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$9B less public debt service nothing to boast about – Jagdeo

first_imgGovernment paying $9 billion less in debt servicing is being touted as an achievement, but Opposition Leader Bharrat Jagdeo has said that achievement has nothing to do with good financial management, but is rather due to a change of arrangements which brought about that; and it really is nothing to boast about.Jagdeo told a recent press conference that if one were to look at the public debt report, one would see precisely how this achievement came about. “It happened largely because the PetroCaribe Agreement and the Guyana Rice Trade Agreement came to an end. So, in the last three years, we had a ballooning of principal payments because we retired those loans by clearing and writing off the promissory notes,” he explained.The Opposition Leader noted that the achievement didn’t result from prudent management on the part of the Government, but has been occasioned because the PetroCaribe arrangement is no longer available to Guyana. He has said that if Government is claiming that the country’s debt service is down by $9 billion, it means then that $9 billion more is available and can be used to pay public servants.“You can’t have it both ways; you can’t want to say that we reduce debt service by $9 billion in a single year, and then claim that there is no fiscal (space) to do wage increases…or to fund the budgets of the constitutional agencies; because you have $9 billion of additional fiscal space,” Jagdeo declared.He noted that the reason why Government can’t utilize this additional fiscal space is because it is just a ‘headline’ used to excite people and to say how well Guyana is doing economically. But if one were to look beyond that and take a closer look at the Auditor General’s (AG’s) Report, one would find far more interesting things.He pointed to Table One of the AG’s Report which he noted has revealed the coalition Government’s pattern of doing things. “The current revenue has increased from 2014 to 2016 by $31 billion more; they’re collecting — in 2016 — $31billion in taxes more than we were collecting in 2014. They’ve expended — in 2016 — $37.7 billion more than we did in 2014, and this is only the current expenditure, not on the capital,” he pointed out.Jagdeo said speaks of the pattern — that they are taxing more and collecting more from people.“…taking more out of their pockets; and they are spending more, $37.7billion more than we spent in 2014.” Touching on the Consolidated Fund, the Opposition Leader said the overdraft on the Consolidated Fund has increased from 2015 to 2016 alone by some $25 billion more in credit from the Consolidated Fund.“But that number — the overdraft on the Consolidated Fund — is not reflected as yet in the debt numbers, because that’s credit to the Government… So, assuming you have to finance this now, you have to issue another $25 billion of debt to finance the budget, because they overdrew the Consolidated Fund by $25 billion between 2015 and 2016; it’s an overdraft,” he argued.Jagdeo said it is therefore important not to look only at the growth in debt over 2016 when compared to 2015, because it overgrew by about 4.1 per cent more.“So we had an increase in overall debt and we had a significant increase in domestic debt, and we’ve had $25 billion overdraft on the Consolidated Fund in that single year. And this leaving out the extraordinary financing they brought in to finance the budgetary deficit,” he explainedThe Finance Ministry’s recent Public Debt Annual Report has highlighted that since 2015, there has been a 4.1 per cent rise in Guyana’s indebtedness to creditors. The report details that Guyana’s total debt, inclusive of external and domestic, increased to $330 billion as at December 2016.The Finance Ministry has attributed this to disbursements from the Export/Import Bank of China to the Cheddi Jagan International Airport (CJIA) expansion project, as well as sums of money received from multilateral creditors.A breakdown of the figures shows that total external debt amounted to $240 billion, a 72.6 per cent bite out of the total public debt. On the other hand, domestic debt stood at $90.6 billion, or 27.4 per cent of the total.The report noted that Guyana’s four main external creditors are the Inter-American Development Bank (IDB), the Caribbean Development Bank (CDB), the State-owned Export-Import Bank of China (China EXIM Bank) and Venezuela’s State-owned oil company (PDVSA).Together, they constitute some 77.7 per cent of Guyana’s public external debt stock as at end December 2016, with the IDB being the most dominant creditor.According to the report, the IDB has an average share of 42.0 per cent of the debt portfolio.The CDB is Guyana’s second largest creditor, accounting for 12.6 per cent of total public external debt. The Export-Import Bank of China follows closely behind the CDB with a 12.5 per cent share of external debt, while Venezuela’s PDVSA accounted for 10.6 per cent. Important to note is PDVSA has recently been declared to be in default of its debts by a trade group in the US.last_img read more

