Source: New Zealand Ministry of Foreign Affairs and Trade – Safe Travel
Reviewed: 4 November 2024, 14:48 NZDT
Still current at: 4 November 2024
Related news features
If you are planning international travel at this time, please read our COVID-19 related travel advice here, alongside our destination specific travel advice below.
Do not travel to Burkina Faso due to the volatile security situation and the high threat of kidnapping, terrorism and armed banditry (level 4 of 4).
Burkina Faso
Terrorism There is a high threat of terrorism in Burkina Faso, particularly in border areas with Mali and Niger. States of emergencies remain in place in several border regions. In 2018, terrorist groups released a statement declaring their intention to target westerners and western companies in the Sahel. There have been multiple attacks in the capital and elsewhere in the country since 2016, including:
On 11 June 2022, over 100 people were killed in an attack in Seytenga, Seno Province.
On 4 and 5 June 2021, over 160 people were killed in attack on Solhan village, in the northeast.
On 26 April 2021, 3 foreign nationals were killed in an ambush on the PK 60 road between Fada-N’Gourma and Pama.
On 1 December 2019, at least 14 people were killed in a shooting attack inside a church in Hantoukoura.
On 5 November 2019, 37 people were killed and a further 60 injured in an attack on a convoy carrying workers to a Canadian gold mine near Boungou.
On March 2, 2018, extremists attacked the French Embassy and Burkina Faso’s military headquarters in downtown Ouagadougou. Eight security force personnel, including soldiers and police officers were killed and over 80 others were injured.
On 13 August 2017, gunmen attacked the Aziz Istanbul restaurant in Ouagadougou, killing at least 18 people.
On 15 January 2016, armed gunmen attacked the Splendid Hotel and Café Cappuccino in Ouagadougou resulted in 30 deaths, a large number of whom were foreign nationals.
Terrorist attacks could occur at anytime, anywhere in Burkina Faso and may be directed at locations with foreign interests or known to be frequented by foreigners, such as embassies, hotels, bars, restaurants, markets, airports, shopping areas, tourist sites, public transport facilities, mining operations and places of worship.
New Zealanders throughout Burkina Faso are advised to maintain a high degree of security awareness at all times, particularly in public areas. Avoid all large gatherings, including music festivals, concerts, sporting events and any public demonstrations or protests. Keep yourself informed of potential risks to safety and security by monitoring the media and other local sources of information and follow the instructions of local authorities at all times.
Kidnapping There is a heightened threat of kidnapping in Burkina Faso. Terrorist groups such as Al Qaeda in the Islamic Maghreb (AQIM) have stated their intention to kidnap foreigners and may cross the borders from Mali and Niger to carry out kidnappings.
A number of foreigners have previously been kidnapped in Burkina Faso and the wider Sahel region. In April 2022, a Polish national was kidnapped in north-eastern Burkina Faso and in September 2022, a US national was kidnapped in Yalgo, also in north-eastern Burkina Faso. The threat is likely to continue.
New Zealanders in Burkina Faso are strongly advised to seek professional security advice or protection before travelling to areas of particular risk.
Political Situation/Civil Unrest The security situation has deteriorated significantly in recent years. The political situation continues to evolve following the military coup on 30 September 2022.
Demonstrations occur regularly and have taken place in major cities. They have the potential to result in violence or clashes, gunfire has been reported in Ougadougou. Expect an increased security presence country-wide and comply with any instructions issued by the local authorities, including any curfews or restrictions of movement. Continued disruptions to internet and other telecommunication services are possible.
New Zealanders in Burkina Faso are advised to avoid all protests, demonstrations and large gatherings.
Banditry Banditry is a security concern in Burkina Faso. There continue to be reports of attacks by armed criminals on vehicles, including buses, travelling on a variety of main and secondary roads across the country. Criminals have used road blocks to stop and rob travellers and have been known to open fire on vehicles that refuse to stop. While bandits mainly steal valuables, they may physically harm victims during the course of a robbery.
The highest number of incidents occur in the eastern region but there have been a number of attacks in other regions and the threat exists throughout Burkina Faso. Remote and border regions are especially vulnerable.
New Zealanders in Burkina Faso are advised to travel in convoy if possible, stay on clearly marked roads and avoid travel by night outside major centres. You should seek local advice before setting out and follow a police patrol where possible.
Crime Street crime is prevalent in Burkina Faso and foreigners may be specifically targeted due to their perceived wealth. Bag-snatchings, muggings and theft from hotel rooms are common, particularly in Ouagadougou. The central market and the area around the United Nations circle are often targeted by thieves. Theft is often perpetrated by one or two people on motorbikes.
Criminals in urban areas may carry knives in order to cut straps on bags and can become violent if the victim is non-compliant. Sexual assault occurs periodically in smaller towns and within Ouagadougou.
New Zealanders are advised to exercise particular vigilance in crowded or public areas, avoid showing signs of affluence and keep personal belongings secure at all times.
When driving you should keep doors locked, windows up and keep any valuables out of sight. Avoid travelling alone at night, as risks increase after dark.
Scams Commercial and internet fraud is a common problem in Burkino Faso. New Zealanders in Burkina Faso should be wary of any offers that seem too good to be true, as they may be a scam. For further information see our advice on Internet Fraud and International Scams and Internet dating scams.
General Travel Advice As there is no New Zealand diplomatic presence in Burkina Faso, the ability of the government to provide consular assistance to New Zealand citizens is extremely limited.
We offer advice to New Zealanders about contingency planning that travellers to Burkina Faso should consider.
New Zealanders are advised to respect religious and social traditions in Burkina Faso to avoid offending local sensitivities.
Modern medical services in Burkina Faso are very limited, New Zealanders travelling or living in Burkina Faso should have a comprehensive travel insurance policy in place that includes provision for medical evacuation by air.
New Zealanders in Burkina Faso are strongly encouraged to register their details with the Ministry of Foreign Affairs and Trade.
Eight member countries of the OPEC+ oil-producing group anounced on Sunday to further extend their voluntary output cuts by a month, pushing the reductions through the end of December in response to ongoing weak oil prices.
OPEC+ comprises the Organization of the Petroleum Exporting Countries (OPEC) and its allies. The eight countries participating in these cuts are Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman.
In a statement, OPEC confirmed that these countries have “agreed to extend the November 2023 voluntary production adjustments of 2.2 million barrels per day for one month until the end of December 2024.”
The countries also reiterated their commitment to “achieve full conformity” with their production targets and to compensate for any overproduction by September 2025.
This decision follows an earlier move in September when the eight countries extended their voluntary production cuts, originally due to expire at the end of September, by an additional two months.
Oil prices have generally trended downward in recent weeks amid concerns over slowing global demand.
VICTORIA, Seychelles, Nov. 04, 2024 (GLOBE NEWSWIRE) — Bitget Wallet, the leading non-custodial Web3 wallet, recently sponsored the TON Gateway event held in Dubai. The ecosystem attributes its widespread adoption to the growing TON community. The Web3 wallet was represented in a panel discussion titled “Perspective Sectors on TON for VC and Exchanges,” by Jamie Elkaleh, Marketing Director at Bitget Wallet, alongside industry leaders from TON Ventures, Binance, KuCoin, Kenetic, and Pantera Capital. In the panel, Elkaleh emphasized the unique opportunities presented by the TON ecosystem and how the newly launched Bitget Wallet Lite, a multi-chain Telegram wallet, addresses existing TON ecosystem and infrastructure challenges which helped them onboard over 6 million users in just three days after its launch.
Elkaleh highlighted that the integration of TON with Telegram—a platform boasting nearly 1 billion users—provides an expansive user base that can effectively bridge Web2 and Web3. However, he noted significant challenges within the TON ecosystem, particularly the underdeveloped DeFi sector. Compared to leading blockchains, TON’s DeFi projects lag in both quantity and quality, limiting the potential for growth. Although the primary user base is driven by Telegram mini-apps, the lack of a robust DeFi infrastructure restricts the overall development of the TON ecosystem, hindering its growth potential.
Recently, Bitget Wallet has launched Bitget Wallet Lite, a non-custodial multi-chain wallet integrated within Telegram, that helps tackle TON’s challenges. This innovative wallet allows users to seamlessly purchase, manage, and transfer crypto assets directly within the messaging app, facilitating cross-chain DeFi activities, and will support more activities token swap, staking, and liquidity mining in the future. By enhancing user interactions and transactions, Bitget Wallet Lite promotes ecosystem integration, making crypto operations more efficient and user-friendly directly within Telegram. Furthermore, the wallet empowers developers by providing tools for encrypted payments and trading flows, creating new revenue streams and fostering the development of high-quality mini-game applications within the Telegram ecosystem. Looking ahead, Bitget Wallet Lite is bound to onboard more Web2 users into Web3 seamlessly and contribute to the growth of the TON ecosystem.
Bitget Wallet has seen remarkable growth this year, now surpassing 40 million users globally and becoming the most downloaded Web3 wallet. Its integration with Telegram and the TON ecosystem has been pivotal to this success, enabling users to manage assets and interact with DApps effortlessly. Recent statistics show a staggering 4886% quarterly growth in TON chain addresses among Bitget Wallet users. The company’s proactive initiatives, including being the first to fully integrate with the TON ecosystem, launching the first MPC wallet supporting TON and partnering with over 40 TON ecosystem projects, have established Bitget Wallet as a leader in driving ecosystem growth and simplifying user access to TON.
Looking to the future, Elkaleh envisions a bright trajectory for the TON ecosystem. “The growth of the TON ecosystem will continue to be driven by Telegram mini-apps integrating more social, DeFi and gaming activities, simplifying the experience for new users,” he stated. “With the rise of PayFi initiatives and the expansion of the ecosystem, TON is well-positioned to leverage its connection with Telegram for significant user adoption. We estimate that the stablecoin transfers on TON will also continue to grow over the next year, underscoring the vast potential for growth within this dynamic ecosystem.”
Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 40 million users, it offers comprehensive on-chain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser, and an NFT marketplace. Designed for everyone from beginners to advanced traders, it supports mnemonic, MPC, and AA wallet options. With connections to over 100 blockchains, 20,000+ DApps, and 500,000+ tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300 million protection fund for your digital assets.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, THE UNITED STATES OF AMERICA OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
On October 31, 2024, the New Development Bank (NDB) successfully priced a 3-Year USD 1.25 billion Green Bond, paying an annual coupon of 4.677 per cent (equivalent to SOFR MS + 80 bps), under its Euro Medium Term Note Programme, which will be issued on 7 November 2024, subject to final legal documentation and customary closing conditions.
An amount equal to the net proceeds from the Bond issuance will be allocated to finance and/or refinance, in whole or in part, past or future disbursement of loans made to eligible green projects in accordance with NDB’s Sustainable Financing Policy Framework dated 25 May 2020 in such sectors as clean transportation, climate change adaptation, energy efficiency, low-carbon and renewable energy, sustainable water management, etc. NDB’s Sustainable Financing Policy Framework governs issuances of green, social and sustainability debt instruments, including the use and management of bond proceeds, project selection and evaluation process, reporting and disclosure.
The USD 1.25 billion Green Bond received strong demand from investors, with the final order book exceeding USD 2.2 billion. Geographically, the issuance attracted a diverse investor base, with 66% of investors from Asia and 34% from the EMEA region. The composition of the final order book was as follows: Central Banks, Official Institutions, and Sovereign Wealth Funds – 52%; Banks – 43%; Asset Managers, Fund Managers, and others – 5%.
Bank of China, Emirates NBD Capital, First Abu Dhabi Bank, ICBC, and Standard Chartered Bank (B&D) acted as Joint Lead Managers of the transaction. CITIC Securities served as a Co-Manager of the transaction.
“The strong demand and good pricing conditions obtained underscore the confidence of investors in NDB’s financial stability and its mandate of mobilizing resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries,” said Mr. Monale Ratsoma, NDB Vice-President and Chief Financial Officer.
“New Development Bank is committed to being a regular issuer in both hard currency and local currencies of its member countries. Our issuances are guided by market conditions, investor demand and the requirements of the Bank’s lending portfolio. NDB aims to build a liquid benchmark curve over time with issuances across different maturities, enhancing its capacity to finance infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries”.
Background Information
New Development Bank was established with the purpose of mobilizing resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries, complementing the efforts of multilateral and regional financial institutions for global growth and development. In 2021, NDB initiated membership expansion and admitted Bangladesh, Egypt, United Arab Emirates and Uruguay as its new member countries.
In December 2019, NDB established its inaugural USD 50 billion Euro Medium Term Note Programme (EMTN Programme) in the international capital markets.
IMPORTANT DISCLAIMER: This announcement does not constitute or form part of an offer to sell or the solicitation of an offer to sell or subscribe for or otherwise acquire any securities (including, without limitation, the green bonds mentioned above (the “Bonds“)).
This announcement is not a prospectus for the purposes of Regulation (EU) 2017/1129 or that Regulation as it forms part of United Kingdom law.
The Bonds are not being, and will not be, offered or sold in the United States. Nothing in this announcement constitutes an offer to sell or the solicitation of an offer to buy the Bonds in the United States or any other jurisdiction. Securities may not be offered, sold or delivered in the United States absent registration under, or an exemption from the registration requirements of, the Securities Act. The Bonds have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States and may not be offered, sold or delivered, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act of 1933, as amended).
No action has been or will be taken in any jurisdiction in relation to the Bonds to permit a public offering of securities.
This announcement is directed only at (i) persons who are outside the United Kingdom (the “UK“), or (ii) persons who are in the UK who are (a) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order“) or (b) otherwise, persons to whom this announcement may lawfully be communicated pursuant to the Order (all such persons together being referred to as “relevant persons“). This announcement is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons. This electronic transmission may only be communicated to persons in the UK in circumstances where section 21(1) of the Financial Services and Markets Act 2000 does not apply to the Issuer.
