conflict – Artifex.News https://artifex.news Stay Connected. Stay Informed. Tue, 18 Jun 2024 03:53:28 +0000 en-US hourly 1 https://wordpress.org/?v=6.6 https://artifex.news/wp-content/uploads/2023/08/cropped-Artifex-Round-32x32.png conflict – Artifex.News https://artifex.news 32 32 Dozens Of N Korea Soldiers Cross Border, Get Injured After Landmines Explode https://artifex.news/dozens-of-n-korea-soldiers-cross-border-get-injured-after-landmines-explode-5913425/ Tue, 18 Jun 2024 03:53:28 +0000 https://artifex.news/dozens-of-n-korea-soldiers-cross-border-get-injured-after-landmines-explode-5913425/ Read More “Dozens Of N Korea Soldiers Cross Border, Get Injured After Landmines Explode” »

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About 20 North Korean soldiers crossed the border in that incident, said the Joint Chiefs of Staff.

Seoul:

Dozens of North Korean soldiers briefly crossed the heavily fortified border with the South on Tuesday and retreated after warning shots were fired, Seoul’s military said, adding landmine explosions had injured Pyongyang’s troops in the area.

It is the second such incident involving North Korean troops in two weeks, with Seoul’s Joint Chiefs of Staff saying they believed the Tuesday crossing — like a previous one on June 9 — was accidental.

The two Koreas remain technically at war as the 1950-1953 conflict ended in an armistice not a peace treaty, with the demilitarized zone and line of control dividing the peninsula one of the most heavily mined places in the world.

“Dozens of North Korean troops crossed the Military Demarcation Line today… (and) retreated northwards after warning shots” were fired, a JCS official said. 

Seoul’s military also said Tuesday that several North Korean soldiers had been injured when a landmine exploded near the border, without revealing the date.

The North Koreans were working on creating “barren land” and laying mines along the border, an official from the JCS said, but ended up “suffering multiple casualties from repeated landmine explosion incidents during their work”. 

Even so, the North’s military “appear to be recklessly pressing ahead with the operations,” the official said.

This year, North Korea has been working to remove streetlights from roads and dig up railway tracks that connected the two countries when ties were better, they added.

Since April, North Korea has deployed troops along the front line “to create barren land”, the official said, adding the North was also laying more landmines, reinforcing tactical roads, and adding what appeared to be anti-tank barriers.

“North Korea’s activities seem to be a measure to strengthen internal control, such as blocking North Korean troops and North Koreans from defecting to the South,” the JCS official said.

The vast majority of North Koreans who escape the country first go to China before making their way to the South, usually via another country, with only a handful ever managing to cross the DMZ, which is riddled with landmines and has a heavy military presence on both sides.

 June 9 incident 

The incident comes as North Korea prepares to receive Russian President Vladimir Putin for a rare state visit likely to boost defence ties between the two isolated countries.

On June 9, Seoul said that North Korean soldiers briefly crossed the line that separates the two militaries — saying it happened in an overgrown area of the heavily fortified border area and was likely accidental.

About 20 North Korean soldiers crossed the border in that incident, according to the Joint Chiefs of Staff.

Relations between the two Koreas are at one of their lowest points in years.

In recent weeks, North Korea has sent more than a thousand balloons laden with trash including cigarette butts and toilet paper southward — a response, it says, to balloons carrying anti-Pyongyang propaganda sent north by activists.

In response, the South Korean government has suspended a 2018 tension-reducing military deal and restarted loudspeaker propaganda broadcasts along the border, infuriating the North, which warned Seoul was creating “a new crisis”.

“The recent increase in the entry of North Korean military into the DMZ (Demilitarized Zone) is due to the need for mine clearance and surveying for the installation of barriers,” Ahn Chan-il, a defector-turned-researcher who runs the World Institute for North Korea Studies, told AFP. 

