Al Shabab menacing Uganda & Burundi taking slowly all over East Africa

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Hijacked ship spotted off Somalia coast
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Published: Oct. 23, 2009 at 12:22 PM
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HOBYO, Somalia, Oct. 23 (UPI) — The European Union anti-piracy force says the hijacked Chinese bulk carrier De Xin Hai has arrived off the coast of Somalia.

EU NAVFOR said Thursday on its Web site a EU NAVFOR Maritime Patrol Aircraft confirmed the De Xin Hai was spotted near the Somalia harbor city of Hobyo.

“It is not yet known if the pirates have contacted the owners and made their demands known,” the anti-piracy force said.

China’s official state-run Xinhua news agency reported the Chinese vessel, which has 25 crew members, was hijacked in the Indian Ocean Monday.

The carrier belongs to Qingdao Ocean Shipping Co. and was shipping coal from South Africa to India when commandeered.

Xinhua said China is one of a dozen countries that sends naval ships to the Gulf of Aden region to protect maritime shippers from pirates.

World Bank Keeper of Woyane on power in Ethiopia

Woyane the source  the New Biblical  Famine  now he makes money with it…

All the Money which goes in the pocket of Woyane  used against the Ethiopians their survival…

World Bank Provides $480 Million to Combat Food Insecurity in Ethiopia

The World Bank is helping to fight poverty and improve the living standards for the people of Ethiopia. This country is one of the largest beneficiaries of the World Bank’s concessional lending program, the International Development Association (IDA),with a portfolio of 33 active projects worth around US$ 3.6 billion of which around US$ 2.1 billion is provided as credit and the remaining US$ 1.5 billion is provided as grant.
Active projects support initiatives across a number of areas including:

Pastoral Community Development Project II: a US$ 80 million with the objective of enabling pastoralists to better withstand external shocks and to improve the livelihoods of targeted communities. The project will empower local communities by increasing their engagement in woreda processes and local development decision making. It will also provide them increased access to social services; and better access to support for savings and credit activities. In addition, the project seeks to improve and expand the pastoral early warning system and the responsiveness of the disaster mitigation and contingency funds.
The project will be implemented in pastoral and agro-pastoral communities in 57 woredas of the Afar, Somali, SNNPs and Oromya Regions. About 600,000 rural households or approximately 45% of pastoral and agro-pastoral woredas in Ethiopia will benefit from the PCDPII project. Read more…
Urban Local Govt Development Project: US$ 150 million. The project is the next step in the World Bank’s program of support to Ethiopian cities. The objective of the project is to support improved performance in the planning, delivery and sustained provision of priority municipal services and infrastructure. Through the provision of Performance Grants, the project will provide incentives to cities to improve their performance in key areas related to planning, citizens’ participation in the planning process, financial management and service delivery, while at the same time enabling cities to invest in critical municipal infrastructure such as roads, drainage, sewerage, market places, etc. Read more…
Tana & Beles Integrated Water Resources Development: US$ 45 million project which aims to lay the foundation needed to accelerate sustainable growth in the sub basins by developing enabling institutions and facilitating investments for integrated planning, management, and development. The project will not only benefit Ethiopia but will also improve regional cooperation among Nile riparian countries. It also seeks to develop a new paradigm of institutional modernization and convergence in managing precious water resources, while also stimulating sustainable development. Read more…

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World Bank  350+130 million for Wyane

WASHINGTON, October 22, 2009 – The Board of Executive Directors of the World Bank today approved a $350 million grant and a $130 million credit from the International Development Association to the Government of Ethiopia to support an innovative program that is keeping millions of families out of extreme poverty and helping them to achieve food security.

This financing is for the third phase of the Government of Ethiopia’s Productive Safety Net Program (PSNP) which provides transfers to 7.6 million rural citizens in 292 woredas in Afar, Amhara, Dire Dawa, Harare, Oromiya, Somali, Southern Nations and Nationalities (SNNP) and Tigray Regions.

Families participating in the Safety Net Program are the poorest and most food insecure in their communities. They earn a monthly transfer by working on public works projects for six months each year. For those participants who are physically unable to work, the Program provides direct grants. Transfers are predictable and timely, thereby enabling families to plan ahead to meet their food needs and preventing the sale of productive assets.

The PSNP goes beyond providing safety nets; it aims to address the underlying causes of food insecurity. Planned within an integrated watershed management framework, the public works under PSNP are designed to reverse a long history of environmental degradation and increased vulnerability to adverse weather. Since 2008, the Program became more flexible, able to scale-up the coverage, level, and duration of support to households in response to shocks in PSNP areas.

