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The Latest: Israeli PM to cut short US visit after attack

The Latest on developments in Israel and the Palestinian territories (all times local):

8:15 a.m.

Israeli Prime Minister Benjamin Netanyahu says he's cutting short his visit to Washington after a Gaza rocket attack on Israel.

Netanyahu described Monday morning's rocket launch that struck a home in central Israel as a "criminal attack" and vowed to strike back hard. He says he will return to Israel to handle the crisis shortly after meeting with President Donald Trump on Monday.

An Israeli rescue service said the rocket from the Gaza Strip struck a house in central Israel, wounding seven people.

The sounds of air raid sirens woke up the residents of the residential Sharon area, northeast of Tel Aviv, sending them scurrying to bomb shelters. A strong explosion followed.

___

6:15 a.m.

An early morning rocket from the Gaza Strip has struck a house in central Israel on Monday, wounding seven people, raising concerns the attack could set off another round of violence shortly before the Israeli election.

The sounds of air raid sirens woke up the residents of the residential Sharon area, northeast of Tel Aviv, on Monday, sending them scurrying to bomb shelters. A strong sound of an explosion followed.

The Israeli military says it identified a rocket fired from the Gaza Strip. Israeli police say the rocket hit a residential home in the community of Mishmeret, north of the city of Kfar Saba, setting off a fire and destroying the house.

The Magen David Adom rescue service said it was treating seven people, including two women who were moderately wounded. The others, including two children and an infant, had minor wounds.

Source: Fox News World

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Saudi Falih optimistic on continued commitment to OPEC+ oil supply cut

FILE PHOTO: Saudi Arabia's Energy Minister Khalid al-Falih speaks during the Saudi-India Forum in New Delhi
FILE PHOTO: Saudi Arabia's Energy Minister Khalid al-Falih speaks during the Saudi-India Forum in New Delhi, India, February 20, 2018. REUTERS/Anushree Fadnavis/File Photo

March 17, 2019

BAKU (Reuters) – Saudi Arabia’s energy minister said on Sunday he was optimistic about continued commitment to the oil supply cut agreement between OPEC and non-OPEC members.

“I am obviously optimistic that implementation of our OPEC+ agreement will improve, it’s already strong by historical standards,” Khalid al-Falih said on the sidelines of the joint ministerial monitoring committee meeting in Baku.

Overall conformity with the cuts in the first two months of this year are less than levels seen in 2017 and 2018 but the oil producers “will catch up very soon,” he told reporters.

Saudi Arabia along with other oil producers such as Azerbaijan will continue to work together to manage oil market stability, he said.

“We will not allow energy security to be challenged by any event, but at the same time we will not leave investors, and oil and gas companies to stay bewildered not knowing what tomorrow is going to bring in terms of stable environment where investments can flow to the sector,” he told reporters.

(Reporting by Nailia Bagirova, Rania El Gamal and Vladimir Soldatkin, Writing by Nafisa Eltahir; Editing by Toby Chopra)

Source: OANN

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German growth weakness persists but pessimism unwarranted: Bundesbank

FILE PHOTO: The 'Europacity' construction site is pictured in Berlin
FILE PHOTO: The 'Europacity' construction site is pictured in Berlin, Germany, July 27, 2018. REUTERS/Fabrizio Bensch/File Photo

February 27, 2019

FRANKFURT (Reuters) – Germany’s growth weakness has extended into 2019 but the foundations of a rebound remain in place, Bundesbank President Jens Weidmann said on Wednesday in the presentation of the bank’s 2018 annual report.

Growth in Germany, the euro zone’s biggest economy, stalled in the second half of last year and fears are growing that its difficulties may not be as temporary as earlier thought, a potential drag for the entire currency bloc.

The Bundesbank said growth this year will be “well below” its potential rate of 1.5 percent as the dip, which had been expected to end last year, still persists.

“There is much to suggest that the dip in growth here in Germany has persisted into the current year … and that is probably why German economic growth will fall well short of the potential rate of 1.5 percent in 2019,” Weidmann said.

But he said there was no reason for pessimism as the prerequisites for further expansion remain solid, as financing remains cheap, employment is expanding and wages are rising.

