Upcoming shows
Real News

NOW ON AIR
Now On Air

Real News with David Knight

9:00 am 12:00 pm



Maga First News

Upcoming Shows

Join The MAGA Network on Discord

0 0

Rep. Katherine Clark: Dems Serious on Mueller Report Deadline

Lawmakers must get special counsel Robert Mueller's full report, and subpoenas must be authorized before Attorney General William Barr turns over his redacted version of it, Rep. Katherine Clark, vice-chair of the House Democratic Caucus, said Monday while responding to news that House Judiciary Committee Chairman Jerry Nadler plans to subpoena the document.

"The way to do it is to be very clear with Attorney General Barr that we're not going to just rely on the Barr report, but we need to see the underlying evidence and the full report from Mr. Mueller," the Massachusetts Democrat told CNN's "New Day. "I think the clear message that the Judiciary Committee is sending is that we're serious about an April 2nd deadline."

There have been concerns that the report could contain grand jury material, but Clark noted that in the past, such items have been waived in the past to allow members of the Judiciary Committee to see it.

"We are able to negotiate keeping classified information, grand jury information, if necessary, out of the public realm," said Clark.

She also commented on President Donald Trump's threat to shut down the Mexican border, calling it another example of a failed policy and priorities.

"This entire presidency is built on the lie that migrant families are the greatest threat to our national security and that Mexico will pay for a wall to keep them out and that will protect American families and our economy," said Clark. "That's the fundamental misrepresentation of this presidency."

Source: NewsMax Politics

0 0

Bill de Blasio, pitching $10B climate change plan, blames global warming for Hurricane Sandy

In a video posted to social media on Monday, New York City Mayor Bill de Blasio again directly blamed climate change for 2012's deady Superstorm Sandy -- a contention that lacks scientific support - and touted his plan to spend $10 billion to fortify and "protect Lower Manhattan" against future storms.

Even as local leaders warned that de Blasio's plan to construct new barriers would actually destroy the waterfront neighborhoods he says he wants to protect, de Blasio insisted his views were now mainstream among New Yorkers.

"After Sandy, there weren't a lot of climate change deniers left in New York City," de Blasio said directly into the camera, after reminding viewers that the storm left dozens dead and cost the city billions in economic losses. "We need to protect this city and this country, and this world, from global warming. There's no national policy to do it right now. ... We have to do it ourselves."

Mayor de Blasio added in the video, which appeared on Facebook and Twitter, that the federal government also must act quickly: "We have to fight for the bigger changes, like the Green New Deal," de Blasio said.

The mayor claimed that studies undertaken by his office and others has determined that if the city does not prepare for climate change, rising seas will expose 20 percent of lower Manhattan to daily flooding by 2100.

However, past expert predictions on the effects of global warming have proven inaccurate at best. For example, United Nations scientists predicted that the world had only 10 years to immediately address climate change all the way back in 1989, in order to protect entire cities from destruction and a resulting flood of eco-refugees. A NASA scientist falsely predicted the same thing in 2006.

FILE - In this Aug. 28, 2011 file photo, a bicyclist makes his way past a stranded taxi on a flooded New York City street as Tropical Storm Irene passes through the city.  (AP Photo/Peter Morgan, File)

FILE - In this Aug. 28, 2011 file photo, a bicyclist makes his way past a stranded taxi on a flooded New York City street as Tropical Storm Irene passes through the city.  (AP Photo/Peter Morgan, File)

Contrary to de Blasio's assertions, no study has defintively linked the existence or power of Superstorm Sandy to man-made climate change, or made the claim that such a link can be definitively established at all. Some contested studies have, however, suggested the storm may have become more intense to some degree as a result of warming sea temperatures.

"We suggest that it is more useful to regard the extreme circulation regime or weather event as being largely unaffected by climate change, and question whether known changes in the climate system's thermodynamic state affected the impact of the particular event," stated one paper produced by researchers at the National Center for Atmospheric Research.

GREENPEACE CO-FOUNDER TEARS INTO OCASIO-CORTEZ: 'POMPOUS LITTLE TWIT'

The researchers added: "Some examples briefly illustrated include 'snowmaggedon' in February 2010, Superstorm Sandy in October 2012 and supertyphoon Haiyan in November 2013, and, in more detail, the Boulder floods of September 2013, all of which were influenced by high sea surface temperatures that had a discernible human component."