Credit ratings should not be taken as recommendations by a rating agency to buy, sell or hold the Bonds. They may be revised, suspended or withdrawn at any time by the relevant rating agency.
Prohibition on sales to EEA and UK retail investors: Target Market (MiFID II / UK MiFIR) is Eligible Counterparties and Professional clients only (all distribution channels). No EU PRIIPs or UK PRIIPs key information document (KID) has been prepared as the Notes are not available to retail in EEA or the UK.
Relevant stabilisation regulations including FCA/ICMA will apply.
n this International Day to End Impunity for Crimes against Journalists, we reaffirm our commitment to press freedom and the safety of journalists worldwide.
A free press is fundamental to human rights, democracy, and the rule of law. Yet journalists around the world are prevented from doing their job and often face threats, violence, and even death in their mission to bring truth to light and hold the powerful to account.
Recent years have seen an alarming rate of fatalities in conflict zones – in particular in Gaza, which has seen the highest number of killings of journalists and media workers in any war in decades.
Worldwide, an estimated 9 out of 10 of journalist murders go unpunished. Impunity breeds further violence. This must change.
The Pact for the Future adopted last month calls for respecting and protecting journalists, media professionals and associated personnel working in situations of armed conflict.
I call on governments to bring these commitments to life by taking urgent steps to protect journalists, investigate crimes against them, and prosecute perpetrators – everywhere.
Together, let’s end the cycle of violence, uphold freedom of expression, and ensure that journalists can carry out their essential work safely and without fear – everywhere.
***** La Journée internationale de la fin de l’impunité pour les crimes commis contre des journalistes est l’occasion de réaffirmer notre engagement en faveur de la liberté de la presse et de la sécurité des journalistes dans le monde entier.
La liberté de la presse est une condition indispensable des droits humains, de la démocratie et de l’état de droit. Pourtant, dans le monde entier, des journalistes sont empêchés de faire leur travail ; ils sont souvent la cible de menaces ou de violences et risquent même la mort dans la mission qui est la leur de faire éclater la vérité et de mettre les puissants devant leurs responsabilités.
Ces dernières années, le nombre de morts a atteint un niveau alarmant dans les zones de conflit – en particulier à Gaza, où le nombre de journalistes et professionnels des médias tués dépasse tout autre conflit depuis des décennies.
Dans le monde, on estime que 9 meurtres de journalistes sur 10 restent impunis. L’impunité engendre de nouvelles violences. Cela doit changer.
Le Pacte pour l’avenir adopté le mois dernier appelle au respect et à la protection des journalistes, des professionnels des médias et des membres du personnel associé qui travaillent dans des situations de conflit armé.
Je demande aux gouvernements de concrétiser ces engagements en prenant sans délai des mesures pour protéger les journalistes, enquêter sur les crimes qui les visent et en poursuivre les auteurs – partout dans le monde.
Ensemble, mettons fin au cycle de la violence, défendons la liberté d’expression et veillons à ce que les journalistes puissent mener à bien leur mission essentielle en toute sécurité et sans crainte – partout dans le monde.
n the midst of so much pain and agony in the Middle East, I greet you with the most fitting sentiment: Peace, Salam, and Shalom.
The 2024 United Nations International Media Seminar on Peace in the Middle East is being held under profoundly difficult circumstances. Last month marked one year since the horrific acts of terror perpetrated by Hamas in Israel – and the start of the second year of the ongoing atrocious onslaught in Gaza that is spreading to Lebanon and beyond.
At the same time, the situation in the occupied West Bank, including East Jerusalem, continues to deteriorate with Israeli military operations, construction of settlements, evictions of Palestinians, and intensification of settler attacks – progressively undermining any possibility of a two-state solution.
Yet, so many stories remain untold. Journalists in Gaza have been killed at a level unseen in any conflict in modern times. The ongoing ban preventing international journalists from Gaza suffocates the truth even further. At the same time, several journalists have also been killed or injured covering key stories impacting the occupied West Bank.
This is unacceptable. The voices of journalists must be protected and press freedom must be safeguarded.
As we look ahead, the position of the United Nations is clear and unwavering: the war must stop, peace must advance, and the occupation must end.
It is high time for an immediate ceasefire in Gaza and Lebanon, with the immediate and unconditional release of all hostages, the effective delivery of humanitarian aid, and irreversible progress to a two-state solution – Israel and Palestine – living side by side in peace and security, with Jerusalem as the capital of both States.
The Honourable Rechie Valdez, Minister of Small Business, celebrated Small Business Month (SBM) by meeting with local entrepreneurs and business organizations to highlight the federal government supports that are available to help them thrive.
November 1, 2024 – Ottawa, Ontario
The Honourable Rechie Valdez, Minister of Small Business, celebrated Small Business Month (SBM) by meeting with local entrepreneurs and business organizations to highlight the federal government supports that are available to help them thrive.
Minister Valdez kicked off October by announcing that the federal government has negotiated lower credit card interchange fees by up to 27% for small businesses across Canada. These lower fees for Visa and Mastercard took effect on October 19, 2024. Minister Valdez also announced that the Canada Carbon Rebate will be distributing $2.5 billion to about 600,000 small and medium-sized businesses across Canada where the federal fuel charge applies. The amount is dependent on a business’ number of employees. For example, Ontarian small businesses will receive $401 per employee. Small and medium-sized businesses that filed their taxes before July 15 will receive an automatic payment by the end of this year.
Throughout SBM, Minister Valdez met with small business owners across the country. She also engaged with diverse groups of entrepreneurs at the Mississauga Board of Trade, the CanadianSME Magazine Small Business Summit, the Casa Foundation for International Development’s Friends of Africa summit, the Elevate Festival, the Alliance of Nigerian Entrepreneurs gathering, the RPA Women Entrepreneur Awards Gala, the Federation of African Canadian Economics’ Small Business Sunday event, the Toronto Small Business Forum, and the Misfit Ventures Misfits Unleashed event.
Minister Valdez also updated entrepreneurs on federal investments to help small businesses adopt digital tools and innovations, including the $2.4 billion committed in Budget 2024 to secure Canada’s artificial intelligence (AI) advantage. This includes $200 million in the Regional Artificial Intelligence Initiative, which will help bring new AI technologies to market and accelerate AI adoption by small businesses across the country. She also mentioned the Canada Digital Adoption Program, which has helped more than 60,000 small businesses improve their digital capabilities and adopt e-commerce platforms.
The Minister wrapped up her SBM-related activities on October 30 by announcing a new partnership between the First Nations Health Authority and the CAN Health Network that will help over 200 First Nations communities across British Columbia access health care innovations from Canadian start-ups. Start-ups in the health care sector have expressed that they face unique challenges breaking into the new market and increasing uptake of their technologies. The federal government’s investment in the CAN Health Network is connecting innovative health care providers with promising start-ups that are offering made-in-Canada solutions to meet their unique needs and challenges.
Quotes
“Small businesses are the heart of our communities and the backbone of our economy, employing nearly 8 million hard-working Canadians. It was incredible to spend Small Business Month celebrating their invaluable contributions and meeting key organizations that are dedicated to helping entrepreneurs thrive. Our government will continue to have the backs of small businesses from coast to coast to coast, whether they’re just starting out, looking to grow or striving to extend their reach into new markets.” – The Honourable Rechie Valdez, Minister of Small Business
Quick facts
The Canada Carbon Rebate for Small Businesses is a refundable tax credit to return a portion of federal fuel charge proceeds directly to eligible businesses.
Businesses will not have to apply for this rebate. The Canada Revenue Agency will determine and automatically issue the rebate amounts for eligible businesses based on the payment rates of each applicable province for the corresponding fuel charge years, as specified by the Minister of Finance.
The rebate will be available to eligible Canadian-controlled private corporations that had 499 or fewer employees in Canada throughout the calendar year in which the applicable fuel charge year began.
The federal fuel charge currently applies in the provinces of Alberta, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island and Saskatchewan. The Government of Canada does not keep any direct proceeds from pollution pricing. All direct fuel charge proceeds are returned in the province or territory of origin.
The Code of Conduct for the Payment Card Industry in Canada was first released in 2010 and was last updated in 2015.
All major payment card network operators in Canada incorporate the code into their rules, making it binding on all their network participants: issuers, acquirers and payment processors.
More than 1 million businesses that accept payment cards in Canada will benefit from the code revisions. In 2023, these businesses accepted approximately 14.1 billion card payments worth $1.2 trillion.
The increased transparency and disclosure elements of the revised code require payment processors to notify eligible businesses if network fee reductions will not be passed on in full. Additionally, payment processors must remind those businesses of their right to terminate their contract, enabling them to switch to a processor that passes on the benefits of rate reductions.
Under the existing code, businesses have the right to exit their contracts without penalty if they do not receive the full benefits of certain network fee decreases, such as the upcoming small business interchange reductions. But businesses have not always been aware of this right.
Businesses pay fees to process credit card transactions, with the largest component being the interchange fee paid to credit card–issuing financial institutions, such as banks. The federal government has finalized agreements to lower these fees for small businesses starting on October 19, 2024. Visa and Mastercard have agreed to:
reduce domestic consumer credit interchange fees for in-store transactions to an annual weighted average interchange rate of 0.95%
reduce domestic consumer credit interchange fees for online transactions by 10 basis points, resulting in reductions of up to 7%
provide free access to online fraud and cybersecurity resources to help small businesses grow their online sales while preventing fraud and chargebacks
allow small businesses to qualify with each credit card network individually
Small businesses with an annual Visa sales volume below $300,000 will qualify for the lower interchange fees from Visa, and those with an annual Mastercard sales volume below $175,000 will qualify for the lower fees from Mastercard.
Non-profit organizations with transaction volumes below these thresholds will also benefit from reduced rates.
Contacts
Callie Franson Senior Communications Advisor and Issues Manager Office of the Minister of Small Business callie.franson@ised-isde.gc.ca
Media Relations Innovation, Science and Economic Development Canada media@ised-isde.gc.ca
In an independent study commissioned by the United Nations Department of Peace Operations (DPO), new models for UN peacekeeping are outlined to address evolving global threats. Commissioned at the request of Germany and other co-chairs of the UN Peacekeeping Ministerial process, this study aims to shape discussions for the upcoming Berlin UN Peacekeeping Ministerial on May 13-14, 2025. The event will center on the theme: “The Future of Peacekeeping.”
The study finds that UN peacekeeping remains an effective multilateral tool for preventing and limiting armed conflict, sustaining peace, as well as responding to a broader range of threats to international peace and security. It also reviews security threats and challenges that future peacekeeping missions must address. Among the most important are armed conflict, the weaponization of new and emerging technologies, transnational organized crime, the climate crisis, and public health emergencies, which are combining in complex ways that ignore international political borders.
Looking to the future, fresh thinking is needed about what roles peacekeeping can and should play. The study’s vision for UN peacekeeping is a politically focused, people-centered, modular tool that can unite the Security Council around effective multilateral responses to a broad range of threats and challenges. To support this vision, the study offers 30 plausible models to inform future UN missions. The models describe a mix of longstanding peacekeeping tasks; how those traditional tasks might be performed in different ways in changed contexts and with new technologies; and propose novel activities for future UN peacekeeping.
This study also highlights the need for investments in key capabilities to strengthen current and future peacekeeping missions, irrespective of the precise combination of models and mandates. There are also strong links between peacekeeping and the UN’s broader prevention and peacebuilding agendas, as well as the Agenda 2030 for Sustainable Development, which can be reinforced further.
Peacekeeping Ministerial Co-chairs
The Co-chairs of the Peacekeeping Ministerial process are Bangladesh, Canada, Ethiopia, Ghana, Germany, Indonesia, Japan, the Netherlands, Pakistan, Republic of Korea, Rwanda, Uruguay, United Kingdom, United States and the United Nations Secretariat.
The Honourable Mélanie Joly, Minister of Foreign Affairs, yesterday concluded the Ministerial Conference on the Human Dimension of Ukraine’s 10-Point Peace Formula, which she co-hosted in Montréal with Ukrainian Minister of Foreign Affairs Andrii Sybiha and Norwegian Minister of Foreign Affairs Espen Barth Eide.
November 1, 2024 – Ottawa, Ontario – Global Affairs Canada
The Honourable Mélanie Joly, Minister of Foreign Affairs, yesterday concluded the Ministerial Conference on the Human Dimension of Ukraine’s 10-Point Peace Formula, which she co-hosted in Montréal with Ukrainian Minister of Foreign Affairs Andrii Sybiha and Norwegian Minister of Foreign Affairs Espen Barth Eide.
At the conference, the ministers announced the Montréal Pledge —concrete steps to help return prisoners of war, unlawfully detained civilians and deported children, including support as these people reintegrate into their daily lives.
Minister Joly hosted foreign ministers and high-level representatives from more than 70 countries and international organizations to advance Ukraine’s 10-Point peace formula, identify diplomatic approaches to address the human dimension of the war and strengthen the International Coalition for the Return of Ukrainian Children. The minister chaired a session on identifying strategies to increase the exchange of information on the locations, health statuses and legal statuses of prisoners of war, unlawfully detained civilians and deported children.
The harrowing survivor testimonies — from a detained Ukrainian military medic, the wife of an imprisoned journalist and a former prisoner of war — shared during the conference served as powerful reminders of the human cost of Russia’s war against Ukraine.