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Recent reviews demonstrate that the Safety Net Program has registered some impressive results since its launch in 2005. Household food security has improved, especially when transfers are predictable and delivered on time. PSNP households reported a smaller food gap and consumed more calories (19.2%) in 2008 as compared with 2006.

Households participating in the PSNP have also invested in assets and have increased their use of education and health services. Growth in livestock holdings was 28.1% faster among PSNP households than non-participants. An estimated 73% of PSNP participants reported increased use of health facilities compared to the previous year, and the majority attributed this to the Safety Net Program.

There is strong evidence that the combination of the PSNP and investments in productive assets can improve agricultural productivity. Maize yields increased by 38% among households receiving both PSNP transfers and investments through the Government’s Food Security Program (FSP). Households that received FSP investments alone enjoyed only marginal increases in productivity.
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But more needs to be done. The third phase of the PSNP will strengthen implementation to maximize the impact of the Program and will institutionalize the risk financing component of the PSNP, which allows the Program to scale up in response to shocks.

The World Bank will also provide financing to support the Government’s Household Asset Building Program (HABP), which is designed to assist food insecure households in PSNP woredas to transform their productive systems by diversifying income sources, improving productivity and increasing productive assets. The support to the HABP aims to make the program more efficient and effective, thereby maximizing the combined impact of the HABP and PSNP so that together they can support sustained graduation from food insecurity for the poorest households.
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“Food aid to Ethiopia in the past was often too little, too late, which meant families were often forced to sell livestock, tools or other productive assets to meet their daily needs,” said William Wiseman, the projects’ task team leader. “These programs are different because they provide support that families can count on – and the infrastructure, credit, and training that they need for long-term food security.”

The Safety Net Program is supported by a consortium of donors, namely, the Governments of the United Kingdom, Canada, Ireland, the Netherlands, Sweden, and the United States, as well as by the European Union and the World Food Program.

Somalia Syndrome is creeping all over the Horn Part III

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Timeline: Ethiopia and Somalia

A look back at the troubled relations between Ethiopia and Somalia – made worse in recent years by Ethiopia’s deep distrust of Somalia’s Islamist groups.

19 May 2009

Somali eye-witnesses report that Ethiopia troops are digging into positions near the border, following advances by Islamist fighters. Ethiopia denies the claims.

15 January 2009

Last Ethiopian troops leave Mogadishu.

28 November 2008

Ethiopia announces that its troops will leave by the end of the year.

21 November 2008

Ethiopian troops supposed to start pull-out under peace deal but no sign of withdrawal in Mogadishu. At least 15 people killed in Islamist attack on the capital.

15 November 2008

President Abdullahi Yusuf admits that his Ethiopian-backed government only controls parts of Mogadishu and Baidoa.

26 October 2008

Government and moderate Islamists promise to implement a ceasefire and say Ethiopian troops will start to leave.

2007-2008

Islamists stage frequent attacks on Ethiopian and government forces. Hardliners refuse to take part in peace talks unless Ethiopians agree to leave Somalia.

1 January 2007

Somali government troops, supported by Ethiopian troops, seize the southern port of Kismayo – the last remaining stronghold of the UIC

28 December 2006

Ethiopian-backed government forces capture the capital, Mogadishu, hours after Islamist fighters flee the city.

27 December

Ethiopian and Somali government troops take control of Jowhar, a strategic town previously held by the Islamists.

26 December

Forces loyal to the transitional government are reported to have taken control of the town of Burhakaba from the UIC. Other areas of southern and central Somalia are also said to have fallen under heavy assault from Somali and Ethiopian troops. Retreating Islamist militias are attacked by Ethiopian jets for a third day.

25 December

Ethiopian aircraft bomb Mogadishu airport.

24 December

Ethiopia for the first time admits its forces are fighting in Somalia, saying it has launched a “self-defensive” operation against Islamist militiamen. Fighting spreads across a 400km front along the border.

12 December

Islamic courts give Ethiopian troops one week to leave Somalia or face a “major attack”.

8 December

Islamic courts say they have engaged in battle with Ethiopian troops for the first time – south-west of Baidoa.

30 November

Ethiopia’s parliament passes a resolution authorising the government to take all legal and necessary steps against what it terms as any invasion by the UIC.

28 November

Eyewitnesses say Islamist fighters ambushed an Ethiopian convoy near Baidoa, blowing up a truck. The UIC claim some 20 Ethiopians died.

