Hope Dies in Côte d’Ivoire (Ivory Coast)*

August 11th, 2010 TFT Staff Posted in International News, OpEd No Comments »

This begs the question of how this was allowed to happen and to thrive. Surely this was not what the people of the Ivory Coast wanted. The answer to the external question “Cui bono?” is the French. The system of the Pacte Coloniale set the scene for this state of learned dependence. The vultures of French business have returned en masse to the Ivory Coast. The French have conned the United Nations in supporting their military presence there. The death grip on the Ivory Coast finances of the CFA franc and the control of the economy by the French Treasury has made economic independence a sick and feeble joke. Nothing has changed very much in the fifty years of Ivory Coast’s independence except that local politicians have cut themselves into the action in the French exploitation and control of the country. There is a rude but accurate saying which originated in Argentina but which can be applied just as well to the Ivory Coast – “If shit had value, the poor would be born without assholes.”

By Dr. Gary K. Busch

On August 7th, the fiftieth anniversary of its independence, the politicians of the Ivory Coast announced that the oft-postponed national elections would take place on October 31, 2010. Unfortunately, for the large bulk of the Ivoirian population this election is a cruel joke. Elections are meant to resolve problems; to clarify the political power issues; to charge political victors and parties with the responsibilities for the programs they campaigned for during the election. In this election the parties do not have programs; half the country is occupied by a piratical rabble of failed soldiers; no disarmament of the rebels has effectively taken place; no legitimacy is ascribed to the voting rolls or the electoral process; the occupying French forces and their UN supporters dominate the security of the country; and the aged and fading political party ballerinas from the past refuse to allow younger, more agile, performers to take on the major roles. It is a shambles and fools no one.

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The Euro Crisis and Africa

May 17th, 2010 TFT Staff Posted in International Business, International Finance, International News, OpEd No Comments »

This bailout starts off with an initial pot of one trillion Euros from which Greece can borrow to pay off its debts. The hope is that similar debt crises in Portugal, Spain and Italy can be averted by a show of strength in the Greek crisis.

This agreement was not reached in an amicable discussion among the wealthier European states. The Germans, who provide the bulk of the cash, were bludgeoned into agreement by Sarkozy of France who twice threatened to pull France out of the Euro zone if the Germans wouldn’t go along with the plan. This is very important as France is not playing only with its own money. To a large degree it is cushioned by the reserves it holds from francophone Africa as part of the integration of the CFA francs into the Euro zone.

By Dr. Gary K Busch
Original Source: Ocnus.net

As we read of the current crisis in Greece and the emergency bailout of the European Union of the Euro it is may seem a little unclear as to the effect this will have in Africa. However, Africa, and francophone Africa in particular, is likely to be hit hard by the falling Euro and the diversion of national reserves in Europe to the propping up of the Euro zone. This bailout starts off with an initial pot of one trillion Euros from which Greece can borrow to pay off its debts. The hope is that similar debt crises in Portugal, Spain and Italy can be averted by a show of strength in the Greek crisis.

This agreement was not reached in an amicable discussion among the wealthier European states. The Germans, who provide the bulk of the cash, were bludgeoned into agreement by Sarkozy of France who twice threatened to pull France out of the Euro zone if the Germans wouldn’t go along with the plan. This is very important as France is not playing only with its own money. To a large degree it is cushioned by the reserves it holds from francophone Africa as part of the integration of the CFA francs into the Euro zone.

There are actually two separate CFA francs in circulation. The first is that of the West African Economic and Monetary Union (WAEMU) which comprises eight West African countries (Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo. The second is that of the Central African Economic and Monetary Community (CEMAC) which comprises six Central African countries (Cameroon, Central African Republic, Chad, Congo-Brazzaville, Equatorial Guinea and Gabon), This division corresponds to the pre-colonial AOF (Afrique Occidentale Française) and the AEF (Afrique Equatoriale Française), with the exception that Guinea-Bissau that was formerly Portuguese and Equatorial Guinea, formerly Spanish.