As co-chair of Working Group 4 and leader of the International Coalition for the Return of Ukrainian Children, Minister Joly thanked Qatar, South Africa and the Holy Sea for their offer to serve as intermediaries to support and negotiate the return of children. She also thanked the United Arab Emirates for the role they are continuing to play on mediating the exchanges of prisoners of war. Finally, she expressed her appreciation to Norway, Lithuania and Qatar, who have offered to provide a supportive environment for returning Ukrainians returning home.
During the conference, Prime Minister Justin Trudeau welcomed the diverse group of states that came together to find diplomatic solutions and concrete actions to protect Ukrainian people.
TORTOLA, British Virgin Islands, Nov. 01, 2024 (GLOBE NEWSWIRE) — November 1, 2024: Orca Energy Group Inc. (“Orca” or the “Company“) and includes its subsidiaries and affiliates, including PanAfrican Energy Tanzania Limited (“PAET“) and Pan African Energy Corporation (Mauritius) (“PAEM“) (TSX-V: ORC.A, ORC.B) announces an operational update.
Unless otherwise stated, all amounts referred to herein are expressed in United States dollars (“$”).
Songas Update
On October 30, 2024, PAET was advised by Songas Limited (“Songas”) that the Interim Power Purchase Agreement (“PPA”) will expire on October 31, 2024. At midnight on October 31, 2024, Songas shutdown the Songas Power Plan and it is unknown how long this will be in force. In the event that a new PPA is not entered into, there is a risk the Songas Power plant will shutdown indefinitely. This would adversely impact demand for production volumes from the Songo Songo gas field. At this time, it is unknown if a new PPA will be entered into.
Production guidance for the annual average Additional Gas (as defined below) sales is now forecast to be 65 – 68 MMcfd (100% conventional natural gas). This range incorporates the exclusion of all volumes previously forecast to be supplied to Songas for November and December, and certain volumes lifted but disputed by a major industrial customer as a consequence of the position taken by the Tanzania Petroleum Development Corporation (“TPDC“) and Government of Tanzania in relation to the cessation of Protected Gas (as detailed and defined below). The Songo Songo gas field continues to operate as normal.
Following cessation of Protected Gas on July 31, 2024, despite the absence of a contract to do so, Songas continued to lift volumes of gas in August and September, at an average rate of 17.8 MMcfd. On September 23, 2024, the Company was notified by Songas that it acknowledges it had lifted this volume, but due to TPDC’s refusal to approve a Gas Sales Agreement for this Additional Gas, they would elect to pay only 19.5% of such volumes. This accords with the payment arrangements for Complex Additional Gas under the contracted payment terms for Protected Gas which ended on July 31, 2024. Payment was made on this basis by Songas on October 10, 2024, in the amount equivalent to USD $410,000, representing 19.5% of the total invoiced amount of USD $2.1 million.
Only Additional Gas attracted a Processing and Transportation (“P&T“) tariff up to July 31, 2024, (when Protected Gas was active), while Protected Gas did not. In contradiction of their position regarding payment above, Songas has invoiced PAET for the P&T tariff consistent with all gas volumes shipped to Songas during August as being AG. This amount has been fully accounted for and paid by PAET in accordance with the terms of the current agreements.
Operations
During Q3-2024, the Company successfully completed a production and saturation logging program in three wells. Initial results indicate that the wells and field are performing in line with expectations, with final interpretation of results continuing in order to update longer term reservoir management plans.
The workover program on SS-7 has completed a complex mobilization to Songo Songo Island, and the operational well intervention phase has commenced. Operations, including further logging, are expected to last for approximately three weeks. The objective of the work is to restore the mechanical integrity of the well to shutoff water production in order to restart production from the southern compartment of the gas field. On conclusion of the intervention, SS-7 is forecast to return to production in November 2024. The total expected project cost has increased to $22.0 million from $16.6 million primarily as a result of vendor logistical delays and more recently weather delays during both the mobilization from the Mombasa to Songo Songo Island and positioning the barges and jackup platform on the offshore SS-7 well.
Commercial
In August 2024, the Company issued a notice of dispute (“Notice of Dispute”), in respect of an investment treaty claim against the Government of Tanzania for breach of the Agreement on Promotion and Reciprocal Protection of Investment between the Government of the Republic of Mauritius and the Government of Tanzania, and a contractual dispute against the Government of Tanzania and TPDC, for breaches of the: (i) PSA, and (ii) GA (as defined herein). Initial meetings with both the Advisory and Coordinating Committees were held during the week of October 14, 2024, without any resolution on the key issues in dispute. The matters have now been referred to relevant entity’s chief executive officers in accordance with the dispute resolution process. These meetings have been proposed for November or December. Further updates on this matter will be made as appropriate.
PAET has continued to supply gas to Tanzania Portland Cement PLC (“TPCPLC”) during August 2024 and September 2024. As a consequence of the position taken by TPDC, PAET was unable to invoice TPCPLC for volumes anticipated to have been supplied under the Supplementary Gas Agreement (“SGA“). The SGA had been agreed to by TPCPLC and was due to commence on August 1, 2024, but TPDC refused to approve the agreement. Therefore, PAET has invoiced all volumes lifted as Additional Gas under the Gas Sales Agreement which was established in 2008. It is not known if TPCPLC will pay all or any element of these invoices. As of the date of hereof, the August invoice for $2.64 million was outstanding, with the September invoice of $2.75 million being due on November 5, 2024. The Company will provide further updates in due course on this matter.
Financial
The Company exited September 30, 2024, with cash and cash equivalents of $101.7 million (June 30, 2024: $97.2 million) and no change to long-term debt of $25.1 million (June 30, 2024: $25.1 million). Cash held in hard currencies (USD, Euro, GBP, CDN) was $93.2 million at September 30, 2024 (June 30, 2024: $86.1 million).
Following the extension to the Portfolio Gas Supply Agreement (“PGSA”) with the Tanzania Electricity Supply Company Limited (“TANESCO”) between PAET, TPDC and TANESCO, TANESCO has taken delivery of approximately 26.7 MMcfd in September 2024. As of September 30, 2024, the receivable from TANESCO was $8.1 million, and the TANESCO long-term receivable was $22.0 million.
Orca Energy Group Inc.
Orca Energy Group Inc. is an international public company engaged in natural gas development and supply in Tanzania through its subsidiary, PAET. Orca trades on the TSX Venture Exchange under the trading symbols ORC.B and ORC.A.
The principal asset of Orca is its indirect interest in the PSA with TPDC and the Government of Tanzania in the United Republic of Tanzania. This PSA covers the production and marketing of certain conventional natural gas from the Songo Songo license offshore Tanzania. The PSA defines the gas produced from the Field as “Protected Gas” and “Additional Gas”. The Protected Gas is owned by TPDC and prior to July 31, 2024 was sold under the Gas Agreement (“GA”) between the Government of Tanzania, TPDC, Songas and PEAT, to Songas and TPCPLC. Protected Gas production ceased on July 31, 2024, and accordingly all gas is to be sold as Additional Gas. PAET continues to act in the best interests of its Tanzanian stakeholders and make natural gas available to Songas for power, so that the country can continue to benefit from a reliable power supply. The Company has consistently demonstrated its commitment to supporting the Tanzanian economy, following 20 years of continued investment in the country. However, as detailed in recent announcements, and as set out in the GA, the supply of Protected Gas ceased on July 31, 2024, with all gas now being produced from the Songo Songo gas field, being designated as Additional Gas. PAET’s position is that it is entitled to compensation at commercial rates for any such gas supplied as Additional Gas and for which it has not received payment as a result of the position taken by TPDC. This is subject to ongoing dispute with TPDC, with TPDC asserting that Protected Gas continued after July 31, 2024.
Songas is the owner of the infrastructure that enables the gas to be processed and delivered to Dar es Salaam, which includes a gas processing plant on Songo Songo Island.
Celicourt (PR) Jimmy Lea Mark Antelme Orca@celicourt.uk +44 (0)20 7770 6424
Forward-Looking Information
This press release contains forward-looking statements or information (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact included in this press release, which address activities, events or developments that Orca expects or anticipates to occur in the future, are forward-looking statements.
Forward-looking statements often contain terms such as may, will, should, anticipate, expect, continue, estimate, believe, project, forecast, plan, intend, target, outlook, focus, could and similar words suggesting future outcomes or statements regarding an outlook.
More particularly, this press release contains, without limitation, forward-looking statements pertaining to the following: the Company’s expectation that PAET will receive payment in respect of Protected Gas supplied after July 31, 2024; expectations that SS-7 will return to production in November 2024; expectations around entering into a new PPA; expectations in respect of the Songas Power plant; expectations that an indefinite shutdown of the Songas Power plant will adversely impact demand for production volumes from the Songo Songo gas filed; expectation that forecasted Additional Gas will decrease; expectations in respect to the results of the production and saturation logging program; expectations that the PPA will be replaced; the concern that if the Protected Gas is not resolved, the Company will be required to reduce costs and ensure capital expenditure projects on the Songo Songo gas field are in line with contracts and economic returns; expectations that the SGA will be entered into and the terms abided by; the expectations regarding future revenues of the Company; expectations as to the resolution of the Notice of Dispute; the Company’s plans to provide updates on the Notice of Dispute and TPCPLC invoice; and expectations that Songas will pay the balance of the invoice in respect to Additional Gas. Although management believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, future actions, future payments, levels of activity, access to resources, results of negotiation, results from arbitration, amount of damages or costs incurred by the Company relating to negotiations and/or arbitration, since such expectations are inherently subject to significant business, economic, operational, competitive, political and social uncertainties and contingencies.
These forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company’s control, and many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking statements made by the Company, including, but not limited to: uncertainties involving the Notice of Dispute; uncertainties involving the SGA; uncertainties involving the completion of the SS-7 workplan; various uncertainties involved in the extension of the Songo Songo license; risk that timing is not as anticipated with respect to SS-7, including timing of return to production; risk that meetings related to the Notice of Dispute are not held on the anticipated timing; risk the PPA will not be replaced; risk of decreased demand for production volumes from the Songo Songo gas field; risk that Orca does not receive payment of TPCPLC invoices; risk Orca has to make the P&T tariff payments to Songas; risk the Songas Power plant will shutdown indefinitely; risk that Songas receivables increases; negative effect on the Company’s rights under the PSA and other agreements relating to its business in Tanzania; changes in laws and regulations; impact of local content regulations and variances in the interpretation and enforcement of such regulations; uncertainty regarding results through negotiations and/or exercise of legally available remedies; failure to successfully negotiate agreements; risks of non-payment by recipients of natural gas supplied by the Company; changes in national and local government legislation, taxation, controls, or regulations and/or changes in the administration of laws, policies, and practices, expropriation or nationalization of property and political or economic developments in Tanzania; lack of certainty with respect to foreign legal systems, corruption, and other factors that are inconsistent with the rule of law; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; timing of receipt of, or failure to comply with, necessary permits and approvals; and potential damage to the Company’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company’s dealings with the Government of Tanzania, TPDC and TANESCO, whether true or not. Therefore, the Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by these forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive.
Such forward-looking statements are based on certain assumptions made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes are appropriate in the circumstances, including, but not limited to: the Company’s relationship with TPDC and the Government of Tanzania; the current status of negotiations in respect of the SGA, GA and PSA; the current status of actions involved in the Notice of Dispute; accurate assessment by the Company of the merits of its rights and obligations in relation to TPDC and the Government of Tanzania and other stakeholders in the Songo Songo gas field; receipt of required regulatory approvals; the Company’s ability to maintain strong commercial relationships with the Government of Tanzania and other state and parastatal organizations and other stakeholders in the Songo Songo gas field; the current and future administration in Tanzania continues to honor the terms of the PSA and the Company’s other principal agreements; the Company’s relationship with TPCPLC; anticipated operations and timing with respect to SS-7; Orca’s operations continue as anticipated, including in respect of production results; and other matters.
The forward-looking statements contained in this press release are made as of the date of this news release and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
The United States, through USAID, announced it provided an additional $26.7 million to the Global Financing Facility (GFF) in a continued push to support health workers and advance primary health care. The announcement will be highlighted on the sidelines of next week’s GFF 19th Investors’ Group meeting and Trust Fund Committee meeting in Abuja, Nigeria. This funding will strengthen country and global efforts to increase access to resilient, responsive, and sustainable primary health care and health workforces.
With these newly-announced funds, USAID has provided more than $30 million to the GFF since 2023, securing a seat on the GFF Trust Fund Committee. This position enables USAID to contribute to the GFF’s strategic priorities and participate in the oversight and approval of grants. To date, the GFF has committed more than $1.4 billion from its Multi-Donor Trust Fund, linked to over $11 billion in World Bank financing.
The GFF is a multi-stakeholder global partnership that currently supports 36 low- and middle-income countries in Africa, Asia, and Latin America with the highest maternal, newborn, and child mortality burdens and significant gaps in financing. By working closely with partner country governments and the World Bank, the GFF incentivizes national investment in primary health system capacity to improve the health of women, children, and adolescents. To date, every one dollar of GFF grant financing has brought in an additional seven dollars in the World Bank Group funds for country health investments. A key component of the GFF is also providing technical assistance and financing to develop national strategies to improve the health of women, children, and adolescents.
This partnership between USAID and the GFF will enhance governments’ capacity to leverage support across partners, align investments around national priorities, and strengthen primary health care. Countries with health systems anchored in a strong health workforce are proven to deliver better results, expand service coverage, and lower maternal and child mortality from a variety of causes. By partnering with the GFF, USAID is working with country partners to strengthen health systems to effectively reduce inequities in life expectancy and build resilience against health threats.
What you need to know: Governor Newsom and Attorney General Rob Bonta have reached a settlement with La Habra Heights to bring the city into compliance with state housing law.