27 November

The Islamic courts say Ethiopian forces shelled the northern town of Bandiradley and it ambushed an Ethiopian convoy near Baidoa

25 October

Ethiopian Prime Minster Meles Zenawi says Ethiopia is “technically at war” with the UIC.

18 September 2006

Somalia’s interim President Abdullahi Yusuf survives an assassination attempt.

21 July

The Islamic court leadership orders a “holy war” against Ethiopians in Somalia.

20 July

A column of Ethiopian trucks, more than 100-strong and including armoured cars, are seen crossing into Somalia. Ethiopia only admits to having military trainers in the country helping the interim government.

June 2006

The Islamic courts take control of the Somalia capital, Mogadishu, from rival warlords and go on to gain territory in much of southern territory.

2004

Long-time Ethiopian ally and warlord, Abdullahi Yusuf becomes Somalia’s interim president making Baidoa his base.

1996

Ethiopian forces defeat Islamist fighters in the Somali town of Luuq.

1991

Somalia descends into civil war between rival clan warlords.

1988

Peace accord signed.

1964 and 1977

Two wars fought over Ethiopia’s Somali-inhabited Ogaden region.

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Britten Wood’s IMF & WB :- Woyane needs Euthanasia Not comma

How the institution of Britten Wood keeps a dead regime alive …

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IMF commits crime against Humanity  by keeping Woyane regime  in Comma by prolonging   Ethiopians agony.

Woyane owns s the IMF not Ethiopia in 17 years from December  1992  to September 30 2009  the sum of   106,960,000 SDR Now is asking the sum of SDR 153.755 million (about USD 240 million) which is more than  the sum its has sepnt in the last 17 years.

(The SDR is an international reserve asset created by the IMF in 1969 and serves as its unit of account. The currency value of the SDR is determined by summing the values in U.S. dollars of a basket of major currencies.)

IMF committing  crime against humanity  by keeping a regime in comma for almost two decades in  power in Ethiopia. IMF shares the responsibility for starving  and killing Ethiopians  by directly financing  a regime  responsible for genocide and ethnic cleansing. Recently IMF  has been duped to believe and recognize the economic performance of  Woyane regime in Addis Ababa .  They believed the following Woyane conclusion being acceptable  it reads in the following wise : CONCLUSION “Ethiopia remains at moderate risk of debt distress, though the level of risk is higher now than a year ago. This assessment highlights the importance for Ethiopia of keeping a close tab on debt vulnerabilities and of making every effort to secure grant and concessional financing for its ambitious public enterprise investment plans. At the same time, there is considerable scope to attract large FDI and increase export growth by means of structural reforms. In addition, emphasis should be placed on strengthening debt management capacity as well as sharing detailed information on future borrowings—both external and domestic—with relevant stakeholders, such as the IMF and the Bank. Finally, given the size of borrowing by public enterprises, it is imperative to expand the current debt strategy and monitoring exercise to include the largest public enterprises and assess potential contingent liabilities. ” A complete manuplation of  Woyane just to get money from IMF for their structural adjustment of Woyane which means throwing out of job the opposition and  to use it as an arm of  Ethnic purification by starving the un wanted population.” “—————-  ———- bbbbbbbbbbbbbb bbbbbbbbbbbb

Strauss-Kahn in Istanbul: “It no longer makes sense for global economic policy to be the concern of just a small group of countries” (IMF photo)

‘Istanbul Decisions’ to Guide IMF as Countries Shape Post-Crisis World

IMF Managing Director Dominique Strauss-Kahn tells policymakers from 186 countries gathered in Istanbul that global cooperation has saved the world from a far worse crisis and leaders should now seize the opportunity to shape a post-crisis world. click for more The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world’s major industrial states in the mid 20th century. The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states. Preparing to rebuild the international economic system as World War II was still raging, 730 delegates from all 44 Allied nations gathered at the Mount Washington Hotel inBretton Woods, New HampshireUnited States, for the United Nations Monetary and Financial Conference. The delegates deliberated upon and signed the Bretton Woods Agreements during the first three weeks of July 1944. Setting up a system of rules, institutions, and procedures to regulate the international monetary system, the planners at Bretton Woods established the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), which today is part of the World Bank Group. These organizations became operational in 1945 after a sufficient number of countries had ratified the agreement. The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained the exchange rate of its currency within a fixed value—plus or minus one percent—in terms of gold and the ability of the IMF to bridge temporary imbalances of payments. In the face of increasing financial strain, the system collapsed in 1971, after the United States unilaterally terminated convertibility of the dollars to gold. This action caused considerable financial stress in the world economy and created the unique situation whereby the United States dollar became the “reserve currency” for the states which had signed the agreement. mmmmm mmmmmm

The “Ethiopian” Sham full  beggar  continues to make money on the name development listen to this  shame letter

THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA

LETTER OF INTENT

Addis Ababa, August 7, 2009

Mr. Dominique Strauss-Kahn

Managing Director

International Monetary Fund

700 19th

Street, N.W.

