BREAKING โ Turkeyโs Central Bank raises its benchmark interest rate by 5% to 50%, increasing markets confidence in the bankโs management and independence after inflation soaring last month
BREAKING NEWS: The Crescent of Ramadan 1445/2024 has been sighted in Saudi Arabia!
Subsequently, Ramadan 1445/2024 begins tomorrow, 11 March 2024
Taraweeh Prayers will begin in the Two Holy Mosques after Isha Prayers
#UPDATE: Highly reliable information is emerging from the Ministry of Finance, implicating senior officials appointed by President Hassan Sheikh, and the Auditor General. This information suggests rampant corruption within the administration.
1-There are significant discrepancies in the inland tax collections of the Ministry of Finance in the Banadir region. Typically collecting $12 million monthly, the ministry reported only $4 million in collections this month. The discrepancy isnโt due to uncollected funds; the money has reportedly been misappropriated by presidential loyalists. This issue has led to the dismissal of the finance minister. Additionally, twelve tax receipt books, designed for recording tax collections not deposited in government accounts, are missing.
2-The tax system and financial activities of the Somalia Financial Management Information System (SFMIS) have been entirely halted. This marks the second occasion where funds failed to reach the Ministry of Finance, instead ending up in an unauthorized central repository. SFMIS, a globally recognized monitoring system, has essentially been disabled.
3-Both the Auditor General and the Director of Revenue of the Ministry of Finance have overstepped their roles, taking over account monitoring duties from the newly appointed Director of Inland Taxes.
4-The Accountant General, who is a presidential loyalist, has intimidated senior officials within the Ministry of Finance due to his perceived power, leading to a climate of fear within the Ministry. Today, senior officials in the Ministry were lining up to meet him and win his support.
5-The Director of General Revenue has been given the authority to track financial inflow and outflow, but seems to be evading commitments agreed upon with international partners.
6-The Auditor General has allegedly been contacting Directors of the Ministries and the Heads of Administration and Accounts, demanding bribes under the threat of corruption charges. This new approach appears to be a form of systematic extortion
Usable foreing exchange reserves dropped by USD 14 million.
The value stood at USD 7,462 million representing 4.08 months of import cover as at July 6.
@MihrThakar@alykhansatchu@DollyOgutu
Kenya's maize yields have stagnated at the levels that the US farmers were getting in 1940. Its an uphill struggle all the way to the market. Its the knowledge and technology gap
Huge destruction in #Jenin camp. #UNRWA Deputy Commissioner-General @LeniStenseth and Director of the West Bank @BouloukosUN were there today with a number of our partners, including representatives from Member States. #PalestineRefugees
Constant GDP per Capita PPP in 2012 US dollar:
1964 - 2012
Kenya vs India vs China
Spot the slumber land?
NB:
1. Per Capita= GDP/popn = GDP per person - relative population sizes irrelevant
2. Kenya's GDP was rebased (recalculated) in 2014 - irrelevant to the comparison.