SACRAMENTO — Governor Gavin Newsom and Attorney General Rob Bonta today announced the state has entered into a stipulated judgment with the City of La Habra Heights, putting the city on an expedited timeline to submit a compliant housing element to the Department of Housing and Community Development. The new housing plan must create 244 housing units, including at least 164 that are affordable to low or very-low-income households.
“No more excuses — every community has a responsibility to create housing and to help reduce homelessness. I am pleased that La Habra Heights has come to the table and agreed to meet their housing goals for a community that desperately needs more affordable homes.”
Governor Gavin Newsom
“The City of La Habra Heights has done the right thing. Instead of continuing to skirt California’s housing laws, it will finally be complying with its legal obligation to plan for 244 housing units,” said Attorney General Rob Bonta. “My office will not let up: no matter the size of the city or county, we will not rest until every local government in California plans for the future and does its part to tackle our housing crisis.”
The City of La Habra Heights is designated as a high opportunity jurisdiction by the California Tax Credit Allocation Committee and California Department of Housing and Community Development (HCD) Opportunity Area 2024 map, indicating access to good schools, less pollution, and jobs—all factors that impact long-term success for families with children. However, the city currently has only single-family homes, with no multifamily housing and zero affordable units.
The deadline for the City of La Habra Heights to adopt a compliant housing element was October 2021.
After repeated attempts to assist the city to come into compliance, HCD’s Housing Accountability Unit — launched by Governor Newsom in 2021 — issued a Notice of Violation on March 19, 2024. HCD then worked with the Attorney General’s Office to reach today’s agreement with La Habra Heights.
Despite the agreement, until La Habra Heights fulfills its obligations under the agreement, the city remains subject to the “Builder’s Remedy” and cannot refuse to permit certain affordable housing projects. The city also remains ineligible to receive key state housing and homelessness funds.
HCD, through the Attorney General’s Office, has now entered into five agreements over housing element compliance. The previous four were San Bernardino, Coronado, Malibu, and Fullerton.
“This latest agreement is a key example of why it is so important that every city, big and small, is held accountable for doing its fair share to address the statewide housing need,” said HCD Director Gustavo Velasquez. “When La Habra Heights adopts a compliant housing element, it will — for the first time ever — make land available for multifamily and affordable housing, creating a path to opportunity for more families in this high-resource community.”
All state and local public agencies must take deliberate action to Affirmatively Further Fair Housing — combating disparities resulting from past patterns of segregation. Increasing supply of multifamily housing expands access to fair housing for lower-income and historically disadvantaged groups, in turn fostering more inclusive communities.
More housing. More accountability.
Since taking office, Governor Newsom has invested $40 billion in housing production. The state has also invested over $27 billion to help communities address homelessness.
Governor Newsom championed the creation of the Housing Accountability Unit at HCD to ensure cities and counties fulfill their legal responsibilities to plan and permit their fair share of housing. This focus on accountability has, in part, led to a 15-year high in housing starts in California. Since its establishment, the Housing Accountability Unit has supported the development of 7,513 housing units, including 2,765 affordable units, through enforcement actions and by working with local jurisdictions to ensure compliance with housing law.
Addressing the homelessness crisis
Today’s action also follows the Governor’s recent executive order urging local governments to quickly address encampments and provide individuals experiencing homelessness with the care, compassion, and support they need. Earlier this month, the Governor announced $130.7 million in new funding for local communities to help people experiencing homelessness in dangerous encampments, paired with robust accountability measures.
California recently announced 37 new grant awards totaling more than $827 million to help more than 100 local communities and organizations create long-term solutions to address homelessness, with strong accountability and transparency measures and clear expectations to ensure that local strategies to address homelessness are measurable and effective.
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Headline: Members spotlight development issues in trade and environmental sustainability discussions
“Here we are at the end of 2024 and MC14 isn’t that far away. We’re committed to having concrete outcomes and so as part of achieving that, this session will be important,” said Richard Tarasofsky of Canada, which co-convenes TESSD together with Costa Rica, in opening the meeting. He added that a high-level TESSD plenary stocktaking session will be held on 4 December to seek members’ support for the proposed way forward towards achieving concrete outcomes at MC14 that reflect both the technical discussions in working groups as well as the written outcomes of those groups.
“We are really making an effort to dig deeper into the development dimension, including in how we select topics such as climate adaptation,” said Mr. Tarasofsky.
The four TESSD working groups advanced substantive work in their respective discussions at the meeting.
In the Working Group on Trade-related Climate Measures (TrCMs), members deliberated on the use of TrCMs for achieving climate change adaptation and focused on developing country perspectives. They heard presentations from the International Institute for Sustainable Development, the WTO Secretariat, the World Bank, Barbados and Samoa.
In the Working Group on Environmental Goods and Services, members exchanged views on trade-related aspects of water management and climate change adaptation, considering presentations on water management technologies and developing country experiences from the UN Environment Programme (UNEP) Copenhagen Climate Centre and the UN Climate Technology Centre & Network (CTCN). Members also considered presentations on identification and trade promotion of environmental goods and services from Australia, Finland and the WTO Secretariat.
In the Working Group on Subsidies, members considered presentations on critical minerals, including how international cooperation can support developing countries in addressing challenges and seizing opportunities in the sector. The International Energy Agency, the African Development Bank, Australia and the Philippines provided presentations.
In the Working Group on Circular Economy-Circularity, members heard from the Global Batteries Alliance on batteries passports and on circularity of batteries. They also heard from Rwanda on implementing circular economy principles in the transport sector. Members also were briefed on new analytical work from the International Chamber of Commerce, Organisation for Economic Co-operation and Development, and the Forum on Trade, Environment and SDGs (TESS).
Across the four working groups, members also discussed possible ways forward for outcomes at MC14, including a compilation and mapping of policy measures shared by members, practical ways to enhance cooperation, and expanding and refining the TESSD indicative list of environmental goods and services. They also considered developing guidelines for subsidy design and recommendations to enhance transparency, trade-related guidelines for a circular economy and trade‑related good practices for circularity in priority sectors.
Presentations and documents related to the working group meetings are available here.
At the close of the two-day meeting, Ana Lizano of Costa Rica, TESSD co-convenor, said: “We have heard support as well as constructive feedback from the participants to the suggestions on the way forward presented by the facilitators of the four groups. So the co-conveners, together with the facilitators, will put together the most balanced outlook possible for 2025 and towards the next Ministerial Conference.”
“We will continue working on bringing to the table more voices from the developing and least-developed members to consolidate an agenda that is not only balanced but also representative of the needs, opportunities, and interests of all TESSD participants,” she said.
Guided by their 2021 Ministerial Statement, TESSD seeks to complement the work of the WTO Committee on Trade and Environment and advance discussions at the intersection of trade and environmental sustainability towards identifying concrete actions that members could take individually or collectively. The initiative, which is open to all WTO members, is currently co-sponsored by 77 members representing all regions and all levels of development.
Headline: Transparency and subsidy notification compliance spotlighted at committee meeting
The Chair noted that despite calls for members to notify their subsidies, compliance with the subsidy notification obligation under the WTO’s SCM Agreement remains concerningly low, affecting the Agreement’s proper functioning.
He highlighted that 84 members have not made their 2023 notifications, which were due by 30 June 2023, while 82 members have yet to make their 2021 notifications, which were due more than three years ago. He also noted that 71 members still have not submitted their 2019 notifications, now overdue by more than five years. Many of these members have either never notified or have done so only in the distant past, he said.
The Chair emphasized that all members benefit from the collective effort of timely and complete notifications. “Ultimately, all members, in addition to being required to notify, have an interest in the notified information of other members,” he stated. He called on non-compliant members to fulfil their obligations, noting that transparency is fundamental to the SCM Agreement’s proper functioning.
Highlighting efforts to improve compliance, the Chair drew attention to the WTO Secretariat’s technical assistance project on subsidy notifications. The first round of the project, completed in 2023, invited 43 members to take part, with 23 agreeing to participate. Of these, 11 members subsequently submitted their 2023 subsidy notifications in a timely fashion, accounting for 13% of all notifications received for that cycle. The Chair praised these tangible outcomes as evidence of the effectiveness of well-structured, customized assistance projects. He also informed members that a 2024-2025 round of the same technical assistance project will be launched towards the end of this year. He encouraged active engagement of the participating members.
Several delegations took the floor to echo the Chair’s concerns, stressing the importance of timely and complete subsidy notifications for the SCM Agreement’s effective functioning. They also expressed appreciation for the Secretariat’s ongoing support and technical assistance efforts.
Training session on subsidy notifications
In response to a suggestion to organize a training session on the obligation to make subsidy notifications, the Chair acknowledged the potential benefits of such an initiative. He noted that holding a training session would be particularly useful given that a new notification cycle will begin in 2025. Recognizing the timeliness of such a session, he proposed that the Secretariat arrange this training early next year. The Secretariat will communicate the exact date and venue of the session in due course.
Review of members’ subsidy notifications
The Committee reviewed the 2023 new and full subsidy notifications submitted by Australia, Cabo Verde, Cambodia, the European Union (pertaining to Croatia, Luxembourg, and Slovenia), Democratic Republic of the Congo, Dominican Republic, El Salvador, Honduras, Iceland, Nepal, and Uruguay.
The Committee also continued its review of 2023 subsidy notifications from Brazil, Canada, China, Eswatini, the European Union, Japan, Kenya, the Republic of Korea, Malaysia, Mauritius, Montenegro, Norway, Türkiye, the United Kingdom, the United States, and Vanuatu. It also continued its review of a 2019 notification from the Russian Federation.
National legislation
The Committee reviewed new notifications of countervailing duty legislation submitted by Brazil, Cabo Verde, Solomon Islands, and the United States. It also continued its review of the legislative notifications of Saint Kitts and Nevis, the European Union, and Ghana.
Semi-annual reports of members on countervailing duty actions
The Committee considered the semi-annual reports of countervailing duty actions submitted by Australia, Brazil, Canada, the European Union, India, Mexico, the United Kingdom, and the United States.
In addition to the semi-annual reports, the SCM Agreement requires members to submit without delay notifications of all preliminary and final countervailing duty actions taken. Reports received from Australia, Brazil, Canada, the European Union, India, Mexico, Chinese Taipei, the United Kingdom, and the United States were reviewed by the Committee.
Other matters
The Chair recalled the 31 December 2015 deadline for the elimination of export subsidies by members that received “fast track” extensions under Article 27.4 of the SCM Agreement. He noted that only 15 of the 19 members that had received extensions have provided the final required notifications. He called on the remaining members to comply without delay.
The Committee discussed a separate item China placed on the agenda regarding discriminatory subsidies policies and measures of the United States.
The Committee discussed a separate item the Republic of Korea placed on the agenda regarding France’s electric vehicle subsidies programme.
The Committee also discussed a separate item Australia, Canada, the European Union, Japan, the United Kingdom, and the United States placed on the agenda regarding subsidies and capacity.
In addition, the Committee discussed a separate item the United States placed on the agenda regarding Kazakhstan’s proposed preferences for domestically produced agricultural machinery.
The Committee discussed a separate item the United States placed on the agenda regarding the WTO Secretariat’s activities on subsidies. The United States highlighted certain Secretariat-initiated activities relating to subsidies, calling for greater transparency and consultation between the Secretariat and the membership. Australia, the European Union, India, and the United Kingdom commented on the issues raised by the US, including by expressing support for the call for greater transparency.
The Secretariat informed the Committee that it has been working on a transparency portal that will allow members to access information about Secretariat-initiated activities and explained that it expected this portal would be rolled-out towards the end of November.
Under other business, the United States provided an update on proposed guidelines for submission of questions and answers under Articles 25.8 and 25.9 of the SCM Agreement, previously submitted by Australia, Canada, the European Union, Japan, the United Kingdom, and the United States, and discussed at the Committee’s regular meeting in April 2024.
The Committee also adopted its 2024 annual report to the CTG.
Next meeting
The spring and autumn 2025 meetings of the SCM Committee are scheduled to take place in the weeks of 28 April and 27 October 2025, respectively.
More information about the SCM Agreement and the WTO’s work on subsidies and countervailing measures can be found here.
More than 1,100 UN peacekeepers are currently deployed in the Golan, a demilitarised zone along the Israel-Syria border at what is a tense and dangerous time in the history of the region. But, why are the Blue Helmets there?
One of the UN’s longest-standing peacekeeping missions – the UN Disengagement Observer Force, known by its acronym UNDOF – began more than a half century ago when the 1973 Middle East crisis erupted.
The Agreement on Disengagement between Israeli and Syrian forces was concluded which provided for an area of separation and for two equal zones of limited forces and armaments on both sides of the area. UNDOF was established to supervise its implementation.
Here’s what you need to know:
Forging peace to end a crisis
On the heels of the Israeli-Egyptian war in 1973, the situation in the Israel-Syria sector became increasingly unstable in March 1974 as clashes intensified.
UNDOF was established in late May 1974 and by 3 June, the Secretary-General had appointed an interim commander of UNDOF who arrived in Damascus, Syria’s capital, that very day.
The mission operates with the same mandate today.
UNDOF
A peacekeeper greets the students of the Faouar School in Syria. (file)
What does UNDOF do?
UNDOF’s mandate remains largely unchanged since 1974:
Maintaining the ceasefire between Israel and Syria
Supervising the disengagement of Israeli and Syrian forces
Supervising the areas of separation and limitation, as provided in the May 1974 Agreement on Disengagement.
Every six months, the Security Council reviews and has extended the force’s mandate, which is due to expire on 30 June 2025.