The Green New Deal backed by de Blasio has not attracted universal support even among Democrats, after the resolution's botched rollout in Congress earlier this year included the release of an official document by New York Rep. Alexandria Ocasio-Cortez's office that promised economic security even for those "unwilling to work," as well as the elimination of "farting cows" and air travel.

"We have to fight for the bigger changes, like the Green New Deal."

— New York City Mayor Bill de Blasio

The Democratic mayor on Thursday first announced his plan to meet the "existential threat" of climate change, specifically by extending a section of the lower Manhattan coastline as much as 500 feet into the East River. He said the $10 billion effort to protect lower Manhattan from flooding by extending the shoreline between the Brooklyn Bridge and the Battery will be funded partly by private development if federal funds are not available.

WHAT DOES TRUMP ADMIN'S OWN CLIMATE CHANGE REPORT SAY IS COMING?

"If there's federal money in play, it probably looks one way," de Blasio said last week. "If there's not federal money in play, we have to get some private money into it and there has to be some development."

Officials have been developing schemes to fortify New York City's waterfront since Superstorm Sandy destroyed thousands of homes and businesses in 2012.

De Blasio said it will cost about $500 million to fortify most of lower Manhattan from future effects of climate change, including rising sea levels and intense precipitation, with grassy berms and removable barriers.

But planners determined that protecting the lowest-lying area, including South Street Seaport and the financial district, will require adding more land over several years.

FILE - In this Oct. 19, 2017 file photo, a boat crosses New York Harbor in front of the Manhattan skyline. Mayor Bill de Blasio is announcing a plan to protect lower Manhattan from rising sea levels by surrounding it with earthen berms and extending its shoreline by as much as 500 feet. (AP Photo/Mark Lennihan, File)

FILE - In this Oct. 19, 2017 file photo, a boat crosses New York Harbor in front of the Manhattan skyline. Mayor Bill de Blasio is announcing a plan to protect lower Manhattan from rising sea levels by surrounding it with earthen berms and extending its shoreline by as much as 500 feet. (AP Photo/Mark Lennihan, File)

De Blasio, who is contemplating joining the crowded field of 2020 Democratic presidential candidates, said the $10 billion landfill project should be supported by federal funds, but that's unlikely to happen during the administration of Republican President Donald Trump.

"Lower Manhattan is one of the core centers of the American economy," he said. "It's where the financial capital of the United States is. The security of lower Manhattan should be a national priority. The fact is it is not. And it's incomprehensible to me that there's no sense of urgency from the federal government."

He added, "We can't afford to bury our head in the sand and that's right now what our federal government is doing."

The plan to extend the coastline will go through the city's environmental review process, de Blasio said, but he hopes to avoid "the endless dragging on that usually accompanies something of this scale."

CLICK TO GET THE FOX NEWS APP

But the prospect of private development on the newly built land is sure to meet resistance from downtown Manhattan community members.

City Council member Margaret Chin, who represents the area, said a more resilient future "cannot be paid for by private real estate development that would destroy the waterfront neighborhoods that we are trying to protect."

De Blasio announced the climate resilience plan at a news conference after previewing it in New York magazine .

"This is the existential threat," de Blasio said. "This is the core issue we all must face as aggressively as humanly possible."

The Associated Press contributed to this report.

Source: Fox News Politics

0 0

Egyptian cease-fire mediators shuttle between Israel, Gaza

Egyptian mediators are heading to Israel to discuss a potential cease-fire plan with Hamas to end hostilities in the Gaza Strip that began earlier this week.

Three Hamas officials familiar with the negotiations said Thursday that the Egyptians offered Hamas a series of measures to ease the Egyptian-Israeli blockade on Gaza. In exchange, Hamas would have to pledge to halt rocket fire and keep protests along the Israeli border under control.

The officials say the deal would only take effect after a planned mass demonstration along the Israeli border. They spoke on condition of anonymity because the negotiations were ongoing. One of the officials described the atmosphere as positive.

Another official said the Egyptians were discussing the proposal with Israel on Thursday afternoon.

There was no immediate Israeli comment.

Source: Fox News World

0 0

British woman jailed in Dubai for calling ex-husband’s new wife a ‘horse’ on Facebook to be released

The British woman who faced up to two years in a Dubai prison for a disparaging Facebook post about her ex-husband’s new wife will be released, the group representing her said Thursday.

