AG invalidates Norton’s claims of poll showing Opposition’s victory at LGE polls

Black Immigrant Daily News

The content originally appeared on: INews Guyana
Attorney General Anil Nandlall SC and Opposition Leader Aubrey Norton

Attorney General Anil Nandlall has rubbished claims by Opposition Leader Aubrey Norton that there is a poll done by the ruling People’s Progressive Party/Civic (PPP/C) which shows that the APNU/AFC Opposition will defeat the PPP/C at the next elections.

During his weekly programme, Issues in The News, Nandlall, who is a Central Executive Member of the PPP/C, denied the existence of any such poll, and called out Norton for fabricating this claim.

“This obviously is a concoction of his… I don’t know of any poll that was done. But I don’t know which pollster can come to a conclusion [that the] APNU/AFC at this point in time or any point in the near future is likely to beat the PPP at any elections… It’s either that he [Norton] invents these things, or he is so gullible that anyone can concoct a lie, irrespective of how outrageous the lie may sound to an objective listener or bystander, and he believes the lie. And what is worse, he regurgitates it publicly,” the Attorney General posited.

During his press conference on Tuesday, Norton claimed that “…the last poll showed that the combined APNU/AFC will beat the PPP at the next elections.” However, despite being continually pressed by a reporter, he refused to divulge any other details about this alleged poll.

“If I tell you my source, the persons in the PPP will be dealt with… It’s protecting the people who divulged it that makes it a source of privacy… Most political parties will do a poll, and based on the poll, they will work out the way forward, et cetera. And there are times when they wouldn’t publish it and there are times when, in the case of the PPP, they publish it, putting different statistics than what actually occurred,” the Opposition Leader alleged.Norton was then asked that if this “poll” is showing a victory for the Coalition Opposition, then why has the party not taken a decisive decision on contesting the upcoming Local Government Elections (LGE) that are slated for March 13, 2023.

There is uncertainty over whether the APNU/AFC would participate in the upcoming polls.While the Norton-led APNU faction of the Opposition has remained tightlipped on its participation in the LGE, the AFC said its Central Executive is yet to make a decision. Moreover, the minority Coalition partner is also considering whether to contest the elections together or on its own.

Norton, in responding to the reporter, contended that the Opposition would beat the ruling PPP/C “much more handsomely” if there is a clean voters’ list – something which the Coalition has been pushing for.

The Guyana Elections Commission (GECOM) has already explained that it is guided only by the constitutional and legal provisions, which do not allow it to remove names from the voters’ list. It pointed to the recently concluded Claims and Objections exercise for the Opposition to use to object to the presence of those names that bloat the list. However, the APNU/AFC had refused to participate in the exercise, and even threatened to boycott the LGE.

But AG Nandlall has underscored the importance of the local government polls.“Local governance and local government are of crucial importance, not only for the democracy of any country, but for grassroots representation, for governance at the level of the community; and it is that platform that allows the ordinary Guyanese to participate in the governance structure [and] play a real and true part in the political and administrative management of local affairs within the legal structure. The process is intended to produce a local cadre of leadership,” he explained.

Moreover, Nandlall went on to express the view that the APNU/AFC Coalition are at their “lowest ebb” within the decade, and cannot get their act together when it comes to anything, including their internal affairs. This was in response to Norton’s claim that the Opposition can “beat” the PPP/C.

“Whether they boycott the elections, whether they participate in the elections, we know that they are going to get a beating… We also know that they are afraid of the elections because it will delude them of all the ‘fat talk’ that we are hearing… they are mortally afraid,” the AG has said.

“Whether the APNU/AFC contests the elections as a collective or as individual parties, or whether they do not will not affect the credibility of the elections, neither will it affect the legality of the elections. It will have devastating political consequences for those who choose not to participate,” the Attorney General has asserted.

The long-overdue LGE is constitutionally due every two years in Guyana, but had been delayed over the past two years. At the last local government polls, held in November 2018, the then PPP/C Opposition had secured 52 of the 80 Local Authority Areas (LAAs). This followed the holding of the LGE in 2016, in which the PPP/C also claimed the majority of the LAAs.

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Risk Management System For The OECS Customs Union Project Launched – St. Lucia Times News

Black Immigrant Daily News

The content originally appeared on: St. Lucia Times News

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On October 11, the Organisation of Eastern Caribbean States (OECS) Commission officially launched a project that will contribute to bringing to full operation an OECS Customs Union with a regime for the free circulation of goods.

