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Melting missiles: just one problem with F-35s stopping North Korea rockets

FILE PHOTO: A Lockheed Martin F-35 aircraft is seen at the ILA Air Show in Berlin
FILE PHOTO: A Lockheed Martin F-35 aircraft is seen at the ILA Air Show in Berlin, Germany, April 25, 2018. REUTERS/Axel Schmidt -/File Photo

February 27, 2019

By Mike Stone

WASHINGTON (Reuters) – Looking for a quick way to stop North Korean missiles immediately after lift-off, the Pentagon is studying as a near-term option whether a group of F-35 fighter jets hovering around North Korean airspace could pick off freshly-launched rockets.

In its current form, the idea defies physics, missile defense experts say. It calls for interceptor missiles that fly so fast they could melt one expert said, and the only surefire way for U.S. military aircraft to defeat a missile with current technology would be to fly in hostile airspace, according to three experts interviewed by Reuters.

The idea, part of a six-month study launched last month, shows how the Pentagon is seeking ways to neutralize the threat posed by Pyongyang even as President Trump meets North Korean leader Kim Jong Un this week in Vietnam in his effort to stop Kim’s nuclear program.

Concern over U.S. missile defenses has grown with the escalating threat from North Korea. Two years ago North Korea conducted about a dozen missile tests, some with multiple rockets, including the launch of a suspected inter-continental ballistic missile that could hit the U.S. mainland. They also tested a purported hydrogen bomb.

The F-35 plan under study would likely involve continuously flying a group of the stealthy jets within range of known North Korean missile sites. Once a missile is launched towards U.S. territory, the F-35’s advanced sensors would detect and then fire a special air-to-air missile before the Pyongyang projectile exits the atmosphere, the latest missile defense strategy and Pentagon leadership have said.

Military officials say the F-35 option is the one they want to test first because it could use existing military hardware and potentially be operational sooner than other strategies, and at a relatively low cost. At the same time Pentagon leadership says the tests may reveal a new interceptor is needed, or that the F-35 may only have a role in detecting the just-launched missile and not necessarily also shoot it down.

Speaking about that option after last month’s release of the defense strategy review, Under Secretary of Defense for Research and Engineering Michael Griffin said: “we do think it could be both cost effective and … within the bounds of math and physics.”

Among other proposals included in the review was one involving lasers mounted on drones – proposed to stop missiles just after take-off in what is called the boost phase.

During this portion of the flight the missile is most vulnerable, flying at its slowest speed, easily detected by the heat from its engines, and incapable of evading interceptors as it accelerates to break out of the earth’s atmosphere.

MELTING MISSILES

Geography complicates the F-35 plan. Tom Karako, a missile defense expert at the Center for Strategic and International Studies in Washington noted that jets lying in wait for a North Korean missile would in theory need to respect North Korean airspace. But remaining at such a distance could leave the jets too far from the missile launch to be effective.

Theodore Postol, a missile defense expert at the Massachusetts Institute of Technology said even a modified air-to-air missile would be too slow to take out an intercontinental ballistic missile before it exited the atmosphere.

Air-to-air missiles like those made by Raytheon Co would only have an estimated 200 seconds to hit a ballistic missile before reaching an altitude where the air is too thin to maneuver. Given that it would take an F-35 approximately 50-60 seconds to detect, lock onto and launch an air-to-air missile, Postol said, the jet would need to be very close to the ballistic missile to take it out.

“If you are on top of it you can shoot it down,” the retired rocket scientist said. “But the odds are going to be very low that you can be on top of it.”

Even if a much faster and lighter version air-to-air missile was mounted in an F-35 jet, depending on the distance the weapon would have to fly so fast it would begin to melt, Postol added.

Despite the obstacles, the very fact that Pentagon was weighing such an option was significant, Karako said. “This shows a broader cultural shift.” Rather than some giant program, Karako said, the Pentagon is considering “a mission that is integrated into a broader mesh of tactical programs the Department of Defense can call on.”

Making it work will be a challenge, though.

“You would need to be very close to the launch site, within North Korea itself, said physicist Laura Grego, who studies missile defense at the Union of Concerned Scientists.

Grego said that even if the air-to-air missile traveled at five times the speed of sound, the F-35 would need to be within about 50 miles of the missile, “probably closer, to be realistic.”

