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Japan’s 10-day break to fete new emperor may breathe life into economy

FILE PHOTO : Holidaymakers view thousands of carp streamaers in Sagamihara, Japan.
FILE PHOTO : Holidaymakers view thousands of carp streamers hanging on the bank of the Sagami river in Sagamihara, southwest of Tokyo May 3, 2005. REUTERS/Issei Kato

April 23, 2019

By Malcolm Foster

TOKYO (Reuters) – Japan’s unprecedented 10-day holiday to celebrate Crown Prince Naruhito’s enthronement is expected to give the sluggish economy at least a short-term boost.

Breweries, hotels, retailers, restaurants and train operators are all expected to benefit from the holiday, which runs from April 27 to May 6. Banks, schools, government offices and many businesses will be closed.

A record 24.7 million people – about one-fifth the country’s population – are expected to travel, according to travel agency JTB Corp., mostly within the country.

“Japanese are in a festive mood, with the new imperial era beginning and the 10-day break,” said Yoshiie Horii, a spokesman for brewer Asahi Group, which is increasing production of several brands by 5-10 percent ahead of the break. “We think this holiday will spur consumer spending.”

Japan has a cluster of national holidays every year around this time dubbed “Golden Week.” But this year, authorities gave the nation an extended vacation to fete the imperial succession.

After a 31-year reign, Emperor Akihito will abdicate on April 30 and be replaced by his son Naruhito the next day.

Japanese have made travel plans months ahead of time, creating intense competition for popular destinations such as Hawaii and Europe. Akiko Nishikata’s family tried in November to reserve a package tour to Hawaii for Golden Week but were told they were sold out.

“This is a once-in-a-lifetime chance to go on a long trip, so we’re disappointed,” Nishikata said. Instead, they’ll travel to either Hokkaido in the north or Kyushu in the south.

Also, because the imperial transition is triggered by Akihito’s abdication, not his death, consumers don’t feel a need to hold back due to mourning.

To mark the new era, department stores in Tokyo plan to offer limited quantities of commemorative items on May 1, including traditional sweets with “Hello, Reiwa” on them and confections sprinkled with powdered gold.

TAX HIKE

The expected economic bump from the long holiday will boost second-quarter GDP growth and give Prime Minister Shinzo Abe’s government another reason to proceed with a planned sales tax increase in October, said Hideo Kumano, chief economist at Dai-ichi Life Research Institute.

Kumano estimates that domestic travel spending will jump nearly 30 percent from a year ago to 1.48 trillion yen ($13.3 billion).

“In March, there was a lot of talk about a recession, but that’s completely disappeared with buzz from the announcement of Reiwa on April 1,” he said. “May 1 will be even bigger.”

Overall consumer spending during the 10 days is forecast to rise 7.6 percent compared with a year ago and contribute a quarter percentage point to GDP, said Koya Miyamae, senior economist at SMBC Nikko Securities.

But other analysts cautioned that an increase would probably be followed by a drop in consumption, making the long-term impact negligible.

“A spending boost, if any, will be short-lived,” said Masaki Kuwahara, senior economist at Nomura Securities.

Manufacturers generally don’t expect the longer holiday to have a big impact. Toyota, for example, says its plants are usually closed for nine days during Golden Week, and it is doing the same this year.

Computer systems companies and other businesses may see a dip in sales because of lost workdays, but a Reuters survey of about 220 companies showed that nearly half didn’t expect the long break to affect their business. About 28 percent predicted a decline in output or sales while a quarter projected a rise.

JITTERY TRADERS

Hospitals will alternate operating hours during the break, as is typical during holidays. Tokyo residents can visit a website to see which hospitals are taking patients, and find more detailed information.

Financial market traders, meanwhile, are worried that the 10-day shutdown could cause disruptions and unsettle the yen.

The U.S. jobs report and several other key events will happen while the market is closed, said Shogo Maekawa, global market strategist at JPMorgan Asset Management.

“It’s a risk that we can’t trade for 10 days even if something volatile happens in overseas markets,” he said.