UNDOF has two base camps. Its headquarters at Camp Faouar handles logistics and the force operates patrols by day and night, intervening whenever any military personnel enters or try to operate in the area of separation.
The force also addresses mine and explosive remnant of war clearance and has instituted a security and maintenance programme in the area of separation to identify and mark all minefields.
UNDOF is one of three UN peacekeeping missions in the region, charged with monitoring ceasefires and peace agreements. The other two are the UN Truce Supervision Organization (UNTSO), established in 1948, and the UN Interim Forces in Lebanon (UNIFIL), which has been operational since 1978.
UN Photo/Yutaka Nagata
Members of the UNDOF Austrian Battalion Ski Patrol on Mount Hermon in 1975. (file)
What’s the area of separation?
The area of separation is a demilitarised zone and measures approximately 80 km long, varying in width from 10 km in the centre to less than one km in the extreme south, with hilly terrain dominated in the north by Mount Hermon.
The highest permanently staffed UN position, it sits at an altitude of 2,814 metres, where it often snows and peacekeepers conduct patrols thanks to specialised winter season equipment.
The area is inhabited and has historically been policed by the Syrian authorities. No military forces other than UNDOF are permitted to operate inside of this area.
There is also an area of limitation on both sides, where limits are placed on the number and types of military forces and equipment allowed by the parties.
UNDOF monitors these restrictions through fortnightly inspections of the military positions of the Israel Defense Forces (IDF) and the Syrian security forces carried out by the Observer Group Golan, comprised of military observers from UNTSO.
UNDOF officers patrol the Golan Heights in 1974. (file)
Main challenges in the current Middle East crisis
Over the years, UNDOF has recorded ceasefire violations and worked with Israeli and Syrian authorities to resolve them.
As tensions rose last year during the war in Gaza, a missile killed 12 people in the Golan and recent heightened tensions in the area of separation emerged with Israel Defense Forces (IDF) moving into the area as Syria’s new de facto authorities seized power in early December.
UNDOF peacekeepers, supported by UNTSO observers, remain at their pre-December 2024 positions and continue key tasks such as monitoring and patrolling the ceasefire line, according to UNDOF interim head Major General Patrick Gauchat, who briefed the Security Council in mid-January.
Residents of the Golan have also expressed concerns to UNDOF, calling for the IDF to leave their villages amid reports of searches and arrests of their relatives. The IDF’s presence and roadblocks have also severely impacted UNDOF’s operational capacity, reducing its daily vehicle convoys and compromising its freedom of movement.
UN Photo/Gernot Maier
An UNDOF observation post in the Golan Heights, Syria. (file)
Adapting to new realities
In the face of these current operational challenges, the mission has adapted its approach.
Right now, it has increased weekly patrols from 10 to 40 and addressed such urgent safety concerns as the neutralisation of unexploded ordnance in public areas.
Meanwhile, efforts are underway to establish stable communication channels with the de facto authorities, acting mission chief Mr. Gauchat explained.
But, concerns remain.
“It is imperative that the UN peacekeepers are allowed to carry out their mandated tasks without obstruction,” Mr. Gauchat told the 15-member Security Council on 17 January, urging all parties to maintain the ceasefire and respect the terms of the 1974 agreement. “We count on the continued support of Member States to return to full mandate implementation.”
Can UNDOF use force?
Yes. UNDOF peacekeepers are authorised to use force in self-defence or to defend UN personnel, facilities and equipment.
UNDOF operates under Chapter VI of the UN Charter, which emphasises monitoring, observation and facilitating the implementation of peace agreements.
DAVID PENBERTHY, HOST: Well, it’s a very opportune breaking at eight this morning, because on the same day that major reforms and savings are being announced to the NDIS, we have the Minister for the NDIS, not just here in Adelaide, but here in our studio in Adelaide. Bill Shorten is with us here at FiveAA HQ this morning. Minister, good morning and thanks so much for coming in.
BILL SHORTEN, MINISTER FOR THE NDIS AND GOVERNMENT SERVICES: Good morning gentlemen. Thanks for having me here.
PENBERTHY: Now look, we’ve had, we’ve done a lot of work lately. Mr. Shorten, on the NDIS. And we’ve had a few local cases that have been in the headlines. There was another one too, that I spoke to your office about myself earlier this week, which very, very kindly has been resolved. But in a in a broader sense, we’ll start with the big sort of headline figures. This thing has grown like mad and was on target to become, I think, the biggest budgetary item, bigger than the age pension. What are the reforms that you’ve put in place? How much are you going to save, and is it possible to do that without reducing the level of service that people have come to rely on?
SHORTEN: Yes, it is possible to improve the scheme without undermining its fundamental values. When I became Minister nearly three years ago, the reality is there was over half a million people on the scheme, changing a lot of lives for the better, hundreds of thousands of lives for the better, a lot of very good service providers. But there has been insufficient attention to the administration of the scheme and that has changed. So, one issue was that the scheme was almost becoming the only lifeboat in the ocean. So as soon as you have a disability, everyone says, oh, that’s an NDIS matter. Well, the fact of the matter is, the NDIS is only designed for personal budgets for the most profoundly disabled, not for everyone.
But the states have been good. Peter Malinauskas, Mally, he’s a rock star. He’s been helping lead the States and working with Nat Cook here to make sure we start developing with Amanda Rishworth, working services up outside the scheme. So that’s one reform, not everyone needs to flock to the NDIS. And within the scheme itself, there was no back-office payments checking. Like, I don’t want to make people, you know, just sort of drive off the road as they’re listening here. But it was possible for people to draw down 20 and $30,000 out of their packages with no invoices.
We see some service providers, you know, you have a shower chair and then you have an NDIS shower chair. And guess what? They’re identical. But when it’s called an NDIS shower chair, it’s four times as much. We’ve now made that illegal. 92% of service providers are currently unregistered. Like, imagine having a system where you can drive on Adelaide roads. You can have the driver’s license system or the not the driver’s license system. So, we’re overhauling how we register. We’re overhauling how we assess people, making it consistent. We also, we’ve put a sort of in and out list what you can spend your resources on. And whilst that’s led to tears at bedtime by some of the dodgy providers with crystal therapy and other therapies which are just not evidence based, the truth of the matter is it’s now providing clarity.
All of this means that we can get the growth of the scheme to about 8% when, the year before I became the Minister, it was 23%, but next year we’re on track to have growth at only 12%, so we’re still investing.
PENBERTHY: So, about a billion bucks, you’re looking at saving?
SHORTEN: Well, we’ve saved a billion. We’ve spent $1 billion less than we thought we would in May. So, for the financial year 2023/24, we thought it would be 42.5 billion. And it’s actually come in under $42 billion, which means that we’re just running the scheme better. That doesn’t mean that we’re not providing services. There’ll be more people on the scheme next year than this year. There’ll be more money invested in people next year than this year. But what we are saying is, if you’re getting a service, is it a quality service? Is it, are you not being price gouged? You know, yesterday in the Downing Street court in Sydney, we, through long investigations, three dodgy gentlemen or two dodgy gentlemen and a lady, are going to jail for ripping off $5.8 million. We’ve set up a criminal task force. We’ve got 21 Commonwealth agencies. You know, to channel my inner Clint Eastwood, I say to dodgy providers, do you feel lucky? Because we will catch you.
PENBERTHY: Have there been any successful prosecutions under those laws?
SHORTEN: Yes. We’ve got 56 people are in court or on the desk of the relevant public prosecutor, Director of Public Prosecutions, 500 investigations. We’ve released some information this morning. Under my predecessors, yes, the Liberals, they had a safeguards commission which is meant to handle complaints. But that’s where complaints used to go to die. It was not transparent. This year we’ve just after – we’ve tripled the number of people working in the complaints Commission from 367 to 1052. We’ve given them money. When I put in an acting administrator into the Complaints Commission to liven it up. He was a former policeman. I said, tell me what you found, Mike. And Mike said, oh, you’ve got state of the art investigation systems for 1988. So, we’ve upgraded the ICT. Now the complaints have gone up 78%, my usual, you know, Ratbag critics say, oh, that proves that everyone’s unhappy because you’re the Minister. No, it just means for the first time, we’re following up the complaints. They’ve always been there.
PENBERTHY: Minister we’ve got some callers with questions for you. Geraldine’s on the line Geraldine good morning to you.
CALLER: Hi Bill. I’m getting a ramp put in and there’s a quote on it, it’s $17,000.
SHORTEN: Oh, that’s rubbish.
CALLER: Yeah. Now I believe that they’re ripping the system off. And this this man, he’s. That’s all he does. Him and his two sons. And they employed, more or less employed by my provider. And I just hope the government can do something to get a cheaper ramp for me, because I haven’t been outside my home for 11 months. If there was a fire here, I’d burn to death because I can’t go up and down the steps and I’ve got to wait another till June or July next year to save up enough money to pay for the ramp.
SHORTEN: Well, I don’t know if you’re on the NDIS or another government payment scheme?
CALLER: My Aged Care.
SHORTEN: Okay, well, what we’ll do is if we can get your details offline, I don’t know if a ramp should cost $17,000, but my gut says that must be a beautiful ramp.
PENBERTHY: Yeah. The on ramp to the New South Road extension cost that much.
SHORTEN: Yeah, it sounds like a piece of art. Um, so what we have seen, and Geraldine, thanks for calling, is just because it’s the government money and a government package doesn’t give some contractors the God given right to rip taxpayers and people off. So, we’ve now in the NDIS, I’ve now got through the Competition Commission laws which say you cannot be charged more for an identical service or product than if you weren’t on the scheme. So, what we can do is you can, what it means is if they were selling you an NDIS ramp, we’re now allowed to look at the books of the company and see what they charge other people for ramps, and if it’s if it’s less that they charge another punter than someone on the NDIS, that’s against the law now.
PENBERTHY: So, it should be. Minister, there’s another local story we’ve been following closely. Listener by the name of Alex Castoroides, who has called in. I just note who explained to us his situation. A severely disabled daughter who requires two on one care all day, had been in school and receiving terrific care, and they’d had a good experience on the NDIS. That ended, and he’s had some trouble continuing it, so much so they’ve had to sell their business. He’s told us his family home has been at risk. He’s on the line now. Alex, good morning to you. You’re speaking with the NDIS Minister, Bill Shorten.
CALLER: Good morning. Good morning.
SHORTEN: Good morning, Alex.
CALLER: Minister. Yeah. Just quickly touch on my daughter’s case. Um, she finished school last year, and we spent the whole year preparing her to come out into the public and be part of the, you know, the wide world out there. And we put in a change of circumstance with NDIS and – because obviously we had to fill that gap between 9 and 3 where she needed care, where she used to be at school. Instead of giving us the extra care, we actually got our, our funds slashed. And the person that made the decision said that Georgia only needed one on one care. She has got a two on one restraining order set up through [inaudible]. She has all the reports from her psychologist and OT that she does need two on one care at all times. And when this decision was made, it just destroyed our lives. Where, like Will said, I had to sell my business to look after my, I had to close my business, actually, to look after my daughter to help her. And, you know, we did the review. The gentleman used old information, that worked for NDIS, and quoted things when George was at school not being in public. And we did a review of the review. The lady totally bunged that up. She asked for the new information. We provided it to her again. She didn’t use the new information. She thought we didn’t give it to her. We gave her the reference number of the call we did with NDIS to say this is where we’ve uploaded all the information and here’s the email. And, you know, her response was, oh, I saw the email from my colleague, but I thought it was an American date, so I didn’t open it.
So that was her reasoning. And she used the old information for my daughter’s schooling days, to say her, she sticks with her judgment. It’s only one on one care and we were not going to give you any extra funding. So, we followed the process, and we applied for the tribunal. With the help of Senator Nat Cook, the federal health Minister, they’ve all helped me and sent emails to your office. We haven’t had much response, and much help. And I’ve been in the Advertiser. I’ve been on 5AA trying to get this hurried up because my daughter’s health was spiralling out of control and mental health, that is. To the point where four weeks ago, um, she was out of control. We had to call the ambulance. The poor girl that was looking after her on her own just couldn’t control her anymore. The ambulance took her to the QEH, and she was put in an induced coma due to her state, for three weeks. And she’s just come out of the induced coma. They did all the testing on her. Her health is perfectly fine, and they’ve put it down to her situation of losing her carers and all of that situation that the NDIS put us through with the bunged-up decisions that they made.
You know, we’re on the we’ve got no savings no more. No one’s, no one’s helping us in a hurry. And now that the, the next excuse is, oh, you’ve signed up with the tribunal so we can’t help you. And that’s from your office. So, you know, what do you want us to do? That’s what I want to know. Like the NDIS is there for specifically for my daughter. And I praise you for what you’re doing now. It’s amazing. And I can’t believe it wasn’t done earlier, what you’re what you’re doing now. But my daughter is sitting here on the couch having to learn how to walk again, how to talk again. And we’re in a mess.
And this system, from April to now, we’re still fighting and sitting by my daughter’s bedside watching her, the tube down her throat, not knowing if she’s going to live anymore. You know, I still have to take calls, and I still have to try and fight the NDIS and the tribunal system to try and get, you know, put back what my daughter needs. And I’m one of many. And, you know, you just said before, the system is there for people like my daughter. But I’m sorry, but it’s failed dismally. The workers that, the worker that did that last review of the review, you know, I know nothing’s going to happen to her. But if she could come now to my house and see my daughter the way she is because of her silly decision, of not bothering to read any of the new reports we gave, not bothering to read any of the incident reports that we gave…
PENBERTHY: Minister, can anything be done in Alex’s case to at least get this process moving along a little bit more quickly so he can get some clarity?