The Bundesbank earned a profit of 2.5 billion euros last year and will pay 2.4 billion euros into the German budget, up from 1.9 billion a year earlier.

It is also increasing risk provisions by 1.475 billion euros to bring 17.9 billion euros, the central bank added.

(Reporting by Balazs Koranyi; Editing by Catherine Evans)

Source: OANN

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Top House Dem says Cohen likely to face DOJ perjury probe; admits blocking Fox News from primary debates 'doesn't help'

A top Democrat on the House Oversight Committee told "Fox News Sunday" that she believes the panel's chairman, Rep. Elijah Cummings, will "end up referring" former Trump attorney Michael Cohen to the Department of Justice for a perjury investigation, after numerous contradictions and inconsistencies have surfaced in his dramatic public testimony late last month.

Rep. Katie Hill, D-Calif., who also serves as the liason to the Democratic leadership, additionally charged that the Democratic National Committee (DNC) erred by blocking Fox News from hosting any Democratic primary debates, saying the move doesn't do anything to "help" the growing partisan tensions.

Hill's comments came as Cohen's own lawyer, Lanny Davis, has corrected Cohen's statements before the House oversight panel. Several Republicans have accused Cohen of perjury on a variety of matters.

Fox News exclusively reported on Friday, citing two sources familiar with the matter, that Cohen met with staff for Adam Schiff, D-Calif., for more than 10 hours before his testimony. In addition to his public remarks, Cohen has met with the House panel several times behind closed doors.

Even as she seemingly acknowledged that Democrats "can't go anywhere" on impeaching President Trump at the moment, Hill indicated that Cummings had more than enough justification to request another criminal probe into Cohen, who has already pleaded guilty to lying to Congress in 2017 concerning the duration of negotiations to build a Trump Tower in Moscow.

SCHIFF STAFF WENT TO NEW YORK FOUR TIMES TO MEET WITH COHEN FOR MORE THAN 10 HOURS -- FOR TESTIMONY LASTING ONLY 7 HOURS, SOURCES SAY. WAS HE COACHED?

"I don’t know if he lied or not," Hill said. "I think that this is, Chairman Cummings is incredibly deliberate. I know that he's reviewing the entire testimony, all the transcripts with [GOP ranking member Rep. Jim Jordan] who also is going to make sure that we get to the bottom of this."

Michael Cohen, President Donald Trump's former personal lawyer, becomes emotional as he finishes a day of testimony to the House Oversight and Reform Committee, on Capitol Hill in Washington, Wednesday, Feb. 27, 2019. (AP Photo/J. Scott Applewhite)

Michael Cohen, President Donald Trump's former personal lawyer, becomes emotional as he finishes a day of testimony to the House Oversight and Reform Committee, on Capitol Hill in Washington, Wednesday, Feb. 27, 2019. (AP Photo/J. Scott Applewhite)

Among the key areas of focus: Cohen's own attorney, Lanny Davis, seemingly contradicted Cohen's claims under oath that he had never sought a pardon from the White House.

On Friday, President Trump blasted Cohen, confirming that he denied Cohen's request for a pardon.

"Bad lawyer and fraudster Michael Cohen said under sworn testimony that he never asked for a Pardon. His lawyers totally contradicted him. He lied! Additionally, he directly asked me for a pardon. I said NO. He lied again! He also badly wanted to work at the White House. He lied!" Trump tweeted.

Hill told Wallace she was not sure "how that went down exactly," but suggested that Cohen was in a "panic."

"I would imagine that in the panic that was going on when you’re about to go down [on criminal charges], right, that you’re going to say like 'yeah, figure out whatever you can do,'" Hill said. "And I imagine that Chairman Cummings will end up referring him. That’s just my guess."

Cummings said on Thursday that he has "to make sure" that Cohen's statements were "true inconsistencies and not outright lies,” and claimed he told Cohen personally that he would “nail you to the cross” if he had lied to Congress again. “And I meant that,” Cummings said.

Referencing those comments, Hill told Wallace: "When [Cummings] says something like, 'I'm going to nail you to the cross'  he means it. I've seen him in action. He's not going to let this go."

"He's not going to let this go."