Washington, D.C. 20431

U.S.A.

Dear Mr. Strauss-Kahn: The government of Ethiopia requests support from the International Monetary Fund (IMF) for its 2009/10 economic program through a 14-month arrangement under the High-Access Component of the Exogenous Shocks Facility (ESF). We request access of 115 percent of quota, the equivalent of SDR 153.755 million (about USD 240 million). Macroeconomic performance has improved substantially under the policy package supported by the IMF with a drawing under the Rapid Access Component of the ESF, approved by the IMF Executive Board in January 2009. Given the still-low level of foreign exchange reserves, the requested arrangement will greatly assist with our efforts to steer the Ethiopian economy through the global economic crisis, sending a positive signal to domestic stakeholders and our development partners about our resolve to maintain a stable macroeconomic environment. In the attached Memorandum of Economic and Financial Policies (MEFP), we describe policy implementation in 2008/09 and set out our macroeconomic objectives and policies for 2009/10. Our program focuses on entrenching low inflation and building international reserves through appropriately tight fiscal and monetary policies supported by the necessary exchange rate flexibility. We also intend to enhance monitoring and control of borrowings by the public enterprise sector, develop the central bank’s liquidity forecasting and control capacity, and flesh out, with IMF technical assistance, a comprehensive time-bound tax reform strategy to improve domestic revenue mobilization. The MEFP and Technical Memorandum of Understanding (TMU) present quantitative performance criteria and indicative targets as well as structural benchmarks through the period of the arrangement. We believe that the policies set forth in the MEFP are adequate to achieve the objectives of the program, but we will take additional measures as needed to reach these goals. We will consult with IMF staff on the adoption of these measures, and in advance of revisions to the policies contained in the MEFP, in accordance with the agreed IMF policies on such consultation. The government of Ethiopia authorizes the IMF to publish the contents of this letter, and the attached MEFP and TMU, on its website after consideration of our request by the Executive Board. Sincerely yours, Sufian Ahmed        Teklewold Atnafu Minister        Governor The Ministry of Finance and Economic Development  The National Bank of Ethiopia mmmmmmmmmmm mmmmmmmmmmmmmm

The Ethiopian debt has raised to 160,960 million now he is asking for more of  153,755 million

The SDR is an international reserve asset created by the IMF in 1969 and serves as its unit of account. The currency value of the SDR is determined by summing the values in U.S. dollars of a basket of major currencies.

Date GRA Purchases SAF, TF, ESAF/PRGF Loans Totals
September 30, 2009 0 106,960,000 106,960,000
December 31, 2005 0 112,073,000 112,073,000
December 31, 2004 0 117,971,000 117,971,000
December 31, 2003 0 105,835,000 105,835,000
December 31, 2002 0 105,415,000 105,415,000
December 31, 2001 0 84,020,000 84,020,000
December 31, 2000 0 59,142,000 59,142,000
December 31, 1999 0 69,026,000 69,026,000
December 31, 1998 0 76,086,000 76,086,000
December 31, 1997 0 64,165,000 64,165,000
December 31, 1996 0 64,165,000 64,165,000
December 31, 1995 0 49,420,000 49,420,000
December 31, 1994 0 49,420,000 49,420,000
December 31, 1993 0 35,300,000 35,300,000
December 31, 1992 0 14,120,000 14,120,000
December 31, 1991 0 0 0
December 31, 1990 4,412,500 101,946 4,514,446
December 31, 1989 22,062,500 922,746 22,985,246
December 31, 1988 36,902,277 3,941,346 40,843,623
December 31, 1987 44,172,163 9,198,105 53,370,268
December 31, 1986 54,305,680 14,454,867 68,760,547
December 31, 1985 45,053,970 19,711,629 64,765,599
December 31, 1984 76,068,180 24,147,591 100,215,771

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Ethiopia: Financial Position in the Fund as of September 30, 2009 according to IMF

