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Economic Recovery and Anticorruption in South Africa: Assessing Progress on the Reform Agenda

Economic Recovery and Anticorruption in South Africa: Assessing Progress on the Reform Agenda 4 December 2019 — 3:00PM TO 4:00PM Anonymous (not verified) 25 November 2019 Chatham House | 10 St James's Square | London | SW1Y 4LE

South Africa has significant economic potential based on its resource endowment, quality human capital and well-developed infrastructure compared to the region. However, the country’s economic growth rate has not topped 2 per cent since 2013, and in 2018, was below 1 per cent. This has put a strain on citizens and communities in a country that still suffers from structural inequality, poverty and high unemployment. Economic recovery and anti-corruption were the central pillars of President Cyril Ramaphosa’s 2019 electoral campaign and he has set an investment target of $100 billion. However, voters and investors alike are demanding faster and more visible progress from the country’s enigmatic leader who has a reputation for caution and calculation.

At this event, Professor Nick Binedell will discuss the progress of and opposition to the president’s economic reform agenda and the opportunities for international investment to support long term inclusive and sustainable growth in South Africa.

Attendance at this event is by invitation only.




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Webinar: South Africa's Economic Recovery Beyond COVID-19

Webinar: South Africa's Economic Recovery Beyond COVID-19 27 May 2020 — 1:00PM TO 2:00PM Anonymous (not verified) 18 May 2020

South Africa’s rapid action to prevent accelerated domestic transmission of the coronavirus has been widely praised. But, as in many countries, despite a substantial bailout, the pandemic is causing significant damage to the economy, from which it will take a long time to recover.
 
Even before the pandemic, South Africa’s economy was in recession. Citizens’ support is being tested by the need for immediate livelihood protection, and long term recovery will require public trust.
 
As the long-standing party of government, the African National Congress (ANC) is at the forefront of policy formation and debates on the future role of the state in the governance of state-owned enterprises, and transformation policies such as empowerment legislation and land reform.
 
At this webinar, Paul Mashatile, Treasurer General of the African National Congress (ANC), discusses the party’s priorities for economic recovery during and after the pandemic. He is joined for the Q&A by Enoch Godongwana, Chair of the ANC’s Economic Transformation Committee.

Read meeting summary




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Angola Forum 2021: Policy options to support economic recovery in Angola

Angola Forum 2021: Policy options to support economic recovery in Angola 7 October 2021 — 2:00PM TO 5:00PM Anonymous (not verified) 22 September 2021 Online

Speakers discuss policy options to support economic recovery in Angola as the country transitions away from a state-led oil economy to a private-sector-led growth model.

The government of Angola has made some progress on a range of policies targeting macroeconomic stability and structural reform. However, the country has been suffering from a recurring economic recession for six consecutive years, with the last positive annual GDP growth rate posted in 2015 at 0.9 per cent.

The national budget remains dependent on oil revenue, leaving the country highly exposed to volatile oil prices particularly during the COVID-19 pandemic. While revenues collapsed, increased spending was needed to respond to the health crisis and estimates of Angola’s debt spike range from 130 to 150 per cent of its GDP by the close of 2020.

At this virtual Angola Forum, speakers discuss policy options to support economic recovery in Angola as the country transitions away from a state-led oil economy to a private-sector-led growth model.

The Forum launches the English translation of the Angola Economic Report 2019-20 by the Centro de Estudos de Investigação (CEIC) of the Catholic University of Angola in partnership with the Konrad-Adenauer-Stiftung (KAS), and the findings of Afrobarometer’s first ever survey in Angola, Ovilongwa – Estudos de Opinião Pública, which interviewed 2,400 adult Angolans and sampled individual perceptions on democracy and economic reform in Angola.

This event will be held in English and Portuguese with simultaneous interpretation.

The Forum will also be broadcast live on the Africa Programme Facebook page.




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Zambia’s political and economic reform and recovery

Zambia’s political and economic reform and recovery 5 November 2021 — 11:30AM TO 12:30PM Anonymous (not verified) 2 November 2021 Chatham House and Online

At this event, HE Hakainde Hichilema, president of the Republic of Zambia, discusses his vision for Zambia’s development and long-term political and economic reform and recovery.

Zambia’s new administration, following the general elections of August 2021, faces a daunting challenge of reversing economic contraction, lowering income-eroding inflation, and addressing the unsustainable national debt.

The country has been one of the few to seek debt restructuring under the G20’s new Common Framework for Debt Treatments, and its immediate priorities include a prospective agreement with the International Monetary Fund (IMF).