($1 = 111.6900 yen)

(Reporting and writing by Malcolm Foster; additional reporting by Tetsushi Kajimoto, Naomi Tajitsu, Izumi Nakagawa, Ayai Tomisawa; Editing by Gerry Doyle)

Source: OANN

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Household Research Council 13th Annual Values Voter Summit Remarks by Governor Matt Bevin

Family Research Council 13th Annual Values Voter Summit Remarks by Governor Matt Bevin Speaker: Kentucky Governor Matt Bevin (R) Location: Omni Shoreham Hotel, Washington, D.C. Time: 8:20 p.m. EDT Date: Friday, September 21, 2018 Transcript By Superior Transcriptions LLC www.superiortranscriptions.com (Cheers, applause.) KENTUCKY GOVERNOR MATT BEVIN (R): Thank you. Thank you for being here tonight, […]

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Brunei’s crackdown on homosexuality: Why Kingdom is implementing draconian Sharia law

In an age when global awareness in decriminalizing homosexuality is gaining momentum, the excessively wealthy, Muslim-majority nation of Brunei is enraging much of the international community by moving in the opposite direction.

On Wednesday, it will officially apply the final stages of its harsh interpretation of the Islamic Penal Code known as Sharia Law.

According to the Government of Brunei’s website, those who are convicted of stealing could be sentenced with having their right hands chopped off. If they offend a second time, they may lose a left foot. The Southeast Asian nation will also have legal leeway to issue capital punishment to those who perform black magic, along with stoning for adultery and sodomy.

BRUNEI DEFENDS PLANNED EMBRACE OF EXTREME ISLAMIC LAWS

Awash with oil money, the 400,000-person kingdom has been reigned over by its sultan, 72-year-old Hassanal Bolkiah for more than 50 years, who has amassed a net worth of over $20 billion. So why the scathing law now?

Sultan of Brunei Hassanal Bolkiah walks back after inspecting the guard of honor, accompanied by Singapore President, Tony Tan Keng Yam during the welcome ceremony at the Istana on July 5, 2017 in Singapore.

Sultan of Brunei Hassanal Bolkiah walks back after inspecting the guard of honor, accompanied by Singapore President, Tony Tan Keng Yam during the welcome ceremony at the Istana on July 5, 2017 in Singapore. (Suhaimi Abdullah/Getty Images)

According to a source closely connected to the Sultan, those closest to him consider him a “passive” person. Many say that it would be a difficult task to find a doctor in Brunei who would concede to cutting off a hand, and many seem unconvinced it will be brazenly implemented.

“The Sultan is afraid of extreme Muslims, so he wants to keep things in line,” the insider told Fox News. “It doesn’t make it right, but there are reasons.”

BEVERLY HILLS HOTEL BRACES FOR FRESH CELEBRITY BOYCOT AFTER GEORGE CLOONEY CRITICIZES SULTAN OF BRUNEI OWNER FOR SHARIA LAW

The source furthermore elaborated that a close family member – revered nationwide as a devout Muslim – was rumored to be up to “naughty” endeavors when traveling to open, western societies and the reaction of the aging Sultan was to nip the behavior in the bud.

“Apart from criminalizing and deterring acts that are against the teachings of Islam, it also aims to educate, respect and protect the legitimate rights of all individuals, society or nationality of any faiths and race,” Brunei’s Prime Minister said in a statement.

Yet U.S. experts on the issue remain deeply skeptical that it’s mere political posturing.

BILL MAHER SLAMS GEORGE CLOONEY OVER CALL FOR BEVERLY HILLS HOTEL BOYCOTT: 'IT'S CHICKENSH-- TOKENISM'

“For years, punishing homosexuality and adultery with death has not been uncommon in Sharia-law based societies. Brunei is just the latest nation to jump on this extremist, barbaric bandwagon,” Benjamin Ryberg of the Lawfare Project said. “Regardless of the motivation, Brunei’s laws fly in the face of international human rights norms.”

Benjamin Weinthal, a research fellow for the Foundation for the Defense of Democracies, concurred.

“The radical Islamic ideology behind the law can rapidly turn into mass executions,” he said, pointing out that Iran’s religious regime has executed upwards of 6000 gay and lesbian people since the country’s 1979 Islamic revolution.

