AVZ Discussion 2022
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Frank
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Keynote speech by Judith Suminwa: “The trivialized economic, political and security crisis” (Eugène Diomi Ndongala)
After a "cockfight" between members of the office of the National Assembly, the Congolese were finally entitled to the presentation of the government program and the leaders of the executive carried to the baptismal font by Judith Suminwa, Prime Minister of DR Congo.
For Eugène Diomi Ndongala, who closely followed this event, from a formal point of view, the elephantine nature of the government which has just been invested by the National Assembly fits poorly with the stated desire to reduce the lifestyle of institutions.
The large number of former ministers from the previous Sama Lukonde 1 and 2 government does not allow a new wind to blow through this executive.
“It is not by chance that some observers nicknamed this executive Sama Lukonde 3,” he said.
Regarding the “so-called” pillars of government action, he continues, it is above all the prioritization of objectives which is surprising.
Indeed, rather than finding, at the first place of the "pillars" of this program, the return to peace and the fight against the "destructive predation" of the elites who give themselves an absolute right to "harvest" the money of the Congolese taxpayer, a series of objectives (called pillars) have been listed which can be the result of good economic management, but which are not directly achievable, without a real macro-economic recovery of the DRC.
Indeed, the revival of employment, contrary to what Judith Suminwa said, can never be obtained by the "discovery of niches" in the current socio-economic panorama of an "economy in crisis".
Employment could be increased by a revival of productive investment, in industry (still embryonic, in the DRC), extensive agriculture or a Keynesian public works policy.
In a country like DR Congo, which has fallen, according to the latest data on its GDP (gross domestic product) published by the IMF (International Monetary Fund), to fourth place among the poorest countries in the world, reversing the order of priorities is a serious mistake that the Congolese can no longer afford.
What can we say about the security crisis situation affecting the DRC?
"It is barely touched upon by the Prime Minister, with a certain lightness, whereas without pacification of the DRC, through a broad inclusive political dialogue, the objectives of her government will be a vague inventory of good intentions."
According to Diomi Ndongala, it is still very serious that no serious action is envisaged to help the 7.5 million war-displaced people who have lived, until today, on 150 francs per year, per person. , mobilized by the previous government!
The same analysis is valid for the stated desire to highlight the protection of the purchasing power of the Congolese, as a “pillar” of government action.
More than an objective in itself, "this pillar of government can be seriously achieved only in a context of relaunching internal agricultural production (to achieve food autonomy), but also industrialization which could balance the balance of payments and make the economy less dependent on foreign currency imports and, consequently, the currency more stable against the dollar.
The promotion of sport, culture or the desired "universal" health coverage are noble objectives, although always dependent on the restoration of macro-economic balances and a fight, without sparing, against the "destructive predation" of leaders who appropriate huge portions of the national budget, making it impossible to implement essential reforms in the Army, the Civil Service, Justice and Administration, without which the public service can never be effective.
The general impression given by the excessively light and optimistic tone of the executive's keynote speech, "is that of a leader who does not want to assume the seriousness of the situation which is overwhelming the DRC at the moment", according to this leader Ne Kongo.
The economic, security, political and humanitarian crises have simply been trivialized, certainly so as not to overwhelm the previous Sama-Lukonde government, which has become legendary for its passivity in the face of the serious problems that have shaken the Democratic Congo in recent years, he believes.
“This is not surprising, given that many of the current ministers served in the previous government, including Ms. Suminwa herself.”
This tendency to trivialize the real situation of economic and political crisis in the DRC is not surprising and we find it in the inflated figures of future national budgets.
Planning for an increase in the budget which would be fueled exclusively by the tax base and external budgetary cooperation appears unrealistic, without a pacification of the DRC and a revival, through investment, of internal production, the war having the unfortunate tendency to absorb all the meager resources available.
Without forgetting the average interest rate on the public debt portfolio which was contracted entirely by the previous government and which also weighs heavily on the national budget.
Not highlighting the fight against corruption is a negligence which risks destroying the efforts of governmental praxis, even if the "famous pillars" of its action were placed in the right hierarchical order.
Denying the seriousness of the situation, through a complacent diagnosis of the ills that are gnawing at the country, is never a good attitude.
"This is why I fear that the weaknesses of previous Sama-Lukonde governments 1 and 2 could be repeated in the government of Ms. Suminwa, herself a member of this executive.
This is why I invite Ms. Suminwa to give a chance for peace in the DRC and to add to the "pillars" of the action of its government, the fight against destructive predation which has impoverished the entire nation and which risks seriously hampering the action of its executive, if corruption, embezzlement, over-invoicing as well as budgetary surpluses allocated to institutions are not immediately controlled", concluded Eugène Diomi Ndongala.
mediacongo
Azzler
Top 20
He must have forgotten his login.