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Artificial pancreases for type 1 diabetes: Better access is “watershed moment”—but delivery is key




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Russia's war on everybody

Russia's war on everybody 6 December 2022 — 5:00PM TO 6:00PM Anonymous (not verified) 14 October 2022 Chatham House and Online

Experts discuss the methods Moscow has employed to exert influence around the world over recent decades.

Russia’s assault on Ukraine has reminded the world about the threat it faces from Moscow. But that’s not the only war that Russia has been fighting and Ukraine is not the only target.

Long before February 2022, Russia was already engaged in semi-covert campaigns across Europe and around the world, using any means possible to expand its power and influence and leaving a trail of destruction along the way.

In his new book Russia’s War on Everybody, Chatham House associate fellow Keir Giles examines what this longer war means for us all. Instead of talking only to diplomats, politicians and generals, Giles has looked instead at the effect of Russia’s ambition on ordinary people.

Interviewing 40 eyewitnesses from four continents, he has tried to tell the stories the world doesn’t hear about the impact of Russia’s hostility on individuals and societies that may not even realize they are a target.

At this event, Giles introduces the book at Chatham House. He is joined by experts to talk about the human impact of Russia’s campaigns waged through leveraging corruption and cyber offensives respectively.

As with all members events, questions from the audience drive the conversation.

Read the transcript. 




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America's abortion ban will hurt women everywhere

America's abortion ban will hurt women everywhere The World Today mhiggins.drupal 9 August 2022

In the final part of a series on the impact of the Roe v Wade ruling, Nina van der Mark assesses the global impact of America’s reverse on reproductive rights.

In overturning the constitutional right to an abortion established by Roe v Wade, the Supreme Court of the United States placed the US alongside Poland, El Salvador and Nicaragua as countries that have restricted access to abortion in recent decades. While the Dobbs ruling is a domestic reversal, the US remains the largest funder of global health, family planning and reproductive health services. There is a lot at stake for women and girls around the world. 

Here are four potential global impacts to consider.

Millions of women will be at greater risk 

The Guttmacher Institute, a research and policy organization that aims to improve sexual and reproductive health worldwide, calculated that in 2021 American international family planning assistance saw an estimated 27.2 million women and couples receive contraceptive services, some 12 million pregnancies averted, four million unsafe abortions prevented and 19,000 maternal deaths avoided. These outcomes help to improve gender equity as well as increase women’s education and employment opportunities and boost economic growth. 

This happens despite US funding for international family planning being in decline over the past decade. It peaked during the Obama administration at $715 million in 2010 but since 2017 averaged about $607 million a year. Using US aid to directly fund abortions as a method of family planning is prohibited under the terms of the Helms Amendment of 1973.

In America, the Dobbs ruling has so far led 14 Republican-controlled states to enact anti-abortion legislation. This, in turn, has motivated pro-choice campaigners – on August 2, a referendum in the staunchly conservative state of Kansas returned a decisive vote to preserve abortion rights. That result gives hope to abortion-rights groups that the issue will cut across traditional political loyalties and bring swing voters to their cause in the mid-term congressional elections in November.  

That is important because Congress decides on the level of funding for America’s global health programmes, including family planning and reproductive health. The stakes are high. For instance, Kenya, Nigeria and Ethiopia, with a combined population of more than 370 million, are among the top 10 recipients of US Overseas Development Assistance, most of which goes to health programmes. Nigeria, for instance, received $794 million in such funding from America in 2019-2020. 

A sudden policy reversal affecting funding for reproductive health would lead to clinic closures, reduced access to help and shortages of essential family planning commodities. The result would be more unintended pregnancies, more unsafe abortions and a potential increase in maternal mortality. 

Women will have more unsafe abortions

The Helms Amendment, which prevents recipients of American aid directly funding abortion services, was passed by Congress in 1973 following the Roe v Wade decision. The Global Gag Rule, first enacted by Ronald Reagan in 1984, goes further, forbidding NGOs abroad in receipt of American aid from promoting or counselling abortion as a form of family planning, even when using their own funds. Since its introduction, Republican administrations have enforced the rule while Democratic administrations have rescinded it, as Biden did in January 2021.  

Restricting access to safe abortion services increases the number of unsafe abortions, whereas legalizing abortion services reduces them. During the Bush administration, the Global Gag Rule prompted a 12-per-cent increase in pregnancies in rural Ghana, which led to an additional 200,000 abortions. 

Another study found a substantial increase in abortions, a decline in contraceptive use and an increase in pregnancies in 26 countries in sub-Saharan Africa affected by the rule across three US administrations. It’s estimated that 77 per cent of abortions in the region are unsafe. In 2019 that translated into 6.2 million unsafe abortions.

