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“I like acting like no one has me captured.” Why McCain fenced off Trump even in death

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It’s no longer news that late Senator John McCain does not want incumbent President Donald Trump anywhere near his burial rites.

The deep resentment goes way back and SlamReportsAfrica drives down memory lane to relieve what may have prompted the quarrel that lingered till McCain’s death.

New York Times provides some insight.

When Senator John McCain of Arizona returned to Washington with a fresh scar from brain surgery, it was widely seen as a dramatic effort to help Republicans overturn Obamacare.

President Trump had criticized Mr. McCain in the past and derided his military service, saying in 2015 of the former Vietnam prisoner of war, “I like people who weren’t captured.”

But in late July 2017, Mr. Trump welcomed him back to Washington. “So great that John McCain is coming back to vote. Brave – American hero! Thank you John,” he said.

Little did Mr. Trump know that the Arizona senator would help drive the stake through legislation that sought to realize the Republicans’ seven-year dream of finally dismantling Obamacare, handing the president an embarrassing legislative setback.

He was joined in his vote by two fellow Republicans, Lisa Murkowski of Alaska and Susan Collins of Maine, and 48 Democrats who defeated the slimmed-down repeal bill early Friday.

Read Also: Everybody would be very poor because of me if….Trump

Mr. McCain left his intentions secret until the end, then cast his vote in a dramatic fashion, walking to the middle of the floor, holding his arm out and then giving a thumbs-down.

Audible gasps and muffled applause could be heard on the Senate floor. Outside a crowd of opponents of the Republican plan roared. The Republican senator offered a short explanation of his vote.

McCain leaving the Capitol asked why he voted NO: “I thought it was the right thing to do.”

After the vote, his office released a statement that he still wanted to see a repeal of Obamacare, while saying that the proposed legislation did nothing to offer more affordable health care to Americans. He called for a new legislative effort, with input from Democrats and Republicans.

The turn of events was the latest in the tumultuous relationship between the president and the Arizona senator, who has also been a thorn in Mr. Trump’s side by pushing for an aggressive stance toward Russia and on other foreign policy issues. After Thursday night’s vote, President Trump criticized the three Republicans who voted against the health care bill in a late-night tweet.

“3 Republicans and 48 Democrats let the American people down. As I said from the beginning, let ObamaCare implode, then deal. Watch!”

On Twitter, defenders of Obamacare saw Mr. McCain’s vote as sweet retribution for Mr. Trump’s past disparagement of him.

McCain to Trump tonight: “I like acting like no one has me captured.”

The late Senator had taken great pride in the role he played in the course of America’s intervention in Vietnam. Military service, he believed, was the ultimate price to pay in defense of one’s country, and could hardly comprehend why an American leader would make light of it.

By fencing off Trump, McCain may have wished that the incumbent President earned no political capital from his demise.

Musings From Abroad

AfDB, IDB on $20bn IMF reserve asset donor drive

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In line with a global initiative to increase the efforts of leading multilateral development banks (MDBs) to address poverty and climate change, the African Development Bank (AfDB) and the Inter-American Development Banks (IDB) intend to convert each SDR into $4 in additional funding through the use of hybrid bonds and other financial instruments.

“All these countries have shown a lot of interest, and I think that with the approval from the IMF to use it (SDRs), it’s going to make that conversation a lot better,” AfDB President, Adesina said.

Japan has also pledged to help as a potential contributor of SDR, and in Europe, France has indicated interest in contributing some of its SDR for a simultaneous “liquidity guarantee” that would reimburse donors should they encounter difficulties.

“There are a lot of things that that bacon can feed – electricity, water sanitation, education,” Adesina stated, adding that he and Goldfajn have the remainder of the year to “bring the bacon home.”

The board of the AfDB separately approved a $117 billion capital increase earlier this month, and it is currently seeking an additional $25 billion for its concessional lending arm, the African Development Fund.

It aims to allocate a portion of the funds to projects like credit guarantees, which lower project financing costs by utilizing the bank’s triple-A credit rating as a halo.

It plans to use them similarly for debt-for-nature or climate swaps, which enable governments to reduce debt in exchange for safeguarding important ecosystems. Currently, Tanzania is employing them for railways linking Tanzania to the Democratic Republic of the Congo, Burundi, and Nigeria.

The AfDB’s almost-final year in leadership, Adesina, stated that acknowledging the economic and global significance of Africa’s savannahs, rainforests, rivers, and seas is also necessary.

According to his estimation, their worth is at least $6.8 trillion, and the bank plans to adjust the GDP calculations for the continent to account for this amount. For instance, the Congo Basin is thought to be larger than the Amazon to be the world’s greatest carbon sink.

“In a world of climate change and green growth that ought to matter,” he added, saying that if “properly valued” countries like Congo and Gabon would have much better debt metrics.

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Musings From Abroad

World Bank grants Nigeria’s request for a $2.25 billion loan

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According to a statement released by the World Bank on Thursday, Nigeria has been granted a $2.25 billion loan to help stabilize its economy after implementing reforms and increasing aid to the underprivileged.

Nigeria wants to borrow up to $2.25 billion from the World Bank, according to Finance Minister Wale Edun’s April announcement. The proposal is expected to be approved by the bank’s board in June.

The boldest reforms the nation has seen in decades were started by Nigerian President Bola Tinubu in May of last year. He eliminated a popular but expensive fuel subsidy and twice devalued the currency substantially in an attempt to spur economic growth. However, the actions exacerbated a situation caused by rising costs of living and increased inflation.

The International Monetary Fund predicted that gasoline subsidies could account for as much as 3% of GDP this year due to the devaluation since rises in pump prices have not kept pace with their dollar cost.

Additionally, labour unions have been putting pressure on Tinubu to undo changes. According to the World Bank, it has authorized two loans totalling $750 million to speed up tax mobilization and $1.5 billion to support Nigeria’s reforms.

Nigeria has taken “initial critical steps to restore macroeconomic stability, boost revenues, and create the conditions to reignite growth and poverty reduction have been taken.” Nigeria has also started important reforms to address economic distortions and strengthen its fiscal outlook.

According to the World Bank, the loan will aid Nigeria in its efforts to increase non-oil revenue and foster fiscal sustainability, both of which will enable the West African country to provide high-quality public services.

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