IMF ‘ruthless truth tellers’ on Greece economy: Lagarde…Read full details

IMF chief Christine Lagarde (AFP Photo/Cristobal Bouroncle)<br />

IMF chief Christine Lagarde defended her organization’s pessimistic outlook for the Greek economy, saying Wednesday the fund must be the “ruthless truth teller” even if some do not like the analysis.

The International Monetary Fund and Greece are at odds over the outlook for the troubled European nation’s economy, a split that likely will continue to hold up further IMF financing.

Greece Finance Minister Euclid Tsakalotos said the IMF report on the economy, released Tuesday, “fails to do justice” to his country by underestimating growth and the progress made through years of sacrifice.

But Lagarde said following a speech that the fund in the review of the Greek economy “tried in full honesty to be those ruthless truthtellers” despite the criticism.

The reports highlighted that despite a “massive effort” by the Greek people some of the reforms are incomplete, including changes to the pension and income tax systems, where too few people bear most of the tax burden, she said.

“Somebody can ask me the question three times over, I will still say the same thing.”

The IMF said Athens is relying on overly optimistic calculations for its estimates of growth and budget.

The central focus of the dispute is whether Greece can deliver a primary balance, or budget surplus before debt repayments, of 3.5 percent of GDP, far in excess of the 1.5 percent the IMF says is feasible. Trying for the higher surplus “will take a toll on growth.”

Months of bickering have delayed progress on Greece’s 86-billion-euro ($92.4 billion) bailout program agreed in 2015. European officials insist on IMF participation, and the IMF will not lend more unless the country’s long-term debt is sustainable.

The IMF warned that Greece’s debt will become “explosive” in the long run, and insists the country requires further substantial debt relief and realistic budget targets.

But Tsakalotos, in a letter responding to the IMF assessment, said the argument that “Greece cannot sustain high fiscal surpluses that surpass 1.5 percent of GDP is in contradiction to recent developments.”

The fund data “rely neither on the most recent evidence of fiscal performance nor on the most up-to-date evidence on the ability of the Greek economy to produce fiscal surpluses,” he said.

But Lagarde said the country’s reform program “had not yet delivered the benefits that were expected in order to unleash the forces of the Greek economy.”

British MPs approve bill to start Brexit…Read full details

British Prime Minister Theresa May . / AFP PHOTO / NIKLAS HALLE'N

British MPs overwhelmingly backed a bill on Wednesday empowering Prime Minister Theresa May to start negotiations on leaving the European Union, bringing Brexit a significant step closer.

Members of the House of Commons voted by 494 votes to 122 for a law enabling May to trigger Article 50 of the EU’s Lisbon Treaty, which begins two years of talks on pulling out of the 28-nation bloc.

The unamended two-clause bill now moves to the House of Lords, where there may be more opposition from unelected peers — and where May’s Conservative party does not have a majority.

But its passage through the Commons, where two-thirds of MPs had campaigned against Brexit ahead of the June referendum, puts May on course to begin the withdrawal process by the end of March, as she has vowed.

“This, elementally, is a straightforward bill which serves only to give the prime minister the power to trigger Article 50 and thereby respect the result of the referendum,” said Brexit minister David Jones.

– Labour headaches –

The referendum result sent shockwaves around Europe, spooking investors and raising fears for the future of the EU itself.

In the early weeks, there was speculation that pro-European lawmakers might try to delay or even stop the Brexit process.

May initially sought to bypass parliament, prompting an appeal to the Supreme Court that last month ruled she must obtain their approval to trigger Article 50.

But during five days of debate on the resulting government bill, it became clear that most MPs would not stop the process — even if some warned that leaving Europe’s single market could be disastrous.

The opposition Labour party and the smaller Scottish National Party tabled amendments demanding guarantees on market access, workers’ rights and those of EU citizens in Britain.

Each was defeated, although during the process the government was forced to promise lawmakers a vote on the final Brexit deal before it is concluded.

Labour imposed a “three-line whip,” a tough disciplinary measure ordering its MPs not to oppose the legislation, ensuring it would pass.

But some 47 Labour MPs rebelled last week, and business spokesman Clive Lewis resigned to back them shortly before Wednesday’s vote, bringing a fresh headache for embattled leftist leader Jeremy Corbyn.

After two-thirds of Labour voters backed Brexit, many of them driven by concerns over mass immigration from the rest of the EU, Corbyn decided his party could not block the process.

But with dismal opinion poll ratings and long-running discontent among MPs over his leadership, a major rebellion could seriously undermine his position.