— Rep. Katie Hill, on Elijah Cummings

And Cohen has also faced scrutiny from multiple fronts -- including CNN and the Trump administration -- for claiming under oath that he had not sought out a job in the Trump White House. Davis later acknowledged that Cohen was, in fact, at one time considering the possibility of working in the White House.

Cohen is set to head to prison in May, although his sentence is yet to be determined. Some Republicans accused Cohen of seeking to garner favor with prosecutors with his testimony.

Still, despite the debate over Cohen's truthfulness, Hill said, the Trump administration is still blameworthy -- even if it may lack criminal culpability.

"I really think that this is about getting to the truth, about showing it to the American people, and then we go from there. But at the end of the day if -- if people -- you know, the citizens of the United States -- don't believe that it has risen to that level, then we can't go anywhere," Hill said. "So really it's about exposing the truth and it's about getting to the bottom of this and it's about asking the questions of 'Is this the kind of government, is this the kind of leadership that we want to see, is this OK, is this the kind of state that we want to leave our democracy in to our children?' And right now I just don't believe that it is."

Hill went on to imply that the media climate has become "more and more partisan," after anchor Chris Wallace pressed for her response to DNC Chairman Tom Perez's decision to ban Fox News from hosting Democratic primary debates. Perez claimed Fox News would not be “fair and neutral” forums for the candidates, citing contested allegations in a recent article in The New Yorker.

"I think it’s the Democratic primary and I think we know that there are basically no Democrats who watch Fox News, so to me that's pretty fair," Hill began, although she later acknowledged that "certainly Independents" would be potential debate viewers.

"I'm here because I do represent a purple district," Hill told Wallace. "You know, I think that there's a lack of bias and I'm hoping that we can change that. I feel like you're treating me without bias, and I appreciate that. And I think that this is something we have to change. I personally don't think it helps when we're saying we're not going to have any of the debates on Fox News."

Hill added: "I don't know how much of that was driven by the candidates, how much of it was driven by the party. I'd like to see all of that change. I want to see the media become as unbiased as possible, but you know, I don't know that we're in that state right now, which is really unfortunate."

CLICK TO GET THE FOX NEWS APP

Former DNC Chairman Ed Rendell told Fox News on Thursday that the decision was a grave strategic mistake by Democrats.

“If we could pick the commentators and moderators, I think we should have the debate on Fox, because let me tell you — even if we can persuade 3 percent of Fox viewers, 3 percent last time out, carries Michigan,” Rendell, who served as DNC chair during the 2000 election, said in an interview. “I was the DNC chair, I would say, ‘Give me Bret Baier, Chris Wallace and Juan Williams, and you can have that Fox debate anywhere, anytime, any number of times."

Fox News' Chris Wallace and Brooke Singman contributed to this report.

Source: Fox News Politics

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Treaty’s end would give U.S., Russia impetus to make more nukes: study

National flags of Russia and U.S. fly at Vnukovo International Airport in Moscow
FILE PHOTO - National flags of Russia and the U.S. fly at Vnukovo International Airport in Moscow, Russia April 11, 2017. REUTERS/Maxim Shemetov

April 1, 2019

By Arshad Mohammed and Jonathan Landay

WASHINGTON (Reuters) – The demise of the only U.S.-Russia arms control pact limiting deployed nuclear weapons would make it harder for each to gauge the other’s intentions, giving both incentives to expand their arsenals, according to a study to be released on Monday.

The expiration of the New START accord also may undermine faith in the Nuclear Non-Proliferation Treaty, which calls on nuclear states such as the United States and Russia to work toward nuclear disarmament, as well as influence China’s nuclear posture, historically one of restraint.

The study, produced by the CNA Corp non-profit research group and seen by Reuters, is the most comprehensive public examination to date of the consequences of New START’s demise. It argues for extending the 2011 treaty, which expires in February 2021 but can be extended for five years if both sides agree.

The Trump administration is deliberating whether to extend the pact, which President Donald Trump has reviled as a bad deal and his national security adviser, John Bolton, has long opposed. Russia has said it is prepared to extend New START but wants to discuss what it regards as U.S. violations first.

The State Department did not immediately respond to a request for comment on the administration’s deliberations.

