KTFA Members "News and Views" Monday PM 5-17-2021

KTFA:

Samson:  Saudi Arabia seeks to forgive Sudan of $ 4.5 billion in debt

17th May, 2021

Saudi Arabia is seeking to exempt Sudan from debts amounting to $ 4.5 billion, according to Bloomberg News, citing Sudan’s official TV

In a related context, the Vice President of the World Bank for Eastern and Southern Africa, Hafez Ghanem, revealed a grant to support Sudan in the amount of two billion dollars, according to the official Sudanese News Agency (SUNA)

This grant comes in addition to supporting the families program, combating the Corona pandemic, the energy sector, especially solar energy, and promoting the use of technology, according to Ghanem, who emphasized work to strengthen human capital in Sudan through the Bank and international partners

During his speech on Monday, at the Paris Conference to support the democratic transition in Sudan, he pointed to the positive effects of economic reforms on the development level in a short period of time, stressing that Sudan will achieve great opportunities and that it is rich with large livestock

He explained that the geographical location of Sudan qualifies it to reach regional markets, especially in the north, in addition to its huge potentials that will lead to creating an investment climate, and Hafiz called on the international community to continue supporting Sudan, stressing that the World Bank is working to enhance the investment environment in Sudan

"We are looking forward to more work with the government," he said, adding that the partnership with the World Bank is very important. He explained that Sudan has regained its full membership in the World Bank, calling on investors to take advantage of the opportunities present and available in Sudan   LINK

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Samson:  Setting a new date for the World Economic Forum

05/17/2021 17:43:38

The World Economic Forum announced today, Monday, that its annual meeting, "Davos", has been postponed and moved from Singapore in light of the emerging Corona virus crisis.

The World Economic Forum said in a statement that the next annual meeting will be in the first half of next year 2022, with a final venue to be decided later.

The forum added that it is impossible to hold a global meeting in light of the pandemic and the confusion of travel and the disparity in the distribution of vaccines and new virus strains, according to "Reuters".

Thus, the World Economic Forum has canceled a special annual meeting that was scheduled to be held in Singapore within 3 months.

The World Economic Forum is an international, non-governmental and not-for-profit institution, famous for its annual forum, which is usually organized in January every year in the town of Davos in Switzerland, and it brings together an elite of businessmen and women, politicians and academics to discuss the economic and political challenges facing the world and ways to solve them.  LINK

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Samson:  Al-Lahibi warns of a popular explosion in Iraq .. Poverty has reached very critical stages

On Sunday, MP Iqbal Al-Lahibi warned of a popular explosion in Iraq due to severe poverty.

Al-Lahibi said in an interview with Al-Ma'amah, that “the level of poverty in Iraq has reached a critical stage, confirming that the talk is that its percentage ranges between 30-40% is less than the reality, especially since the slums have turned into cities that show the harsh conditions and their accumulations that have pushed thousands of families to A very painful situation.”

Al-Lahibi added, “The economic crisis and the repercussions of raising the price of the dollar and the conditions of Corona have increased poverty rates by 15%, especially in Diyala and the rest of the provinces that have suffered a security setback after June 2014, pointing to the difficult situation, warning of a popular explosion if there are no serious efforts to confront the growing poverty. The material need that leads us to disastrous consequences in the growth of organized crime and exploitation by terrorism."  LINK

Ross:  A simple solution would be to improve the value of the IQD.  This week would be a good time for show and tell. IMO

Osmosis:  Thats too easy for these over-thinkers, IMO