– Vote on final deal –

May has promised to prioritise controlling migration in the Brexit negotiations, even if that comes at the expense of giving up membership of Europe’s single market and its 500 million customers.

Concerns over losing access to the continental trading zone have sent the pound plunging around 15 percent against the dollar since the referendum.

Under pressure from MPs, the government was forced to concede on Tuesday that MPs and peers would vote on the agree exit terms and the new trading relationship with the EU.

The move helped fend off a rebellion by pro-European members of May’s Conservative party, but left many lawmakers unhappy with parliament’s future role.

There is scepticism on both sides of the Channel that both an exit deal and a trade agreement can be agreed within two years, raising the question of what parliament would be voting on at the end.

Ministers also confirmed that if lawmakers rejected the final deal, the alternative was not to return to negotiations — but to leave the bloc without any agreement at all.

Rog Boyz – Ogenedo [Mp3, Lyrics, Wiki, Bio]

Rog Boyz – Ogenedo mixed by ABLORD

Rog Boyz – Ogenedo

Barca announce Suarez Cup red card appeal…See full details

Barcelona's Uruguayan forward Luis Suarez (R) argues with referee after being shown the red card during the Spanish Copa del Rey (King's Cup) semi final second leg football match FC Barcelona vs Club Atletico de Madrid at the Camp Nou stadium in Barcelona on February 7, 2017.<br />LLUIS GENE / AFP

Barcelona will appeal against the second yellow card given against Luis Suarez in their Spanish Cup semi-final that will see the Uruguay forward miss May’s final, the Spanish champions said on Wednesday.

Suarez, whose goal gave Barca a 1-1 draw against Atletico Madrid at the Camp Nou on Tuesday that saw them progress 3-2 on aggregate, was sent off late after picking up a second booking for elbowing Koke.

It means he will miss the final against either Alaves or Celta Vigo on May 27.

“FC Barcelona will appeal when the competition committee views the referee’s report,” said the Catalans in a statement.

After the match, Suarez had said of his challenge with Koke: “It isn’t even a foul.”

But he retained little hope of being exonerated.

“We already know how these things go.

“That is why I am so angry because it was absolutely nothing.”

Barca have won the Copa del Rey in each of the last two seasons.

Trump attacks Nordstrom for dropping daughter’s fashion line…Read full details

Ivanka Trump

President Donald Trump on Wednesday lashed out at department store chain Nordstrom over its decision to stop selling his daughter’s clothing line.

“My daughter Ivanka has been treated so unfairly by Nordstrom,” Trump said in a tweet. “She is a great person — always pushing me to do the right thing! Terrible!”

The retailer, which has about 350 stores in the United States and Canada, said last week it was dropping Ivanka Trump’s line — which includes high-end women’s clothing, accessories and shoes — due to poor sales.

Since his surprise victory in the November presidential election, Trump has used his Twitter feed to lambast companies for off-shoring jobs or for allegedly overcharging the federal government for aircraft.

But the latest tweet was different in that it sought to defend part of Trump’s family business empire, which critics have said could be a source of profound conflicts of interest for the White House.

Unlike other companies he has attacked on Twitter, including Lockheed, Boeing and Ford, Nordstrom stock had gained nearly one percent in the early afternoon.

The upscale retailer did not immediately respond to a request for comment from AFP about the Twitter attack, but Nordstrom said in a statement last week that its decision was based purely on commercial merit.

“In this case, based on the brand’s performance, we’ve decided not to buy it for this season,” the company said, noting the phase-out was part of its regular review of the 2,000 brands it sells.

Nordstrom was one of several retailers that faced boycott calls for selling Trump family products or supporting the campaign.

Anti-Trump activists created “Grab Your Wallet” after the election to enlist consumers in boycotts to protest Trump’s agenda, which also has been met by waves of demonstrations inside and outside the United States.

Mike Abdul – Designer [Mp3, Lyrics, Wiki, Bio]

off Mike Abdul’s new Grateful EP comes a new banging inspired single called Designer. The audio Designer on our site is 30 seconds long. You will need to buy designer on MTN Music for full version.

Mike Abdul – Designer

Sharapova handed Madrid Open wildcard…See full details

/ AFP PHOTO / PAUL CROCK

Five-time Grand Slam champion Maria Sharapova has been handed a wildcard for the Madrid Open in May just weeks after completing a 15-month ban for doping, organisers confirmed on Wednesday.

The Russian who won the French Open for her fifth Grand Slam in 2014 – shortly after winning the Madrid Open that year – plans to make her return to the circuit in Stuttgart on April 26.

“Sharapova requested an invitation to play in the tournament and after careful consideration, we decided to give her a wild card,” said tournament director and former Wimbledon champion Manolo Santana.