Summary of IMF members’ quota, reserve position, SDR holdings, outstanding credit, recent lending arrangements, projected payments due to the IMF, and monthly historical transactions with the Fund.
I. Membership Status: Joined: December 27, 1945; Article XIV
II. General Resources Account: SDR Million %Quota
Quota 133.70 100.00
Fund holdings of currency 126.22 94.41
Reserve Tranche Position 7.51 5.62
Lending to the Fund
Notes Issuance
Holdings Exchange Rate
III. SDR Department: SDR Million %Allocation
Net cumulative allocation 127.93 100.00
Holdings 17.69 13.83
IV. Outstanding Purchases and Loans: SDR Million %Quota
ESF Arrangements 73.54 55.00
ESF RAC Loan 33.43 25.00
V. Latest Financial Arrangements:
Date of Expiration Amount Approved Amount Drawn
Type Arrangement Date (SDR Million) (SDR Million)
ESF Aug 26, 2009 Oct 25, 2010 153.76 73.54
PRGF Mar 22, 2001 Oct 31, 2004 100.28 100.28
PRGF Oct 11, 1996 Oct 22, 1999 88.47 29.49
VI. Projected Payments to Fund  1/
(SDR Million; based on existing use of resources and present holdings of SDRs):
Forthcoming
2009 2010 2011 2012 2013
Principal
Charges/Interest 0.23 0.82 0.82 0.82 0.82
Total 0.23 0.82 0.82 0.82 0.82
1/ When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.
VII. Implementation of HIPC Initiative:
Enhanced
I.   Commitment of HIPC assistance Framework
Decision point date Nov 2001
Assistance committed
by all creditors (US$ Million) 1/ 1,982.20
Of which: IMF assistance (US$ million) 60.85
(SDR equivalent in millions) 45.12
Completion point date Apr 2004
II.  Disbursement of IMF assistance (SDR Million)
Assistance disbursed to the member 45.12
Interim assistance 10.28
Completion point balance 34.84
Additional disbursement of interest income 2/ 1.54
Total disbursements 46.66
1/ Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts can not be added.
2/ Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period.
VIII. Implementation of Multilateral Debt Relief Initiative (MDRI):
I.       MDRI-eligible debt (SDR Million)1/ 112.07
Financed by: MDRI Trust 79.66
Remaining HIPC resources 32.41
II.       Debt Relief by Facility (SDR Million)
Eligible Debt
Delivery Date GRA PRGF Total
January 2006 N/A 112.07 112.07
1/ The MDRI provides 100 percent debt relief to eligible member countries that qualified for the assistance. Grant assistance from the MDRI Trust and HIPC resources provide debt relief to cover the full stock of debt owed to the Fund as of end-2004 that remains outstanding at the time the member qualifies for such debt relief.
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Decision point – point at which the IMF and the World Bank determine whether a country qualifies for assistance under the HIPC Initiative and decide on the amount of assistance to be committed.
Interim assistance – amount disbursed to a country during the period between decision and completion points, up to 20 percent annually and 60 percent in total of the assistance committed at the decision point (or 25 percent and 75 percent, respectively, in exceptional circumstances).
Completion point – point at which a country receives the remaining balance of its assistance committed at the decision point, together with an additional disbursement of interest income as defined in footnote 2 above. The timing of the completion point is linked to the implementation of pre-agreed key structural reforms (i.e., floating completion point).
Prepared by Finance Department

The end of the Bretton Woods System (1972–81)

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By the early 1960s, the U.S. dollar’s fixed value against gold, under the Bretton Woods system of fixed exchange rates, was seen as overvalued. A sizable increase in domestic spending on President Lyndon Johnson’s Great Society programs and a rise in military spending caused by the Vietnam War gradually worsened the overvaluation of the dollar. End of Bretton Woods system The system dissolved between 1968 and 1973. In August 1971, U.S. President Richard Nixon announced the “temporary” suspension of the dollar’s convertibility into gold. While the dollar had struggled throughout most of the 1960s within the parity established at Bretton Woods, this crisis marked the breakdown of the system. An attempt to revive the fixed exchange rates failed, and by March 1973 the major currencies began to float against each other. Since the collapse of the Bretton Woods system, IMF members have been free to choose any form of exchange arrangement they wish (except pegging their currency to gold): allowing the currency to float freely, pegging it to another currency or a basket of currencies, adopting the currency of another country, participating in a currency bloc, or forming part of a monetary union.
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