SHORTEN: Yeah. First of all, Alex, it can’t be easy having to share that story. And you’re a good dad, and I know you’re doing your absolute level best. And I’m sorry that you’ve had a bad experience with the Agency, so no ifs or buts. I’m sorry. What I understand about your case is that the package was north of $300K, for a year? I understand that on October the 30th, the matter, that plan has been kept at the same level for the next six months while you go through the appeals process?
CALLER: Yeah.
SHORTEN: The fact of the matter is, there is a legal system. And if something’s before the courts, I can’t just simply step in and act as judge. You know, there’s a separation of powers between the politician and the legal process. But I do understand that the plan you had last year has now been approved on the 30th of October for the next six months. At the same level I get. There’s also issues about – the school system at least had your daughter, but now post school and you leave school, it’s a bit of a black hole. And then, there’s no I don’t think there’s been enough work – this is not you, but this is the system – that when people finish school and they’ve got a profound disability, they’re sort of left to their own devices. So, we’ve set up some projects to try and work out how we can do better stuff for school leavers so that it’s not the, ‘left to your own devices’ that you’ve been in.
Just on the, the general point. So, on your matter, your plan has been rolled over for the next six months. Status quo payment. That was decided, I think, on the 30th of October. But just to other people who are listening, this is a problem. But God only knows what would happen if we didn’t have an NDIS at all. And no other country in the world has it, so that doesn’t help you. But going to the general issue, I don’t know what this country would do without the NDIS. And the problem we got is that in your matter, you feel that the evidence hasn’t been looked at properly, the people making the decisions haven’t taken into account matters. When I became the Minister, there were 4000 staff at the agency. Now, my predecessors capped the number of people at the agency at 4000. In 2017, there were 4000 people working on matters like yours, your daughter’s, everyone else, and there were 170,000 people on the scheme.
When I became the Minister, there’s over half a million people on the scheme and still 4000 people. So, we’ve now started to invest in planner capability because I want you to have a more consistent experience. But anyway, I know your matters in the courts, but I do know that rather than get nothing until the court matters resolved, your plan has been rolled over for the next six months so that there are funds there.
PENBERTHY: All right. Thank you. Thanks for sharing that story, Alex. It’s full on and thanks to you as the Minister too, Mr. Shorten to, you know, take what Alex is saying as seriously as you have because –
SHORTEN: Oh, yeah.
PENBERTHY: – it’s been a big story locally.
SHORTEN: Yeah, no, I get it. That’s tough.
PENBERTHY: Why can’t that cap change?
SHORTEN: Oh, we have changed it.
PENBERTHY: How on earth can 4000 people look after? Because – and the case I mentioned the other day that I won’t go into now, but it feels like half the battle is actually just getting responses from within the organisation, in the same way it is with My Aged Care?
SHORTEN: Yeah, to be fair to the Agency, they were underfunded, as was the complaints commission, but now we’ve put on an extra 2000 people, so it takes a while to get people up to speed. Of the leadership of the Agency, we have changed that. The new Chair of the Agency is Kurt Fearnley, who’s just an amazing Australian, charismatic, smart, capable, passionate, doesn’t take a backward step. The leadership of the Agency, of the top 11 people who were running it, there’s one left. We’ve sort of changed the guard there, and now we’re bringing in people and training them up.
We had a call centre which was contracted out, which meant that if you rang the call centre and they were getting nearly 2 million calls a year –
PENBERTHY: 2 million?
SHORTEN: Because of their contract, yeah, they couldn’t get, they couldn’t access the information. So, we’re now bringing some of that in-house, but we’re investing in the capability of the agency, more people and training them more so we hope we can get more consistent decision making.
PENBERTHY: It was a long chat in the end, but a good chat. We thank you. Thank you for coming in. Mr. Shorten, we’ll catch up with you again soon.
VICTORIA, Seychelles, Nov. 01, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has launched a campaign to celebrate Bitcoin’s 16th Whitepaper Day, with a scintillating theme “Who’s Still Reading Whitepapers?”. This initiative seeks to ignite conversations within the crypto community about the current role of whitepapers in blockchain projects and investment decisions. The event is campaigned around the release of Satoshi Nakamoto’s foundational document and offers an opportunity to reconsider how whitepapers are perceived and whether they remain as influential as they once were in guiding investment strategies and project evaluations.
Survey data gathered by Bitget provides insights into the crypto community’s current views on whitepapers. Of the 5,923 participants surveyed, an overwhelming 92.28% stated that they always read a project’s whitepaper before trading its token, indicating that technical documentation remains crucial for most users. Furthermore, 99.43% of respondents still consider whitepapers necessary, emphasizing their ongoing relevance in establishing a project’s credibility and outlining its foundational principles.
However, the survey also revealed that key opinion leaders (KOLs) play a dominant role in influencing trading decisions. Among participants who do not always read whitepapers, 86.51% rely on KOL recommendations, while only a small percentage turn to research institutions or personal networks. This highlights a growing trend where influencer-driven insights are beginning to compete with whitepaper-based evaluations, reflecting broader shifts in how information is consumed and trusted in the crypto space.
Over the years, whitepapers have been regarded as crucial documents for understanding the technical and strategic intentions of blockchain projects. However, with fast-paced developments in the crypto space, there is growing debate over whether these documents are still a vital tool for investors or if alternative methods of evaluation are taking precedence. Bitget’s research, supported by surveys and consultations with industry insiders, reveals a range of opinions. Some participants continue to view whitepapers as essential for understanding a project’s foundation and long-term goals. Others argue that the rise of new evaluation metrics, such as market trends, project performance, and development teams, has reduced the reliance on whitepapers, with real-world applications and use cases taking center stage.
Insights gathered from these discussions indicate a shift in how the crypto community approaches project evaluation. By creating a platform for this discourse, Bitget encourages users and professionals alike to rethink the tools and resources used in assessing blockchain projects today. With Bitcoin Whitepaper Day as the theme, this campaign shows the ongoing changes in the industry, inviting the community to look ahead and consider new approaches to evaluating the industry’s most promising innovations.
To learn more about Bitcoin Whitepaper Day, check our tweet here.
About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.
Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.
Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice.
Press conference by Arif Husain, Chief Economist, World Food Programme, and Rein Paulsen, Director of the Food and Agriculture Organization (FAO) Office of Emergencies and Resilience. They briefed reporters virtually on the Hunger Hotspots report.
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Acute food insecurity is set to increase in both magnitude and severity across 22 countries and territories, according to a new United Nations report. The report warns that the spread of conflict, particularly in the Middle East – coupled with climate and economic stressors – is pushing millions of people to the brink. The report spotlights the regional fallout from the crisis in Gaza which has seen Lebanon engulfed in conflict and warns that the La Niña weather pattern could impact climates through March 2025, threatening fragile food systems in already vulnerable regions.
Food and Agriculture Organization’s (FAO) Director of Emergencies Rein Paulsen and World Food Programme’s (WFP) Chief Economist Arif Husain briefed reporters today (31 Oct) in New York, via video link.
The report draws attention to famine in the Zamzam camp in North Darfur and famine risk in other areas of Sudan, the enduring risk of famine in Palestine (Gaza Strip) and the catastrophic levels of acute food insecurity in, Haiti, Mali and South Sudan – warning that without immediate humanitarian action and concerted efforts to overcome severe access constraints and resolve ongoing conflicts, further starvation and death are likely.
The report – ‘Hunger Hotspots – FAO-WFP early warnings on acute food insecurity’ – issued today by the Food and Agriculture Organization of the United Nations (FAO) and the United Nations World Food Programme (WFP) calls for urgent humanitarian action to save lives and livelihoods and prevent starvation and death in hotspots where acute hunger is at high risk of worsening between November 2024 and May 2025.
In total, 22 countries/territories are classified as “hunger hotspots”, where high levels of acute food insecurity are expected to further deteriorate due to the combination of conflict, economic instability, and climate shocks during the outlook period. Without immediate intervention, including increased funding for food and livelihoods assistance, hundreds of thousands more people are expected to face starvation in the coming months.
“The situation in the five hunger hotspots of highest concern is catastrophic. People are experiencing an extreme lack of food and face unprecedented enduring starvation fuelled by escalating conflicts, climate crises and economic shocks. If we are to save lives and prevent acute hunger and malnutrition, we urgently need a humanitarian ceasefire, and to restore access to and availability of highly nutritious food, including reactivating local food production. But this alone is not enough; we need longer-term.
stability and food security. Peace is a pre-requisite for food security. Without peace and stability, farmers cannot grow food, harvest or sustain their livelihoods. Access to nutritious food is not just a basic need – it is a fundamental human right,” said QU Dongyu, FAO Director-General.
“Worldwide, conflicts are escalating, economic instability is rising, and climate disasters are becoming the new norm. With more effective political and financial support, humanitarians can and will continue to implement proven and scalable solutions to address hunger and reduce needs over the long term,” said Cindy McCain, WFP Executive Director.
“It’s time for world leaders to step up and work with us to reach the millions of people at risk of starvation – delivering diplomatic solutions to conflicts, using their influence to enable humanitarians to work safely, and mobilizing the resources and partnerships needed to halt global hunger in its tracks,” Director McCain added.
The effects of the La Niña weather pattern, anticipated to impact global climates from November 2024 through March 2025, are expected to further exacerbate some of the food crises. While some areas may benefit from improved agricultural conditions, La Niña is likely to cause devastating floods in countries such as Nigeria and South Sudan, while potentially contributing to dry conditions in Somalia, Kenya, and Ethiopian. These extreme weather events threaten already fragile food systems, putting millions at risk of hunger.
The report stresses that early, targeted action is essential to prevent the further deterioration of the crisis and avert mass hunger-related mortality. FAO and WFP are urging world leaders to prioritize conflict resolution, economic support, and climate adaptation measures to protect the most vulnerable populations from the brink of famine.
Vatican City (Agenzia Fides) – Pope Francis has accepted the resignation from the pastoral governance of the Diocese of Laghouat (Algeria) presented by His Exc. Msgr. John Gordon MacWilliam, M. Afr. At the same time the Holy Father has appointed the Reverend Fr. Diego Ramón Sarrió Cucarella, M.Afr., former dean of the Pontifical Institute of Arabian and Islamic Studies (PISAI) in Rome, as bishop of Laghouat, Algeria.Msgr. Diego Ramón Sarrió Cucarella was born on 20 July 1971 in Valencia, Spain. He studied philosophy at the Faculty of Theology of Madrid, and theology at Tangaza University, Nairobi, Kenya.He was ordained a priest on 2 June 2001.After ordination, he held the role of animator at the Cultural and Saharian Documentation Centre in Ghardaïa, diocese of Laghouat (2001-2003). He was awarded a licentiate at PISAI (2004-2006) and went on to serve as director of the diocesan library of Tunisi (2006-2009). He obtained a doctorate in Islamic studied from Georgetown University in Washington D.C. (2009-2013), and went on to serve as director (2014-2017) and president (2017-2024) of PISAI.He teaches Islamic subjects at the Pontifical Lateran University of Rome, and is a consultor of the Dicastery for Interreligious Dialogue. (Agenzia Fides, 25/1/2025)
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Vatican City (Agenzia Fides) – The Holy Father has accepted the resignation from the pastoral care of the diocese of Nouna, Burkina Faso, presented by Bishop Joseph Sama.The Holy Father has appointed the Reverend Guy Mukasa Sanon, of the clergy of Bobo-Dioulasso, until now rector of the Saint Pierre-Saint Paul Seminary of Kossoghin, Ouagadougou, in Burkina Faso, as bishop of the diocese of Nouna, Burkina Faso.Msgr. Guy Mukasa Sanon was born on 14 September 1968 in Toussiana. After studying philosophy at the Saint Jean Baptiste de Wayalghin Major Seminary, Ouagadougou, he attended the theology cycle at the Saint Pierre Claver de Koumi Major Seminary in Bobo-Dioulasso.He was ordained a priest on 14 July 1996 and incardinated in the archdiocese of Bobo-Dioulasso.After ordination, he held the roles of parish vicar of Saint Vincent de Koko in Bobo-Dioulasso (1996-1998); and formator and director of studies in the Minor Seminary of Nasso, Bobo-Dioulasso (2001-2005). He was awarded a doctorate in philosophy at the Université catholique de Louvain in Belgium (2005-2010), and went on to serve as parish vicar (2010-2011) and parish priest (2011-2016) of the Cathedral of Bobo-Dioulasso, visiting professor at the Saint Pierre-Saint Paul Major Seminary of Kossoghin a Ouagadougou (2011-2016); and permanent formator and professor of philosophy at the Saint Pierre-Saint Paul Major Seminary of Kossoghin a Ouagadougou (2016-2019). Since 2019 he has been rector of the same seminary. (Agenzia Fides, 25/1/2025)
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The UN is temporarily relocating non-essential staff from Goma in the Democratic Republic of the Congo on Saturday without interrupting its operations in the country at a time heightened security concerns.
The UN mission in DR Congo, MONUSCO, is relocating administrative staff and others in North Kivu that can continue performing their duties from elsewhere in response to the deteriorating security situation and intensifying hostilities involving the non-State armed group M23, a Rwandan-backed movement fighting against the Congolese Government.
“This precautionary measure safeguards staff safety while ensuring the UN’s vital operations in the region remain uninterrupted,” MONUSCO said in a statement.
“This transfer does not affect the UN’s unwavering commitment to providing humanitarian aid and protecting civilians in North Kivu.”
Situation worsening
The area has seen a repeated resurgence of non-State armed groups in the past. Clashes between the M23 and Congolese Government troops intensified earlier this month.
According to news agencies, combatants from M23 killed the military governor of North Kivu on Thursday as the general was inspecting the border.
