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Lesetja Kganyago joins IMF policy board

first_imgReserve Bank governor Lesetja Kganyago is the new chair of the International Monetary Fund’s International Monetary and Financial Committee; in his new role, Kganyago will help to shape global development policy.Lesetja Kganyago’s appointment to the IMFC means a new viewpoint in IMF policy discussions. (Image: YouTube)Sulaiman PhilipThe recent appointment of South African Reserve Bank (SARB) governor Lesetja Kganyago as chair of the influential International Monetary and Financial Committee (IMFC) will give developing economies a voice in policy deliberations at the International Monetary Fund.As the first committee chair from sub-Saharan Africa, Kganyago is expected to push for a more equitable share of international trade for developing economies. Congratulating him on his appointment, Yunus Carrim, chairperson of Parliament’s Standing Committee on Finance, said: “We do not doubt that he will focus on the challenges of the developing countries.”With Kganyago as chair of the IMFC there is an expectation that IMF policies will benefit developing economies. At a June 2017 dinner to honour diplomats posted to South Africa, Kganyago pointed out that a change in thinking had begun at the IMF already. “There is little doubt that progress is being nade in building a more resilient global financial architecture.“The IMF is currently reviewing its lending toolkit to make it more relevant and more balanced, and to also work towards closing the existing gaps within the global financial safety net. Numerous discussions are also continuing on developing macroprudential policies and devising ways of improving the availability and quality of relevant data to enhance economic policy formulation and implementation.”Lesetja Kganyago’s experience makes him a well-informed and valuable addition to the IMFC. (Image: IMF /Stephen Jaffe)Diverse viewsIn April 2017, Finance Minister Malusi Gigaba called for more sub-Saharan representation on IMF decision-making bodies. His call stemmed from the concerns of 23 sub-Saharan countries over the protectionists trade policies being introduced globally that impacted negatively on emerging and developing African economies.The minister acknowledged that IMF policies had benefitted women and people most likely to bear the brunt of climate change. To build on those gains, the IMF needed more diversity among the people who drove policy decisions. “Diversifying the staff will enhance the Fund’s effectiveness. The Fund needs to increase focus on both recruitment and retention of nationals from underrepresented regions to ensure the benchmarks are attained. We call on the IMF to expand the pool of institutions to include universities in Africa and [urge] that this translates into actual hiring of African nationals.”At the diplomatic dinner in June last year Kganyago underlined the importance of the IMF to ongoing growth across the globe after the 2008 financial crisis. Along with other international funders, the IMF had a hand in the gains made in developed and emerging economies.However, he told the diplomats, protectionist economic policies in developed nations threatened the growth of global trade. “More aggressive monetary policy actions than currently anticipated could tighten global financial conditions, causing disruptions to capital flows to emerging markets and developing economies like South Africa.”Kganyago explained that the revolving G20 presidency and the makeup of the BRICS bloc gave them a more diverse understanding of challenges faced by multiple populations. These groups were able to formulate policies that poitively affected both developed and emerging economies.In the announcement of his appointment, the IMF highlighted his work at SARB and SARS which included research and implementation of public finance and financial market programmes in developing economies. The IMFC is the most important advisory committee of the International Monetary Fund (IMF), it is in this committee that issues are deliberated before they become policy of the global development funder, his experience made him a well-informed and valuable addition to the IMFC.Would you like to use this article in your publication or on your website? See Using Brand South Africa material.last_img read more

West Coast Dockers Union will meet to consider early contract negotiations

first_imgShare Facebook Twitter Google + LinkedIn Pinterest The International Longshore and Warehouse Union (ILWU), which represents about 20,000 dock workers at 29 West Coast ports, will meet Aug. 10-12 in San Francisco to decide whether to begin talks now on an extension of its contract with the Pacific Maritime Association (PMA), which represents port facilities owners. The PMA and ILWU signed a five-year contract in early 2015 — retroactive to July 1, 2014 — after protracted labor talks and a nearly four-month work slowdown that negatively affected U.S. exporters. The U.S. meat and poultry sectors lost an estimated $40 million a week during the slowdown.The National Pork Producers Association and 112 other trade associations in March sent a letter to the ILWU and the PMA, urging them to begin early discussions on a contract extension or a new contract. The groups, representing manufacturers, farmers and agribusinesses, wholesalers, retailers, importers, exporters, distributors, transportation and logistics providers and other supply chain stakeholders, also suggested the two sides develop a new model, including early and continuous dialogue between the parties, for future negotiations and called on the union and the port association “to avoid actions that would slow, stop, or disrupt cargo movement during negotiations.” (The International Longshoremen’s Association, representing East Coast and Gulf Coast dock workers already has begun talks on an extension of its current contract, which expires in September 2018.)last_img read more

