Africa

Three people have been killed in Soweto as looters raid foreign-owned shops in the township.

By WAM
CAIRO, Aug 30 2018 (WAM)

Egyptian President Abdel Fattah El Sisi embarks Thursday on a tour to Bahrain, China and Uzbekistan, Presidential Spokesman, Bassam Radi, said.

Sisi is scheduled to hold talks with Bahrain’s King Hamad bin Isa and a number of Bahraini top officials on means of enhancing bilateral ties.

He will then head for Beijing to attend the Summit of the Forum on China-Africa Cooperation (FOCAC). While in China, Sisi will hold a summit with Chinese President Xi Jinping on bolstering cooperation.

At the end of the tour, Sisi will hold talks with his Uzbek counterpart Shavkat Mirziyoyev, Radi said, noting that this is the first official visit by an Egyptian president to Uzbekistan.

 

WAM/Hatem Mohamed

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Fainess Muzyamba of Pemba district, Zambia, ending up ditching her traditional maize crop for sweet potatoes in the last farming season. It proved a successful strategy for her. She is pictured here with the clay flower pots that she also makes and sells at Zambia’s tourist capital, Livingstone, for additional income. Courtesy: Friday Phiri

By Friday Phiri
PEMBA, Zambia, Aug 30 2018 (IPS)

Just having better information about when and for how long it will rain is proving the difference between success and failure among smallholder farmers in southern Zambia. Empowered with timely information about the weather ahead of the 2017/18 farming season, 56-year-old Fainess Muzyamba of Pemba district, ditched her traditional maize crop for sweet potatoes.

“Through the monthly weather briefings that we get, I decided to plant sweet potatoes instead of maize,” Muzyamba told IPS.

The monthly weather bulletin that Muzyamba is referring to is part of an integrated package of interventions under the Rural Resilience Initiative by the World Food Programme (WFP).

The initiative integrates six management strategies, which include risk transfer through rainfall index insurance, prudent risk taking through input and cash loans, climate services and information, and post-harvest management and marketing.

“This service has been very helpful,” said Muzyamba. “Through this information and technical advice from extension officers, I was able to project that seasonal rainfall would be problematic, and decided to plant sweet potatoes—these don’t need a lot of water to do well.”

And the decision paid off.

She harvested 60 x 50-kilogram (kg) bags of sweet potatoes which she has exchanged for 40 x  50-kg bags of maize.

At the current market price, Muzyamba would earn 2,800 Zambian kwacha (USD280) for the maize and an additional 1,200 Zambian kwacha (USD120) from her crop of sugar beans, which she has recently diversified into for its income and nutrition value. She added, however, “20 bags of maize is for food consumption” for her 11-member family. And it is guaranteed to last until the next harvest.

Smallholder farmers not protected against climate shocks

In Zambia, 73 percent of farmers or 1.5 million of the country’s 28 million people are smallholders, cultivating less than two hectares of land. Erratic rainfall is an additional burden to challenges such as fragile soils and poor access to agricultural inputs, markets and improved agricultural practices.

They often do not have access to basic risk management strategies and when climate shocks hit, their wellbeing in the short term is compromised. In the long term, these shocks have enduring consequences, including poverty, malnutrition and low life expectancy.

“The issue of erratic patterns of the weather and how we have seen this evolving, is a concern and a larger problem affecting smallholder farmers not only in Zambia but the entire southern African region,” noted Lola Castro, WFP regional director for southern Africa, during her visit to Zambia in March.

She told IPS: “It is for this reason that we think the Rural Resilience Initiative we are implementing with partners needs to be scaled up to empower smallholders to create resilience and adaptation to climate change impacts by discouraging mono-cropping of maize and promoting diversification.”

In partnership with Meteorological Department of Zambia, WFP “has installed two Automatic Weather stations to improve upstream and downstream dissemination and utilisation of agro-met information,” Allan Mulando of WFP Zambia told IPS. “WFP has also installed 20 manual rain gauges manned by trained local farmers and used by the community to make timely decisions on planting.”

Farmers take and then share readings from the gauges with the meteorological office, field project and government extension officers, and fellow farmers for planning purposes.

