rev. Dr. Carl Nicklas.

Member churches are Sharpsville Nazarene, First Presbyterian, First United Methodist, South Py Community, Clark Trinity United Methodist, St. Bartholomews and Eastgate Christian. Shenango Valley Faith Academy and Transform! Counseling Center also are part of the association.

Eagles Nest Church sets Easter services, eventGREENVILLE Eagles Nest Church, which worships at the American Legion Hall, 278 Main St., has scheduled special Easter Sunday services.

At 9:30 a.m. Easter Sunday, a Galilean breakfast will be held at the Pymatuning dam by the gatehouse, featuring fish and loaves and a retelling of the story in John chapter 21. A celebration service will be held at 10:30 at the legion hall.

Info: Pastor Vince Bellanca, 724-456-8900.

Wayside church slates Good Friday, Easter services

FINDLEY TOWNSHIP Wayside Community Church, 1911 Mercer-Grove City Road, will hold Easter Sunday service at 10:30 a.m.

New Life Baptist sets 3 Easter celebration services

NEW WILMINGTON Community Easter celebration services will be held at New Life Baptist Church, 3414 state Route 208, at 6 p.m. today and at 9 and 11 a.m. Sunday.

The services will include deaf interpretation and their will be classes for children of all ages.

Info: 724-946-2816 or http://www.mynlbc.com

WM area churches to hold outdoor sunrise service WEST MIDDLESEX AREA West Middlesex area churches will hold an outdoor Easter sunrise service at 7 a.m. Sunday in the east-facing parking lot of Unity Presbyterian Church at Greenfield, 1857 Mercer West Middlesex Road in Lackawannock Township.

Pastor Jim Moose of the host church will speak. Those attending are asked to bring lawn chairs.

Following the outdoor service, breakfast will be served in the Unity fellowship hall, which is handicapped accessible.

In case of rain the service will be held in the Unity sanctuary.

Info: 724-346-9501 and leave a message.

Rev. Oatis to speak at IHS 'Sonrise' service

HERMITAGE Rev. Don Oatis will be the speaker at the 7 a.m. Easter Sunday Sonrise service in IHS Gospel Ministries, 786 Karen Lane. Breakfast will be at 8 a.m., followed by Sunday school and the worship service.

Vision & Values conference looks at God that Failed

GROVE CITY The Center for Vision & Values at Grove City College will take a deep look at a fallen socio-economic idol that may be making a comeback during the conservative think tank's 13th annual conference April 20 and 21 on campus.

The God That Failed: Communism and Socialism Then and Now features dozens of speakers and scholars exploring a variety of issues related to the communist-socialist phenomenon of past, present and future.

National Review Senior Editor Jonah Goldburg, one the nations most-read and respected conservative writers, leads a pack of nationally-known guests who will descend on campus for the conference, which also features a number of Grove City College faculty who will present original research and scholarship and lead discussions throughout.

Others scheduled to speak during the two-day conference include: David Horowitz, founder and president of the Freedom Center and editor of FrontPage Magazine; Michael Medved, nationally syndicated radio talk show host, best-selling author, political commentator and veteran film critic; Ron Radosh, a writer, professor, historian and former communist; and Lee Edwards, distinguished fellow at The Heritage Foundation and author of Freedoms College: The History of Grove City College.

The conference takes its name from a 1949 book detailing the disillusionment of former Communists and also serves to mark the centenary of the launch of global communism with the Bolshevik Revolution in Russia. Despite the collapse of the Soviet Union, communist and socialist societies persist in the 21st century and recent events indicate that the ideology may be attractive to todays millennial generation. The conference seeks to explore the ways in which current ideologies bare resemblance to communism and how people of faith should assess socialism and its more radical variants.

For a complete schedule of events or to register, visit: http://www.visionandvalues.org.

The Center for Vision & Values is conservative think tank strengthening the faith and freedom foundation of American citizenship at Grove City College. It is a leading forum for the study and application of freedom to economic, political, social, religious and scientific issues. The views and opinions expressed by Center staff or conference participants do not necessarily reflect the view of Grove City College.