Trump has said Washington will withdraw from another arms pact, the 1987 Intermediate-range Nuclear Forces Treaty, this summer unless Moscow ends its alleged violations, compounding tense ties. Russia denies violating the INF treaty. [nL1N1ZW0K1]

The New START treaty required the United States and Russia to cut their deployed strategic nuclear warheads to no more than 1,550, the lowest level in decades, and limit delivery systems – land- and submarine-based missiles and nuclear-capable bombers.

It also includes extensive transparency measures requiring each side to allow the other to carry out 10 inspections of strategic nuclear bases each year; give 48 hours notice before new missiles covered by the treaty leave their factories; and provide notifications before ballistic missile launches.

Both sides must also exchange data declaring their deployed strategic nuclear warheads, delivery vehicles and launchers, as well as breakdowns of how many of each are located at individual bases.

All of that would end if the treaty expires.

“Neither country would have the same degree of confidence in its ability to assess the other’s precise warhead levels,” CNA’s Vince Manzo wrote in the study. “Worst-case planning is also more likely as a result.

“Increased opacity between U.S. and Russian strategic nuclear forces would unfold within the broader context of growing mistrust and diverging perceptions about strategy, intentions, and perceptions,” he added.

Without the data, the United States would have to reassign its overworked satellites, possibly devoting more surveillance to Russia and less to China, Iran and North Korea.

Another casualty of the treaty’s expiration could be global nonproliferation, making non-nuclear states doubt the United States and Russia will keep working toward nuclear disarmament under the NPT, the study said.

While it was impossible to predict how China – estimated to have about 280 nuclear warheads – would react to New START’s expiry, the study cites factors that could make Beijing expand its capability.

Without a treaty limiting U.S. and Russian nuclear forces, China could overestimate their arsenals. Unconstrained U.S. and Russian forces could also strengthen voices in China that view a large arsenal as symbolically important, as well as those already advocating for more nuclear weapons.

The study recommends steps for the United States and Russia to mitigate the risks from the treaty’s expiration, including voluntarily sticking to its limits and continuing to exchange data. It also recommends Washington propose annual exchanges of nuclear weapons information and dialogue with Beijing.

(Reporting by Arshad Mohammed and Jonathan Landay; Editing by Mary Milliken and Dan Grebler)

Source: OANN

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Syria Kurds evacuate civilians from Islamic State redoubt, hail Trump troop reversal

Trucks loaded with civilians ride near the village of Baghouz, Deir Al Zor province
Trucks loaded with civilians ride near the village of Baghouz, Deir Al Zor province, Syria February 22, 2019. REUTERS/Rodi Said

February 22, 2019

By Rodi Said and Ellen Francis

NEAR BAGHOUZ, Syria/ERBIL, Iraq (Reuters) – Kurdish-led forces in Syria said they would complete the evacuation of thousands of civilians from Islamic State’s last redoubt in the area on Friday, and welcomed a White House reversal of President Donald Trump’s decision to pull out all U.S. troops.

With Washington’s allies poised for victory against Islamic State fighters making a final stand in a pocket near the Iraqi border, the White House announced plans on Thursday to keep “a small peacekeeping force” of 200 troops in Syria.

The announcement partially reversed Trump’s abrupt decision in December to withdraw the entire 2,000-strong U.S. contingent, which had alarmed Washington’s Kurdish allies and prompted Defense Secretary Jim Mattis to quit.

Although the U.S. contingent would now be small, Kurdish leaders suggested it could have a major impact on the fate of the area, preventing a security vacuum. Washington could retain control of the air space and its European allies could complement the force with more troops.

The planned assault on the final Islamic State redoubt in the area, Baghouz, would effectively end the territorial rule of the jihadist group, which ruled around a third of both Iraq and Syria at its self-proclaimed Caliphate’s height four years ago.

Reporters near the front line at Baghouz saw dozens of trucks leaving loaded with civilians, and empty ones driving inside accompanied by fighters from the Syrian Democratic Forces (SDF) militia.

Mustafa Bali, an SDF spokesman, said the evacuation would be completed on Friday, with thousands of civilians still inside the pocket from an estimated 7,000 at the start of the day.

More than 20,000 civilians have left Baghouz in recent weeks, according to previous SDF estimates.

The U.S.-led coalition which supports the SDF has said Islamic State’s “most hardened fighters” are holed up inside.