In their farmers’ clubs, lead and follower farmers gather to discuss parameters such as the right soil moisture content for planting. By comparing their own locally-obtained information and the broad-based national and regional weather forecast, they are able to make projections of what to expect, thereby helping them to plan what and when to plant.

A success in a season of disaster

When she compares the average yields of other farmers in the area, Muzyamba believes her story is a remarkable turnaround in a season that has largely been a disaster for the majority of smallholders due to poor rainfall.

“Paying for my children’s school fees will not be a problem this year. I was particularly worried [about having the fees for my] oldest son who is in grade twelve,” she said. She added that the situation would now be manageable as she is also involved in a savings scheme with the farmers’ club. She uses the proceeds of her savings to transport clay flower pots to Zambia’s tourist capital, Livingstone, where they are sold.

This is a typical story of diversification as a climate change adaptation strategy for smallholder farmers. But, perhaps, what has been lacking over the years are concrete integrated and sustainable ways of incentivising smallholder farmers.

“I think what we have learnt so far, is that the only way to address some of these issues is through an integrated approach—ensuring that activities are mainstreamed into national programmes to avoid confusion, and in future even when we leave as partners, these programmes continue to be implemented by relevant government departments,” Zambia WFP country director, Jennifer Bitonde, told IPS.

The initiative, which started in 2014, has been expanded to the Monze, Gwembe, Namwala and Mazabuka districts, reaching a total of 18,157 farmers.

More people need more food

By the year 2050, global population is expected to rise from the current seven billion to about nine billion, requiring a dramatic increase in agricultural production. According to the Food and Agricultural Organisation of the United Nations (FAO),  as populations grow and diets change the world must produce 49 percent more food by 2050 than it did in 2012.

FAO believes that hunger, poverty and climate change can be tackled together by recognising the links between rural poverty, sustainable agriculture and strategies that boost resource use efficiency, conserve and restore biodiversity and natural resources, and combat the impacts of climate change.

At a global level, one important step taken to actualise this strategy was the adoption of the Koronivia Work Programme on Agriculture by the U.N. Framework Convention on Climate Change (UNFCCC) at the 2017 Conference of Parties—the highest decision-making body on climate change and development.

This was after several years of discussing agriculture as a secondary subject at the UNFCCC negotiating table. But the decision to adopt it as a work programme, provides hope for farmers and processors in developing economies as meaningful action to adverse effects of climate change on agriculture will be taken.

“From our perspective as Zambia, our interest is in line with the expectations of the African group which is seeking to protect our smallholders, who are the majority producers, from the negative impacts of climate change through tried and friendly technologies,” Morton Mwanza, Zambia’s ministry of agriculture focal point person on climate smart agriculture, told IPS.

Technology adoption and human rights approach the way forward

Meanwhile, George Wamukoya, one of Africa’s well-known experts on climate change and agriculture, believes innovative technology adoption is the next big step forward for African agriculture to be transformed.

“I think it is a positive step because it has brought the issues of implementation and science together, and this is what we have been fighting for. We need investment in agriculture, to try and get science to inform whatever we are doing in agriculture, and to help cushion our farmers’ challenges,” Wamukoya told IPS.

However, civil society groups are cautious of some approaches. Mithika Mwenda of the Pan African Climate Justice Alliance argued for a human rights approach.

Mwenda told IPS that agriculture is no longer just an issue of science but also a human rights issue, adding that industrialised agriculture was not the right remedy to smallholder farmers’ climate challenges.

“Our interest is to promote resilience to agriculture, the context in Africa is how to support that smallholder farmer, that pastoralist whose cows are dying due to drought every time, so it’s important that we look at it from this context and not theories of industrialisation,” explained Mwenda.

Related Articles

• How Rwanda is Saving One of its Most Important Crops—the Banana—With an SMS
• Safeguarding Precious Crop Genes in Trust for Humanity
• Bio-Product Targeting Deadly Toxin Holds Hope for Africa’s Food

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Ex-Cameroon striker Samuel Eto'o says he will give a house to Norbert Owona, a former captain who is now homeless.