This Project is titled: “Building the Institutional and Regulatory Capacity for a Regional Risk Management System for the OECS Economic Union.”

The OECS has contracted the services of a team of Customs and Border Security experts from DT Global to lead this initiative, which is funded by the European Union under the Regional Integration through Growth, Harmonization and Technology (RIGHT) Programme of the 11th EDF. ​

The undertaking will run for nine months and will facilitate the development of a harmonized border management structure among participating OECS Member States. Specifically, it will assist in enhancing risk analysis and management associated with the importation of goods into the OECS Single economic space in two ways.

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Firstly, the consultancy team will identify capacity gaps within the operations of customs and other border control agencies in their risk management functions at the national level, and secondly, develop solutions for strengthening and integrating the institutional and regulatory frameworks of the national and regional risk management functions.

Risk Management is a well-known trade facilitation tool, which seeks to enable compliance with Customs rules and regulations, including the protection of plant, animal, and environmental health, food safety, standards and quality, and the collection of government revenue.

Risk management must therefore be a key component of the harmonised border management structure of the ECEU and the Customs Union. Risk management is also a key measure for implementation under the WTO Trade Facilitation Agreement.

Once implemented, the OECS Customs Union with Free Circulation of Goods will ensure that goods entering any port of entry from third countries will be able to circulate freely within the union space once they have complied with all border formalities and regulatory requirements, and duly cleared and released by customs.

These goods will not be subject to any further barriers, including inspections, additional duties and charges, or movement restrictions. Goods manufactured within the union will also be able to circulate freely.

In his remarks at the launch, Dr. Didacus Jules, OECS Director General noted: “The impact and the benefit of this for business, trade, and the personal movement of OECS citizens and residents will be tremendous. A choice to relocate within the Economic Union in pursuit of a better job opportunity will be made easier as the shipping of one’s belongings, including their vehicles, will not face the hurdle of having to again pay import duties and taxes when those belongings enter the other destination OECS country. Importers, wholesalers and retailers in the OECS would be able to explore more consolidated approaches to distribution of goods across the region built upon what is hoped to be an accompanying improvement in regional maritime and air cargo transport network and services.”

Mr. Anthony Regisford, Member of the OECS Business Council Executive Committee stated:“The regional risk management system is an excellent trade facilitation tool that will enable compliance with customs rules and regulations, as well as other important quality requirements.”

He added, “A proper functioning OECS Customs Union is very vital for seamless and free circulation of goods among Member States and therefore an important driver of economic growth. The OECS Business Council looks forward to be a partner in this project”.

Mr. Bernard Black, Senior Customs and Trade Policy Project Officer at the CARICOM Secretariat commended the OECS for the initiative to undertake reform on risk management, noting that the issue of risk to trade has been at the forefront of trade policy formulation at CARICOM.

He pointed to the protection of government revenue as a key concern for the Member States and recommended that the work to be done pay particular attention to risks associated with revenue leakage related to undervalued declarations, and the circumvention of rules of origin for duty-free status.

The imperative for this project stems from the Revised Treaty of Basseterre and the Protocol of the Eastern Caribbean Economic Union, which established the Economic Union as a single economic and financial space (Protocol Article 1.1), and that the Economic Union shall constitute a Customs Union (Protocol Article 4.1) with Free Circulation (Protocol Article 10).

SOURCE: Organisation of Eastern Caribbean States

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Ye kicked out of Skechers’ headquarters in California Loop Barbados

Black Immigrant Daily News

The content originally appeared on: Barbados News

The rapper formerly known as Kanye West was escorted out of the California-based headquarters of athletic shoemaker Skechers after he showed up unannounced Wednesday, a day after Adidas ended its partnership with the artist following his anti-semitic remarks.

The Grammy winner, who legally changed his name to Ye, “arrived unannounced and without invitation” at Skechers corporate headquarters in Manhattan Beach, southwest of Los Angeles, the company said.

“Considering Ye was engaged in unauthorized filming, two Skechers executives escorted him and his party from the building after a brief conversation,” according to a company statement.

“Skechers is not considering and has no intention of working with West,” the company said. “We condemn his recent divisive remarks and do not tolerate antisemitism or any other form of hate speech.”