Some 400,000 people have been displaced in North and South Kivu since the beginning of this year alone, according to the UN refugee agency, UNHCR.
On Friday, the UN agency’s chief of office in Goma, Abdoulaye Barry, told UN News in an exclusive interview that the situation is becoming increasingly unsafe for both civilians and aid teams.
A camp for displaced people in North Kivu in DR Congo.
Essential staff remain on the ground
Essential UN personnel are remaining on the ground, sustaining critical operations such as food distribution, medical assistance, shelter and protection for vulnerable communities.
At the same time, the UN is working closely with humanitarian partners and national authorities to ensure lifesaving assistance reaches those most in need and prevent any threat against civilians.
The temporary relocation of staff will be reassessed based on the evolution of the security situation, with the aim of fully restoring the presence as soon as conditions allow.
“The United Nations reaffirms its deep commitment to the people of North Kivu,” the UN mission said.
UN Secretary General António Guterres has called for an immediate end to the fighting, noting that the conflict has taken a devastating toll on the Congolese and the entire region.
At this sombre occasion, I want to acknowledge that more than a year has passed since the appalling 7th October terror attacks by Hamas. We welcome, at long last, the ceasefire and hostage release deal. The deal offers hope, as well as much needed relief. The United Nations will do our utmost to ensure it leads to the release of all hostages and a permanent ceasefire in Gaza.
Dear Friends,
This year marks eighty years since the end of the Holocaust.
The history of the Holocaust is one of total moral collapse, dehumanisation, complicity, and unimaginable atrocities. But amidst all the horror, there are also stories of humanity, and of courage.
I think of those victims who resisted Nazi brutality and supported one another with kindness and solidarity. I think of those survivors who have told their stories to the world, including Rabbi Schneier and others present today. We owe you — and the children of survivors who made sure those stories lived on – a profound debt of gratitude. And I think of those noble people of conscience who may not have been targeted by the Nazis but were so horrified by what they saw that they felt compelled to act.
That includes a number of diplomats who used their power to save lives. They were from a variety of countries, including many represented here today.
One important example from my own country, Portugal, is Aristides de Sousa Mendes. Stationed in Bordeaux, as the Nazis approached in 1940, Sr. Sousa Mendes faced crowds desperate for visas out of France.
The orders of the Portuguese Government were clear. The infamous “Circular 14” had been issued, denying visas for refugees’ safe passage to Portugal – with Jews named specifically. Sr. Sousa Mendes decided to disobey, and worked quite literally day and night to issue thousands of visas, saving countless lives.
The government punished Sr. Sousa Mendes for his defiance. He died in poverty, after being expelled from the diplomatic corps without pension. But his extraordinary efforts have not been forgotten. In 1966, he was recognised as one of the Righteous Among the Nations, and, last year, I was pleased to support the opening of a museum in his honour in Portugal.
In these days of global turmoil, rising antisemitism, and growing hate towards many communities, it is vital that we remember the stories of people like Sr. Sousa Mendes, who used their power for good in the worst of times. They remind us that it is our duty – individually and collectively – to stand with humanity and against bigotry and discrimination.
In that spirit, I am pleased to report that the United Nations has launched an Action Plan to Enhance Monitoring and Response to Antisemitism. We have long worked to combat this evil, through a wide range of activities, including our Holocaust Outreach program. This new Plan builds on that work, and the insights of people like Rabbi Schneier, to recommend ways the United Nations system will further enhance efforts to combat antisemitism.
This goes to the heart of the mission of the United Nations, which was established in the aftermath of the Holocaust. We will never waiver in the fight for a world that promotes and protects the human rights of all.
Source: Africa Press Organisation – English (2) – Report:
PARIS, France, January 25, 2025/APO Group/ —
NBA Africa (www.NBA.com) and University Mohammed VI Polytechnic (UM6P), through its subsidiary EVOSPORT, today announced a new collaboration to support youth basketball in Morocco. The collaboration marks the league’s most expansive youth basketball development programming ever in Morocco and makes UM6P an official partner of NBA Africa.
UM6P is a Moroccan university that focuses on developing solutions to specific continental and, more broadly, global challenges. The university is engaged in economic and human development and puts innovation at the forefront of African growth. In alignment with this vision, UM6P has launched EVOSPORT, its subsidiary dedicated to sports development, with the ambition of contributing to the creation of a dynamic and sustainable Moroccan and African sports ecosystem.
The collaboration between NBA Africa and UM6P will be implemented by EVOSPORT, in collaboration with Act4Community, which is a part of OCP Group’s ecosystem. Together, they will launch four Jr. NBA leagues that will reach nearly 2,000 boys and girls ages 18 and under annually in Khouribga, Gantour, Laayoune and El Jadida, as well as Morocco’s first NBA Basketball Schools in all four locations. More than 200 local coaches will also participate in Jr. NBA Coaches Workshops in each city.
The announcement was made today at a signing ceremony at UM6P France in Paris, the university’s branch in Europe, by UM6P President Hicham El Habti, NBA Deputy Commissioner and Chief Operating Officer Mark Tatum, NBA Africa CEO Clare Akamanzi and Basketball Africa League (BAL) President Amadou Gallo Fall.
“We have seen firsthand through our previous initiatives in Morocco that there is incredible passion for basketball across the country,” said Akamanzi. “Together with UM6P and ahead of the first BAL games in Morrocco in April, we look forward to significantly expanding our youth basketball development efforts in the country and providing opportunities for thousands of Moroccan youth to learn and play the game.”
“We are thrilled to work with NBA Africa to bring this transformative youth basketball program to Morocco,” said El Habti. “At UM6P, we believe in the power of sports to inspire and develop young minds. This collaboration aligns perfectly with our mission to foster innovation and contribute to the socio-economic development of Africa. Through EVOSPORT, we are committed to creating opportunities for young athletes to thrive and achieve their full potential.”
UM6P, as a key component of OCP Group’s ecosystem, has significantly contributed to the group’s long-standing commitment to sports development in Morocco. The collaboration with NBA Africa supports the youth targeted by the Act4Community program and reflects OCP Group’s corporate social responsibility aiming for sustainable and tangible improvements in living standards through job creation, entrepreneurship, culture and sports.
The announcement builds on NBA Africa’s and the OCP Group’s previous collaboration that has featured previous Jr. NBA leagues in the cities of Benguerir and Khouribga. NBA Africa has reached more than 100,000 Moroccan youth and coaches through youth basketball development programming to date.
Source: United Kingdom – Executive Government & Departments
Foreign Secretary announces £20 million in additional funding while visiting the Adré on the Chad-Sudan border.
Foreign Secretary to drive new international commitment to a political process towards ending this conflict
On first UK Foreign Secretary visit ever, David Lammy sees impact of UK aid supporting nearly 800,000 on Chad-Sudan border town of Adré
UK addresses upstream drivers of migration as the FCDO continues its drive to secure borders
Refugees fleeing war-torn Sudan will receive further UK support to increase food production and lifesaving sexual and reproductive health services, as Foreign Secretary announces £20 million in additional funding while visiting the Adré on the Chad-Sudan border.
This builds on the doubling of UK aid in November to address the humanitarian emergency in Sudan to £226.5 million. These UK funds are providing emergency food assistance to nearly 800,000 displaced people, of whom over 88% are women and children, as well as improving access to shelter, drinking water, emergency health care and education.
Not only is this aid vitally needed on humanitarian grounds, but it will also help people to stay within their immediate region meaning that they are better able to return when conditions allow. Since the conflict began, 3.6 million refugees have fled to neighbouring countries, with a significant number travelling on to Europe and the UK.
Unscrupulous smuggling gangs are looking to profit from the misery in Sudan. And the longer this war lasts, the greater its ripple effect. We must give credit to countries like Egypt, Chad, and South Sudan for managing this crisis alongside others nearby.
Nearly 2,000 Sudanese nationals arrived on small boats in the year ending September 2024. As part of the Plan for Change, the Government is determined to reduce the number of people making dangerous small boat crossings across the Channel and net migration.
Foreign Secretary David Lammy said:
Sudanese people are facing violence on an unimaginable scale. This is the biggest humanitarian crisis in the world.
Millions have already fled their homes – in the face of a struggle for power that has led to abhorrent atrocities against civilians and famine on an unconscionable scale.
The international community must wake up and act urgently to avoid this horrific death toll escalating further in the coming months, driving instability and irregular migration into Europe and the UK. Under this government’s Plan for Change, we are addressing upstream drivers of migration to secure UK borders.
The UK will not let Sudan be forgotten. To do so would be unforgiveable.
Working with partners, the Foreign Secretary is determined to re-energise a political process on this issue. He plans to convene a meeting of Foreign Ministers to galvanise international efforts to work towards an end to the conflict and get aid to where it is needed the most.
This builds on the UK and Sierra Leone’s resolution at the UN in November, which gained the support of every UN Security Council member except Russia. He will build consensus on how the international community can support region-led mediation efforts that have Sudanese voices at the centre.
The UK is calling for greater access so aid can get to where it is needed most and will continue to push for every border crossing and route to be open, accessible, and safe.
I’m standing in a basement kitchen prodding at a sheep’s liver, looking for marks on its smooth surface. People crowd around to film the proceedings, since I’m here to ask a question that everyone wants to know the answer to: will Donald Trump win the US election?
I’m following instructions that were first written down by the ancient Babylonians 4,000 years ago, and still survive today. Every crease on the liver has a meaning, and cuneiform tablets discovered in modern-day Iraq explain how to interpret them.
Armed with this knowledge, it’s possible to calculate the answer to any question, so long as it is yes or no, by adding up the number of positive or negative signs and seeing which comes out on top.
Since this liver had an overwhelming number of bad omens in it, I concluded that it declared no for Trump this time. Though in 2016 this method predicted a win well before he had won the Republican nomination, and in 2020 foretold that he would not be reelected that year.
Will Trump win the US election?
What started as an entertaining talk for a university open day has since become a serious part of my research – not because I sincerely believe in it, but because it gives us some of the earliest evidence in history for how human beings reason and think.
Looking at livers also makes a serious underlying point about how humans have coped with uncertainty throughout history, and still struggle to today. People have developed techniques as varied as astrology, tarot cards and even peering into entrails in response to the agony of not knowing, or the strain of trying to make a difficult decision.
Given the level of feeling invested in this election, it’s a unique moment where perhaps we can appreciate that, in this respect, we are not so different from those who lived thousands of years ago, even if our methods of looking into the future are different.
Asking the entrails
Developed in its classic form in Babylon, entrail divination was practised throughout ancient Mesopotamia, the written history of which spans from the 3rd millennium BC to the 1st century AD.
It was enormously important in all sections of society – a standard part of political decision-making at the royal court, but accessible to all. Budget options were even available for those who could not afford a sheep.
People addressed their questions directly to the gods and believed that at the moment of asking, the answer would be written on the entrails. This could then be “read” by a diviner trained in this esoteric language.
Sitting in the British Museum is an archive of real questions that were asked by the king of Assyria (a kingdom in northern Mesopotamia) in the 7th century BC. All kinds of affairs of state were put before the gods. Are the Egyptians going to attack? Has the enemy taken the town under siege? And will the governors return home safely?
Reading the archive, you get a real sense of nerves on a knife-edge as the king waited for news from far away, wanting to know what had happened to his troops and trying to decide what to do next.
Not only did he ask them about what would happen in the future, but he also consulted them on possible courses of action. Should the Assyrian army go to war? Should the king send a messenger to make peace? Asking the opinion of the gods would have helped him feel more confident in his next steps.
The Babylonians did not have elections. But that did not mean the king could do whatever he wanted. It was important for his public image to have the gods onside, as well as for his own reassurance.
Whenever a powerful official was appointed, the entrails would be read to ensure the gods approved. The head of the army, high priests and other important positions were all subject to this requirement. On one occasion, even the choice of crown prince – and hence the future king of Assyria – was put to this test.
Interpreting the entrails was held to almost scientific standards of exactitude. Diviners worked in pairs or groups of up to 11, checking each other’s work to make sure they got it right. This was not a vague or woolly process, but a real attempt to ensure “accuracy” that could not be manipulated to simply come up with the answer that the king wanted to hear.
Modern forecasting
We all want to know what the future has in store, and have come up with ingenious ways of trying to find out, from opinion polls and data modelling to Paul the octopus, who developed a reputation for picking the winners of football matches during the 2010 World Cup. But are our methods really any better than looking inside a sheep?
As all investors are warned, past performance does not guarantee future results. Yet the only data we have to inform our predictions comes from the past, and most of our models can’t take into account “unknown unknowns”.
As many experts have found, predicting the future is a difficult business: opinion polls can lie and people change their minds, while economists have often been blindsided by a sudden crash.
Since liver divination only answers “yes” or “no”, it is going to be right 50% of the time just through the law of averages. Despite its randomness, its success rate may well have seemed convincing at the time.
And when we trust the authority of the source, it’s easy to find a way to explain away a wrong result – the prediction got halfway there, answered a different question, or would have been right if x hadn’t happened.
We shouldn’t be blind to the weaknesses of our own methods. We are often wrong, and the Babylonians could sometimes be right.
Selena Wisnom does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.
IMF staff and the Somali authorities have reached a staff level agreement on the second review under the Extended Credit Facility (ECF). Program performance has been strong, demonstrating the authorities’ steadfast commitment to macroeconomic stability and strengthening institutional capacity and frameworks.
Real GDP growth has been upgraded to 4 percent for 2024 and 2025 based on strong exports and remittances. However, risks remain elevated, including from regional and domestic security developments, commodity prices and climate shocks.