The line up for the quarter-finals of the Confederation Cup is complete with five teams sealing their places after the final group games.

Kenya's President Uhuru Kenyatta says a new audit will show how public servants, including himself, got their wealth.

The PM will outline plans to stop abusive images being shared online as her African tour concludes.

Elizabeth Ohene considers the controversial proposal to limit women to having three babies in Ghana.

Tanzanian designer Joctan Cosmas Malule makes traditional outfits for use in films and music videos.

UK Prime Minister Theresa May is setting out a plan for future trade and investment relationships with African countries.

Former Manchester City midfielder Yaya Toure is still without a club, so his agent's decided to play a guessing game with fans on social media.

By International Organization for Migration
GENEVA, Aug 29 2018 (IOM)

“When an acquaintance told me there might be work for me in Austria, I jumped at the opportunity. She told me how good Austria was so I figured I would just get there, find work and settle in. They told me the journey was easy so I decided to give it a go.”

These are the recollections of Sara, one of thousands of Nigerian women who have been fooled by traffickers and sent to Europe, West and Central Africa and the Middle East for domestic labour or sexual exploitation.

For the past three years, the majority of people arriving in Italy by sea were Nigerian. Fifty nine per cent of all victims of trafficking (VoT) assisted by IOM, the UN Migration Agency, in 2016 were Nigerians; the Organization estimates that a staggering 80 per cent of Nigerian women and girls arriving by sea that year were trafficked for sexual exploitation.

In addition to paying large sums of money to their traffickers, Nigerian VoTs often submitted to a voodoo rite which bound them by ‘contract’ to their traffickers. The so-called contract, among other things, prohibits victims from revealing the names of their traffickers and other details that may lead to the identification of exploiters — victims are too scared to break it because they are made to fear that “bad things” will happen to them and their families if they do.

Continue reading

The post Cursed or Blessed? Nigerian Victims Of Trafficking Can Finally Break The Oath appeared first on Inter Press Service.

Security Council meeting on the situation in Yemen. 02 August 2018 United Nations, New York. Credit: UN Photo/Manuel Elias.

By Thalif Deen
UNITED NATIONS, Aug 29 2018 (IPS)

Saudi Arabia, which has been accused of relentlessly bombing civilian targets in strife-torn Yemen and threatening executions of human rights activists, is fast gaining notoriety as a political outcast at the United Nations.

UN Secretary-General Antonio Guterres has not only condemned the continued attacks on civilians but also called for “an impartial, independent and prompt investigation” into some of the recent bombings in Yemen.

The bombings of civilians have also led to speculation whether the Saudis and their coalition partners could be hauled before the International Criminal Court (ICC) for war crimes.

In a report titled “44 Small Graves Intensify Questions About the US role in Yemen”, the New York Times said some members of the US Congress have called on the American military to clarify its role in airstrikes on Yemen “and investigate whether the support for those strikes could expose American military personnel to legal jeopardy, including for war crimes.”

UN Secretary-General Antonio Guterres has not only condemned the continued attacks on civilians but also called for “an impartial, independent and prompt investigation” into some of the recent bombings in Yemen.

Guterres has described Yemen as “the world’s worst humanitarian crisis”, with three in four Yemenis in need of assistance. So far, the UN and its partners have reached out to more than 8 million people with direct assistance this year.

The death toll alone amounts to over 10,000 people, mostly civilians, since 2014.

But any drastic action against the coalition—or even an independent UN investigation–  is most likely to be thwarted by Western powers, including three permanent members of the Security Council, namely the US, UK and France, which are key suppliers to the thriving multi-billion dollar arms market in Saudi Arabia.

According to Amnesty International, the Saudis are also seeking the death penalty for five individuals who face trial before Saudi Arabia’s counter-terror court, including Israa al-Ghomgham, who would be the first woman ever to face the death penalty simply for participating in protests.

With a woman activist being threatened with execution, who is next in line? Children?

Daniel Balson, Advocacy Director at Amnesty International, told IPS “The sad fact is that in Saudi Arabia, children and the mentally disabled are not exempt from execution.”