Akhilesh hits pay dirt with alliances

first_imgAfter facing criticism that it favours only Yadavs while in power, the Samajwadi Party (SP) is now attempting social engineering in Uttar Pradesh through a rainbow coalition of smaller backward and Dalit castes, to challenge the BJP in the 2019 Lok Sabha elections.The support of the Bahujan Samaj Party proved decisive for the SP in winning the Gorakhpur and Phulpur seats in the recent Lok Sabha byelections.The two parties are yet to reach a full-fledged alliance, but the byelection win was the first victory for Mr. Akhilesh’s experiment in social engineering.A gambleIn Gorakhpur, the SP gambled on an outsider — Pravin Nishad, 29, son of Nishad Party president Sanjay Nishad, who commands a considerable presence among the riverine Mallah caste (OBC) and its various sub-castes such as Nishad and Kewats in eastern U.P. The alliance in Gorakhpur was not a one-off though. The Nishad Party had, in December 2017, extended full support to the SP in the Sikandra Assembly byelection in Kanpur. The SP lost the seat but made huge gains in vote share. In the 2017 Assembly election, the Nishad Party managed to secure over 5.4 lakh votes in the 72 seats it contested, mostly in Purvanchal, and is capable of turning the results in favour of the SP.Another major caste the SP has been wooing is the Pasi community, the second largest Dalit caste in U.P. After roping in former BSP general secretary and Pasi face of the BSP Inderjeet Saroj last September, the SP soon inducted another prominent caste leader and BSP founder, R.K. Chaudhary, and former Minister Shyamlal Rawat. Their entry strengthens the SP in the Allahabad-Lucknow region.Mr. Akhilesh has confirmed the support of the Janwadi Party (Socialist) Party, which commands a presence among the Noniya Chauhan caste in eastern Uttar Pradesh. Another important OBC caste bloc on the SP’s radar is the Maurya (Kushwaha-Sakhya-Saini) community. Naval Kishore, son-in-law of Swami Prasad Maurya, State Minister and former OBC face of the BSP, joined the SP on Saturday.last_img read more

Gambhir named ODI captain as Dhoni, Tendulkar, Sehwag rested

first_imgGautam Gambhir was on Saturday named captain of the Indian team for the first two matches of the ODI series against New Zealand starting on November 28 with the selectors opting to rest five senior players, including regular skipper Mahendra Singh Dhoni.Dhoni, Virender Sehwag, Sachin Tendulkar, Zaheer Khan and Harbhajan Singh were not considered due to injury concerns as a 14-member ODI squad was announced after a selection committee meeting in Nagpur.”M.S. Dhoni, Virender Sehwag, Sachin Tendulkar, Zaheer Khan and Harbhajan Singh were not considered due to injury concerns, which require attention and rehabilitation,” BCCI secretary N Srinivasan said in a statement.Rohit Sharma, Shikhar Dhawan and Ashish Nehra, who were part of the squad for the ODI series against Australia last month, were left out.Wicket-keeper Wriddhiman Saha, Ravindra Jadeja, Yusuf Pathan and S Sreesanth were recalled to the ODI sqaud.The selectors also announced the Test team for India’s tour of South Africa next month with Dhoni as the captain and all the other four senior players rested for the ODI series against New Zealand returning.Saha also found a place in the 17-man Test squad, the same as paceman Umesh Yadav.Jaydev Unadkat, who was named in place of Zaheer Khan for the ongoing third Test against New Zealand here, was also retained in the squad.Team for first two ODIs against New Zealand: Gautam Gambhir (captain), Murali Vijay, Virat Kohli, Yuvraj Singh, Suresh Raina, Sourav Tiwary, Wriddhiman Saha (wicketkeeper), R Ashwin, Praveen Kumar, R Vinay Kumar, Munaf Patel, S Sreesanth, Yusuf Pathan, Ravindra Jadeja.advertisementTeam for Test Series against South Africa: Mahendra Singh Dhoni (captain), Virender Sehwag (vice-captain), Gautam Gambhir, Rahul Dravid, Sachin Tendulkar, VVS Laxman, Suresh Raina, Harbhajan Singh, Zaheer Khan, Ishant Sharma, S Sreesanth, Murali Vijay, Cheteshwar Pujara, Wriddhiman Saha, Jaydev Unadkat, Umesh Yadav, Pragyan Ojha.With inputs from PTIlast_img read more