The WAEMU CFA franc is issued by the BCEAO (Banque Centrale des Etats de l’Afrique de l’Ouest and the Bank of the Central African States (BEAC) controls the CEMAC CFA franc. These currencies were originally pegged at 100 CFA for each French franc but, after France joined the European Community’s Euro zone at a fixed rate of 6.65957 French francs to one Euro, the CFA rate to the Euro was fixed at CFA 665,957 to each Euro, maintaining the 100 to 1 ratio. It is important to note that it is the responsibility of the French Treasury to guarantee the convertibility of the CFA to the Euro.

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Gabon’s interim leader sworn in

June 10th, 2009 TFT Staff Posted in Breaking News, International News, News No Comments »

BBC Reporting

The speaker of the senate in Gabon has been sworn in as the country’s interim head of state, following the recent death of President Omar Bongo.

Under the constitution, Rose Francine Rogombe, an ally of Mr Bongo, must organise elections within 45 days.

On Thursday, Mr Bongo’s body will be repatriated from Spain where he had been undergoing medical treatment.

Access to the internet in the oil-rich nation remains cut off, but the state’s borders have been reopened.

Minute’s silence

Ms Rogombe was sworn in at the International Conference Centre in the capital, Libreville, on Wednesday morning, a day after her appointment was confirmed by the constitutional court.

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Obamas Turn Down Dinner with the Sarkozys

June 5th, 2009 TFT Staff Posted in International News, Lifestyle No Comments »

UPI Reports

PARIS, June 4 (UPI) — U.S. President Obama has turned down a dinner invitation from French President Nicolas Sarkozy in Paris, and French media are calling it a snub.

Obama and his wife, Michelle, plan to spend Friday night at the U.S. Embassy in Paris after a day in Germany, The Times of London reported. On Saturday, they will participate in ceremonies in Normandy marking the 65th anniversary of the D-Day invasion.

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Africa has to find its own road to prosperity

May 8th, 2009 TFT Staff Posted in International News, OpEd No Comments »

By Paul Kagame, President of Rwanda

Originally Published on May 7, 2009 in the Financial Times

At recent meetings of the Group of 20 and the International Monetary Fund, world leaders have gathered to discuss the global economic crisis. Unfortunately, it seems that many still believe they can solve the problems of the poor with sentimentality and promises of massive infusions of aid, which often do not materialise. We who live in, and lead, the world’s poorest nations are convinced that the leaders of the rich world and multilateral institutions have a heart for the poor. But they also need to have a mind for the poor.

Dambisa Moyo’s controversial book, Dead Aid, has given us an accurate evaluation of the aid culture today. The cycle of aid and poverty is durable: as long as poor nations are focused on receiving aid they will not work to improve their economies. Some of Ms Moyo’s prescriptions, such as ending all aid within five years, are aggressive. But I always thought this was the discussion we should be having: when to end aid and how best to end it.

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Zuma steps into the cauldron

May 8th, 2009 TFT Staff Posted in International News, OpEd No Comments »

My submission is that Africa South of the Sahara is exasperated with ex-revolutionary political domination by the likes of ANC [South Africa], ZANU-PF [Zimbabwe], BDP [Botswana], Frelimo [Mozambique], CCM [Tanzania], SWAPO [Namibia] or KANU [Kenya]. Uganda, DRC, Rwanda, Lesotho, Swaziland and Angola all have ruling parties that have strong ties with the ‘revolutionary’ past. At a time when enlightened Africa was hoping that Zuma’s ANC would for the first time in a decade, share real political power, the echoes of domination still inundate the subcontinent. What this means is, according to members of civil society organisations, both the AU and SADC will keep shifting towards clumsy elitism that protects the interests of ‘old boys’. Developments in Madagascar and Zimbabwe reflect a desperate desire for political transformation outside the well-trodden paradigm of post-colonial hangover.

By Rejoice Ngwenya
Johannesburg, South Africa

South African President-elect Jacob Zuma assumes political power on Saturday, 9 May 2009 riding on a sixty-five percent-but-less-than-two-thirds majority mandate. Shortly after the pomp and ceremony, his life at the helm begins in earnest in a fiery cauldron of popular expectations.

The majority of South African voters may have snubbed the rival Congress of the People [COPE] with a distant third place position and a seven per cent share of the political cake, yet this will hardly exonerate Zuma. More importantly, Helen Zille’s Democratic Alliance [DA] will colonise 67 seats after increasing its voters by over one million, giving her more leverage to fan the flames of legitimate dissent whilst gnawing at the power base of the larger-than-life African National Congress [ANC].