The failure of America to consistently support safe abortion services contributes to the more than 35 million unsafe abortions that take place each year across 132 lower middle-income countries.  

Under the Trump administration, the Global Gag Rule was extended from family planning funding to cover all US global health assistance, increasing the level of US funding affected from around $600 million to $8.8 billion. Were a Republican administration to be elected in 2024 there is little doubt the rule would be reinstated, possibly in the most restrictive form that Trump enforced. 

Anti-abortion movements will double their efforts 

The repeal of Roe v Wade has not occurred in a silo, nor are its effects contained within the US.

News of the Dobbs ruling, which overturned Roe v Wade, prompted One of Us, a European anti-abortion platform, to mount an immediate, 20,000-strong anti-abortion demonstration in Spain, including leaders of the conservative Vox party.  On Twitter, Sara Larin, an anti-abortion activist from El Salvador, likened the Dobbs ruling to the abolition of slavery in the US, calling it ‘the beginning of the end for abortion [worldwide]’. 

Countries have based their legal protections for abortion access on Roe v Wade or cited it in their case law, which now opens them up to legal challenge domestically. A Christian anti-abortion group in Kenya is legally challenging a pro-choice ruling based on Roe v Wade. Such challenges may increase: anti-choice groups in Mexico and Peru cited the Dobbs ruling as an encouraging development. 

An offshoot of the American Center for Law and Justice contributed to the legal case that helped overturn abortion rights in Poland

Many American Christian right-wing groups fund anti-abortion activities abroad. OpenDemocracy, an independent global media platform, recently reported that 28 Christian right-wing organizations spent more than $280 million internationally between 2007-2018 on anti-choice activities, targeting Europe primarily, followed by Africa and Asia.  

The American right is not afraid to take direct legal action abroad either. The European Center for Law and Justice, an offshoot of the Trump-backed American Center for Law and Justice, has made interventions in dozens of court cases on sexual and reproductive health and rights in the European Court, including in the case that overturned abortion rights in Poland.   

The European parliament in its most recent motion on the topic expressed concern about the potential for the Dobbs ruling to prompt a surge in the flow of money to anti-choice groups around the world.  

America’s global standing will take a hit 

The Dobbs ruling immediately attracted criticism from many world leaders.  ‘Watching the removal of a woman’s fundamental right to make decisions over their own body is incredibly upsetting,’ said Jacinda Ardern, the New Zealand prime minister. ‘To see that principle now lost in the United States feels like a loss for women everywhere.’  

President Emmanuel Macron of France tweeted: ‘I wish to express my solidarity with the women whose liberties are being undermined by the Supreme Court of the United States.’ 

Javier Milei, a potential candidate in Argentina’s presidential election, welcomed the Dobbs ruling

The ruling is in conspicuous opposition to the Biden administration’s more progressive stance on sexual and reproductive health and rights and its advocacy abroad. It sends a clear message from the world’s most powerful democracy that these rights are not guaranteed. 

While many world leaders reacted to the Dobbs ruling with dismay, other senior figures from the conservative right welcomed it, including the Brazilian President Jair Bolsonaro’s son, Eduardo, and Javier Milei, a potential candidate in Argentina’s presidential election next year.  

In 2020, the Trump administration co-sponsored the ‘Geneva Consensus Declaration on Promoting Women’s Health and Strengthening the Family,’ declaring that there was ‘no international right to abortion.’ It was signed by more than 30 countries, including autocratic and right-wing governments in Brazil, Poland, Hungary and Saudi Arabia.  

The Biden administration withdrew from it – but its signatories are the governments who may yet take advantage of America’s self-inflicted erosion of authority on reproductive rights.  

The Dobbs ruling exposes the limitation of the American executive to act within the US legal system while opening up questions on American support of, and dedication to, fundamental rights.

Read the other two articles in this series: ‘Empowering women aids climate resilience’ and ‘Counting the cost of the abortion ban

 




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A Credit-fuelled Economic Recovery Stores Up Trouble for Turkey

A Credit-fuelled Economic Recovery Stores Up Trouble for Turkey Expert comment sysadmin 17 February 2020

Turkey is repeating the mistakes that led to the 2018 lira crisis and another freefall for the currency may not be far off.

Headquarters of the Central Bank of the Republic of Turkey. Photo: Getty Images.

Since the 2018 economic crisis, when the value of the lira plummeted and borrowing costs soared, Turkey’s economy has achieved a miraculous ‘V-shaped’ economic recovery from a recession lasting three quarters to a return back to quarterly growth above 1 per cent in the first three months of 2019.