Deadline for photo scavenger hunt contest extended

first_imgThe contest is open to youths ages 10 -21 that are Fort St. John residents or students enrolled in SD60 (including those outside of Fort St. John city boundaries). Participants may register as an individual or in the group category.The winning photos will be showcased at the Fort St. John Visitor Centre and a grand prize will be award to the individual or team with the highest overall score.The deadline to submit photos is June 15, 2014 and registration packages, including full contest details can be found at the Fort St. John Visitor Centre. You can also download the packages on the city’s website, Advertisement -Winners will be notified by June 30 2014.last_img read more

Exclusive – Don’t blame Mertesacker! Arsenal’s tactics are the problem, claims McLintock

first_imgArsenal legend Frank McLintock has told talkSPORT Per Mertesacker is not the man to blame for the defensive troubles and instead feels the problem is with Arsene Wenger’s tactics.The Gunners have conceded 25 goals in the Premier League already this season with the German international looking particularly shaky and receiving plenty of criticism, despite his World Cup winning heroics in the summer.And given his pedigree, having excelled at Werder Bremen in the Bundesliga and on the international stage before a switch to the Emirates in 2011, McLintock believes French boss Wenger must work on the structure of his leaky backline.He told the Weekend Sports Breakfast: “Per Mertesacker has got more than 100 caps for Germany so he must be a blooming good player so maybe it’s the way Arsenal play as well.“Mertesacker hasn’t been good this year, definitely, and maybe that’s the affects of the World Cup but I also think the tactics are bad.”last_img read more


first_imgTHE excitement is already building to the County Championship Final this Sunday between Glenswilly and St Michael’s.It is the first time St Micheal’s has ever been in a county final. Jacsksonmediatv have put together this superb video preview ahead of the Raidio Na Gaeltachta-sponsored annual showpiece.The action gets underway this Sunday at Sean MacCumhaill Park in Ballybofey with a throw-in time of 4pmGAA: VIDEO OF BUILD-UP TO DONEGAL COUNTY CHAMPIONSHIP FINAL was last modified: September 28th, 2011 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Donegal GAAglenswillySt Michaelslast_img read more

Anti-war vigil in Uptown

first_img “Personally, I’m against the war,” Muse said. “This my first protest. I support the troops, but not the war.” Moore, whose group holds weekly vigils on Sunday afternoons at the same location, wanted to make clear the vigil’s purpose wasn’t only for the 2,000th soldier killed, but was for those affected by the war, including Iraqis. “There is no giving up on this,” Moore said. “When you look back and see the similarities during Vietnam, it’s really frightening. We don’t have the kind of reporting and information as we did then. We could actually see what was going on.” No counter-protesters attended the vigil to voice their opinions. — Pam Wight can be reached at (562) 698-0955, Ext. 3029, or by e-mail at local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! WHITTIER — Local anti-war activists joined thousands of sympathetic protesters across the country Wednesday night in a peace vigil marking 2,000 American soldiers killed in the war in Iraq. Organized by the Whittier Area Peace and Justice Coalition, the vigil attracted about 75 to 100 activists to the corner of Whittier and Painter boulevards, where they shouted slogans ranging from anti-war in nature to general denouncements of President Bush. Passing cars honked their support or opposition. Co-chair of the WAPJC, Teresa Moore, said peace groups were able to act quickly to organize more than 1,200 vigils nationwide because most had prepared in advance when the death toll neared 2,000. The Internet-based spurred the flurry of demonstrations by sending out a national call for action the day after the Pentagon’s announcement that military deaths in Iraq had passed 2,000. “The death toll is rising,” Moore said. “It took 18 months to hit 1,000 and 14 months to reach 2,000. The loss of life is increasing, but to listen to Bush, there’s no end in sight. Our point of view needs more mainstream coverage.” AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWalnut’s Malik Khouzam voted Southern California Boys Athlete of the Week Montebello resident Gloria Lopez, who learned of Wednesday’s protest through, said she came to Wednesday’s protest out of respect for the soldiers. “I’ve been against the war from the beginning,” Lopez said. “It breaks my heart every day to hear of these young kids, babies, dying. … I didn’t plan on doing anything tonight, but I always wanted to get involved and this was local.” Pico Rivera resident Thomas Cruz, 19, joined the Navy on a delayed-entry program in June while attending El Rancho High School. He said his vigil participation was to show support for all the soldiers who were killed. “I joined because I wasn’t doing anything at the time and I wanted to serve my country. I wanted to see the world,” Cruz said. “Just because you’re in the military doesn’t mean you have to want a war.” Whittier College freshman Michael Muse, 19, appeared at the vigil in order to fulfill a class assignment. last_img read more