Abdul Kareem  Al-Hawaj was 16 when he took part in anti-government protests., Abdullah al-Zaher and Dawood al-Marhoon were arrested on 3 March and 22 May 2012, when they were 16 and 17 years old respectively. Ali al-Nimr was 17 when he was arrested in February 2012.

Balson pointed out that these cases have several things in common: All four are members of the minority Shi’a sect. All four claimed that their confessions were extracted under torture. All four are at risk of imminent execution. Unfortunately, Saudi authorities have proven their willingness to incur substantial political cost simply to put people to death.

In January 2016, Saudi authorities executed 47 people in a single day despite widespread international condemnation. Saudi Arabia is certainly no stranger to killing women – authorities executed two in 2017.

Asked about the continued strong military relationship between the Saudis and Western governments, Balson told IPS that U.S. government officials must, along with their Western allies ban the sale of weapons to Saudi Arabia, not just to dis-incentivize executions but because these weapons cause innumerable civilian deaths in Yemen.

“This isn’t conjecture, it’s a documented fact,” he said.

Late last year, Amnesty documented that a US-made bomb killed and maimed children in San’a. Media reports have indicated that a bomb that killed dozens of children this month was made in the U.S.

“The U.S. must communicate to Saudi authorities that the killing of children – whether by warplane or executioner – is abhorrent,” he declared.

Hiba Zayadin of Human Rights Watch (HRW) told IPS the public prosecutor is demanding the death penalty for five of the six activists currently on trial.

“We do not know of any other woman activist that has faced the death penalty before for her rights-related work and believe this could set a dangerous precedent. It goes to show just how determined the Saudi leadership is to crush any and all dissent, all the while claiming to be on a path towards modernization, moderation, and reform,” she said.

Zayadin said now is the time for the international community to speak up about the human rights abuses increasingly taking place in Saudi Arabia today, especially by allies such as the US, UK, and France.

“We believe Saudi authorities would be responsive to calls from allies and international businesses seeking to invest in Saudi Arabia to respect the rule of law and release all unjustly detained dissidents”

If the Saudi leadership is truly committed to reform, she said, it would change course, and as long as it does not, the international community has a responsibility to hold it accountable to its promises.

Samah Hadid, Amnesty International’s Middle East Director of Campaigns, said Saudi Arabia is one of the world’s most prolific executioners and the world cannot continue to ignore the country’s horrific human rights record.

“We call on the international community to put pressure on the Saudi Arabian authorities to end the use of the death penalty, which continues to be employed in violation of international human rights law and standards, often after grossly unfair and politically motivated trials.”

Meanwhile, UN Under-Secretary-General for Humanitarian Affairs Mark Lowcock said that at least 22 Yemeni children and four women were killed in an air strike last Thursday (August 23) as they were fleeing the fighting in Al Durayhimi district in Hudaydah governorate.

“This is the second time in two weeks that an air strike by the Saudi-led Coalition has resulted in dozens of civilian casualties. An additional air strike in Al Durayhimi on Thursday resulted in the death of four children,” he added

Lowcock said he was also “deeply concerned” by the proximity of attacks to humanitarian sites, including health facilities and water and sanitation infrastructure.

The UN and its partners, he pointed out, are doing all they can to reach people with assistance. Access for humanitarian aid workers to reach people in need is critical to respond to the massive humanitarian crisis in Yemen. People need to be able to voluntarily flee the fighting to access humanitarian assistance too.

“The parties to the conflict must respect their obligations under international humanitarian law and those with influence over them must ensure that everything possible is done to protect civilians,” he added.

In a piece titled “US Commander Seeks Clarity in Yemen Attack”, the New York Times said since 2015, the US has provided the Saudi-led air campaign in Yemen with mid-air refueling, intelligence assessments and other military advice.

The US air commander in the Middle East, Lt. Gen Jeffrey Harrigian, has also urged the Saudi-led coalition to be more forthcoming about an airstrike in early August which killed more than 40 children.

Harrigian was quoted as saying “There’s a level of frustration we need to acknowledge. They need to come out and say what occurred there.”