That gives a huge advantage to the stealthy F-35 which could get much closer to a possible launch area than a non-stealth aircraft.

“This is one of the advantages of the F-35,” said retired U.S. general David Deptula. He added that the radar-evading jets “can get in much closer to an adversary launch area than … a non-stealthy aircraft.”

That suggests that by using the F-35 made by Lockheed Martin, the U.S. could secretly monitor for ballistic missile launches with jets flying inside North Korean airspace.

(Reporting by Mike Stone; Editing by Chris Sanders and Tomasz Janowski)

Source: OANN

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Daytona 500 sees massive crash started by Paul Menard

“The Big One” happened Sunday at “The Great American Race” — and it was gigantic. A crash involving 18 cars during the 61st running of the Daytona 500.

Paul Menard triggered the multi-car wreck shortly after a restart with 10 laps to go.

Menard turned Matt DiBenedetto, who slammed into the wall and started a chain-reaction that collected nearly 20 cars. It brought out a red flag that stopped the race during the cleanup.

Menard took responsibility for “The Big One” — NASCAR slang describing any crash usually involving five or more cars: “I’ll take the blame for that one.”

Defending Daytona 500 champion Austin Dillon, Chase Elliott, Ryan Blaney, Aric Almirola and Daniel Suarez were among those involved in the mess.

Almirola seemingly had the wildest ride, his back wheels getting lifted off the pavement and landing on David Ragan’s windshield.

The Associated Press contributed to this report.

Frank Miles is a reporter and editor covering geopolitics, military, crime, technology and sports for FoxNews.com. His email is Frank.Miles@foxnews.com.

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High-capacity gun magazines to remain legal in California, judge rules

High-capacity gun magazines will remain legal in California under a ruling Friday by a federal judge who cited a home invasion where a woman used the extra bullets in her weapon to kill an attacker and two other cases women without additional ammunition ran out of bullets.

"Individual liberty and freedom are not outmoded concepts," San Diego-based U.S. District Judge Roger Benitez wrote. He called the law that would have banned possessing any magazines holding more than 10 bullets unconstitutional.

California law has prohibited buying or selling such magazines since 2000, but those who had them before were allowed to keep them.

In 2016, the Legislature and voters approved a law removing that provision. The California arm of the National Rifle Association sued and Benitez sided with the group's argument that banning the magazines infringes on the Second Amendment right to bear arms.

Benitez had temporarily blocked the law from taking effect with a 2017 ruling.

DICK'S SPORTING GOODS REPORTS $150 MILLION IN LOST SALES AFTER HALTING ASSAULT-WEAPONS SALES

Chuck Michel, an attorney for the NRA and the California Rifle & Pistol Association, said the judge's latest ruling may go much farther by striking down the entire ban, allowing individuals to legally acquire high-capacity magazines for the first time in nearly two decades.

"We're still digesting the opinion but it appears to us that he struck down both the latest ban on possessing by those who are grandfathered in, but also said that everyone has a right to acquire one," Michel said.

Attorney General Xavier Becerra said in a statement that his office is "committed to defending California's common sense gun laws" and is reviewing the decision and evaluating its next steps.

The goal of the California law is to deter mass-shootings, with Becerra previously listing as an example the terrorist assault that killed 14 and injured 22 in San Bernardino.

Benitez, an appointee of Republican President George W. Bush, called such shootings "exceedingly rare" while emphasizing the everyday robberies, rapes and murders he said might be countered with firearms.

The Giffords Law Center to Prevent Gun Violence, named after a former congresswoman who survived a mass shooting, is also still evaluating whether the decision applies more broadly, said staff attorney Ari Freilich.

But Freilich predicted the "extreme outlier decision" will be overturned on appeal and criticized a judge "so deeply out of touch that he believes mass shootings are a 'very small' problem in this country."

Becerra previously said similar Second Amendment challenges have been repeatedly rejected by other courts, with at least seven other states and 11 local governments already restricting the possession or sale of large-capacity magazines. The conflicting decisions may ultimately be sorted out by the U.S. Supreme Court.