first_imgFound them!JAMES McClean’s missing dogs have been found – in Killea!The Ireland international offered a reward last night after the dogs went missing in Derry.He had feared they were stolen. But it turns out they’d made their way out of the city….and heading for Donegal.The dogs were found thanks to McClean using his Twitter account to make an emotional plea for their return.Gerry Lennon and Tony Hegarty were able to given the former Derry City man the information he needed.McClean later publicly thanked the duo for their help….with the dogs found within two hours of his public appeal. “You have no idea how much I appreciate this,” said James in a tweet. SOCCER STAR McCLEAN’S MISSING DOGS FOUND IN KILLEA was last modified: June 18th, 2014 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:DerrydonegalJames McCleanKilleaMissing Dogslast_img read more

United out for revenge against Barcelona

first_img Tags: Ajaxbarcelonajuventusman Unitedtopuefa champions league Barcelona are leading the tie 1-0. (Agency Photos)Barcelona vs Man United (1-0 Agg)Estadio Camp Nou, BarcelonaTuesday, 16-04-2019 @10pmReferee: Felix Brych (German)Man United forward Alexis Sanchez and midfielder Nemanja Matic are both available for the tie after recovering from injuries. Sanchez, who played 141 times for Barca in a three-year spell, has been out for six weeks with a knee injury and Matic has missed the past three games. Matteo Darmian has also been included in the 22-man squad after injury but Ander Herrera and Eric Bailly are out.Barcelona have a host of players returning having missed the 0-0 draw away to Huesca on Saturday. Lionel Messi is fit to play, having suffered a facial injury in last Wednesday’s first leg following a clash with Chris Smalling. Ousman Dembele who missed the first leg through injury is also available having started the draw on the weekend.Barcelona have never lost a home match against Manchester United in European competition (W2 D2), with their last such meeting finishing 0-0 in April 2008. Of the 70 previous occasions a side has won a Champions League knockout tie first leg away from home, just four have been eliminated (6%). However, two of those instances have been in this season’s competition, including once by Manchester United. In their first-leg defeat, Manchester United failed to register a single shot on target for the first time in a Champions League game since March 2005 (0-1 against AC Milan).Barcelona have progressed from 39 of their 41 European ties in which they won the first leg away from home – the exceptions were against FC Koln in the 1980-81 UEFA Cup, and against Metz in the 1984-85 Cup Winners’ Cup. They are unbeaten in 30 Champions League home games, the longest such run of any club in the competition (W27 D3). They have also not conceded more than once in any of those 30 games (15 goals in total) since a 0-3 loss to Bayern Munich in the 2012-13 semi-finals. Barcelona’s Lionel Messi has scored 22 goals in 31 Champions League games against English opponents, more than any other player in the competition. A total of 13 of those strikes have come in his past nine appearances against English sides at the Nou Camp, including hat-tricks against Arsenal (April 2010) and Manchester City (October 2016). Barcelona striker Luis Suarez has had more shots without finding the net than any other player in the Champions League this season (33).Manchester United have progressed from one of their four previous European ties in which they lost the first leg at home, though it was in the last round against Paris St-Germain. A total of 90% of Manchester United’s Champions League goals this season have come away from home (nine out of 10). However, they have won just one of their past five away knockout stage games in the competition (D2 L2). United have lost 49 Champions League games – they could become the ninth different club to reach 50 defeats in the competition, and just the second English side (Arsenal, 53).Juventus vs Ajax (1-1 Agg)Allianz Stadium, TorinoTuesday, 16-04-2019 @10pmReferee: Clement Turpin (France)Ronaldo has scored in all five games against Ajax.Juventus duo of Emre Can and Giorgio Chiellini could return after missing the first leg through injury, although Martin Caceres and Mattia Perin are all ruled out. Juve will make a decision on Mario Mandzukic’s participation prior to the game after he picked up an injury. Douglas Costa may be fit enough for a place on the bench.Frenkie de Jong is a doubt after coming off injured in Saturday’s 6-2 win over Excelsior, with Hassane Bande and Carel Eiting both long term absentees.Juventus are unbeaten in their past 10 meetings with Ajax, the joint longest run for one side against another in European matches (also Bayern Munich v Benfica). After a run of seven defeats in eight games away against Italian opposition (D1), Ajax are unbeaten in their past four (W2 D2). Juventus are looking to reach the Champions League semi-finals for the third time in the past five seasons, also making the last four in 2014-15 and 2016-17. Ajax are looking to reach the semi-finals of the Champions League for the first time since 1996-97, while they could become the first Dutch side to do so since PSV in 2004-05. The reverse match was only the third time Juventus have drawn the first leg of a Champions League knockout match away from home – they progressed against Rosenborg in the 1996-97 quarter-final, and were eliminated by Manchester United in the 1998-99 semi-final. Ajax have been eliminated on two of the three previous occasions they have drawn the first leg of a Champions League knockout tie at home, most recently in the 2005-06 last 16 against Inter Milan. Juventus have lost two of their past five Champions League home games (W3), as many as they had in their previous 45 (W28 D15). Ajax have won their past two Champions League away games, last winning more consecutively in the competition between November 1995 and March 1997 (seven). Juventus forward Cristiano Ronaldo has scored in his past five Champions League games against Ajax, netting eight goals in total. The Portuguese has also scored 51% of his total goals in the competition in the knockout stages (64/125). Dusan Tadic has been directly involved in 53% of Ajax’s 17 Champions League goals this season (six goals, three assists). The last player to score more than the Serb for Ajax in a Champions League campaign was Jari Litmanen in 1995-96 (nine).Comments last_img read more