Laleh Shahravesh, 55, of London was arrested along with her teenage daughter at the airport in Dubai last month after visiting the United Arab Emirates for her ex-husband’s funeral.

The mother-of-one is expected to return home by next week after settling the case with an $820 fine, Detained in Dubai said in a statement.

BRITISH WOMAN FACES JAIL TIME IN DUBAI FOR ‘INSULTING’ POST ABOUT EX-HUSBAND’S NEW WIFE

Shahravesh and her ex-husband, Pedro, were married for 18 years and lived in Dubai for eight months while he worked for HSBC there. At some point, she and their 14-year-old daughter returned to London, with the understanding that he would join them at a later date after his work commitments ended.

Months later, however, the couple divorced and Pedro remained in Dubai.

The United Arab Emirates' cybercrime laws say that a person can be jailed or fined for making defamatory statements on social media. (istock)

The United Arab Emirates' cybercrime laws say that a person can be jailed or fined for making defamatory statements on social media. (istock)

Shahravesh apparently discovered her ex-husband was remarrying when she saw posts of the new couple on Facebook.

She posted two comments in Farsi, including one that said: “I hope you go under the ground you idiot. Damn you. You left me for this horse.”

The second comment said: “You married a horse you idiot.”

Shahravesh’s ex-husband’s widow, who is Tunisian and lives in Dubai, reported the comments to authorities.

Under UAE cybercrime laws, a person can be jailed or fined for making defamatory statements on social media.

CLICK HERE TO GET THE FOX NEWS APP

Detained in Dubai chief executive, Radha Stirling, said they are working to get Shahravesh back her passport so that she can travel back to London early next week. She described the fine her client had to pay as “symbolic,” adding that the UAE’s cyber laws were “a loaded gun pointed at the head of anyone using the internet.”

“Anyone exercising their freedom of speech, who lives in, visits, or indeed, who may ever step foot in the UAE is at risk,” she said. “Laws are supposed to protect people, protect their rights and freedoms; but the UAE’s Cybercrime laws do the opposite. Everyone traveling to or through the UAE is endangered by them and not everyone who falls victim to these laws is guaranteed media coverage.”

Source: Fox News World

0 0

Texans Living Over 70 Miles North of Border Terrorized by Illegals, Cartels

Americans living roughly 75 miles north of the Mexican border are being terrorized by foreign gang members and illegal aliens, according to a resident of Encino, Texas, who says a border wall is needed to protect U.S. citizens.

A woman identified only as “Soila” told NBC affiliate KVEO that “hundreds” of illegal aliens pass through her neighborhood on any given day, while Mexican cartel members threaten her family and friends — and even attempt to invade her property.

“We no longer can go out without a gun; you can’t go for a walk,” Soila said. “My neighbor and his daughter were chased by men with masks. She was riding her 4-wheeler down 281 — they saw her and they jumped the fence and started chasing her.”

“Huge groups — and we’re not talking 10 or 15, we’re talking about 40, 70 — and the last few months it’s getting worse. They really need to go after the coyotes because we have seen so many abandoned families, women with children just left out there. These people are not educated — they don’t know east or west, they don’t know where the sun rises and sets. You ask them, ‘Have you ever seen a map of Texas?’ They don’t even know how big Texas is.”

Soila tells of multiple confrontations between her husband and gang members who use intimidation to silence and control opposition, adding that her neighbors are scared to call Border Patrol due to threats.

“12 young men dressed in black — my husband automatically stops, and they just put a finger to their lips and it’s like, ‘You better not say anything,’” Soila said. “They know what we drive, they know where we live.”

“There was a young man, [my husband] kept telling him to stop right at the gate, but he kept coming. My husband cocked the gun, and right on his left-hand side, 12-15 more pop out. They were trying to get in towards the house.”

Soila says a border wall is desperately needed, and that those who oppose it are foolish or protecting their short-term financial interests.

“Whoever tells you there is no danger out here and we don’t need the wall, they have no idea what they’re talking about,” she said. “They don’t care as long as the businesses keep thriving in McAllen or Brownsville.”



In this exclusive video, border patrol vans are seen pulling up to a Catholic respite center near McAllen, Texas, where a worker then warns that shooting video endangers the illegal aliens in the vans because they could be recognized and extorted by human traffickers or anybody they “borrowed money from.”