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South Africa’s Final Stretch to Democracy

April 21st, 2009 TFT Staff Posted in International News, OpEd No Comments »

By Rejoice Ngwenya*, Pretoria
21 April 2009.

South Africa holds its fourth post-apartheid election tomorrow. Being an important economy within Africa and to other regions of the world, one should have expected the same media frenzy that charaterised previous elections to be more than ever present, not least because the next FIFA World soccer tournament will be held in South Africa.

Barack Obama’s lightning world tours, Somalia’s pirate attacks, Zimbabwe’s Government of National Unity and a host of other attention-grabbing world events have taken the vigor out of the intrigues surrounding this vital election. Besides, characters like Jacob Zuma and his controversial hangers-on and Nelson Mandela have not stopped making news, so before we know it, the world would have been completely oblivious to the fact that for once in Southern Africa, elections can be after all, be free, fair and entertaining!

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Court issues war crimes warrant for Sudan’s Bashir

March 4th, 2009 TFT Staff Posted in International News, News No Comments »

Original Publisher: Associated Press
By MIKE CORDER

THE HAGUE, Netherlands – The International Criminal Court issued an arrest warrant Wednesday for Sudanese President Omar al-Bashir on charges of war crimes and crimes against humanity in Darfur. He is the first sitting head of state the court has ordered arrested.

The three-judge panel said there was insufficient evidence to support charges of genocide in a war in which up to 300,000 people have died and 2.7 million have fled their homes.

Al-Bashir’s government denounced the warrant as part of a Western conspiracy aimed at destabilizing the vast oil-rich nation south of Egypt.

African and Arab nations fear the warrant will destabilize the whole region, bring even more conflict in Darfur and threaten the fragile peace deal that ended decades of civil war between northern and southern Sudan. China, which buys two-thirds of Sudan’s oil, supports the African and Arab positions.

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Is Morgan Tsvangirayi up to the Task?

February 20th, 2009 TFT Staff Posted in International News, OpEd No Comments »

Tsvangirayi is up against forces of tectonic proportion, the kind of impact that is experienced at the bottom of the Devil’s Cataract at the world famous Victoria Falls gorge. Consider his current adversaries in the GNU: Robert Mugabe, Commander- in-Chief; General Constantine Chiwenga, commander of the defence forces; Lieutenant-General Phillip Sibanda, head of the Army; Perrence Shiri, head of the Air Force; Happyton Bonyongwe, the director of the Central Intelligence Organisation, Augustine Chihuri, the police chief and Paradzayi Zimondi, the prisons commissioner.

Rejoice Ngwenya*
February 20 2009, Harare, Zimbabwe

Zimbabwe’s Movement for Democratic Change Prime Minister Morgan Tsvangirayi has, in the narrowest sense of the word, assumed political power. On Tuesday, 10 February 2009, he announced his share of thirteen Cabinet Ministers. Two days later on Friday the 13th, President Robert Mugabe made them swear an oath of allegiance to seal their fate in the corridors of what can confidently be described as supreme bureaucracy.

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Muammar al-Gaddafi and his African Unity Agenda

February 2nd, 2009 TFT Staff Posted in International News, OpEd No Comments »

The Libyan leader will be celebrating 40 years of uninterrupted power after his successful coup d’etat on September 1, 1969. For most part of his stay in power, Brother Gaddafi has been associated with sponsoring terrorist organizations and rebel movements particularly in West Africa. Mention is usually made of Sierra Leone and Liberia. He has therefore attracted wide condemnations of the international community for quite a long time, until recently in August 2003 when Libya wrote to the United Nations to formally accept responsibility for the Lockerbie bombing, and agreed to pay a compensation of about US$ 2.7 billion.

By Alhassan Atta-Quayson*

Over the past years, especially after the international community accepted him back into the diplomatic arena, Muammar al-Gaddafi has unflinchingly advocated for what could be described as a radical form of the African Union. Radical because his way, defies many if not all, proposals, arrangements, and efforts already underway, albeit on a much slower pace towards the creation of a unity government.

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