LGBTQ GROUPS CONDEMN TRUMP ADMINISTRATION’S CAMPAIGN TO END CRIMINALIZATION OF HOMOSEXUALITY WORLDWIDE AS STUNT

The United Nations high commissioner for human rights, Michelle Bachelet, has called on Brunei to put a stop to the code’s enforcement and the U.S. State Department has expressed “concern,” stating that “some of the punishments in the law appear inconsistent with international human rights obligations.”

Despite the pushback, Brunei’s government is doubling down.

“(The Sultan) does not expect other people to accept and agree with it, but that it would suffice if they just respect the nation in the same way that it also respects them,” the official website reads.

Initial word that the Sultan has brought back Sharia attracted the ire of the Hollywood elite almost five years ago, and for months many boycotted the famed Beverly Hills Hotel and Bel Air Hotel, which are part of the Dorchester Collection that is owned by the Sultan.

George Clooney is calling for the boycott of nine hotels in the U.S. and Europe with ties to Sultan Bolkiah, who's country will implement Islamic criminal laws in April 2019 to punish gay sex by stoning offenders to death. 

George Clooney is calling for the boycott of nine hotels in the U.S. and Europe with ties to Sultan Bolkiah, who's country will implement Islamic criminal laws in April 2019 to punish gay sex by stoning offenders to death.  (AP)

The protest movement eventually fizzled out with a whimper, only to be revived last week after actor and activist George Clooney penned an op-ed in industry trade Deadline, reminding the entertainment community that the barbaric laws would come into play this coming Wednesday and urged others not to “put money directly into the pockets of men who choose to stone and whip to death their own citizens for being gay or accused of adultery” but staying or dining at Dorchester properties.

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According to a source connected to the Beverly Hills Hotel, the restored negative spotlight has many of the staff, who rely on tips, extremely concerned and that there was even a bomb scare over the weekend.

The hotel did not respond to a request for comment, but last week issued a statement vowing that the “Dorchester Collection emphasizes equality, respect and integrity in all areas” and “strongly values people and cultural diversity amongst guests and employees.”

Source: Fox News World

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The Latest: Killer released, victim’s family express fears

The Latest on the release of Thomas Kokoraleis, who was convicted in a 1982 killing and is a reputed member of Chicago's murderous "Ripper Crew":

5:05 p.m.

Relatives of a Chicago woman killed by a reputed member of the notorious "Ripper Crew" gang say they will be looking over their shoulders for years now that he has been released from prison.

Thomas Kokoraleis killed 21-year-old Lorry Ann Borowski in 1982 and was freed Friday after serving 35 years.

Holding a photo of her daughter, Lorraine Borowski tearfully told reporters that Kokoraleis didn't receive the justice he deserved, but that she has no doubt God "will deliver the final judgment."

Kokoraleis was initially sentenced to life in prison, but prosecutors allowed him to plead guilty on appeal in exchange for a 70-year prison term. The plea deal allowed for his release this week.

___

7:50 a.m.

Authorities say a man convicted of murder as a suspected member of the notorious "Ripper Crew" that killed as many as 20 Chicago-area women in the 1980s has been released from prison.

An alert from Illinois' victim notification system was issued Friday saying 58-year-old Thomas Kokoraleis had been discharged from the Illinois Department of Corrections.

Kokoraleis was initially sentenced to life in prison for the 1982 slaying of 21-year-old Lorraine "Lorry" Ann Borowski.

But prosecutors allowed him to plead guilty on appeal in exchange for a 70-year prison term. The deal allowed for his release this week.

Relatives of some victims were infuriated in 2017 when they learned of Kokoraleis' expected release and delayed his initial parole date.

Records show Kokoraleis was held at the Illinois River Correctional Center in Canton, about 30 miles (48 kilometers) west of Peoria.