The rapper’s Instagram account — which had been suspended over anti-semitic comments — resumed posting Tuesday night. A new message showing a screen grab of a text message that appeared to be from a contact at a high-profile law firm spelt out when Ye could resume making apparel and new shoe designs.

Details of the message could not be verified; email messages sent to representatives for Ye weren’t immediately returned.

For weeks, Ye has made anti-semitic comments in interviews and social media, including a Twitter post earlier this month that he would soon go “death con 3 on JEWISH PEOPLE,” an apparent reference to the US defence readiness condition scale known as DEFCON. His posts led to his suspension from both Twitter and Instagram.

He apologized for the tweet on Monday.

On Tuesday, sportswear manufacturer Adidas announced that it was ending a partnership with Ye that helped make him a billionaire, saying it doesn’t tolerate antisemitism and hate speech.

The German sneaker giant said it expected that the decision to immediately stop production of its Yeezy products would cause a hit to its net income of up to 250 million euros ($246 million).

The company had stuck with Ye through other controversies after he suggested slavery was a choice and called the COVID-19 vaccine the “mark of the beast.”

Other companies also have announced they were cutting ties with Ye, including Foot Locker, Gap, TJ Maxx, JPMorgan Chase bank and Vogue magazine. An MRC documentary about him was also scrapped.

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Update: Garnes charged with indecent assault, granted $10, 000 bail Loop Barbados

Black Immigrant Daily News

The content originally appeared on: Barbados News

Samuel Garnes is set to reappear at the District D Magistrate’s Court on February 15, 2023

Loop News

20 hrs ago

NEWYou can now listen to Loop News articles!

[Update: 4 pm]

Samuel Adolfus Garnes, who has been charged with the indecent assault of a minor, was granted bail in the sum of $10, 000.

The 54-year-old of Merricks, St Philip is scheduled to reappear at the District D Magistrate’s Court on February 15, 2023.

[Original: October 26 at 12:57 pm]

Man charged with indecent assault of a minor

A 54-year-old man is set to appear at the District D Magistrate’s Court today for the indecent assault of a minor.

Samuel Adolfus Garnes of Merricks, St Philip was arrested and charged by the personnel of the Criminal Investigation Department of the Northern Division for the offence which occurred on October 2, 2022.

Garnes will be appear at before Magistrate Debra Beckles at the Cane Garden, St Thomas court.

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Ye kicked out of Skechers’ headquarters in California Loop Jamaica

Black Immigrant Daily News

The content originally appeared on: Jamaica News Loop News

The rapper formerly known as Kanye West was escorted out of the California-based headquarters of athletic shoemaker Skechers after he showed up unannounced Wednesday, a day after Adidas ended its partnership with the artiste following his antisemitic remarks.

The Grammy winner, who legally changed his name to Ye, “arrived unannounced and without invitation” at Skechers corporate headquarters in Manhattan Beach, southwest of Los Angeles, the company said.

“Considering Ye was engaged in unauthorised filming, two Skechers executives escorted him and his party from the building after a brief conversation,” according to a company statement.

“Skechers is not considering and has no intention of working with West,” the company said. “We condemn his recent divisive remarks and do not tolerate antisemitism or any other form of hate speech.”

The rapper’s Instagram account — which had been suspended over antisemitic comments — resumed posting Tuesday night. A new message showing a screen grab of a text message that appeared to be from a contact at a high-profile law firm spelled out when Ye could resume making apparel and new shoe designs.

Details of the message could not be verified; email messages sent to representatives for Ye weren’t immediately returned.

For weeks, Ye has made antisemitic comments in interviews and social media, including a Twitter post earlier this month that he would soon go “death con 3 on JEWISH PEOPLE,” an apparent reference to the US defence readiness condition scale known as DEFCON. His posts led to his suspension from both Twitter and Instagram.

He apologised for the tweet on Monday.

On Tuesday, sportswear manufacturer Adidas announced that it was ending a partnership with Ye that helped make him a billionaire, saying it doesn’t tolerate antisemitism and hate speech.

The German sneaker giant said it expected that the decision to immediately stop production of its Yeezy products would cause a hit to its net income of up to 250 million euros (US$246 million).

The company had stuck with Ye through other controversies after he suggested slavery was a choice and called the COVID-19 vaccine the “mark of the beast”.

Other companies also have announced they were cutting ties with Ye, including Foot Locker, Gap, TJ Maxx, JPMorgan Chase bank, and Vogue magazine. An MRC documentary about him was also scrapped.