Benitez ruled that magazines holding more than 10 rounds are "arms" under the U.S. Constitution, and that the California law "burdens the core of the Second Amendment by criminalizing the acquisition and possession of these magazines that are commonly held by law-abiding citizens for defense of self, home, and state."

Benitez described three home invasions, two of which ended with the female victims running out of bullets.

PROFESSIONAL SHOOTER USES 'GUN THERAPY' TO LESSEN SYMPTOMS OF PARKINSON'S DISEASE

In the third case, the pajama-clad woman with a high-capacity magazine took on three armed intruders, firing at them while simultaneously calling for help on her phone.

"She had no place to carry an extra magazine and no way to reload because her left hand held the phone with which she was still trying to call 911," the judge wrote, saying she killed one attacker while two escaped.

The magazine ban was included in 2016 legislation that voters strengthened with their approval of Proposition 63, which was championed by then-Lt. Gov. Gavin Newsom.

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In a statement, Newsom criticized the judge's ruling.

"This District Court Judge's failure to uphold a ban on high-capacity magazines is indefensible, dangerous for our communities and contradicts well-established case law," the governor said. "I strongly disagree with the court's assessment that 'the problem of mass shootings is very small.' Our commitment to public safety and defending common sense gun safety laws remains steadfast."

Source: Fox News National

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Gillibrand in 2020 Democratic Race as Full-Fledged Candidate

New York Sen. Kirsten Gillibrand formally joined the 2020 White House race on Sunday and previewed the hard line she will take against President Donald Trump by announcing a rally outside one of his signature Manhattan properties.

She had spent more than a month traveling around the country to gauge support for a run.

Her announcement that she was joining the dozen-plus candidates who want to challenge Trump came in a nearly three-minute video produced by her campaign and released early in the morning. She says the national anthem poses this question: "Will brave win?"

"Well, it hasn't always, and it isn't right now," she says. "Brave doesn't pit people against each other. Brave doesn't put money over lives. Brave doesn't spread hate. Cloud truth. Build a wall. That's what fear does."

In the video, Gillibrand says that the country needs a leader who "makes bold, brave choices" and "someone who isn't afraid of progress. That's why I'm running for president."

She said her debut speech as a candidate will come next Sunday in front of the Trump International Hotel & Tower in New York.

Gillibrand has been one of the most forceful critics of the Trump administration. Using the backdrop of one of Trump's marquee properties is a clear challenge to the president.

She announced her exploratory committee in January in an appearance on "The Late Show with Stephen Colbert." Since then, she has visited a number of states to assess political support for a White House bid.

This coming week she plans to campaign in Michigan, Iowa and Nevada, leading up to her New York kickoff.

Gillibrand has been a vocal advocate for electing more women to office, as well as combating sexual assault and violence in politics and the military.

Source: NewsMax Politics

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California man tries to impress girlfriend, gets sand in the face

It’s love on the rocks.

A love-struck California man was forced to call police in the wee small hours of Sunday morning after he got his car stuck on a pristine beach in Carmel in a valent attempt to impress his girlfriend.

The Carmel-by-the-Sea Police Department responded at about 3 a.m.

If love’s a crime, the driver is guilty, but he was also cited for driving on the beach. It was apparently a marathon date: the car was stuck there for seven hours.

A police officer posted a photo of the white car on the department’s Facebook account. “What not to do: Drive car on beach to impress girlfriend. Driver was cited for driving on the beach and we're still working on getting his vehicle out!" the post read.

It was unclear if the woman stuck around. One person posted on Facebook that the girlfriend left at some point and asked, "Was it worth it?"

The incident cost the man a few dollars because the standard tow truck could not reach the car and they had to bring in a tractor, cops said.

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"This poor guy, he's a nice kid. He just made a bad decision and it cost him some money and a lot of time," Rachelle Lightfoot, told SFGate.

Source: Fox News National

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Border Patrol: 2019 Migrant Numbers Have Surpassed All of 2018

In the fiscal year of 2019, Customs and Border Patrol (CBP) has already apprehended more migrants attempting to illegally enter the United States than the entirety of FY2018 – with over five months still to go.

The agency made the announcement on social media, revealing that last year’s totals were surpassed last week, with the vast majority of captures occurring at the southern border.

“As of last week, Border Patrol apprehensions for FY19TD (418,000+) surpassed total apprehensions for FY18 (404,142),” CBP tweeted.