But this quick turnaround has been built on vast amounts of cheap credit used to re-stimulate a consumption and construction boom. This so-called ‘triple C’ economy generated a rapid growth spurt akin to a modestly able professional sprinter injected with steroids.

This has made the currency vulnerable. The lira has steadily depreciated by 11 per cent against the US dollar since the beginning of 2019 and crossed the rate of 6 lira versus the US dollar on 7 February. And there are further warning signs on the horizon.

Credit bonanza

Statistics reveal that Turkish domestic credit grew by around 13 per cent on average throughout 2019. The credit bonanza is still ongoing. Mortgage-backed home sales jumped by a record high of 600 per cent last December alone and the 2019 budget deficit catapulted by 70 per cent due to higher government spending.

Turkey’s central bank fuelled this credit expansion by cutting interest rates aggressively to below inflation and, since the start of this year, purchasing lira-denominated bonds equivalent to around one-third of total acquisitions last year to push yields lower.

Equally, it has linked bank lending to reserve requirements – the money that banks have to keep at the central bank – to boost borrowings via state and private banks. Banks with a ‘real’ loan growth (including inflation) of between 5 and 15 per cent enjoy a 2 per cent reserve ratio on most lira deposits, which authorities adjusted from an earlier band of 10-20 per cent that did not consider double-digit inflation.

Cumulatively, bond purchases (effectively quantitative easing) and reserve management policies have also contributed to eased credit conditions.

Commercial banks have also reduced deposit rates on lira accounts to less than inflation to encourage consumption over saving. Together with low lending rates, the boost to the economy has flowed via mortgages, credit card loans, vehicle leasing transactions and general business borrowings.

Accordingly, stimulus is at the forefront of the government’s economic approach, as it was in 2017 and 2018. It does not seem to be implementing structural change to re-orient growth away from consumption towards productivity.

In addition, governance is, again, a central issue. President Recep Tayyip Erdogan’s near total monopolization of policymaking means he guides all domestic and external policies. He forced out the previous central bank governor, Murat Cetinkaya, in July 2019 because he did not share the president’s desire for an accelerated pace of interest rate reductions.

New challenges

Despite the similarities, the expected future financial turbulence will be materially different from its 2018 predecessor in four crucial respects.

Firstly, foreign investors will only be marginally involved. Turkey has shut out foreign investors since 2018 from lira-denominated assets by restricting lira swap arrangements. Unsurprisingly, the non-resident holdings of lira bonds has plummeted from 20 per cent in 2018 to less than 10 per cent today.

Secondly, the Turkish government has recently introduced indirect domestic capital controls by constraining most commercial transactions to the lira rather than to the US dollar or euro to reduce foreign currency demand in light of short-term external debt obligations of $191 billion.

Thirdly, the Turkish state banks are intervening quite regularly to soften Lira volatility, thereby transitioning from a ‘free float’ to a ‘managed float’. So far, they have spent over $37 billion over the last two years in a futile effort to buttress the lira. This level of involvement in currency markets cannot be maintained.

Fourthly, the Turkish state is being far more interventionist in the Turkish stock exchange and bond markets to keep asset prices elevated. Government-controlled local funds have participated in the Borsa Istanbul and state banks in sovereign debt to sustain rallies or reverse a bear market.

All these measures have one running idea: exclude foreign investors and no crisis will recur. Yet, when the credit boom heads to a downturn sooner or later, Turks will probably escalate lira conversions to US dollars; 51 per cent of all Turkish bank deposits are already dollar-denominated and the figure is still rising.

If Turkey’s limited foreign reserves cannot satisfy the domestic dollar demand, the government may have to impose comprehensive capital controls and allow for a double digit depreciation in the value of the lira to from its current level, with significant repercussions on Turkey’s political stability and economic climate.

To avoid this scenario, it needs to restore fiscal and monetary prudence, deal the with the foreign debt overhang in the private sector and focus on productivity-improving economic and institutional reforms to gain the confidence of global financial markets and Turks alike.




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Google Cloud and Oracle Veteran Amit Zavery to Spearhead Product and Engineering at ServiceNow

SANTA CLARA, Calif., Oct. 25, 2024 — ServiceNow has announced that enterprise software industry veteran Amit Zavery will join the company as president, chief product officer (CPO), and chief operating officer […]

The post Google Cloud and Oracle Veteran Amit Zavery to Spearhead Product and Engineering at ServiceNow appeared first on HPCwire.