“Engineering and observation units have increased their presence in the area. It is believed that the disorderly actions of those who are unfamiliar with the minefields have led to these mine-related accidents.” 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Gaza Aid Shipments Halted After Damage To US Military Pier https://artifex.news/israel-palestine-us-halts-gaza-aid-shipments-due-to-pier-damage-by-bad-weather-5768490/ Wed, 29 May 2024 02:50:41 +0000 https://artifex.news/israel-palestine-us-halts-gaza-aid-shipments-due-to-pier-damage-by-bad-weather-5768490/ Read More “Gaza Aid Shipments Halted After Damage To US Military Pier” »

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The damage is the latest setback to the pier, which opened two weeks ago.

Washington:

The US military has suspended aid deliveries into the Gaza Strip by sea, the Pentagon said on Tuesday, after its temporary pier was damaged by bad weather.

Deputy Pentagon Press Secretary Sabrina Singh told reporters high seas and a North African weather system had caused a section of the pier to come away on Tuesday morning.

“The rebuilding and repairing of the pier will take at least over a week, and, following completion, will need to be re-anchored to the coast of Gaza,” she said.

“Thus, upon completion of the pier repair and reassembly, the intention is to re-anchor the temporary pier to the coast of Gaza and resume humanitarian aid to the people who need it most.”

The damage is the latest setback to the pier, which opened two weeks ago.

US Central Command (CENTCOM) said Saturday four US Army vessels supporting the pier broke free from their moorings and ran aground in heavy seas.

Two beached in Gaza while the other two washed up on the coast of Israel, 30 miles (50 kilometers) south of Tel Aviv. One has been recovered and the other three will be brought back in within 48 hours, Singh said.

Gaza is suffering through its bloodiest ever war, which broke out after Hamas’s unprecedented October 7 attack on Israel resulted in the deaths of more than 1,170 people, mostly civilians, according to an AFP tally of official figures.

Israel’s retaliatory offensive has killed at least 35,800 people in Gaza, mostly women and children, according to the Hamas-run territory’s health ministry.

Israel has imposed a siege on Gaza that has deprived the territory’s 2.4 million people of most clean water, food, medicines and fuel.

US President Joe Biden had said in March the pier would be built to alleviate restrictions imposed by Israel on aid delivery by land to Gaza.

CENTCOM said 1,005 metric tons of aid had been delivered from the sea to the beach transfer point as of Friday, with 903 metric tons distributed from the transfer point to the UN warehouse.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Watch | Israel’s Rafah invasion | Explained https://artifex.news/article68190272-ece/ Sat, 18 May 2024 12:25:56 +0000 https://artifex.news/article68190272-ece/ Read More “Watch | Israel’s Rafah invasion | Explained” »

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The pre-war population of Rafah, the southernmost city of the Gaza strip sharing a border with Egypt’s Sinai Peninsula, was 1,70,000. Today, seven months after Israel launched its war on Gaza, as many as 1.5 million people are living in Rafah. Many of them are camped on the streets and beaches, while others are cramped into filthy, overcrowded makeshift shelters.

Rafah is now a “gigantic refugee camp”, says the Norwegian Refugee Council. According to a doctor who served in Rafah, the city is a “closed jail”. Medics are struggling to supply even basic aid and prevent the outbreak and spread of diseases. According to Action Aid, every single person in Gaza “is now hungry and people have just 1.5 to 2 litres of unsafe water per day to meet all their needs”. A majority of Gaza’s population is now jammed in Rafah. It is in this Rafah, Israel is carrying out its latest offensive.

Rafah has always been a flashpoint in the Israel-Palestine conflict, given its territorial proximity to Egypt. After the 1948 Arab-Israel war, Rafah came under Egyptian rule along with other parts of the Gaza Strip. Tens of thousands of Palestinians who were displaced from their homes when Israel was created were settled in Gaza.

During the Suez Crisis, Rafah came under attack when the Israeli troops were marching towards Sinai through Gaza. On November 12, 1956, the IDF raided a refugee camp in Rafah, killing at least 111 Palestinians, which came to be known as the Rafah massacre.

After the Six-Day War of 1967, the entire Gaza, including Rafah, came under Israel’s direct military occupation. Israel would retain its direct control over the enclave until 2005.