“Along the Southwest border, there have been 414,000+ apprehensions so far this year, compared to 396,579 total in FY18.”

Additionally, CBP revealed that officers have rescued over 1,700 stranded migrants this year, including a 3-year-old child who was discovered abandoned in a field in Texas.

“In FY19TD, Border Patrol agents have already rescued more than 1,700 people,” CBP wrote. “With unforgiving heat on the horizon for much of the country, CBP will rescue thousands more before the end of the fiscal year.”

“Early this morning, USBP Agents found a 3-year-old boy alone and crying in a corn field in TX. He had his name & phone numbers written on his shoes. CBP is attempting to reach his family. We believe the boy was with a larger group that ran when they encountered Agents.”


Mark Morgan, who led Customs and Border Patrol under President Obama, recently warned the illegal migration catastrophe on the southern frontier is the worst in American history.

“This is a question that people really need to pay attention to: I am saying, based on 30 years of public service, that the crisis we face right now along the Southwest border is actually the worst we’ve ever experienced in our history — the worst,” Morgan said.

“We’re going to reach a million this year — that means we’re going to allow 650,000 into this country, much of which we don’t know who they are and we’ll never hear from them again.”



Owen Shroyer delivers an epic rant about the U.S. soldiers who were disrespected at the southern border in Clint, Texas, by members of the Mexican army.

Dan Lyman:

Source: InfoWars

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The Latest: Illinois couple charged in young son’s death

The Latest on the search for a missing 5-year-old Illinois boy (all times local):

3 p.m.

Police say the body of a 5-year-old Illinois boy whose parents reported him missing last week was found buried in a shallow grave and wrapped in plastic in a rural area a few miles from the family's home.

Crystal Lake police Chief James Black said during a news conference that investigators found what they believe to be the remains of Andrew "AJ" Freund early Wednesday in the neighboring city of Woodstock. Efforts are underway to confirm it is AJ's body.

He says they were led to the body after interviewing AJ's parents overnight and presenting them with cellphone evidence.

The parents, Andrew Freund Sr. and JoAnn Cunningham, each face five counts of first-degree murder and other charges.

Authorities say they reported him missing last Thursday and told officers they last saw him at bedtime the night before.

___

2 p.m.

Authorities say they have found what they believe is the body of a 5-year-old Illinois boy who went missing last week, and that his parents have been charged with murder in his death.

Crystal Lake police Chief James Black said at a news conference Wednesday that police dug up what they believe is Andrew "AJ" Freund's body in a field and that it was wrapped in plastic.

He says AJ's parents, Andrew Freund Sr. and JoAnn Cunningham, face murder and other charges in the boy's death.

Authorities say the boys' parents reported him missing last Thursday and told officers they last saw him at bedtime the night before.

___

12:30 p.m.

Officers have removed several items from the home of an Illinois couple whose 5-year-old son has been missing for nearly a week.

Photos and video show the officers leaving the Crystal Lake home of Andrew Freund Sr. and JoAnn Cunningham on Wednesday with a shovel, mattress, brown paper bags and plastic storage tub.

Searchers have been scouring the area for the couple's missing son, Andrew "AJ" Freund. Authorities say the boys' parents reported him missing last Thursday and told officers they last saw him at bedtime the night before.

Police say Cunningham has been refusing to cooperate with detectives. They say they don't believe the boy was abducted and that he didn't leave the home on foot. State child welfare officials have taken custody of the couple's 4-year-old son, Parker.

Authorities plan to give an update on the investigation at a 1 p.m. news conference.

___

9:25 a.m.

The FBI and police in the Chicago suburb of Crystal Lake are planning a news conference as they search for a 5-year-old boy who has been missing for nearly a week.

The Crystal Lake Police Department says the news conference will take place at noon on Wednesday at City Hall. The agencies have been searching for Andrew "AJ" Freund since his parents reported him missing last Thursday. The couple said they saw him at bedtime the night before and couldn't find him in the morning.

Police searched for AJ in a park on Tuesday and said they planned to use sonar to search ponds in the community, which is about 50 miles (80 kilometers) northwest of Chicago.

Authorities say they don't believe the boy was abducted or wandered away.

Source: Fox News National

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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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