NewsAmericasNow.com

H&L, deputy CEO hit back at conflict of interest claims re RADA Loop Jamaica

Black Immigrant Daily News

The content originally appeared on: Jamaica News Loop News

Deputy Chief Executive Officer (CEO) at Hardware and Lumber (H&L) Limited, Olive Downer Walsh, and H&L are pushing back at claims about a conflict of interest made by the Integrity Commission.

This, after the commission, in a report tabled in the House of Representatives on Tuesday, rapped the former Minister of Agriculture and Fisheries Floyd Green for reappointing Downer Walsh to the board of the Rural Agricultural Development Authority (RADA) in 2020, despite her position with H&L, which is regarded as a major player in the local agriculture industry.

H&L also has an established commercial link with RADA.

The commission, in its report, accused Green of failing to apply the considerations outlined in the Government’s policy guidelines for the nomination, selection, and appointment of individuals to the boards of public bodies.

It did not accept Green’s explanation, which stated that: “Based on her background in agriculture, Olive Downer Walsh fulfils the requirements of the RADA Act. In light of the new requirements stipulated by Cabinet pertaining to the composition of public boards, namely, the inclusion of 30 per cent females and retention of one-third of previous board members, and her experience in agriculture, she would have been deemed suitably qualified for reappointment.”

The commission’s Director of Investigations Kevon Stephenson said the rationale was unacceptable, in light of the conflict of interest implications raised by Downer Walsh’s concurrent professional relationship with RADA and H&L Limited.

The report noted that between January 2017 and January 2021, RADA awarded 14 contracts to H&L Limited totalling $136 million. Three of those contracts were endorsed by Downer Walsh on behalf of H&L.Stephenson also noted Downer Walsh’s direct involvement in, and proximity to the preparation of tender documents and the execution of contracts between both entities, in her capacity as deputy CEO of the company.

“This proximity and involvement created the perception that the authority’s procurement processes were less than transparent, which may adversely impact public confidence in the operations of the authority,” the commission said.

In her statement Wednesday, Downer Walsh insisted that her position as deputy CEO at H&L has always been a matter of public knowledge.

“So, when invited by successive ministers of agriculture and fisheries to serve on the board of the Rural Agricultural Development Authority, I understood that I operated with the limitation that there could be a potential or perceived conflict of interest. Based on that, I painstakingly and repeatedly declared my association with H&L in writing,” said Downer Walsh.

She said that, in keeping with governance guidelines on managing conflicts of interest, “I recused myself from all discussions at RADA involving H&L”.

“When it was brought to my attention that the National Integrity Commission had launched an investigation into my position on the RADA board, I formally stepped aside from the board on March 15, 2021, to allow the investigation to proceed,” she stated.

Downer Walsh added that the records will show that H&L did not inappropriately benefit from her membership on the board.

She said: “My only interest in serving on the board of RADA was to contribute to the advancement of agriculture in Jamaica based on my professional qualifications and years of experience in the industry.”

She had a parting word for the Integrity Commission, telling the Commission of Parliament: “I reject any attempt to cloak my service to the industry with impropriety, as I have always been vigilant in equally protecting my integrity, the reputation of the company I work for, and RADA’s mission.”

Downer Walsh has been a member of the national board of directors of RADA since April 2016 and was reappointed in June 2018 and November 2020.

The commission, in its recommendations, urged that the minister ensure strict adherence to the Government of Jamaica policy guidelines for the selection and appointment of individuals to the boards of public bodies, taking into consideration conflict of interest that is material to the core business of the entity.

For its part, H&L, in a separate statement, said: “A significant part of our success is the pioneering work of our Deputy CEO Olive Downer Walsh, whose impeccable integrity matches her authoritative knowledge and experience built during a 40-year career in agriculture and management.

It said that as a member of three consecutive RADA boards appointed by three ministers of agriculture in April 2016, June 2018, and November 2020, Downer Walsh’s first mission has always been to serve the nation with probity and distinction.

“Like other industry stakeholders called on to contribute expertise to the national agenda, Mrs Downer Walsh declared her commercial ties upon being appointed and did so as an agenda item at board meetings,” H&L said.

The company said it was unfortunate that suggestions have been made that H&L inappropriately benefited from Downer Walsh’s presence on the RADA board.