After the latest war began on October 7, 2023, Israel ordered over 1 million Palestinians living in the northern Gaza to evacuate. Most of them fled their homes and moved to southern cities such as Khan Younis and Rafah. When Khan Younis was attacked, there was another flight of refugees towards the south. Today, the lion’s share of Rafah’s population are internally displaced Palestinians.

Before Israel launched the Rafah offensive, there were dramatic developments. The U.S. had warned Israel against launching a full-scale invasion of Rafah, arguing that such an attack would kill more Palestinian civilians. But Prime Minister Benjamin Netanyahu has vowed that Israel would go ahead with the plan to invade Rafah, defying international pressure, warnings and pleas. But Mr. Netanyahu is also under pressure to bring the remaining hostages back. Israel says 128 hostages abducted on October 7 are still in Hamas’s captivity, though many of them are feared dead. There are growing protests in Israel, asking the government to strike a deal with Hamas to bring the hostages back. Israel and Hamas, helped by mediators such as the U.S., Egypt and Qatar, had held multiple rounds of talks in Cairo for a ceasefire deal.

While the fine details of the ceasefire proposal were not made public yet, reports in Egyptian and Saudi media suggested that the mediators had proposed a three-phase deal that would see the release of all hostages and Palestinian prisoners and eventually bring the war to an end. In the first phase, Israel was expected to cease fire for 40 days and free Palestinian prisoners in return for the release of 33 hostages.

In the second phase, the ceasefire would be extended by 42 more days, while all the remaining living hostages would be released.

The third phase proposals were the most contentious. Israel wanted Hamas to release the bodies of all hostages and Hamas wanted a comprehensive, lasting ceasefire and full withdrawal from Gaza.

Israel says no to both Hamas demands. Israeli troops have been deployed in northern and central Gaza, effectively carving the northern tip of the strip as a buffer zone between Israel proper and Gaza’s population. If the Israeli troops withdraw from Gaza, Israeli officials say, Palestinians as well as Hamas militants would return to the areas close to the Israeli border. And if Israel agrees to a lasting ceasefire, the remaining Hamas battalions would survive.

When Israel launched the war on October 7, it made its twin objectives public: dismantle Hamas and release the hostages. Seven months after the war, in which roughly 35,000 Palestinians have been killed, Israel has not met either of the objectives. One practical solution to the hostage crisis is to strike a deal with Hamas. But Hamas would release the hostages only in return for a ceasefire. And if Israel agrees for a ceasefire, Hamas would survive. This is the dilemma Mr. Netanyahu is facing.

Earlier, Biden administration officials had said Hamas was the major stumbling block for a ceasefire. Secretary of State Antony Blinken stated on May 4 that “the only thing standing between the people of Gaza and a ceasefire is Hamas”. But on May 6, Hamas’s Doha-based leader Ismail Haniyeh said the group accepted the ceasefire proposal suggested by the mediators in Cairo. The Hamas announcement came hours after the Israeli Defence Forces (IDF) ordered at least 100,000 Palestinians to evacuate from Rafah. Mr. Netanyahu’s government immediately rejected the Hamas offer, saying it did not meet Israel’s core demands. The Prime Minister later said Israel would never agree to end the war in Gaza as part of a deal with Hamas.

Mr. Netanyahu’s tough line on Rafah has created tensions in Israel’s ties with the U.S. Earlier President Biden had said a full-scale attack on Rafah without a proper plan to protect civilians would be a redline for him. The United Nations has repeatedly warned that any attack on the overcrowded Rafah would lead to a humanitarian catastrophe. If he abandons the plan to attack Rafah and cuts a deal with Hamas for hostages, Netanyahu’s government could fall as his far-right allies such as Itamar Ben-Gvir and Bezalel Smotrich have already warned against such a move. If he goes ahead with the plan to invade Rafah, more Palestinian civilians would be killed, Israel would further be isolated globally and tensions would rise in ties with the U.S. But Mr. Netanyahu doesn’t seem to bother.