Malaysia lottery outlets halt ‘hot’ bets on MH17-related numbers: Report

first_imgDa Ma Cai, Toto and Magnum outlets had stopped taking bets on the numbers 1717 and 777 since Friday. (Photo courtesy: blog.moneysmart.sg)Some Malaysian shops selling lottery tickets and illegal gambling syndicates have rejected “hot” bets on numbers linked to the downing of a Malaysia Airlines airliner.Da Ma Cai, Toto and Magnum outlets had stopped taking bets on the numbers 1717 and 777 since Friday, the Sunday Star said.Flight MH17, a Boeing 777, was downed on July 17 over Ukraine. All 298 people on board were killed.”We are not the only ones rejecting the numbers,” a worker at a Magnum outlet was quoted as saying. “Other outlets are also turning punters away.”A Reuters visit to Toto and Magnum outlets revealed 1717 was “sold out”, meaning further bets were off.Flight MH17, a Boeing 777, was downed on July 17 over Ukraine. All 298 people on board were killed.Gambling is hugely popular in Malaysia but strictly controlled with the four-digit lottery a favourite. Many Asian gamblers believe that numbers associated with bad luck, such as car numbers at an accident site, will later bring good luck.”The number 1717 has been sold out since yesterday. Too many people are buying,” a cashier working at a Berjaya Sports Toto Bhd outlet said.”It is not about bad taste or anything, it is just that too many people are buying the number,” a cashier working with Magnum Bhd said, adding that the company would have to pay out too much if the number came up.A member of an illegal syndicate also told the Star it had also stopped taking the bets because demand was so high.advertisement”Any digit placed in front or behind the number 777 was also not accepted,” the illegal syndicate member was quoted as saying. “This was the instruction from my boss.”last_img read more