Chestnut Ridge to host Carol Missik's 'Concert of Worship'

HUBBARD Rev. Carol Missik will present Concert of Worship at 5 p.m. April 23 in Chestnut Ridge Church of God. Performing guests will be Loree Schmidt; Higher Praise of Warren, Ohio; the mens praise team of the host church and soloists and instrumentalists with Missik at the keyboard.

An offering will be received to support Operation Capital City, an affiliate of South East Asia Prayer Center headquartered in Oakmont, Pa. Operation Capital Citys purpose is to strategically cover with intense prayer each capital city in each state or region in any nation the organization believes God is leading.

Ruth A.M.E. Zion schedules Women's Day services

SHARON Ruth A.M.E. Zion Church, 95 Connelly Blvd., will hold Women's Day services April 29 and 30.

A prayer brunch will be at 11 a.m. April 29, with guest speaker Rev. Geraldine D. Williams, former pastor. An offering will be received. At 3 p.m. that day, a praise extravaganza will feature area choirs, groups and individuals.

The 11 a.m. April 30 service will conclude the weekend activities. Speaker will be Rev. Deborah Hines, associate minister of Bethel A.M.E. Zion Church in Cleveland.

See the article here:

Church happenings, Easter Week events - Allied News

Kazakhstans President Nursultan Nazarbayev has called on his government to begin preparing to shift the nations alphabet from the Cyrillicas used by neighbor Russiato the Latin.

Kazakhstan has been independent since the collapse of the Soviet Union but Russian is still widely spoken alongside Kazakh and both are official languages.

But despite the use of Russian in Kazakhstan and its neighbors, the regions native languages belong to the Turkic rather than Slavic family.

Other countries with Turkic languages, such as Turkey, Azerbaijan and nearby Uzbekistan and Turkmenistan use the Latin alphabet. And now, according to Russian news agency Interfax, Nazarbayev has commissioned experts to begin work on a Kazakh alphabet based on the Latin one, by the end of the year.

"The Latin alphabet was used [in Kazakhstan] from 1929 to 1940, Nazarbayev said. In 1940a law was adopted transferring the Kazakh language from the Latin alphabet to one based on Russian script. Thus, changes in the Kazakh alphabet were political.

Nazarbayev plans the transition to the new Latinized Kazakh script to be complete by 2025. The stated purpose of the move is to make Kazakhstan a more recognizable brand internationally, but it will also appeal to patriotic Kazakhs.

According to Camilla Hagelund, Central Asia analyst at risk analytics firm Verisk Maplecroft, the initiative will likely be a success given Nazarbayevs immense unilateral influence in his country and the fact that the change reflects the public mood.

Kazakh businesses have, for example, increasingly adopted the use of Q instead of K in their company namesusing Qazaq instead of Kazakh, she says. Such changes are closer to non-Cyrillic regional conventions. The letter Q does not exist in the Cyrillic alphabet.

Nazarbayev even noted that the Kazakh diaspora in Turkey is already widely using Latin script to write in Kazakh and schoolchildren all learn the Latin alphabet as part of studying English at school. That is not to say the transition will be without pitfalls, however, as Hagelund warns companies will have to rebrand products and retrain personnel on using new equipment.

At the socio-economic level the implications are much greater, including the need to replace school books, adding pressure on strained public finances, Hagelund says. The change would [also] risk making large swathes of the public illiterate.

Hagelund does not expect Russia to be overly concerned about losing a common alphabet with one of its closest allies, however.

Continue reading here:

Kazakhstan Could Become Qazaqstan as it Eyes New Alphabet - Newsweek

This week, Christians around the world mark the holiest week in their religious calendar, observing the Passion, crucifixion, and Resurrection of Jesus in Jerusalem. This sober time of reflection and prayer comes in the midst of continued threats to Christians in the Middle East most recently in the PalmSunday bombings at two churches in Egypt claimed by ISIS.