“Maria is one of the best players of the last 15 years and also a past winner of our tournament.

“In Madrid she always plays well and I’m sure she will come back to the courts highly motivated and hoping to do well in her first tournaments.”

Sharapova hasn’t played on tour since testing positive for meldonium at the 2016 Australian Open.

However, her initial two-year ban by the International Tennis Federation, was reduced to 15 months by the Court of Arbitration for Sport.

“Sharapova is one of those players that all tennis fans want to see,” added tournament CEO Gerard Tsobanian.

The tournament runs from May 6 to May 13.

Ikay Rocks – The Presence [Mp3, Lyrics, Wiki, Bio]

THE PRESENCE (Mo wo’le) is a song from the place of sincere worship. God’s presence opens us to true love, true joy, peace and POWER. This song helps us communicate and bask in the beauty of holiness. It was produced by Segun Gabriel (segunkeez) and mixed and mastered by Steven Brown (USA).

Set your worship altar on fire with this one.

Ikay Rocks – The Presence

Somalia’s ex-PM elected president…Read full details

Mohamed Abdullahi Farmajo

Former Somali prime minister Mohamed Abdullahi Farmajo, who holds joint American citizenship, was elected president on Wednesday, vowing to crack down on corruption and Al-Shabaab militants.

The 55-year-old former premier, whose hails from the Darod clan and who goes by the nickname “Farmajo”, won after incumbent president Hassan Sheikh Mohamud admitted defeat in a second round of voting by lawmakers.

“This is the beginning of unity for the Somali nation, the beginning of the fight against Shabaab and corruption …” a triumphant Farmajo said after being declared the winner in a long, drawn-out election process in the conflict-wracked nation.

Civilians took to the streets and soldiers fired celebratory gunfire in the capital Mogadishu which had been near-deserted for two days with roads and schools closed and residents urged to stay indoors for fear of a strike on the capital by Shabaab militants.

And Somali refugees in Dadaab, the world’s biggest refugee camp in eastern Kenya, also erupted with joy and sang the national anthem when hearing Farmajo had won, according to an AFP correspondent.

“Time has come for us Somalis. I thank God. This is the man we need, he cares for us, he cares for the poor men and women,” said 60-year-old Anfi Kassim who has lived in the camp since 1992.

After six hours and two rounds of voting, a crowded field of 21 presidential candidates was whittled down to the two veteran politicians.

Farmajo failed to win the required two thirds majority, but had 184 votes to Mohamud’s 97, prompting the incumbent to drop out to avoid a third round.

The father of four served as prime minister for only eight months between 2010 and 2011 and was ousted in a deal to form a new government and postpone elections that year.

However several of his moves, such as implementing regular payments of soldiers, were well received and many supporters took to the streets of Mogadishu to protest his removal.

Farmajo was born in the capital to a family from the southern Gedo region, and moved to the United States where he studied history and political science at the University of Buffalo.

He went on to work in the foreign ministry and as a diplomat in Washington before the collapse of Siad Barre’s military regime in 1991 which led to civil war and decades of anarchy in Somalia.

– Limited vote –

Farmajo also ran for president in 2012, in the first election inside the country since 1991. In that election only 135 clan elders picked the lawmakers who went on to elect the president.

In 2016 Somalia had been promised a one-person, one-vote election. However political infighting and insecurity saw the plan ditched for a limited vote running six months behind schedule.

Although the election is billed as its most democratic in nearly five decades, only 14,000 delegates were able to vote for the lawmakers who went on to elect the president.

The long, drawn-out election has largely consisted of horsetrading between different clans, with widespread allegations of vote-buying and corruption, leaving it a distant process to the average Somali.

The internationally-backed government still has limited control over a country where swathes of countryside are controlled by Al-Qaeda-linked Al-Shabaab militants who regularly launch deadly strikes against Mogadishu.

– ‘Most expensive election’ –

If Farmajo is serious about cracking down on corruption, he has his work cut out for him in a country listed as the most corrupt in the world by Transparency International.

Mogadishu-based anti-corruption NGO Marqaati in a report released this week described rampant vote-buying, and alleged that civil servants had gone unpaid for seven months and public lands sold off to fund lobbying for MP positions.

“When delegates refused to take money and vote a certain way, they would be replaced, intimidated, harassed and, in some incidences… shot,” read the report.

The report said some delegates were paid up to $30,000 each to vote for MPs, while presidential candidates seeking to sway MP votes were reported to have to fork out between $50,000 and $100,000 per lawmaker.