“If Israel has to stand alone, it will stand alone,” he said on May 10, less than a month after American, British, French and Jordanian defence systems, along with the IDF, shot down most of the drones and cruise and ballistic missiles launched by Iran towards Israel.

Read more: Rafah | Opening the gates of hell

Read more: Israel’s ‘limited’ military operation in Rafah | Explained

Script and presentation: Stanly Johny

Video: Thamodharan B.

Production: Ravichandran N.



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Watch | Two years of Russia-Ukraine war: How Russia and the world are changing https://artifex.news/article67924695-ece/ Thu, 07 Mar 2024 12:23:30 +0000 https://artifex.news/article67924695-ece/ Read More “Watch | Two years of Russia-Ukraine war: How Russia and the world are changing” »

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Two years on, where does the Ukraine war stand?

Russia’s war in Ukraine has entered its third year. What many thought on February 24, 2022 would be a swift Russian military operation against its smaller neighbour has turned out to be the largest land war in Europe since the end of the Second World War. This is no longer about Russia and Ukraine. This is now a proxy conflict between Russia and NATO, a trans-Atlantic nuclear alliance. Two years since the war began, where does it stand today, and how it’s transforming Russia and the world?

If one looks back at the beginning of the war, it’s not difficult to see that President Vladimir Putin made a grave strategic miscalculation when he ordered the invasion of Europe’s second largest country with less than 2,00,000 troops. Mr. Putin probably expected a quick victory, like he did in Georgia in 2008 and Crimea in 2014. But that did not happen.

In 2022, Russians were forced to retreat from Kharkiv and Kherson. The West doubled down on its military and economic support for Ukraine. Russia had declared “demilitarisation” and “denazification” of Ukraine as their objectives. Ukraine wanted to push back the invading troops and recapture the lost territories, including Crimea. The West wanted to use Ukrainian forces to bleed out Russian troops and weaken Russia as a great power. The wheels of war were grinding on. Who is meeting their objectives today?

Ukraine last year launched an ambitious counteroffensive with advances weapons from the West. Their plan was to make swift advances into Russia’s line of defence in the south and destroy Mr. Putin’s land bridge that connects the Donbas with Crimea.

Eight months after counteroffensive began, it’s now evident that the campaign has failed. Gen. Velery Zaluzhnyi, Ukraine’s former commander in chief who was fired by President Zelensky, had called for a mass mobilisation, suggesting that Ukraine was facing acute shortage of fighters on the frontline. They lost many of their West-supplied weapons in the counteroffensive and are waiting for fresh supplies. Ukraine is almost entirely dependent on the West for critical supplies, but aid from the U.S., the single largest supporter of Ukraine, is stuck in Congress amid growing Republican opposition.

On the other side, the Russians are on the offensive. In December, Russia claimed its first victory since the capture of Bakhmut in May when it seized Maryinka. Earlier this month, Ukraine was forced to abandon Avdiivka, a strategically important town in Donetsk. The Russians are now advancing westward in Donetsk and piling up pressure on Ukrainian forces in Krynky, Kherson, in the south.

The message from the battlefield is alarming for Ukraine and its partners in the West.

Take a look at the West’s strategy. The West, or NATO to be specific, had taken a two-fold approach towards Ukraine. One was to provide economic and military assistance to Kyiv to keep the fight against Russia going on; and the second leg was to weaken Russia’s economy and war machine through sanctions. With Ukraine’s failed counteroffensive and a changing political climate in Washington with the prospect of a second Trump presidency looming, the first pillar of this policy faces uncertainty, if not absolute peril. The second pillar, sanctions, has hurt Russia badly. Western officials believe that sanctions have deprived Russia of over $430 billion in revenue it would otherwise have gained since the war began. Europe has also curtailed its energy purchases from Russia. Sanctions have also made it difficult for Moscow to acquire critical technologies, including microchips, which are necessary for its defence industry.

But this is not the whole story.

