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Musings From Abroad

Italian PM, Meloni to visit Tunisia as efforts to speed up IMF loan intensify

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Italian Prime Minister, Giorgia Meloni is hoping that her planned travel to the North African country, Tunisia will facilitate delayed talks about the loan from the International Monetary Fund (IMF).

According to a source quoted by Reuters, Meloni will be visiting the North African country on Tuesday after recent travels to neighbours, Algeria and Libya.

There are concerns that the delay with the loan could deepen Tunisia’s financial crisis and escalate migrants’ crisis across the Mediterranean Sea in search of a better life in Europe.

Tunisia and the IMF have been negotiating a $1.9 billion loan for months, with Tunisian President, Kais Saied rejecting key terms of the proposed deal.

A few months ago, Tunisia’s General Labour Union (UGTT) expressed concern about the IMF’s proposed financial bailout. During the May Day celebrations, labour officials criticized what they called an “IMF government,” while protesters chanted “No to colonization.”

Last week, President Saied announced a regime of additional taxes which would be introduced as a stopgap measure ahead of an expected IMF loan.

Tunisia is indebted to the tune of roughly 80% of its GDP and received an agreement in principle from the IMF last year for a new loan of nearly $2 billion to assist it in overcoming its severe financial crisis.

In February, he directed security forces to deport all illegal immigrants, accusing them of plotting to change Tunisia’s demographics so that it became more African and less Arab. The crackdown fuelled an increase in migrant departures to Italy.

According to the latest United Nations data, approximately 26,555 of the 51,215 boat migrants who arrived in Italy by the first week of June this year had set sail from Tunisia, compared to 3,658 in the same period in 2022.

Musings From Abroad

UN investigators concerned over likely ‘future atrocities’ in Ethiopia

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United Nations-appointed investigators in Ethiopia Thursday warned about the likelihood of further humanitarian crises in the country.

The UN chief called for continued scrutiny of Addis Ababa’s human rights record as their work faced termination amid strong African-led opposition.

The Ethiopian government and the Tigray People’s Liberation Front (TPLF) in the northern region Tuesday agreed to a permanent truce to cease hostilities following the conclusion of a peace deal brokered by the African Union in South Africa.

Both sides accused one another of crimes against humanity, such as killings, rapes, and arbitrary detentions, but neither admitted to any systematic wrongdoing.

International Commission of Human Rights Experts on Ethiopia, in a report earlier in the week, said there had been attacks by the Eritrean Defense Forces (EDF) against civilians in Tigray that were “grave and ongoing.”

With the ongoing Human Rights Council meeting in Geneva, its two-year term is up for renewal, but no proposal has been made thus far due to what diplomats describe as considerable resistance, particularly from African members

In light of continued violations in the region, Mohamed Chande Othman, the chair of the Commission, warned the 47-member council that it would be “premature” to conclude its work.

“Failure to do so would not only be an abdication of the Council’s responsibility, it would send a devastating message to the victims and survivors of this conflict,” he said.

He told the Council that “…the situation in Ethiopia exhibits most of the indicators for future atrocities…” and accused Ethiopia of conducting “a deliberate effort to evade regional and international scrutiny”.

Meanwhile, Ethiopia’s ambassador, Tsegab Kebebew stated the commission had “grossly mischaracterized the good and largely acclaimed democratic advances in Ethiopia”.

The Tigray Region is the northernmost regional state of Ethiopia. The region is the homeland of the Tigrayan, Irob, and Kunama people.

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Musings From Abroad

Mozambique: UK Supreme Court okays suit against Privinvest in London

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A United Kingdom’s Supreme Court has ruled that Mozambique can sue shipbuilder, Privinvest in Britain for alleged bribery connected to the $2 billion “tuna bond” scandal.

The ruling on Wednesday, just weeks after a London High Court ruled that the Mozambican President, Filipe Nyusi, cannot be sued in Britain for bribery in his country’s lawsuit against Credit Suisse and others over the $2 billion “tuna bond” scandal.

Mozambique is bringing a lawsuit against Privinvest, its owner, Iskandar Safa, Credit Suisse, and others for government-guaranteed loans raised in 2013 and 2014, hundreds of millions of dollars of which disappeared.

The scandal’s notoriety began with the borrowing of $2.2 billion by three newly formed firms in 2013 and 2014, the majority of which was done without the legislature’s knowledge or authorization. Mozambique alleges that Privinvest and Safa conspired against it and distributed more than $130 million in bribes to dishonest government officials and Credit Suisse employees.

Despite that,the Mozambican government served as a guarantee for the loans, ensuring that it would return the money in the event of a problem.

The “hidden debt” or tuna bond issue has sparked criminal investigations from Maputo to New York, as well as a string of related litigation in London involving Credit Suisse, shipbuilder Privinvest, its owner Iskandar Safa, and many other parties.

Privinvest has suggested that arbitration be used to resolve any disputes with Mozambique. A setback to Mozambique’s attempts to recover the funds it claims it lost came in 2021 when the Court of Appeal ruled in the company’s favour.

But on Wednesday, the Supreme Court unanimously accepted Mozambique’s appeal against that decision, allowing the republic’s allegations against Privinvest to be heard in a trial that would last for months and begin on October 3.

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