According to Marqaati this made it “the most expensive election, per vote, in history.”

Real Joy – Shine [Mp3, Lyrics, Wiki, Bio]

The Abia state born, young, beautiful and creative female Afro pop/R&B singer and song writer “RealJoy“who has gotten several award nominations including the last BEST OF AFRICAN GOSPEL MUSIC AWARDS (Bagma Awards) held in Atlanta Georgia USA on her hit song TRUE LOVE. She premieres a new single “SHINE” being her third single.

She is the third child of Rev Sam Eke and has 5 siblings. Her love for songs has brought out the creative ability in her and also,she is a round owner and designer of RealJoy beads and accessories.

Real Joy – Shine

David Yte – Ibuchukwu (You Are God) [Mp3, Lyrics, Wiki, Bio]

David Yte, formerly a secular musician, whom got delivered by God in the year 2008 and has since gone into Gospel Music fully, has released his worship single titled IBUCHUKWU.

IGC is what David Yte calls the genre of his music and it’s simply and acronym for Inspirational Gospel Contemporary. A blend o Soul, Classical Jazz and Indigenous Blues. His message is purely Worship to God.

Ibuchukwu means YOU ARE GOD.

David Yte – Ibuchukwu (You Are God)

The Biography Of TBoss (BBN) [Age, Life Profile & Net Worth]

TBoss is a Nigerian entertainer, she hails from Edo State, Nigeria. TBoss is one of the housemates in Big Brother Naija 2017 television shows.

When she was in primary school boarding, she struggled with loneliness and making friends, often attracting the wrong crowd.

TBoss dad was very strict and tough on her and her siblings but her mom was always soft spoken and sweet.

TBoss studied at the University of Lagos for nine months before going to Romania to complete her studies. She’s an occasional drinker.

• An Uzomedia Biography

Ex-IMF chief Rato, already in dock, accused of ‘tax fraud’…Read full details

IMF chief Rodrigo Rato

Former IMF chief Rodrigo Rato stands accused of tax fraud carried out in his native Spain over more than a decade, according to a report Wednesday detailing charges that come atop another ongoing trial for embezzlement.

Rato, who was Spain’s economy minister from 1996 to 2004 and led the International Monetary Fund from 2004 to 2007, failed to declare “a little more than 14 million euros (15 million dollars) in earnings from 2004 to 2015 inclusive”, the report by the tax authority’s fraud investigation division (ONIF) said, according to El Pais newspaper.

Half of the undeclared income — some 6.8 million euros — was concealed deliberately in a tax evasion system involving several companies, it said.

Four firms — two based in Panama, one in Britain and another in Spain — “were used to hide revenues and financial holdings from tax authorities, and the beneficiary was effectively Mr. Rodrigo Rato”, ONIF said.

The fraud investigation, which took two years to complete, was delivered to a Spanish judge in January.

Rato, once a star of Spain’s rightwing Popular Party, is also awaiting the verdict in a high-profile embezzlement case.

He is accused of overseeing a system while at Spain’s Caja Madrid and then at Bankia that helped him and 64 others also on trial to use funds on items such as parties and luxury shopping without justifying or declaring the spending.

Altogether, they allegedly spent 12 million euros between 2003 and 2012 — sometimes splashing out at the height of Spain’s devastating economic crisis.

Rato has denied any wrongdoing in that case, and told El Pais the current claims made by the anti-fraud unit contained “false or erroneous information” and that he would answer the recent charges.

The Biography Of Uriel (Big Brother Naija) [Age, Life Profile & Net Worth]

Uriel (born 1988) is a Nigerian entertainer. She was born in Hammersmith, England, Uriel was sent to Nigeria soon after birth. She has four very diverse brothers ranging from serious business man to one that’s really cool, complete with hair and beads.

Uriel is spontaneous, passionate with a nurturing nature too! She loves to cook, but hates cleaning up after cooking. She likes to think of herself as a master of organised mess!.

Uriel is one of the housemates in the 2017 Big Brother Naija television shows.

• An Uzomedia Biography

These Educative, Entertaining And Inspirational Pictures Will Blow Your Mind – 84

These are just pictures but they tell stories that will either Educate, Entertain or Motivate you…

The Biography Of Efe (Big Brother Naija) [Age, Life Profile & Net Worth]

Efe is a Nigerian entertainer, he is one of the housemates in the 2017 Big Brother Naija television shows. Efe moved to Lagos because it is “where it all happens’’ and worked his way up to earn recognition.

Efe is a graduate in Economics, he enjoys cooking and is confident his easy-flowing attitude will help him win over Housemates’ plots.

• An Uzomedia Biography