Russia has found several ways to work around sanctions and keep its economy going. When Europe cut energy sales, Russia offered discounted crude oil to big growing economies such as China, India and Brazil. It amassed a ghost fleet of ships to keep sending oil to its new markets without relying on western shipping companies and insurers. It set up shell companies and private corporations operating in its neighbourhood (say Armenia or Turkey) to import dual use technologies which were re-exported to Russia to be used in defence production. China, the world’s second largest economy, ramped up its financial and trade ties with Russia, including the export of dual use technologies. Russia moved away from the dollar to other currencies, mainly the Chinese yuan, for trade, and boosted defence and public spending at home (its defence budget was raised by nearly 70% this year).

Does it mean that everything is going well for Mr. Putin? No it doesn’t.

Since the war began, two countries in its neighbourhood, Sweden and Finland, have joined NATO, expanding the alliance’s border with Russia. Now, if you look at the Baltic Sea, all basin countries, except Russia, are practically NATO members, which makes it look like a NATO lake.

Mr. Putin spent years, after coming to power, to build strong economic ties with Europe, which are now in tatters. Russia’s hold on its immediate neighbourhood is also loosening, which was evident in tensions with Armenia and the latter’s decision to freeze participation in the Moscow-led Collective Security Treaty Organization (CSTO). Russia is also increasingly becoming dependent on China, even though the Kremlin is careful not to upset the sensitivity of New Delhi.

But how does India look at the war?

India’s ties with Russia have multi-dimensions. While the energy aspect of this partnership, which flourished after the war, is seen largely opportunistic, the defence side is structural. India also sees Russia, a Eurasian powerhouse, as an important long-term strategic partner in tackling its continental challenges. But the elephant in the room was China.

Russia’s deepening ties with China triggered different arguments on India’s choices. One section argued that the growing synergy between Russia and China should serve as a wake-up call for India to revisit its Russia policy. Others, including yours truly, argued that India would be wary of pushing Russia deeper into China’s embrace by toeing the anti-Russian Western line.

External Affairs Minister S. Jaishankar explained India’s thinking on this matter at the Raisina Dialogue recently. The world must give Russia more options, rather than “closing doors” on it and pushing it towards a closer embrace with China, Mr. Jaishankar said. The Minister’s comments underscored India’s concerns about a deepening China-Russia partnership, but his policy prescriptions were nuanced. “What’s happened today with Russia is essentially a lot of doors have been shut to Russia in the West,” he said. “We know the reasons why Russia is turning to parts of the world which are not West. Now, I think it makes sense to give Russia multiple options.”

Meaning, India’s ties with Russia are here to stay and expand, irrespective of what its western partners think of Moscow.

Script and presentation: Stanly Johny

Production: Richard Kujur



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US Clings To “Wrong Perception”, Yet To Fulfil Promises: China Minister https://artifex.news/us-clings-to-wrong-perception-promises-unfulfilled-says-foreign-minister-5192834/ Thu, 07 Mar 2024 07:59:50 +0000 https://artifex.news/us-clings-to-wrong-perception-promises-unfulfilled-says-foreign-minister-5192834/ Read More “US Clings To “Wrong Perception”, Yet To Fulfil Promises: China Minister” »

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China alleges the US is trying to contain and suppress its high-tech development.

Beijing:

The U.S. is clinging to wrong perceptions of China and has yet to fulfil its “promises” despite some progress since presidents Joe Biden and Xi Jinping met last November, China’s Foreign Minister Wang Yi said on Thursday.

Speaking at a news conference on the sidelines of an annual parliament meeting in Beijing, Wang said exchanges between both countries can only continue if both sides respect and recognize their differences.

“It has to be pointed out that the U.S. side’s erroneous perception of China continues, and the promises it has made have not really been fulfilled,” Wang said at the National People’s Congress.

“The methods of suppressing China are constantly being renewed, and the list of unilateral sanctions is constantly being extended,” he said.

The “crimes” the U.S. wanted to add to the list China had supposedly committed “have reached an unbelievable level,” Wang said.

Still, Biden had made it clear the U.S. would not seek a new Cold War nor seek to change the Chinese system or back Taiwan’s independence, Wang said.