H&L said the review process for RADA contracts for which it offered bids was always open and transparent “and the National Integrity Commission has concluded that there is no evidence that Mrs Downer Walsh or H&L obtained any improper benefit from her association with RADA”.

H&L also said it was proud of Downer Walsh’s “integrity, sincerity, and transparency”.

“And we hope that spurious suggestions like the one that initiated the NIC’s investigations will not dissuade professionals like Olive Downer Walsh from standing in service to our nation,” it said.

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Phil Simmons To Quit As West Indies Head Coach – St. Lucia Times News

Black Immigrant Daily News

The content originally appeared on: St. Lucia Times News

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Cricket West Indies (CWI) has announced that Phil Simmons will be stepping down from his role as Head Coach of the West Indies Men’s team.

The announcement follows the team’s disastrous exit from the ICC Men’s T20 World Cup in Australia.

West Indies’ nine-wicket defeat to Ireland last Friday saw them eliminated from the tournament’s main draw.

Scotland had earlier routed them in their first match.

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The last assignment for Phil Simmons will be the upcoming two-Test series against Australia from 30 November to 12 December.

“I acknowledge that it’s not just the team that is hurting but the proud nations we represent,” Simmons said regarding the West Indies’ poor performance, which he described as disappointing and heart-wrenching.

And he apologised to West Indies fans and followers.

“From a personal perspective this is not a knee-jerk reaction, but a move I have been considering for some time and now is the time to make public that I will step down as West Indies Head Coach at the end of the Test series against Australia,” Simmons stated.

Simmons, who was at the helm in 2016 when West Indies won their second ICC Men’s T20 World Cup title, said the regional side’s performances this time were not good enough.

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24 days to go: The 2022 FIFA World Cup -Team Argentina Loop Barbados

Black Immigrant Daily News

The content originally appeared on: Barbados News

We are officially 24 days away from the 22nd edition of the FIFA World Cup.

Argentina have featured in 17 of these 22 World Cups and won it twice, while finishing runners-up three times, with the latest heartbreak experienced in 2014 in Brazil.

Diego Maradona lifting the trophy at the 1986 FIFA World Cup

The South American representatives possess some of the most outstanding players in world football, which includes, arguably the best player the game has ever seen, Lionel Messi.

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By Renaldo Gilkes

Messi is Argentina’s most capped player (164 matches) and record goal scorer (90 goals), and the “Albiceleste” will be reliant on his experience and goal scoring prowess, if they are going to lift the trophy for a third time.

Argentina’s golden boy Lionel Messi

The 2021 Copa America success ended a 28-year international trophy drought and if Argentina can replicate those type of performances and homogeneity, they will be very difficult to defeat in Qatar.

Country: Argentina

Capital: Buenos Aires

Population: 45.8 million

Confederation: Conmebol (South America)

Group: C

Professional League: Primera Nacional

World Cup appearances: 17. Winners in 1978 and 1986

Qualification status: 2nd in Conmebol Qualifications

Key players: Lionel Messi (PSG, France), Lautaro Martinez (Inter Milan, Italy), Angel Di Maria (Juventus, Italy), Rodrigo De Paul (Atletico Madrid, Spain), Julian Alvarez (Manchester City, England)

Coach: Lionel Scaloni (Argentine)

Group mates: Saudi Arabia, Poland, Mexico

Prediction: Favourites to win the group and potential World Cup champions.

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La BCE durcit encore l’accès au crédit pour endiguer l’inflation

Black Immigrant Daily News

The content originally appeared on: Martinique FranceAntilles

La Banque centrale européenne a donné jeudi un nouveau tour de vis à sa politique monétaire afin de lutter contre l’inflation galopante, en relevant fortement ses taux malgré le…

La Banque centrale européenne a donné jeudi un nouveau tour de vis à sa politique monétaire afin de lutter contre l’inflation galopante, en relevant fortement ses taux malgré le risque d’alimenter la récession qui menace.

Comme attendu, le conseil des gouverneurs de la BCE, composé de 25 membres, a relevé ses taux directeurs de 0,75 point pour la deuxième fois consécutive, après la hausse d’une ampleur inédite de septembre.

L’institution de Francfort est sous pression pour contenir une inflation record, alimentée par la flambée des prix des denrées alimentaires et surtout de l’énergie, dans le sillage de l’invasion russe de l’Ukraine. 