The conflict in Yemen began in 2014 when Houthi rebels, aligned with Iran, seized the capital and sent the government into exile in Saudi Arabia. The fighting intensified beginning 2015.

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A proposal from the Union of North African Football Federations for the free transfer of players amongst members draws a mixed reaction.

A photographer spent 29 days on board a Spanish rescue boat off the coast of Libya

Tens of thousands of Namibians were killed in what is called the first genocide of the 20th Century.

Rwanda is combatting banana disease through digital innovation. Credit: Alejandro Arigón/IPS

By Aimable Twahirwa
KIGALI, Aug 29 2018 (IPS)

When Telesphore Ruzigamanzi, a smallholder banana farmer from a remote village in Eastern Rwanda, discovered a peculiar yellowish hue on his crop before it started to dry up, he did not give it the due consideration it deserved.

“I was thinking that it was the unusually dry weather causing damage to my crop,” Ruzigamanzi, who lives in Rwimishinya, a remote village in Kayonza district in Eastern Rwanda, tells IPS.

But in fact, it was a banana wilt infection."The launch of the smart or normal mobile application supports our ongoing efforts to best control the disease in a cost-effective way." -- Julius Adewopo, lead on ICT for the BXW project at IITA

Here, in this East African nation, Banana Xanthomonas Wilt or BXW is detrimental to a crop and has far-reaching consequences not only for farmers but for the food and nutritional security of their families and those dependent on the crop as a source of food.

Banana is an important crop in East and Central Africa, with a number of countries in the region being among the world’s top-10 producers.

According to a household survey of districts in Tanzania, Burundi and Rwanda, banana accounts for about 50 percent of the household diet in a third of Rwanda’s homes, where “annual per capita consumption of banana ranges from 400-600 kg, the highest in the world.”

But the top factor affecting banana production in all three countries, according to the survey, was BXW.

If not handled correctly, it can result in 100 percent loss of crop.

The latest Comprehensive Food Security and Vulnerability Analysis report released by the Rwandan government and its partners in 2015 indicates:

• For 2015, nearly one million metric tons of bananas were produced by the country.
• This was a reduction in productivity.
• In 2013, for the same period evaluated in 2015, 1.2 million metric tons were produced.

Despite this trend across the country, the report found that the south-eastern Plateau Banana Zone still showed high levels of food security.

Complacency and lack of information contribute to spread of the disease

The BXW disease is not new to the country. It was first reported here in 2002. Since then, there have been numerous, rigorous educational campaigns by agricultural authorities and other stakeholders, including non-governmental organisations.

Farmers in Ruzigamanzi’s region have been trained by a team of researchers from the Rwanda Agriculture Board and local agronomists about BXW. But Ruzigamanzi, a father of six, was one of the farmers missed by the educational campaign.

He was unaware of BXW.

Had he known what the disease was, and depending on its state of progress on the plant, Ruzigamanzi would have had to remove the symptomatic plants, cutting them at soil level when first observing symptoms. If left too long he would have had to remove the entire plant from the root.

And it is what he ended up doing two weeks later when a visiting local agronomist came to look at the plant.

By then it was too late to save the tree and Ruzigamanzi had to uproot all the affected mats, including the rhizome and all its attached stems, the parent plant and its suckers.

Ruzigamanzi’s story is not unique. In fact a great number of smallholder farmers in remote rural regions have been ignoring or are unaware of the symptoms of this bacterial banana infection. And it has increased the risk of resurgence of the disease in the region, with several districts in Eastern Rwanda being affected by the disease in recent years.

Using technology to educate rural farmers about the spread of a deadly crop disease

It is one of the reasons why scientists here began looking at alternative ways of educating farmers and monitoring and collecting data about the disease.

In June, a collaboration between the International Institute of Tropical Agriculture (IITA), Bioversity International, the Leibniz Institute of Agricultural Development in Transition Economies and the Rwandan government began to tackle the disease through the use of digital innovation.

The new initiative, launched with a total investment of 1.2 million Euros from development partners, seeks to explore the adoption of smart phones and tablets as scalable tools in generating up-to-date knowledge about BXW.