In an annual and wide-ranging discussion, Wang struck a relatively measured tone as he also covered relations with Russia and the Ukraine conflict, Europe, China’s stuttering economy and artificial intelligence.

Wang said China would submit a draft resolution on AI to the United Nations General Assembly, reflecting the need for both development and security.

“AI should always be under the control of human beings,” he said.

UNEASY DETENTE

Tensions between the two superpowers have slightly eased since Biden and Xi staged their landmark summit in San Francisco last November, but they remain in an uneasy detente ahead of the U.S. election this year which could see Republican China hawk Donald Trump return to the White House.

Washington has repeatedly stated its desire to put a floor under the relationship after it spiralled to its worst in decades last year over issues including Taiwan, tech competition, trade and an alleged Chinese spy balloon shot down by the U.S. off its east coast.

China alleges the U.S. is trying to contain and suppress its high-tech development and industrial policy, while both militaries eye each other closely amid increased deployments across East Asia.

“So we urge the U.S. to understand the historical development trend, objectively and rationally look at China’s development (and) actively and pragmatically carry out interactions with China.”

Beijing also faces ongoing geopolitical confrontations on multiple fronts, including with Europe on trade and the Ukraine war, Japan across a variety of issues, as well as the Philippines over the South China Sea, a regional hotbed of competing territorial claims.

Wang said China is willing to work with Russia to foster new drivers of cooperation and consolidate friendship.

China and Russia had declared a “no limits” partnership in February 2022 when Putin visited Beijing just days before he sent tens of thousands of troops into Ukraine, triggering the deadliest land war in Europe since World War Two.

Wang also announced an expansion of its visa-free travel scheme, saying that China will offer visa-free travel to nationals from Switzerland, Ireland, Hungary, Austria, Belgium and Luxembourg from March 14.

China currently has a mutual visa waiver agreement with 22 countries, including most recently Thailand, Singapore and Malaysia.

China has also unilaterally allowed visa-free entry for citizens from nations such as Germany, France, Spain, the Netherlands and Italy for 15 days. Those five European nations have yet to reciprocate with a similar arrangement for Chinese citizens.
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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How Nigeria’s naira fell to record low amid conflict and instability https://artifex.news/article67856634-ece/ Sat, 17 Feb 2024 07:36:04 +0000 https://artifex.news/article67856634-ece/ Read More “How Nigeria’s naira fell to record low amid conflict and instability” »

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Nigerians are facing one of the West African nation’s worst economic crises in years triggered by surging inflation, the result of monetary policies that have pushed the currency to an all-time low against the dollar. The situation has provoked anger and protests across the country.

The latest government statistics released Thursday showed the inflation rate in January rose to 29.9%, its highest since 1996, mainly driven by food and non-alcoholic beverages. Nigeria’s currency, the naira, further plummeted to 1,524 to $1 on Friday, reflecting a 230% loss of value in the last year.

“My family is now living one day at a time (and) trusting God,” said trader Idris Ahmed, whose sales at a clothing store in Nigeria’s capital of Abuja have declined from an average of $46 daily to $16.

The plummeting currency worsens an already bad situation, further eroding incomes and savings. It squeezes millions of Nigerians already struggling with hardship due to government reforms including the removal of gas subsidies that resulted in gas prices tripling.

Nigeria’s economy

With a population of more than 210 million people, Nigeria is not just Africa’s most populous country but also the continent’s largest economy. Its gross domestic product is driven mainly by services such as information technology and banking, followed by manufacturing and processing businesses and then agriculture.

The challenge is that the economy is far from sufficient for Nigeria’s booming population, relying heavily on imports to meet the daily needs of its citizens from cars to cutlery. So it is easily affected by external shocks such as the parallel foreign exchange market that determines the price of goods and services.

File picture of a man counting Nigerian naira notes in a market place in Yola, Nigeria
| Photo Credit:
Reuters

Nigeria’s economy is heavily dependent on crude oil, its largest foreign exchange earner. When crude prices plunged in 2014, authorities used its scarce foreign reserves to try to stabilise the naira amid multiple exchange rates. The government also shut down the land borders to encourage local production and limited access to the dollar for importers of certain items.