Over the past decade, some of the oldest Christian communities have been disappearing from the lands where the faith was born and first took root. A combination of violence and discrimination has driven Christians to migrate abroad for physical security and better educational and economic opportunities. Christians have been targeted by terrorist groups like ISIS and devastated by the regions civil wars. In addition, deeply rooted discrimination against Christians and other non-Muslims institutionalized in the legal codes and official practices of most Middle Eastern countries is another factor leading to the declining Christian presence.

The United States alone cannot stop these trends but acknowledging them and taking modest steps to address the underlying problems will be important as the United States steps up its engagement in the Middle East. U.S. action on this front is more than a matter of altruistic goodwill; its an important part of a long-term stabilization strategy for the Middle East.

The challenges for Christians in the Middle East vary significantly across countries, but there is one common thread related to overall stability: poor governance. Islamist extremist groups have exploited weaknesses in the rule of law to target Christians and secular authoritarians have cultivated the marginalization and erasure of Christian communities.

The eradication of Christians and their religious sites amounts to memoricide erasing any living presence and memory footprint of Christians in their homelands. Turkeys president reported plans to hold Muslim prayers inside the Byzantine Orthodox Cathedral of Aghia Sophia this coming Good Fridayis one example of active efforts to erase Christian heritage and patrimony.

These actions by authoritarian leaders and terrorist groups have contributed to the problem of state failure and collapse in the Middle East, a global security threat. The 9/11 attacks and the spread of Islamist extremist ideologies, and the massive human flows across the Mediterranean in the worlds worst refugee crisis since the Second World War, is directly linked to the failure of states to protect the rights of all its citizens, particularly persecuted religious groups. Greater respect for religious pluralism and freedom is a key component to long-term stability.

The U.S. militarys current tactical and operational escalation in Syria, Iraq, and other parts of the Middle East will not stop state fragmentation without a long-term engagement strategy that takes seriously the fact that religious pluralism matters for state legitimacy and socio-economic stability. This doesnt mean direct nation-building by the United States but it does mean ending the tendency to see religious freedom as a boutique policy issue and integrating it in our diplomacy.

Of course, Christian communities are just one of many religious communities that need to be part of peace-building and post-conflict stabilization in Iraq and Syria. In Syria, many Christians cling to the Assad regime despite its brutality, out of fear for what might come next. Next door in Iraq, the Christian community was decimated by the ongoing war. To help these countries achieve long-term stability, the United States must engage other religious communities whose commitments to equality, freedom, and universal human rights can reinforce stability in the region. Legal frameworks and institutional arrangements that demand state accountability to all citizens can help resolve societal differences a key ingredient for peace processes.

A few days after entering office, President Trump told the Christian Broadcasting Network that Christians in the Middle East have been horribly treated, and Were going to help them. But President Trumps proposal to drastically cut funding for the State Department and other development assistance would undermine Americas ability to help on this front. Meanwhile, his broader refugee ban undermines Americas influence and moral authority, and reduces the overall number of people fleeing persecution and trying to come to the United States

Instead, Trump should take concrete steps to follow up on the U.S. State Departments designation made in March of last year that ISIS was committing genocide, including providing funding and support for tools necessary to investigate and prosecute war crimes and acts of genocide. Trump should also revisit the proposed State Department budget and develop practical mechanisms for helping post-conflict stabilization efforts that include religious pluralism and freedom as a priority.

Christians are organic to the fabric of religious diversity that made the Middle East a civilizational crucible of intellectual dynamism and economic innovation as far back as Roman and Byzantine times. This historical energy and diversity can be resurrected.

Brian Katulis is a senior fellow for national security at the Center for American Progress. Elizabeth Prodromou, a visiting associate professor of negotiation and conflict resolution at the Fletcher School of Law and Diplomacy at Tufts University, is also a senior fellow at the Center for American Progress.

See the article here:

Trump Administration Must Act To Address The Plight of Christians In The Middle East - Huffington Post