Lifeline Inishowen travel to Dail for funding petition plea

first_imgRepresentatives from the domestic abuse service, Lifeline Inishowen, are travelling to the Dail today to submit a petition to a cross-party delegation. The petition, which has over 2000 signatures, is a final attempt by the group for reinstating funding.The news comes as the service continues to financially struggle to keep its door, a struggle that has been ongoing over the previous nine years. We’re en route to the Dáil to demand funding for @LifelineDonegal. Come join us on Kildare Street at 1:15pm today. #Donegal #Inishowen #WakeUpTheGovernment— Inishowen Together (@Inish_Together) June 26, 2019The centre, which helped over 46 women last year with domestic violence cases, has not been sanctioned government funding since 2011 despite the efforts of the centre over the last four years.Officials from the Tulsa, the Irish family support service, insisted that Donegal Women’s Centre in Letterkenny is suitable to cover the entire county, leaving those in Inishowen as far as 65km from the centre.The group had hoped that a meeting with Children’s Minister Katherine Zappone could be arranged in an attempt to have funding sanctioned. Manager of the centre, Mary Doherty said: “Nothing has changed this year despite the ratification of the Istanbul convention, which is a legal instrument that focuses on combating violence against women and domestic violence.“More services like Lifeline Inishowen should be welcomed and supported in rural Donegal,” she added.“I do not understand why there cannot be sufficient national level coordination with Lifeline Inishowen, particularly since the outreach was created by the local community itself.”Lifeline Inishowen travel to Dail for funding petition plea was last modified: June 26th, 2019 by Shaun KeenanShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