The measures, however, further destabilised the naira by facilitating a booming parallel market for the dollar. Crude oil sales that boost foreign exchange earnings have also dropped because of chronic theft and pipeline vandalism.

Monetary reforms implementation

Shortly after taking the reins of power in May last year, President Bola Tinubu took bold steps to fix the ailing economy and attract investors. He announced the end of costly decadeslong gas subsidies, which the government said were no longer sustainable. Meanwhile, the country’s multiple exchange rates were unified to allow market forces to determine the rate of the local naira against the dollar, which in effect devalued the currency.

Analysts say there were no adequate measures to contain the shocks that were bound to come as a result of reforms including the provision of a subsidized transportation system and an immediate increase in wages.

So the more than 200% increase in gas prices caused by the end of the gas subsidy started to have a knock-on effect on everything else, especially because locals rely heavily on gas-powered generators to light their households and run their businesses.

Why naira is plummeting

Under the previous leadership of the Central Bank of Nigeria, policymakers tightly controlled the rate of the naira against the dollar, thereby forcing individuals and businesses in need of dollars to head to the black market, where the currency was trading at a much lower rate.

There was also a huge backlog of accumulated foreign exchange demand on the official market — estimated to be $7 billion — due in part to limited dollar flows as foreign investments into Nigeria and the country’s sale of crude oil have declined.

Authorities said a unified exchange rate would mean easier access to the dollar, thereby encouraging foreign investors and stabilising the naira. But that has yet to happen because inflows have been poor. Instead, the naira has further weakened as it continues to depreciate against the dollar.

What authorities are doing

CBN Gov Olayemi Cardoso has said the bank has cleared $2.5 billion of the foreign exchange backlog out of the $7 billion that had been outstanding. The bank, however, found that $2.4 billion of that backlog were false claims that it would not clear, Cardoso said, leaving a balance of about $2.2 billion, which he said will be cleared “soon.”

Tinubu, meanwhile, has directed the release of food items such as cereals from government reserves among other palliatives to help cushion the effect of the hardship. The government has also said it plans to set up a commodity board to help regulate the soaring prices of goods and services.

On Thursday, the Nigerian leader met with state governors to deliberate on the economic crisis, part of which he blamed on the large-scale hoarding of food in some warehouses.

“We must ensure that speculators, hoarders and rent seekers are not allowed to sabotage our efforts in ensuring the wide availability of food to all Nigerians,” Tinubu said.

By Friday morning, local media were reporting that stores were being sealed for hoarding and charging unfair prices.

How Nigerians are coping

The situation is at its worst in conflict zones in northern Nigeria, where farming communities are no longer able to cultivate what they eat as they are forced to flee violence. Pockets of protests have broken out in past weeks but security forces have been quick to impede them, even making arrests in some cases.

In the economic hub of Lagos and other major cities, there are fewer cars and more legs on the roads as commuters are forced to trek to work. The prices of everything from food to household items increase daily.

“Even to eat now is a problem,” said Ahmed in Abuja. “But what can we do?”



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Commander Of Russia’s Black Sea Fleet Killed In Missile Strike, Says Kyiv https://artifex.news/commander-of-russias-black-sea-fleet-killed-in-missile-strike-says-kyiv-4422217/ Mon, 25 Sep 2023 12:14:20 +0000 https://artifex.news/commander-of-russias-black-sea-fleet-killed-in-missile-strike-says-kyiv-4422217/ Read More “Commander Of Russia’s Black Sea Fleet Killed In Missile Strike, Says Kyiv” »

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Thirty-four officers were killed, including the commander of the Black Sea fleet. (File)

Kyiv:

Ukraine claimed Monday it had killed the commander of Russia’s Black Sea fleet in an unprecedented missile strike on the naval headquarters in the annexed Crimean peninsula last week.

“Thirty-four officers were killed, including the commander of the Black Sea fleet. Another 105 occupants were wounded. The headquarters are beyond repair,” Ukraine’s special forces said in a statement on social media.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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