L’inflation dans la zone euro a frôlé les 10% en septembre, soit près de cinq fois l’objectif de 2% de la BCE. 

Comme d’autres banques centrales, la BCE riposte par des mesures visant à freiner la demande en rendant le crédit plus coûteux pour les ménages et les entreprises.

Dans un contexte de ralentissement économique, c’est un choix délicat, mais les gardiens de l’euro estiment que laisser les prix grimper est encore plus néfaste que de durcir les conditions de financement.

Critiques balayées

“Le voyage” de la normalisation monétaire n’est d’ailleurs pas fini, a prévenu la présidente de la BCE Christine Lagarde face à la presse : “il y a encore du chemin à parcourir” et de nouvelles hausses interviendront pour tenter de faire baisser les prix.

Jusqu’où la BCE est-elle prête à aller? L’évolution des prix en décidera et les décisions seront prises “réunion après réunion”, a-t-elle ajouté.

Les gardiens de l’euro ont également marqué leur détermination en décidant jeudi de réduire les avantages des prêts anti-crise (“TLTRO”) accordés ces dernières années aux banques.

En durcissant les conditions liées à ces prêts, la BCE va accentuer la pression sur les coûts d’emprunt.

Alors que les gouvernements européens alignent les milliards d’euros pour soutenir pouvoir d’achat et entreprises, le resserrement rapide de la politique monétaire n’est pas toujours bien vu. 

Entrée en fonction cette semaine, la nouvelle présidente du Conseil italien Giorgia Meloni a souligné “le risque” que représentaient les hausses de taux d’intérêt, notamment “pour les États membres qui ont une dette publique élevée”.

Le président français Emmanuel Macron a appelé à ne pas “briser la demande” pour contenir l’inflation.

La “probabilité d’une récession se profile beaucoup plus à l’horizon”, a admis Christine Lagarde jeudi.

Mais elle a évacué les critiques sur la politique monétaire: relever les taux est la décision “la plus appropriée pour rétablir la stabilité des prix qui est d’une importance capitale (…) pour la prospérité et la reprise de l’économie”.

Elle a par ailleurs rappelé les gouvernements de la zone euro à leur devoir budgétaire : ils leur faut tout mettre en œuvre “pour réduire” les taux d’endettement publics élevés.

Le bilan, prochaine étape

La BCE a mis fin en juillet à plus d’une décennie de taux d’intérêt ultra-bas pour soutenir les prix.

Avec la décision de jeudi, le taux sur les dépôts bancaires à la BCE, encore négatif avant l’été et servant de référence dans un contexte de liquidités abondantes, passe à 1,5%. 

Les deux autres taux directeurs, celui appliqué aux banques sur les opérations de refinancement sur plusieurs semaines et celui visant la facilité de prêt marginal au jour le jour, passent respectivement à 2% et 2,25%.

La BCE se sait attendue sur le sujet délicat de la réduction de son bilan, pour le mettre en cohérence avec ses efforts de lutte contre l’inflation. 

Ce bilan a grimpé à 8.800 milliards d’euros sous l’effet, ces dernières années, des programmes d’achat d’actifs en soutien à l’économie. 

Actuellement la BCE réinvestit la dette à échéance, poursuivant son action d’aplatissement des taux d’emprunts sur le long terme.

Stopper ces réinvestissement sera le prochain chantier de l’institution pour combattre l’inflation, a confirmé Mme Lagarde et des décisions seront prises “en décembre”, a-t-elle prévenu.

La BCE devra être habile pour entreprendre cette cure d’amaigrissement car un “resserrement quantitatif” trop brusque pourrait entraîner de nouvelles tensions sur les coûts de financement des Etats.

jpl-fcz/smk/LyS

Inflation: la BCE plus agressive qu’attendue avec une hausse des taux de 0,50 point

Évolution des taux d’intérêt de la Banque centrale européenne (BCE) depuis octobre 2008
• Patricio ARANA

La présidente de la BCE Christine Lagarde avant sa conférence de presse à Francfort, le 27 octobre 2022
• Daniel ROLAND

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La BCE durcit encore l’accès au crédit pour endiguer l’inflation

Black Immigrant Daily News

The content originally appeared on: Guadeloupe FranceAntilles

La Banque centrale européenne a donné jeudi un nouveau tour de vis à sa politique monétaire afin de lutter contre l’inflation galopante, en relevant fortement ses taux malgré le…

La Banque centrale européenne a donné jeudi un nouveau tour de vis à sa politique monétaire afin de lutter contre l’inflation galopante, en relevant fortement ses taux malgré le risque d’alimenter la récession qui menace.