“If we succeed in evacuating all the civilians, at any moment we will take the decision to storm Baghouz or force the terrorists to surrender,” said Bali.

Though the fall of Baghouz would mark a milestone in the campaign against Islamic State, the militant group is still seen as a security threat, using guerrilla tactics and still holding some territory in a remote area west of the Euphrates River.

REVERSAL WELCOMED

The battle against Islamic State in the area has taken place since December in the shadow of Trump’s abrupt decision to withdraw all U.S. troops, which raised doubt about the future of the fighters that had served as U.S. allies on the ground.

The Kurdish-led authorities in the north welcomed the White House reversal. They had feared that a total U.S. withdrawal would leave their area exposed to attack by Turkey, which sees the main Kurdish militia as a national security threat.

“We evaluate the White House decision … positively,” Abdulkarim Omar, co-chair of foreign relations in the region held by the U.S.-backed SDF told Reuters.

“This decision may encourage other European states, particularly our partners in the international coalition against terrorism, to keep forces in the region,” Omar added. “I believe that keeping a number of American troops and a larger number of (other) coalition troops, with air protection, will play a role in securing stability and protecting the region too.”

The SDF’s top commander earlier this week called for 1,000 to 1,500 international troops to remain in Syria to help fight Islamic State and expressed hope Washington would halt Trump’s plans for a total pullout.

A Western diplomat said it remained to be seen whether European allies would contribute troops, or whether the force would be able to secure the area.

“Even if 200 troops remain and the U.S. decides to continue claiming the airspace, it’s not clear whether that would convince Britain, France and other partners to stay — and whether that could keep the Syrian regime out of the northeast for now, or Turkey, or an IS resurgence.”

The Kurds, who want to preserve the autonomy they have carved out, have made overtures to President Bashar al-Assad, urging government forces to deploy at the borders as Washington withdraws. The U.S. decision may strengthen the Kurds’ hand.

“I believe that these forces in this region … will be a motivation, an incentive and also a means of pressure on Damascus to try seriously to have a dialogue to resolve the Syrian crisis,” Omar said.

(Additional reporting by Tom Perry in Beirut; Writing by Tom Perry; Editing by Peter Graff)

Source: OANN

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War Room – 2019-Mar-25, Monday – List: 2 Years Of Failed Russian Collusion Bombshells

Though The Mueller Report has indicated no Russian collusion with Trump and no obstruction charges or indictments, the Democrats are still pushing the false narrative. President Trump begins his offensive in response to the Treasonous Democrats.

GUEST // (OTP/Skype) // TOPICS:
Hayden Hewitt//Skype
Leo Zagami//Skype

Source: The War Room

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Venezuela's Foreign Affairs Minister Jorge Arreaza talks to the media during a news conference in Caracas
Venezuela’s Foreign Affairs Minister Jorge Arreaza talks to the media during a news conference in Caracas, Venezuela April 8, 2019. REUTERS/Manaure Quintero

April 26, 2019

WASHINGTON (Reuters) – The U.S. Treasury Department on Friday imposed sanctions on Venezuela’s foreign minister and a Venezuelan judge, according to a statement on the department’s website.

Foreign Minister Jorge Arreaza and a judge, Carol Padilla, were targeted over the ongoing crisis in Venezuela, the Treasury Department said, the latest in a list of officials blacklisted by U.S. authorities for their role in President Nicolas Maduro’s government.

(Reporting by Susan Heavey, Makini Brice and Lesley Wroughton; Editing by Chizu Nomiyama)

Source: OANN

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Avengers fans gather at the TCL Chinese Theatre in Hollywood to attend the opening screening of
Avengers fans gather at the TCL Chinese Theatre in Hollywood to attend the opening screening of “Avengers: Endgame” in Los Angeles, California, U.S., April 25, 2019. REUTERS/Mike Blake

April 26, 2019

LOS ANGELES (Reuters) – Marvel Studios superhero spectacle “Avengers: Endgame” hauled in a record $60 million at U.S. and Canadian box offices during its Thursday night debut, distributor Walt Disney Co said.

Global ticket sales for the film about Iron Man, Hulk and other popular characters reached $305 million for the first two days, Disney said.