Dan Lyman:

Source: InfoWars

0 0

Mondelez in advanced talks for Campbell’s international business: Bloomberg

FILE PHOTO: A man looks at two paintings 'Coloured Campbell's soup can' by late U.S. artist Andy Warhol the Art Unlimited of the Art Basel art fair in Basel
FILE PHOTO: A man looks at two paintings 'Coloured Campbell's soup can' from 1965 by late U.S. artist Andy Warhol (1928-1987) the Art Unlimited of the Art Basel art fair in Basel June 16, 2011. REUTERS/Arnd Wiegmann/File Photo

March 29, 2019

(Reuters) – Oreo cookies maker Mondelez International Inc is in advanced talks to buy international brands being sold by U.S. food company Campbell Soup Co, Bloomberg reported late on Thursday.

Mondelez is negotiating final terms of a purchase of the business, which includes Australian cookie brand Arnott’s and Danish baked snacks maker Kelsen Group, the report said, citing people familiar with the matter.

The parties have been discussing a price of around $2.5 billion for the assets, the report said.

Campbell and Mondelez did not immediately respond to a request for comment.

Italian confectioner Ferrero and a consortium comprising private equity firms KKR & Co and Bain Capital were among the bidders for Campbell’s international business.

Campbell Soup said in August it would make preparations to divest its international portfolio and its “fresh” business, after being pressured by investors to boost its profitability and stock performance.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Arun Koyyur)

Source: OANN

0 0

U.S. senators propose more aid, international sanctions for Venezuela

FILE PHOTO - Venezuelan opposition leader Juan Guaido, who many nations have recognized as the country's rightful interim ruler, talks to the media during a news conference in Caracas
FILE PHOTO - Venezuelan opposition leader Juan Guaido, who many nations have recognized as the country's rightful interim ruler, talks to the media during a news conference in Caracas, Venezuela April 2, 2019. REUTERS/Manaure Quintero

April 3, 2019

By Patricia Zengerle

WASHINGTON (Reuters) – Keeping up pressure for political change in Venezuela, 15 U.S. senators introduced sweeping bipartisan legislation on Wednesday to provide $400 million in new aid, internationalize sanctions and ease penalties on officials who recognize a new government in Caracas.

The Republicans and Democrats introduced the Venezuelan Emergency Relief, Democracy Assistance and Development (Verdad) Act more than two months after President Donald Trump’s administration recognized opposition leader Juan Guiado as the country’s legitimate leader, pushing for the departure of President Nicolas Maduro.

Senator Bob Menendez, ranking Democrat on the Foreign Relations Committee and a lead sponsor, said the act should “put teeth behind” support for the Venezuelan people and provide tools for a “substantive and peaceful” strategy.

“This legislation will offer needed humanitarian assistance and support for Venezuela’s long path to democratic order,” said Republican Senator Marco Rubio, another lead sponsor, who has worked closely with Trump on Venezuela.

The act would also revoke visas for relatives of Venezuelans sanctioned in connection with corruption or human rights abuse, remove sanctions on those not involved in human rights abuses if they recognize Guiado and require work with Latin American and European governments to implement their own sanctions.

It also requires U.S. agencies to lead efforts to recover “corrupt financial holdings” of Venezuelan officials and accelerate planning with international financial institutions on Venezuela’s economic restructuring.

The bill does not address temporary protected immigration status, or TPS, which would allow 70,000 Venezuelans already in the United States to remain. TPS proposals have faced some opposition in the Trump administration, which takes a hard line on immigration.

Menendez said on a conference call with reporters that he hoped separate legislation seeking TPS for Venezuelans could move concurrently with the Verdad Act.

He also said he thought the bill stood an excellent chance of moving ahead in the Senate, given its bipartisan support.

The bill’s sponsors included eight Republicans – Rubio, Ted Cruz, John Cornyn, Todd Young, Lindsey Graham, John Barrasso, Bill Cassidy and Josh Hawley – and seven Democrats – Menendez, Dick Durbin, Ben Cardin, Tim Kaine, Jeanne Shaheen, Michael Bennet and Chris Coons.

That level of bipartisan support is not typical of major legislation in the current, fiercely partisan, Congress.

“I think we have very good prospects here,” Menendez said.

(Reporting by Patricia Zengerle; Editing by Steve Orlofsky)

Source: OANN

NOW ON AIR
Now On Air

Real News with David Knight

9:00 am 12:00 pm



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

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
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

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
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

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!

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

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
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

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
Current track

Title

Artist