CashKing
Regular
Fuxk me let’s hope something happens sooner that later, I’m sick of cutting wet grass boys & girls.
Don’t get me wrong I love my new life but I could definitely do with at least my money back plus headache money…
Something’s gotta give soon huh ?
GLTAH FFS
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Aagh ELPHAMALE, the only dude who actually deserved displaying a red heart next to his avatar..........i miss the days when he posted on HC.
marksmann007
Regular
marksmann007
Regular
You would have to assume RioTinto would be up to date with the AVZ file?
TheCount
Regular
And with $10B cash on the Balance Sheet, could make a sensible offer.
TC.
RHyNO
Regular
Just on holiday buddy. Needed a break from the bs but could not keep away from franks beautiful dog memes. Fucking hope this turns our way!He must have forgotten his login.
Azzler
Top 20
No such handle exists!
Funny that.
BRICK
Regular
I see they have their mandatory Chinese interpreter
RHyNO
Regular
Hey man you’re right here, It was incorrect of me to suggest they were lying. I concede and concur with you guys here. End of the day we’re it in question it would have been stripped of us by now. It is good legal title.
RHyNO
Regular
@raah_project
RHyNO
Regular
Another day another chance for me to make a cnt of myself on the old chat site. I’ll take a silence, sorry to have wasted your time here mate always appreciate your insight.
Cumquat Cap
Regular
All good mate emotions running high as fuck, not 100%happy with management either but gotta suck it up.
Rio meeting with cami overnight, they’ve mentioned interest In Lithium acquisitions? Who knows
Rio meeting with cami overnight, they’ve mentioned interest In Lithium acquisitions? Who knows
Rio would be a perfect fit for a TO of AVZ.
Huge bank balance.
Firb would open arms it.
ICC & ICSID arbitration would be dropped.......DRC govt
China doesnt control Manono.
Win win
I am unsure if this has already been posted, but if not, it's an interesting read.
www.aspistrategist.org.au
Date of publication 07 June 2024
Of particular interest is the similarity between the Mali Govt's expropriation of Leo Lithium's Goulamina lithium project and the DRC's expropriation of Dathcom's Manono project (AVZ 75%).
In both cases the projects corruptly ended up in the hands of Chinese companies, although Manono is yet to fully play out in the international arbitral courts and the outcome may be very different.
Interestingly:
In the situation in Mali, Australian company Leo Lithium Ltd agreed in May to sell its stake in the large-scale Goulamina lithium project under development there to China’s Ganfeng Lithium, relinquishing project management. That followed a dispute with the government of Mali and its September 2023 suspension from the ASX. Leo Lithium’s shares were valued at 51 cents at the time of suspension, down from a high as $1.25 in mid-2023, shortly before the dispute emerged. Ganfeng Lithium paid Leo Lithium the equivalent of 43 cents a share. Leo Lithium said the sale was in the best interests of its shareholders in light of ‘challenging’ sovereign and security risks in Mali.
While Ganfeng was prepared to pay for LLL's tenement, Zijin in conjunction with a whole conga line of corrupt DRC entities wants to steal Manono without compensation.
Cheers
F
China’s control and coercion in critical minerals | The Strategist
This is the first of two parts of an article on coercive threats to critical minerals supply and what Australia and its critical minerals partners are doing and should do to counter them. Markets ...
Of particular interest is the similarity between the Mali Govt's expropriation of Leo Lithium's Goulamina lithium project and the DRC's expropriation of Dathcom's Manono project (AVZ 75%).
In both cases the projects corruptly ended up in the hands of Chinese companies, although Manono is yet to fully play out in the international arbitral courts and the outcome may be very different.
Interestingly:
In the situation in Mali, Australian company Leo Lithium Ltd agreed in May to sell its stake in the large-scale Goulamina lithium project under development there to China’s Ganfeng Lithium, relinquishing project management. That followed a dispute with the government of Mali and its September 2023 suspension from the ASX. Leo Lithium’s shares were valued at 51 cents at the time of suspension, down from a high as $1.25 in mid-2023, shortly before the dispute emerged. Ganfeng Lithium paid Leo Lithium the equivalent of 43 cents a share. Leo Lithium said the sale was in the best interests of its shareholders in light of ‘challenging’ sovereign and security risks in Mali.
While Ganfeng was prepared to pay for LLL's tenement, Zijin in conjunction with a whole conga line of corrupt DRC entities wants to steal Manono without compensation.
Cheers
F
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