(Reporting by Lisa Richwine; Editing by Chizu Nomiyama)

Source: OANN

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Funeral of journalist Lyra McKee in Belfast
Labour Party leader Jeremy Corbyn attends the funeral service for murdered journalist Lyra McKee at St Anne’s Cathedral in Belfast, Northern Ireland April 24, 2019. Brian Lawless/Pool via REUTERS

April 26, 2019

LONDON (Reuters) – The leader of Britain’s opposition Labour Party, Jeremy Corbyn, said on Friday he had turned down an invitation to a state dinner which will be part of U.S. President Donald Trump’s visit to Britain in June.

“Theresa May should not be rolling out the red carpet for a state visit to honor a president who rips up vital international treaties, backs climate change denial and uses racist and misogynist rhetoric,” Corbyn said in a statement.

He said maintaining the relationship with the United States did not require “the pomp and ceremony of a state visit” and he said he would welcome a meeting with Trump “to discuss all matters of interest.”

(Reporting by Andy Bruce; Writing by William Schomberg)

Source: OANN

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A bedridden 67-year-old woman and more than a dozen animals were rescued Thursday after a welfare check found that they were living in a home filled with trash, urine, and feces, Florida police said.

Pinellas County sheriff’s deputies said when they arrived at the home in Dunedin around 7:20 p.m. Thursday, they could smell the odor of rotting trash and animal feces as they walked up to the driveway.

“Inside the residence, the odor of feces and urine was so overwhelming that deputies had to don masks,” the sheriff’s department said in a statement.

FLORIDA SHERIFF ON BORDER CRISIS AFTER MAJOR DRUG BUST: ‘IT MAKES ME ABSOLUTELY CRAZY’

Walking throughout the residence, the deputies found 10 emaciated dogs and puppies living in bins filled with their own feces, five large Macaw birds flying freely, rats, bugs and overall squalor.

Puppies discovered living in their own feces inside a Florida home that was filled with trash, urine, and feces.

Puppies discovered living in their own feces inside a Florida home that was filled with trash, urine, and feces. (Pinellas County Sheriff’s Office)

Deputies said due to the large amounts of trash in the home, they had to clear a path to reach the victim’s bedroom.

“None of the home’s toilets were working and all were found to be overflowing with feces,” deputies said. “The only working sink was located on the opposite end of the house from the victim’s bedroom.”

They said there was no food or water for the victim or the animals.

FLORIDA MAN IN EASTER BUNNY COSTUME CAUGHT IN VIRAL BRAWL IS WANTED IN NEW JERSEY, HAS HISTORY OF ARRESTS

The victim was transported to a local hospital for injuries that were non-life threatening, while the animals were transported to shelters.

The woman’s caretaker, Richard Lawrence Goodwin, 65, was arrested and charged with abuse and neglect of an elderly person, disabled person, and cruelty to animals.

Richard Goodwin, 69, was arrested for abuse and neglect of an elderly and disabled person after deputies found she was living in deplorable conditions.

Richard Goodwin, 69, was arrested for abuse and neglect of an elderly and disabled person after deputies found she was living in deplorable conditions. (Pinellas County Sheriff’s Office)

The sheriff’s department said this was Goodwin’s second arrest for abuse and neglect of the same victim. He was previously arrested in May 2018.

CLICK HERE TO GET THE FOX NEWS APP

Neighbor Victoria Muenzerbeer told FOX 13 that Goodwin and the victim were hoarders and the conditions inside the home were horrible years ago when she visited once.

“I went in and it was absolutely, a human being couldn’t live there,” she said. “The kitchen wasn’t usable and part of the wall was falling in.”

Source: Fox News National

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Libyan Minister of Economy Ali Abdulaziz Issawi speaks during an interview with Reuters in Tripoli
Libyan Minister of Economy Ali Abdulaziz Issawi speaks during an interview with Reuters in Tripoli, Libya April 25, 2019. REUTERS/Hani Amara

April 26, 2019

By Ulf Laessing

TRIPOLI (Reuters) – Libya’s U.N.-recognized government has budgeted up to 2 billion dinars ($1.43 billion) to cover costs of a three-week-old war for control of the capital, such as treatment for the wounded, to be funded without new borrowing, the economy minister said.