Source: Fox News National

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White House says pardons for Trump associates not discussed

FILE PHOTO: U.S. President Donald Trump speaks to reporters as he returns to the White House in Washington
FILE PHOTO: U.S. President Donald Trump speaks to reporters as the president returns from a weekend in Florida at the White House in Washington, U.S., March 24, 2019. REUTERS/Carlos Barria

March 25, 2019

WASHINGTON (Reuters) – There have been no conversations about President Donald Trump issuing pardons for any of his associates who have been charged or pleaded guilty as part of the U.S. Special Counsel Robert Mueller’s Russia investigation, the White House said on Monday.

There has been “no discussion that I’m aware of” regarding pardons, White House spokeswoman Sarah Sanders told reporters. Fellow White House spokesman Hogan Gidley also told MSNBC in an interview that the White House has not had any conversations about such pardons.

Gidley said he did not know whether any lawyers for Trump’s associates had approached the White House counsel about pardons.

Mueller’s team finished up work on Friday and submitted its findings to U.S. Attorney General William Barr, who issued a four-page summary on Sunday. Barr said the Special Counsel’s Office had found no evidence of criminal collusion between Trump’s campaign and Russia in the 2016 election but had left open the issue of whether Trump had tried to obstruct justice.

Still, Mueller’s investigation led to charges and guilty pleas against dozens of people, including a series of Russian nationals and companies as well as several top Trump advisers, such as former campaign chairman Paul Manafort, former White House national security adviser Michael Flynn and former adviser Roger Stone.

“We have a very rigorous process that relates to pardons,” Gidley told MSNBC.

(Reporting by Makini Brice and Susan Heavey; Editing by Bill Trott)

Source: OANN

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Democrat Oversight Will be Weaker Than You Think

House Democrats are finding out how difficult it is to provide Congressional oversight.

Axios reported the White House has figured out there’s not much Democrats can do if the administration continues to say no to everything. The administration has blocked several key administration officials from appearing before the House Oversight Committee.

The Washington Post reported the latest example is the administration’s refusal to allow senior adviser Stephen Miller to testify regarding immigration policy.

Meanwhile, Axios noted that any of those who have actually been subpoenaed by the committee could be held in contempt if they do not appear. But it said the subpoenas are difficult to enforce. And the website said recent contempt cases have “fizzled,

Axios also pointed out President Donald Trump and the Trump Organization have filed suit against Oversight Committee chairman Elijah Cummings, D-Md., to block a subpoena for the president’s financial records.

But it said that strategy could have a downside, the website said.

"It totally undercuts the argument that we've been transparent and because there was no criminal wrongdoing that's why we encouraged everyone to cooperate," said a former senior White House official. "Now we look like we've got something to hide and we're not being open and transparent."

Still, the Trump White House is unlikely to face any consequences in the short-term, Axios said.

But one Democratic aide said there are ways of getting past the White House efforts.

“One trend we've been seeing more and more, and a way we can get new information, is from whistleblowers,” the aide said.

Source: NewsMax Politics

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Obama Presidential Center Won't Have Library

Former President Barack Obama’s official presidential center will include a museum, an event space, a recording studio, and an athletic center, but no research library, The New York Times reports.

“Presidential libraries have opened windows onto how our democracy worked — or failed — at the highest levels,” said Princeton historian Julian E. Zelizer.

The Obama Presidential Center is planned as a “working center for citizenship,” with four buildings spread across 19 acres in Chicago. It will include a museum that will be run by his Obama Foundation, which also will pay to digitize about 30 million pages of unclassified documents from his presidency, rather than making them physically available in the library.

The former head of the Nixon library, Timothy Naftali, said that letting Obama’s foundation run the presidential museum is “a huge mistake,” adding, “it was astounding to me that a good presidency would do this.”

“It opens the door to a truly terrible Trump library,” he said.

“They are creating a fog and confusing the public and the broader historical community about what this thing actually is,” said Bob Clark, the former director of the Franklin D. Roosevelt Presidential Library and Museum.

However, Anthony Clark, who wrote a recent book about presidential libraries, hailed the decision. He told the Times that now the National Archives “will not be saddled, as it is at the federal presidential libraries of Mr. Obama’s 13 immediate predecessors, with the expense and embarrassment of hosting troublingly politicized exhibits, speakers, events and educational programs.”

Source: NewsMax Politics

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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.

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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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