Sustained reform efforts are needed to set the conditions for greater resilience, poverty reduction, and inclusive growth. This includes strengthening tax capacity and public financial management, promoting financial deepening, and improving governance.
Washington, DC: A staff team from the International Monetary Fund (IMF), led by Ms. Laura Jaramillo, conducted discussions with the Somali authorities in Istanbul and in Washington DC on the 2024 Article IV consultation and reached a staff-level agreement on the second review of the Extended Credit Facility (ECF) arrangement that was approved by the IMF’s Executive Board in December 2023 (Press Release No. 23/463). This agreement is subject to approval of the IMF’s Executive Board.
At the conclusion of the discussions, Ms. Jaramillo issued the following statement:
“Somalia’s real GDP growth outlook has improved, though challenges and risks remain significant. Positive trends in agriculture, exports, and remittances in 2024 are expected to continue in 2025. As a result, real GDP growth has been upgraded to 4 percent in 2024 and 2025, up by an average ¼ percentage point compared to previous forecasts. Inflation is expected to continue on a downward trend to 4.5 percent by end 2024, although the pace is slower than anticipated earlier. Despite security challenges, the Somali government remains steadfast in its fight against terrorism and continues to work with international partners to ensure a successful transition from the current African Union Transition Mission to a new force by January 2025. Near-term risks to the outlook include climate shocks, domestic and regional security developments, lower global growth, and higher commodity prices.
“The authorities continue to focus on raising domestic revenue, aiming to fully cover operational expenditure with domestic revenues by 2027, while also accommodating higher education and health spending. Fiscal outturns in 2024 have been in line with expectations, and an overall deficit of 0.2 percent of GDP is expected for the year. The 2025 draft budget envisages domestic revenues of 3.3 percent of GDP and an overall fiscal deficit of 0.2 percent of GDP, assuming continued access to grant financing, which remains critical for Somalia.
“The authorities recognize the importance of making steady progress on fiscal reforms. Key revenue measures—guided by the recently published Medium-term Revenue Roadmap—include the ongoing customs modernization, a new income tax law, and stronger enforcement of sales and income taxes. Public financial management continues to be strengthened, with important progress made on payroll integrity. Reforms to improve the debt management framework and capacity are also progressing well. Measures are also being taken to finalize the extractive industries legal framework, including to enhance transparency and accountability.
“The Central Bank of Somalia (CBS) is advancing institutional governance and financial sector reforms. Focus is on promoting financial deepening, including by enhancing the legislative and oversight frameworks, improving the quality of regulatory data, and augmenting CBS technical capacity. Efforts continue to strengthen the framework for anti-money laundering and the combating the financing of terrorism to comply with international standards.
“The authorities intend to reintroduce the Somalia Shilling (SOS) and adopt a currency board arrangement. The new SOS notes will provide an important liquidity function by facilitating payments for small value transactions and will promote financial inclusion for the most vulnerable. To provide a stable and predictable policy environment to ensure confidence in SOS across Somalia, the authorities are also starting preparations for introducing a currency board arrangement, with IMF capacity development support. Implementation of these reforms would take an estimated 18-24 months after prerequisites are in place, including necessary external financing.
“The authorities are also committed to advancing steps to bolster inclusive growth and poverty reduction, improve resilience to climate shocks, and enhance trade integration. Raising human capital by increasing the educational attainment of Somali children and closing gender gaps in education can bring significant growth dividends. Building resilience against climate shocks and strengthening food security is also a priority. Given Somalia’s very limited resources, financing and technical assistance support from international partners remains crucial. The East African Community presents important opportunities, challenges, and risks for Somalia and the integration process needs to be managed carefully.
“The mission would like to express gratitude to Somali authorities for constructive and fruitful discussions. Meetings were held with the Minister of Finance, Minister of Petroleum, the CBS Governor, other government officials, development partners, and representatives from the private sector.”
End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.
IMF staff and the Somali authorities have reached a staff level agreement on the second review under the Extended Credit Facility (ECF). Program performance has been strong, demonstrating the authorities’ steadfast commitment to macroeconomic stability and strengthening institutional capacity and frameworks.
Real GDP growth has been upgraded to 4 percent for 2024 and 2025 based on strong exports and remittances. However, risks remain elevated, including from regional and domestic security developments, commodity prices and climate shocks.
Sustained reform efforts are needed to set the conditions for greater resilience, poverty reduction, and inclusive growth. This includes strengthening tax capacity and public financial management, promoting financial deepening, and improving governance.
Washington, DC: A staff team from the International Monetary Fund (IMF), led by Ms. Laura Jaramillo, conducted discussions with the Somali authorities in Istanbul and in Washington DC on the 2024 Article IV consultation and reached a staff-level agreement on the second review of the Extended Credit Facility (ECF) arrangement that was approved by the IMF’s Executive Board in December 2023 (Press Release No. 23/463). This agreement is subject to approval of the IMF’s Executive Board.
At the conclusion of the discussions, Ms. Jaramillo issued the following statement:
“Somalia’s real GDP growth outlook has improved, though challenges and risks remain significant. Positive trends in agriculture, exports, and remittances in 2024 are expected to continue in 2025. As a result, real GDP growth has been upgraded to 4 percent in 2024 and 2025, up by an average ¼ percentage point compared to previous forecasts. Inflation is expected to continue on a downward trend to 4.5 percent by end 2024, although the pace is slower than anticipated earlier. Despite security challenges, the Somali government remains steadfast in its fight against terrorism and continues to work with international partners to ensure a successful transition from the current African Union Transition Mission to a new force by January 2025. Near-term risks to the outlook include climate shocks, domestic and regional security developments, lower global growth, and higher commodity prices.
“The authorities continue to focus on raising domestic revenue, aiming to fully cover operational expenditure with domestic revenues by 2027, while also accommodating higher education and health spending. Fiscal outturns in 2024 have been in line with expectations, and an overall deficit of 0.2 percent of GDP is expected for the year. The 2025 draft budget envisages domestic revenues of 3.3 percent of GDP and an overall fiscal deficit of 0.2 percent of GDP, assuming continued access to grant financing, which remains critical for Somalia.
“The authorities recognize the importance of making steady progress on fiscal reforms. Key revenue measures—guided by the recently published Medium-term Revenue Roadmap—include the ongoing customs modernization, a new income tax law, and stronger enforcement of sales and income taxes. Public financial management continues to be strengthened, with important progress made on payroll integrity. Reforms to improve the debt management framework and capacity are also progressing well. Measures are also being taken to finalize the extractive industries legal framework, including to enhance transparency and accountability.
“The Central Bank of Somalia (CBS) is advancing institutional governance and financial sector reforms. Focus is on promoting financial deepening, including by enhancing the legislative and oversight frameworks, improving the quality of regulatory data, and augmenting CBS technical capacity. Efforts continue to strengthen the framework for anti-money laundering and the combating the financing of terrorism to comply with international standards.
“The authorities intend to reintroduce the Somalia Shilling (SOS) and adopt a currency board arrangement. The new SOS notes will provide an important liquidity function by facilitating payments for small value transactions and will promote financial inclusion for the most vulnerable. To provide a stable and predictable policy environment to ensure confidence in SOS across Somalia, the authorities are also starting preparations for introducing a currency board arrangement, with IMF capacity development support. Implementation of these reforms would take an estimated 18-24 months after prerequisites are in place, including necessary external financing.
“The authorities are also committed to advancing steps to bolster inclusive growth and poverty reduction, improve resilience to climate shocks, and enhance trade integration. Raising human capital by increasing the educational attainment of Somali children and closing gender gaps in education can bring significant growth dividends. Building resilience against climate shocks and strengthening food security is also a priority. Given Somalia’s very limited resources, financing and technical assistance support from international partners remains crucial. The East African Community presents important opportunities, challenges, and risks for Somalia and the integration process needs to be managed carefully.
“The mission would like to express gratitude to Somali authorities for constructive and fruitful discussions. Meetings were held with the Minister of Finance, Minister of Petroleum, the CBS Governor, other government officials, development partners, and representatives from the private sector.”
Washington, DC – A man wanted in Rhode Island on charges of murder, inflicting serious bodily injury to a child and unlawful flight to avoid prosecution has been added to the U.S. Marshals Service 15 Most Wanted fugitives list with an up to $25,000 reward being offered for information leading to his arrest.
Olalekan Abimbola Olawusi, 48, was charged in Providence with first-degree murder and two counts of inflicting serious bodily injury to a child after Providence Police and Fire personnel found his 3-month-old son bleeding from the mouth and nose at a residence April 3, 2017.
The child was transported to the hospital in cardiac arrest and needed to be resuscitated to regain a pulse. An examination at the hospital noted 18 injuries at various stages of healing, indicating a pattern of long-term abuse. These injuries included a skull fracture, subdural hematoma, significant brain injury, and fractures of the child’s ribs, clavicle, legs and arms. He was placed on life support but died six months later.
Providence police arrested and charged Olawusi April 20, 2017, with first-degree child abuse. He was released the same day and subsequently fled. The murder charge was added following the infant’s death Oct. 31, 2017.
In November 2017, the Providence Police Department and the Rhode Island Attorney General’s Office requested the assistance of the U.S. Marshals Service (USMS) to locate Olawusi. Subsequent investigation revealed that Olawusi had flown out of John F. Kennedy International Airport in New York on June 20, 2017, using his Nigerian passport. Investigators believe Olawusi may be receiving assistance from family members in Nigeria and that he could be a danger to other children.
“Mr. Olawusi is wanted for the abuse and murder of an innocent child, and has fled the country to avoid justice,” said Director Ronald L. Davis of the U.S. Marshals Service. “We have placed Mr. Olawusi on our 15 Most Wanted list due to the heinous crimes he’s committed and the threat he continues to pose to the public. The USMS will exhaust all resources necessary to bring him to justice for his family and the community.”
Olawusi, who uses the alias Olekun Olawusi, stands 5 feet 8 inches tall and weighs approximately 185 pounds. He has black hair and brown eyes.
Information regarding his whereabouts may be reported to the U.S. Marshals at 1-877-WANTED2 (926-8332) or via the USMS Tips App.
Created in 1983, the USMS 15 Most Wanted (15MW) fugitive program draws attention to some of the country’s most dangerous and high-profile fugitives. These fugitives tend to be career criminals with histories of violence who pose a significant threat to public safety. Generally, 15MW fugitives are considered the “worst of the worst” and can include murderers, sex offenders, major drug kingpins, organized crime figures and individuals wanted for high-profile financial crimes. Since the program began in 1983, more than 250 15MW fugitive cases have been closed.
The USMS has a long history of providing assistance and expertise to other federal, state, and local law enforcement agencies in support of their fugitive investigations. Working with authorities at the federal, state, tribal, and local levels, USMS-led fugitive task forces arrested more than 73,000 fugitives and cleared nearly 86,000 warrants in FY 2023.
Source: Africa Press Organisation – English (2) – Report:
LOMÉ, Togo, October 31, 2024/APO Group/ —
The West Africa Energy Cooperation Summit (WA-ECS) is set to tackle project development bottlenecks across the ECOWAS region and drive sustainable energy development across West Africa from 3-5 December 2024, in Lomé, Togo. The response from the private sector, who are actively looking for energy projects, but often frustrated by the pace of development, tells us this meeting is long overdue.
Under the distinguished patronage of the President of the Togolese Republic, H.E. Honourable Faure Essozimna Gnassingbé, WA-ECS will address regional infrastructure and the energy projects critical to economic growth, driving forward West Africa’s critical mineral resource expansion programme in cooperation with power generation, and encouraging cross-border cooperation that will bolster regional energy development.
With success stories and blueprints from Senegal, Nigeria, Benin, Cote d’Ivoire and Togo itself, WA-ECS is urging greater collaboration between countries, sectors, private and public, to create new pathways and to reduce risk.
The theme for the summit is ‘Empowering West Africa’s Growth Through Strategic Energy Partnership’. In recent years, the pace of large-scale projects has stalled due to the disruptive pace of getting projects green-lit. It is, therefore, vital for all stakeholders to be more direct in their dialogue to reverse this tide and restart the region’s mineral-centric economies, and solar, wind, hydro, and gas IPPs sit firmly at the centre of this initiative.
“As the developers behind Togo’s first utility-scale renewable energy project, AMEA Power is excited to be part of this pivotal summit, and we anticipate fruitful discussions and solutions that will advance renewable energy in West Africa,” said Hussein Matar, Senior Director, AMEA Power, the lead sponsor of WA-ECS.
Positive signs are already visible with the ongoing development of the Lobito Corridor, the Nigeria-Morocco gas pipeline, solar projects in Mauritania, Togo, and Mali, and the regional Battery Energy Storage System (BESS) programme, which is set to become operational in 2025.
However, the 2030 renewable energy goals to enhance trade through the West African Power Pool (WAPP) are still a long way from being on track, underscoring the need for private sector involvement and deeper collaboration with governments and the mining sector. A series of multilateral and independent investor, utility, and ministerial boardroom discussions will follow the Presidential Day of the summit, pushing energy access up the political agenda at the highest levels.
Ministers from The Gambia and Benin will be attending and speaking, alongside a strong contingent from the private and financial sectors. Kekeli Efficient Power, Genesis Energy, World Bank, BII, Shell Energy, Proparco, and Masdar are just some of the many who will contribute their unique perspective.
H.E. Honourable Robert Koffi Messan Eklo, Togo’s Minister of Mines and Energy Resources, says, “As a pivotal energy hub in West Africa, our country is uniquely positioned to lead in advancing regional energy cooperation. The West Africa Energy Cooperation Summit will be a cornerstone event where we can collectively shape the future of energy infrastructure, fostering growth that transcends borders and benefits all.”