“These [ICT] innovations could also be useful in determining the severity of the disease thus strengthening control measure, based on past experience and instructions,” Julius Adewopo, lead on ICT for the BXW project at IITA, tells IPS.

According to the 2017 report by Rwanda Utilities Regulatory Authority, Rwanda’s mobile telephone penetration is currently estimated at 75.5 percent in a country of about 12 million people, with a large majority of the rural population currently owning mobile phones.

Central to the project is the citizen science approach, which means farmers and extension officers play leading roles in collecting and submitting data on disease transmission patterns.

Still in the pilot phase, across the country a group of 70 trained farmers, agricultural extension officers and food producers from eight districts use their mobile phones to submit data on the bacterial disease incidence and severity via What’s App or SMS messages. A mobile app was also designed to enhance the user experience.

The mobile app provides a real-time and dynamic way to represent disease information on maps, after analysing the collected information from the field.

“The launch of the smart or normal mobile application supports our ongoing efforts to best control the disease in a cost-effective way,” Adewopo tells IPS.

A real-time reporting system on the disease

While the existing National Banana Research Programme here has long focused on five key areas of interventions, which include the prevention of BXW using recommended crop disease prevention approaches, Adewopo stresses that the unique aspect of the mobile app is that it is easily scalable in a real time system and the information provided on the application can adapt quickly to any changes.

While the new reporting system is intended to provide an early warning system that will allow the Rwandan government to target efforts to prevent the spread of BXW, it also aims to serve as a catalyst to mobilise partnerships, says Mariette McCampbell, a research fellow involved in ICT-enabled innovation and scaling at IITA’s office in Kigali.

“This innovation can also adapt to other crop disease control in the long term and it aims at supporting farmers to transition from subsistence to entrepreneurial farming,” she tells IPS during an exclusive interview.

McCampbell is one of the co-authors on a report about the project, which notes that data is key to developing policies and prevention strategies to aid in combatting the disease.

“We see limitations in the amount of reliable and up-to-date data about disease diffusion patterns, severity of outbreaks, and effect of control measures, as well as socio-economic and socio-cultural data that could feed into farmer decision-making tools and an early warning system.

“Development of informed policies and prevention strategies is also hindered by the absence of large-scale accurate data,” the report notes.

According to IITA, the livelihoods and food security of an estimated 30 million farmers is currently threatened by the wide spread of BXW and fungal disease. Both diseases have decimated banana crops in East and Central Africa.

“Banana farmers in Rwanda should leverage the benefits of this technology using the existing IT infrastructure with the speed of mobile phone penetration in the country,” Adewopo says.

*Additional reporting by Nalisha Adams in Johannesburg

Related Articles

• Safeguarding Precious Crop Genes in Trust for Humanity
• Climate Change Needn’t Spell Doom for Uganda’s Coffee Farmers

The post How Rwanda is Saving One of its Most Important Crops—the Banana—With an SMS appeared first on Inter Press Service.

Deputy High Commissioner to UK, Kabiru Bala, calls for international cooperation.

TADEUSZ GALEZA is a research officer in the IMF’s Monetary and Capital Markets Department. JAMES CHAN is a senior information management assistant in the IMF’s Statistics Department.

By Tadeusz Galeza and James Chan
WASHINGTON DC, Aug 29 2018 (IPS)

From strings of shells in the Solomon Islands to large stone disks on the Micronesian isle of Yap or wheels of Parmigiano-Reggiano cheese in Italy, money has taken many forms throughout history.

Today, banknotes are an artistic expression of national sovereignty, with many countries choosing to immortalize famous authors and activists, local wildlife, and iconic national landmarks. In other words, modern paper money represents the essence, history, beauty, and ideals to which each country aspires.

To see this diversity in action, we need look no further than the 189 member countries of the IMF that churn out 136 unique national currencies and form four currency unions.

Standouts include the Malawian kwacha, the smallest banknote in our study at about 87 percent the size of the US dollar bill. At the other end of the spectrum are the Brunei and the Singapore dollars, the largest banknotes in circulation, each with a total area of more than 150 percent of the US dollar bill—calling for a really deep wallet.