Oklahoma State To The Playoff: Which Teams To Root For and Against

first_imgWhile you’re here, we’d like you to consider subscribing to Pistols Firing and becoming a PFB+ member. It’s a big ask from us to you, but it also comes with a load of benefits like ad-free browsing (ads stink!), access to our premium room in The Chamber and monthly giveaways.The other thing it does is help stabilize our business into the future. As it turns out, sending folks on the road to cover games and provide 24/7 Pokes coverage like the excellent article you just read costs money. Because of our subscribers, we’ve been able to improve our work and provide the best OSU news and community anywhere online. Help us keep that up. Oklahoma State is No. 10 in the CFB Playoff rankings this week with No. 8 OU on tap next weekend in Norman. A lot has to happen for OSU to slide through that back door and on into the CFB Playoff but maybe not as much as you think.Who should you be rooting for and against over the next two weeks for OSU to have a chance at nabbing the No. 4 seed? Let’s take a look at each team in the top 10 along with remaining schedules and point spreads for this weekend’s games. Note: You can play around with the scenarios here.No. 1 Alabama (11-0) (Auburn at home: -17, Florida in SEC title)I told Carson on our podcast on Wednesday that Alabama should just forfeit the Iron Bowl and SEC title game to save players from injury. It will still be in the CFB Playoff.Rooting: Doesn’t matterNo. 2 Ohio State (10-1) (Michigan at home: -6)This one is tricky. We want Michigan to win if Penn State beats Michigan State because then Michigan would go to the Big 10 title game (it beat Penn State earlier in the year).We are rooting for Ohio State or Michigan to win the Big 10 because if one of those schools wins the Big 10, the committee won’t be tempted to include them as a non-conference champion. Plus, Ohio State winning the Big 10 solves your OU-Ohio State Big 12 problem. If Michigan State beats Penn State then we are rooting for Ohio State to win this game and win the Big 10 because I think 10-2 Michigan is easier to leave out of the playoff than 10-2 Ohio State.The problem is that the Michigan State-Penn State game will be played after the Ohio State-Michigan game. So what’s more likely? Michigan beating Ohio State as a six-point underdog at Ohio State, or Michigan State beating Penn State at Penn State as a 12-point underdog and Ohio State beating Michigan? I think the Michigan beating Ohio State scenario is probably more likely but I’m fine with either.Rooting: For (if paired with Michigan State win), otherwise againstNo. 3 Michigan (10-1) (at Ohio State: +6)See above.Rooting: For … I think.No. 4 Clemson (10-1) (South Carolina at home: -25, ACC title against Va. Tech)As Carson pointed out recently, Clemson losing the ACC title game could get interesting. Are you taking a 10-2 Big 12 champion or a 11-2 non-ACC champion in Clemson? I think the committee might have to go with the Big 12 champ so I’m rooting against Clemson.Rooting: AgainstNo. 5 Washington (10-1) (at Washington State: -6)Oklahoma State and Oklahoma badly need Washington State to win this game. If Washington State wins this game, it goes to the Pac-12 title game against USC or Colorado. A 10-2 Washington team that didn’t win its own division is not getting into the playoff. Then if Washington State wins the Pac-12 it isn’t getting in either because it has three losses and lost to a FCS team.Rooting: Wildly againstNo. 6 Wisconsin (9-2) (home against Minnesota: -14)No. 7 Penn State (9-2) (home against Michigan State: -12)We went over the Big 10 scenarios above. I would prefer Wisconsin to lose this game just so the committee isn’t tempted to put them in the CFB Playoff with a 11-2 record as Big 10 champ along with, say, Ohio State. Penn State losing and Ohio State winning the Big 10 is the dream scenario this weekend because then the Big 10 would almost assuredly get only one team in.Rooting: AgainstNo. 8 Oklahoma (9-2) (Off, Bedlam)If you did not know, OSU needs OU to lose.No. 9 Colorado (9-2) (home against Utah: -9)If Colorado beats Utah then it is in the Pac-12 title game. If it wins the Pac-12 title game it could get in the CFB Playoff with a 11-2 record. The better scenario for Oklahoma State? Utah beating Colorado allowing USC (with three losses) into the Pac-12 title game and then USC winning that Pac-12 title game. A three-loss USC getting in the playoff over a two-loss Big 12 team? Get all the way out of here with that. Furthermore, if you pair this with a WSU win in the Apple Cup, you would have two three-loss teams playing for the Pac-12 title.Rooting: AgainstBottom line is this: The map for Oklahoma or Oklahoma State getting into the CFB Playoff is Alabama winning out, Virginia Tech beating Clemson in the ACC title game, three-loss USC or Washington State winning the Pac-12 and either Michigan or Ohio State winning the Big 10 in decisive fashion. You don’t need all of those things to happen, but if even most of them do, the Big 12 champion probably gets into the College Football Playoff.What’s going to be fascinating is what will happen if Penn State wins the Big 10 and Ohio State doesn’t make it to the Big 10 Championship at 11-1 but pounds Michigan. No way Ohio State gets left out, right? But then do you take 11-2 Penn State over 10-2 OU or Oklahoma State? You probably do, right?[puts on Charles Rogers jersey] GO SPARTY!last_img read more