Ali Abdulaziz Issawi suggested the government hoped for business to continue more or less as usual despite the assault on Tripoli, in the country’s northwest, by forces tied to a parallel administration based in the eastern city of Benghazi.

Once Africa’s third largest producer of oil, Libya has been riven by factional conflict since the fall of Muammar Gaddafi in 2011, with the country now broadly split between eastern-based forces under Khalifa Haftar and the U.N.-backed government in Tripoli, in the west, under Prime Minister Fayez al-Serraj.

Still, with Haftar’s Libyan National Army forces unable so far to pierce defenses in Tripoli’s southern suburbs, normal life and business activities continue in much of the capital and western coastal towns.

Issawi, in an interview with Reuters in his Tripoli office, also said Libya’s commercial ports and wheat imports were still functioning normally, although some roads have been blocked.

He said the Serraj government estimates it will spend up to 2 billion dinars extra on medical treatment for wounded, aid for displaced people and other “emergency” war costs.

He said this was not military spending but analysts believe that the sum will also cover expenditures such as pay for allied armed groups or food for fighters.

“We could actually spend less,” he added, in comments that gave the first insight into the economic impact of the fighting.

Issawi said the Tripoli government, which controls little territory beyond the greater capital region, would not incur new debt to fund the war costs, sticking to a plan to post a 2019 budget without a deficit.

Tripoli derives revenue largely from oil and natural gas production, interest-free loans from local banks to the central bank, and a 183 percent surcharge on foreign exchange transactions conducted at official rates.

But with centralized tax collection greatly diminished, public debt has piled up – to 68 billion dinars in the west, including unpaid state obligations such as social insurance.

Some analysts expect Serraj’s government will be forced to raise new debt if the war for control of Tripoli drags on.

With much of Libya dominated by armed factions that also act as security forces, the public wage bill for both the western and eastern administrations has soared as fighters have been made public employees in efforts to buy their loyalty.

The east has sold bonds worth 35 billion dinars outside the official financial system as the Tripoli central bank does not fund the parallel government apart from some wages.

Despite its limited reach, the Tripoli government still runs an annual budget of around 46.8 billion dinars, mainly for public salaries and fuel subsidies.

“This year we cannot finance via debt…we will not borrow (by agreement with the central bank),” Issawi said.

According to International Monetary Fund data, Libya’s central government debt-to-GDP ratio is 143 percent, making it one of the most heavily indebted in the world on that measure.

Issawi declined to say what parts of the budget would be trimmed to support the extra outlay for war costs.

However, with some 70 percent of the budget allocated to public wages, fuel subsidies and other welfare benefits, a portion devoted to infrastructure is most likely to be axed.

Widespread lawlessness has meant there have been no major infrastructural projects since 2011, when a NATO-backed uprising overthrew dictator Muammar Gaddafi, leaving schools, hospitals and roads in acute need of restoration.

FOREX SURCHARGE

Issawi said the government planned to raise as much as 30 billion dinars by the end of 2019 from hard currency deals after imposing in September a 183 percent surcharge on commercial and private transactions done on the official rate of 1.4 to the U.S. dollar. That fee has effectively devalued the official rate to 3.9, much closer to the black market equivalent.

Some 17 billion dinars have been raised since then, with hard currency allocated for import credit letters now issued without delays, Issawi said. The forex fee has helped the government forecast a budget in the black for 2019.

Despite the narrowing spread between the two rates, the black market continues to thrive. Dozens of traders remained at their favorite spot behind the central bank headquarters in Tripoli when Reuters reporters visited it last week.

But traders said it could take time for the Serraj government to register the extra forex receipts as official banking channels were taking up to six months to approve import financing, keeping the black market in play for dealers.

Issawi said authorities planned to lower the forex fee from 183 percent, without saying when. The black market rate has dropped from 6 to around 4.1 since September but it has hardly moved of late as demand for black market cash remains high.

The Tripoli government has stopped subsidizing food and bread, which used to be cheaper than drinking water in Libya. Wheat imports are now being arranged by private traders and there are surplus stocks of flour at the moment, Issawi said.

(Reporting by Ulf Laessing in Tripoli with additional reporting by Karin Strohecker in London; Editing by Mark Heinrich)

Source: OANN

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