This Week in Internet of Things: Intel’s $25M IoT Investment, French Intelligent Cities & More

first_imgTop Reasons to Go With Managed WordPress Hosting Why Tech Companies Need Simpler Terms of Servic… Tags:#Internet of Things#web Every Thursday evening PT we review Internet of Things developments from the past week. Internet of Things is a term for when everyday objects are connected to the Internet. It’s becoming an increasingly relevant trend for the Web and media, so we want to keep you updated with the latest news. Tune in every Thursday evening for our updates.This week’s stories include a big IoT investment by chip maker Intel, two French cities building smart cities, RunKeeper’s platform for exercise and health data, and more. Also we continue the countdown to the Internet address apocalypse!5 More Days Until the Internet Runs Out of IPv4 AddressesAs we noted last week, it’s getting down to the wire for IPv4 Internet addresses. It’s now down to 5 days, according to the Twitter account @ipv4countdown (data sourced from Hurricane Electric). This time next week, it’ll be Armageddon! Well… not really, the Internet will continue to run and most of us won’t notice any difference. For the technically inclined though, the age of IPv6 will have officially arrived. The adoption of IPv6 is a key technology in the Internet of Things, because every object connected to the Internet requires at least one IP address. There will be huge demand for Internet addresses and IPv6 is more than capable of handling that.Intel invests $25 Million in Internet of Things ResearchIntel announced this week that it will invest NT$750 million (US$25.8 million) in joint research with Taiwan’s top-ranked university, National Taiwan University. The research project, named Intel-NTU Connected Context Computing Center, will focus on Internet of Things. Specifically it will look at smart sensing, “green sensing” and context analysis.Vida Ilderem Burger, vice president and director of Intel’s integrated platforms research, said thatit’s Intel’s first such center and will probably eventually expand to China. This is significant, because as we noted last week China is well ahead of the U.S. on IoT implementation.The Quantified Self: RunKeeper Emphasizes IoT Platform Fitness-tracker RunKeeperannounced this week that its iPhone app will remain free, after formally being a paid app. Instead of making money from its apps directly, RunKeeper is going to focus on building a platform for exercise and health data. Other companies have already built RunKeeper integration into sensors, ranging from heart rate monitors to sleep monitors and bathroom scales. RunKeeper says it will launch a public API (Application Programming Interface) this year. Running coaches are already selling training programs on the RunKeeper site and power-users can pay for the RunKeeper Elite level of service. For more explanation and context, read Marshall Kirkpatrick’s analysis of RunKeeper.French Intelligent CitiesBruce Sterling, who runs the excellent Spime Watch on his Wired blog, pointed us to a report on “smart city” development in France. The telecoms company France Telecom Orange has been running two smart city pilot projects at Cagne-sur-mer, a city with 40,000 residents located near Nice, and in the Grenoble city center. Reports Louise Joselyn from new Electronics:“At Cagne, the pilot project has involved the deployment of sensors to monitor, measure and even control certain aspects of the city environment, including water metering in public buildings, street lighting control and the environment.[…]So far, the Cagne project has worked well, handling 100 or so sensors. The challenge is to support multiservices simultaneously and to scale to tens of thousands of sensors.” QR Codes Track Ancient Artifacts As we reported earlier this week, the Center for the Studies of Archaeological and Prehistoric Heritage (CEPAP) at the Autonomous University of Barcelona is now using QR codes to ID and track ancient artifacts. The CEPAP team has been testing this process for two years, affixing QR tags on everything from sword blades to bone remains. CEPAP has managed to reduce artifact coding errors to 1% with this process.Sao Paulo Cancer Hospital Uses RFID to Respond to Heart AttacksA report in the RFID Journal this week explained how a Brazilian hospital is making use of RFID in medical emergencies. The system “not only alerts responders in the event of a cardiac arrest, but also tracks response times, thereby providing the clinic with information that it can utilize to improve its response processes.”The RFID implementation has been a success so far and the hospital is planning to extend it to “tracking and managing clinical assets, as well as for environmental monitoring of temperature and humidity in patient care areas, and in hospital refrigerators and freezers used to store tissue samples and medications.”That’s a summary of some Internet of Things highlights from the past week. Feel free to share in the comments other interesting Internet of Things developments that you spotted this week. A Web Developer’s New Best Friend is the AI Wai… Related Posts richard macmanus 8 Best WordPress Hosting Solutions on the Marketlast_img read more