Cal Graduate Transfer Offensive Lineman Could Fill Immediate Need for OSU

first_imgWhile you’re here, we’d like you to consider subscribing to Pistols Firing and becoming a PFB+ member. It’s a big ask from us to you, but it also comes with a load of benefits like ad-free browsing (ads stink!), access to our premium room in The Chamber and monthly giveaways.The other thing it does is help stabilize our business into the future. As it turns out, sending folks on the road to cover games and provide 24/7 Pokes coverage like the excellent article you just read costs money. Because of our subscribers, we’ve been able to improve our work and provide the best OSU news and community anywhere online. Help us keep that up. A top priority for Oklahoma State in its 2017 recruiting class was shoring up its lack of depth along the offensive line. One of the main goals, according to Mike Gundy, was to sign multiple four-year (high school) recruits.That didn’t happen. Instead, Oklahoma State added two junior college recruits in left tackle Arlington Hambright and offensive guard Larry Joubert, Jr.But OSU may not be done yet.Cal left tackle Aaron Cochran announced on Feb. 2 that he will be pursuing a graduate transfer for his final year of eligibility after spending four seasons at Cal. A 6-foot-8, 350-pounder who could protect Mason Rudolph’s blindside, Cochran could be a legitimate option to fill a void in Stillwater during his final season of eligibility and step in for the vacant spot left by Victor Salako.It is believed that Oklahoma State and Cochran have been in contact about exploring a potential transfer, according to a source, although there are multiple suitors to land his services. So the situation is still fluid.OSU may have an inside track to land him, though. Marcus Arroyo, OSU’s running back coach, was the QB’s coach at Cal at the time Cochran signed with the Bears in 2013. The year before, in 2012, Arroyo helped ink Cochran’s older brother, Matt Cochran. So that connection alone could allow for the recruitment to be favorable for OSU given recent history with a prominent member of the Cowboy staff.Keep an eye on Cochran in the short term as he chooses a potential landing spot. I think Oklahoma State should be considered the favorite.last_img read more

Arkansas Police Tackled and Arrested Baker Mayfield After Sprinting from Scene

first_imgBaker Mayfield was arrested and charged with four counts on Friday evening in Fayetteville, including public intoxication, fleeing, disorderly conduct, and resisting arrest.Being a Division I quarterback and Heisman contender, his arrest went down exactly as you might imagine.He ran.From the police report and arresting officer’s statement, obtained by ESPN:Mayfield was yelling profanities and causing a scene. Mayfield was intoxicated. When he first came over to me, he had difficulty walking down a couple stairs. Mayfield’s speech was slurred and he had the odor of intoxicants coming from his person. The front of Mayfield’s clothing was covered in food. I told Mayfield to come over to me. When I gave him that command, Mayfield began to walk away from me. I repeatedly told him to stop.Mayfield then began to sprint away. I chased after him. Mayfield was tackled to the ground. While on the ground, I gave repeated orders for him to place his arms behind his back. Mayfield kept his arms locked tight and would now allow me to place his arms behind his back. I eventually forced Mayfield’s arms behind his back. I then placed him in handcuffs. While you’re here, we’d like you to consider subscribing to Pistols Firing and becoming a PFB+ member. It’s a big ask from us to you, but it also comes with a load of benefits like ad-free browsing (ads stink!), access to our premium room in The Chamber and monthly giveaways.The other thing it does is help stabilize our business into the future. As it turns out, sending folks on the road to cover games and provide 24/7 Pokes coverage like the excellent article you just read costs money. Because of our subscribers, we’ve been able to improve our work and provide the best OSU news and community anywhere online. Help us keep that up.last_img read more