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People Have Very Different Understandings of Even the Simplest Words

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Polis: Proposed budget will ease suffering, set up recovery




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In Kodiak, Alaska, a school district with deep ties to the U.S. Coast Guard has been walloped by the government shutdown with hundreds of families going without paychecks. And news of a deal to temporarily reopen the government was doing little to allay the community's anxieties.




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Texas A&M football’s CFP rankings update: Everything to know

Where did Texas A&M land in the latest CFP bracket? Here’s the College Football Playoff picture for the Aggies and their path to the championship.




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Miami landed 9th in the latest CFP bracket. Here’s the College Football Playoff picture for the Hurricanes and path to the championship.




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Penn State football landed Xth in the second CFP rankings. Here’s the College Football Playoff picture for the Nittany Lions.




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A new exhibition co-presented by the National Portrait Gallery and the Archives of American Art explores the seminal artist’s work




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Kennedy Center president Deborah Rutter interviews the co-founder of MIT’s Little Devices Lab about democratizing health technology




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Video by David VanZandt




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Writing Letters to Everyone in the World

Two British artists travel to Pittsburgh for their second installment of their "Mysterious Letters" art project.




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Whether you're a passionate astronomer or a beginner eager to explore the cosmos, join us as we deep-dive into seasonal skywatching. Gain valuable insights into identifying meteors, stars, and fascinating deep-sky objects that grace the night sky. Interested in learning more? Check out this piece from Smithsonian Magazine on the celestial events to watch in 2024: https://www.smithsonianmag.com/science-nature/nine-dazzling-celestial-events-to-watch-in-2024-180983505/ And don't forget to subscribe to our channel for more exciting videos exploring the wonders of the natural world. --- Digital Editorial Director: Brian Wolly Supervising Producer & Scriptwriter: Michelle Mehrtens Video Editor: Sierra Theobald




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The Discovery of a 5,000-Year-Old Society in Morocco Reveals an Ancient Farming Culture

At the site known as Oued Beht, archaeologists uncovered evidence of a large farming settlement where people used advanced techniques




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American Scientists Win Nobel Prize in Medicine for 'Groundbreaking' Gene Discovery Made by Studying Worms

Victor Ambros and Gary Ruvkun discovered microRNA, tiny molecules that play a crucial role in how cells develop, paving the way for new treatments for diseases




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He Escaped Slavery and Became a Civil War Hero. Now, Robert Smalls Is Getting a Statue in South Carolina

A special committee has until January 15 to finalize the design, location and funding for a monument that will be erected on the lawn of the South Carolina State House




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Michelle Frankfurter tells the stories of these young migrants and also those of the thousands who jump aboard “the death train”




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Windsor school board trustee says recent education cuts had 'very little' to do with resigning

Midway through her second term as a public school board trustee in Windsor-Essex, Sarah Cipkar is resigning for what she calls mainly “personal and professional” reasons.



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Oilers captain Connor McDavid makes speedy recovery, returns to action against Vegas

Connor McDavid retured from injury — well ahead of schedule. The Oilers captain re-entered the lineup when Edmonton hosted the Vegas Golden Knights on Wednesday.



  • Sports/Hockey/NHL

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Rachel Homan and John Morris join That Curling Show fresh off the news they have been chosen to represent Canada in mixed doubles curling at the Beijing Olympics.




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By Blog, Tweet, and Vote, DS SolidWorks Invites Engineers Everywhere To Contribute Ideas To New Interactive Product Design Web Show

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Early Black Friday deals: save up to $300 on every M4 MacBook Pro 14-inch & 16-inch

Early Black Friday deals are in effect on Apple's 2024 MacBook Pro M4, with every configuration — retail and CTO — eligible for a coupon discount.


Save up to $300 on Apple's new MacBook Pro M4 - Image credit: Apple

Unlock savings of up to $300 off the configuration of your choosing with promo code APINSIDER at Apple Authorized Reseller Adorama. These deals offer aggressive discounts ahead of Black Friday, taking the stress out of holiday shopping.

Use code APINSIDER


Continue Reading on AppleInsider | Discuss on our Forums




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Early Black Friday deals: save up to $150 on every M4 iMac

You can score up to $150 off Apple's brand-new 2024 M4 iMac and get your hands on one of the best all-in-one desktops. Plus, AppleCare is discounted too.


Save on every 2024 iMac M4 config - Image credit: Apple

Apple announced the updated M4 iMac in late October, offering a performance bump to its colorful desktop computer. An early Black Friday offer allows you to score a discount of up to $150 off when you use the promo code APINSIDER at Apple Authorized Reseller Adorama.

Use code APINSIDER


Continue Reading on AppleInsider | Discuss on our Forums




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Missions is for everyone

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