Comme attendu, le conseil des gouverneurs de la BCE, composé de 25 membres, a relevé ses taux directeurs de 0,75 point pour la deuxième fois consécutive, après la hausse d’une ampleur inédite de septembre.

L’institution de Francfort est sous pression pour contenir une inflation record, alimentée par la flambée des prix des denrées alimentaires et surtout de l’énergie, dans le sillage de l’invasion russe de l’Ukraine. 

L’inflation dans la zone euro a frôlé les 10% en septembre, soit près de cinq fois l’objectif de 2% de la BCE. 

Comme d’autres banques centrales, la BCE riposte par des mesures visant à freiner la demande en rendant le crédit plus coûteux pour les ménages et les entreprises.

Dans un contexte de ralentissement économique, c’est un choix délicat, mais les gardiens de l’euro estiment que laisser les prix grimper est encore plus néfaste que de durcir les conditions de financement.

Critiques balayées

“Le voyage” de la normalisation monétaire n’est d’ailleurs pas fini, a prévenu la présidente de la BCE Christine Lagarde face à la presse : “il y a encore du chemin à parcourir” et de nouvelles hausses interviendront pour tenter de faire baisser les prix.

Jusqu’où la BCE est-elle prête à aller? L’évolution des prix en décidera et les décisions seront prises “réunion après réunion”, a-t-elle ajouté.

Les gardiens de l’euro ont également marqué leur détermination en décidant jeudi de réduire les avantages des prêts anti-crise (“TLTRO”) accordés ces dernières années aux banques.

En durcissant les conditions liées à ces prêts, la BCE va accentuer la pression sur les coûts d’emprunt.

Alors que les gouvernements européens alignent les milliards d’euros pour soutenir pouvoir d’achat et entreprises, le resserrement rapide de la politique monétaire n’est pas toujours bien vu. 

Entrée en fonction cette semaine, la nouvelle présidente du Conseil italien Giorgia Meloni a souligné “le risque” que représentaient les hausses de taux d’intérêt, notamment “pour les États membres qui ont une dette publique élevée”.

Le président français Emmanuel Macron a appelé à ne pas “briser la demande” pour contenir l’inflation.

La “probabilité d’une récession se profile beaucoup plus à l’horizon”, a admis Christine Lagarde jeudi.

Mais elle a évacué les critiques sur la politique monétaire: relever les taux est la décision “la plus appropriée pour rétablir la stabilité des prix qui est d’une importance capitale (…) pour la prospérité et la reprise de l’économie”.

Elle a par ailleurs rappelé les gouvernements de la zone euro à leur devoir budgétaire : ils leur faut tout mettre en œuvre “pour réduire” les taux d’endettement publics élevés.

Le bilan, prochaine étape

La BCE a mis fin en juillet à plus d’une décennie de taux d’intérêt ultra-bas pour soutenir les prix.

Avec la décision de jeudi, le taux sur les dépôts bancaires à la BCE, encore négatif avant l’été et servant de référence dans un contexte de liquidités abondantes, passe à 1,5%. 

Les deux autres taux directeurs, celui appliqué aux banques sur les opérations de refinancement sur plusieurs semaines et celui visant la facilité de prêt marginal au jour le jour, passent respectivement à 2% et 2,25%.

La BCE se sait attendue sur le sujet délicat de la réduction de son bilan, pour le mettre en cohérence avec ses efforts de lutte contre l’inflation. 

Ce bilan a grimpé à 8.800 milliards d’euros sous l’effet, ces dernières années, des programmes d’achat d’actifs en soutien à l’économie. 

Actuellement la BCE réinvestit la dette à échéance, poursuivant son action d’aplatissement des taux d’emprunts sur le long terme.

Stopper ces réinvestissement sera le prochain chantier de l’institution pour combattre l’inflation, a confirmé Mme Lagarde et des décisions seront prises “en décembre”, a-t-elle prévenu.

La BCE devra être habile pour entreprendre cette cure d’amaigrissement car un “resserrement quantitatif” trop brusque pourrait entraîner de nouvelles tensions sur les coûts de financement des Etats.

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