The Reload: Weekend Visitors and New Offers

first_imgThe Reload is PFB’s recruiting recap, catching you up to speed with the latest rumors and news surrounding Oklahoma State recruiting, with an ear to the ground for what to expect.Last week on the recruiting trail it was clear the focus was to get feelers out to safeties and defensive backs. That focus has shifted this week, and it’s safe to say the line coaches — Josh Henson and Joe Bob Clements — have been hard at work. Here’s some of the latest offers reported this week.Jayden Jernigan — Defensive tackle6-foot-1 defensive tackle Jayden Jernigan of Allen High School reported his fourth scholarship offer on Saturday from OSU, adding to his list that also includes SMU, Texas Tech and Iowa State. He was one of the blue-chip visitors on campus Saturday for unofficial visits who picked up an offer.Although a 2019 recruit (he’s just a sophomore!), he projects to be a difference maker at the college level with his already filled out frame. Here’s a recent scouting reporting from Scout in which Jernigan was one of the top performers at The Opening Dallas.The young defensive lineman is potentially position-versatile depending on scheme and has proven himself early in his high school career by earning heavy snaps for national power Allen, the largest high school in Texas with almost 6,400 students. Jernigan played Sunday with quick hands and great initial burst.Gerald Irons III — Defensive tackleOklahoma State’s scouting and evaluation is known to be among the tops in the region. When OSU offers, you can expect others like Texas A&M to follow suit. That might be the case for Gerald Irons III, who picked up his first Division I scholarship offer from OSU on Friday during his unofficial visit. While you’re here, we’d like you to consider subscribing to Pistols Firing and becoming a PFB+ member. It’s a big ask from us to you, but it also comes with a load of benefits like ad-free browsing (ads stink!), access to our premium room in The Chamber and monthly giveaways.The other thing it does is help stabilize our business into the future. As it turns out, sending folks on the road to cover games and provide 24/7 Pokes coverage like the excellent article you just read costs money. Because of our subscribers, we’ve been able to improve our work and provide the best OSU news and community anywhere online. Help us keep that up. Irons is a Klein Oak 2019 prospect and at 5-foot-11, his size is a bit concerning. He’s unquestionably a run-stopper on film, and he’s a monster on the gridiron playing against high school players. But even guys like Mote Maile and Ofa Hautau, who I’d consider to be diminutive defensive tackles, are 6-foot-3 and 6-foot, respectively. But given the way Joe Bob Clements has recruited and produced studs along the front end, it’s hard to argue his evaluation. I’ll be curious to see if others follow suit.Hunter Woodard – Defensive tackleWoodard is listed as a defensive tackle on 247sports, but we believe this is an offer from Josh Henson and the offensive group as an offensive tackle. The good news: It doesn’t really matter. Woodard can play both sides of the ball and at 6-foot-5 and close to 300 pounds, he’s going to be a load at the next level. Despite the below graphic, Woodard is a 2018 recruit.center_img Woodard also holds offers from Ball State and Miami University. He made the trip to Stillwater this weekend for an unofficial visit from Tuscola, Illinois.Visitors from the weekendAs noted above, it was a big weekend for unofficial visitors. Mike Gundy is in full swag mode with his fourth year quarterback and approximately 19 future pros at wide receiver, so he’s letting in just about everyone for visits. Here’s a few names.Grant Gunnell — 2019 QB with OSU offerHunter Woodard — 2018 defensive tackleJalen Curry — 2019 wide receiverGrayson Boomer — 2019 TE with OSU offerElton Ndoma-Ogar — 2019 OL with OSU offerGrant TisdaleGrant Tisdale — 2019 QBDevyn Butler — 2019 CBTrey Stratford — 2018 OLBrock Sturges — 2018 RBlast_img read more

NFL Draft: Vincent Taylor Selected by the Miami Dolphins in Round 6

first_imgWhile you’re here, we’d like you to consider subscribing to Pistols Firing and becoming a PFB+ member. It’s a big ask from us to you, but it also comes with a load of benefits like ad-free browsing (ads stink!), access to our premium room in The Chamber and monthly giveaways.The other thing it does is help stabilize our business into the future. As it turns out, sending folks on the road to cover games and provide 24/7 Pokes coverage like the excellent article you just read costs money. Because of our subscribers, we’ve been able to improve our work and provide the best OSU news and community anywhere online. Help us keep that up. The wait is over. Former Oklahoma State defensive tackle Vincent Taylor was selected by the Miami Dolphins with the 10th pick in the 6th round (194th overall).Taylor is a good fit for Miami’s 4-3 defense. With Taylor, they address a need for depth behind Ndamukong Suh and former Oklahoma defensive tackle Jordan Phillips.The Dolphins were the fourth-ranked NFL defense in points allowed in 2016. Their season ended with a loss in the wildcard game to the Pittsburgh Steelers. It was Miami’s first postseason appearance since 2009.Taylor tweeted this shortly after the announcement.It’s a blessing to be apart of @MiamiDolphins Organization ready to get to work! ??— Vincent Taylor (@BallOut_96) April 29, 2017Taylor is the 20th selection from OSU in the Mike Gundy era. A Cowboy has been taken in nine straight NFL Drafts.last_img read more