Banknotes across the world are rectangular, but most are wider rather than they are tall. Swiss francs, for example, tend to be very slender, while British pounds and Kenyan shillings are more square.

Yet despite the variations in design, the properties that define currency are the same: they are a unit of measure, a store of value, and a medium of exchange. Paper bills, or “fiat” money, also have no intrinsic value; their worth is determined solely through supply and demand, and they are declared legal tender by government decree.

The most important element that separates one national currency from another is its value. Central banks decide what the largest note in circulation should be, and its nominal value is determined by the number of zeros—this indicates the purchasing power of the note within the country.

Currently, the largest bills changing hands range from 20 Bahrain dinars to 500,000 Vietnamese dong. Historically, because of hyperinflation, many countries printed banknotes with a cartoonish number of zeros: Yugoslavia issued a 500 billion dinar bill in 1991, and Zimbabwe a 100 trillion dollar bill in 2009.

 

 

Today, a hundred units of currency (for example, 100 US dollars) is most commonly the highest available banknote in each country. But the real value (proxied here by its worth in US dollars) is where the rubber hits the road.

On average, the largest banknote in circulation across countries is equivalent to 33 US dollars, but the difference in real value from country to country could not be more stark. It takes three 100 South Sudanese pound notes (their largest in circulation) to purchase a medium coffee at Starbucks. At the opposite end, it takes only two of Brunei’s largest bills—10,000 dollar notes—to buy a 2018 Toyota Yaris sedan.

Cash, nevertheless, may not be king forever.

With digital currencies and online transactions gaining steam worldwide, the future of paper money may be in jeopardy. What was once valued precisely because of its physicality is giving way to a new global economy where more and more transactions—big and small—are processed electronically.

Perhaps one day countries will design and issue banknotes of the virtual kind, embedded with even richer features to celebrate all they hold dear. Until then, however, paper banknotes will retain an undeniable appeal.

The link to the original article follows:  http://www.imf.org/external/pubs/ft/fandd/2018/06/value-of-paper-money-around-the-world/currency.htm?utm_medium=email&utm_source=govdelivery

PHOTO CREDITS: ISTOCK.COM/BENEDEK, MICHAEL BURRELL, YEVGENROMANENKO, ALAMY.COM/CHRISTOPH RUEEGG, CHRONICLE

Opinions expressed in the article are those of the authors; they do not necessarily reflect IMF policy.

The post Striking the Right Note: a History of Paper Money appeared first on Inter Press Service.

Excerpt:

TADEUSZ GALEZA is a research officer in the IMF’s Monetary and Capital Markets Department. JAMES CHAN is a senior information management assistant in the IMF’s Statistics Department.

The post Striking the Right Note: a History of Paper Money appeared first on Inter Press Service.

By WAM
ASTANA, Aug 29 2018 (WAM)

Dr. Mohammed Ahmed bin Sultan Al Jaber, UAE Ambassador to Kazakhstan, today attended the opening ceremony of the International Conference of the Comprehensive Nuclear-Test-Ban Treaty Organisation, CTBTO, titled “Remembering the Past, Looking to the Future”.

The conference, held on 29th August- 2nd September, coincides with the International Day against Nuclear Tests – observed on 29th August – and was introduced by the UN General Assembly in 2009 at the initiative of the President of Kazakhstan Nursultan Nazarbayev.

The five-day conference was opened in the presence of Kairat Abdrakhmanov, Kazakhstan’s Minister of Foreign Affairs; Kanat Bozumbayev, Kazakhstan’s Minister of Energy, senior officials of the Kazakh Government, and scientists in nuclear disarmament, as well as heads of diplomatic missions and international organisations accredited to Astana.

The participants will discuss the role of nuclear disarmament and non-proliferation towards building a lasting global peace, including by enhancing the status of the Treaty.

On the sidelines of the conference, Ambassador Al Jaber met with Kazakhstan’s Foreign Minister and Energy Minister.

 

WAM/Rola Alghoul/Hatem Mohamed

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