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Opinion | Iran and Israel Weren’t Always Enemies
  + stars: | 2024-05-08 | by ( Karim Sadjadpour | ) www.nytimes.com   time to read: +1 min
“History is littered,” the British writer and politician Enoch Powell said, “with the wars which everybody knew would never happen.”A full-blown conflict between the Islamic Republic of Iran and Israel once seemed implausible. Iran and Israel are not natural adversaries. In contrast to other modern conflicts — between Israel and Palestine, Russia and Ukraine, China and Taiwan — Iran and Israel have no bilateral land or resource disputes. Their national strengths — Iran is an energy titan and Israel is a tech innovator — are more complementary than competitive. Iran was the second Muslim nation, after Turkey, to recognize Israel after its founding in 1948.
Persons: Enoch Powell, specter, King Cyrus the Great Locations: Islamic Republic of Iran, Israel, United States, Iran, Palestine, Russia, Ukraine, China, Taiwan, Turkey
Israel's war should no longer be supported, professor says
  + stars: | 2024-03-25 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIsrael's war should no longer be supported, professor saysDavid Enoch, professor of the philosophy of law at the University of Oxford, says his initial support for the war was based partly on deterrence, and explains why it's no longer justified.
Persons: David Enoch Organizations: University of Oxford
Does your dog need a coat?
  + stars: | 2024-02-24 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +11 min
But all this begs the question: Does your dog need a coat? From high-fashion to high-performanceThere’s evidence of dog fashion and clothing throughout history — from the ancient Egyptians and 19th-century Paris dog boutiques to early 20th-century photographs of dogs wearing clothes. Prada's Re-Nylon puffer dog coat with hood comes in two colors and three sizes, $825 From PradaBut the transition from Fifth Avenue high-end and high fashion to high-performance and technical function has certainly accelerated in recent decades. Doberman Pinschers — along with sleek breeds like Greyhounds and Whippets — are prime candidates for dog coats because of their short hair, thin skin and minimal body fat. “Make sure the coat fits well for safety and they’re supervised while wearing the coat.
Persons: Jerry Klein, Klein, Godiva, Jessica Rinaldi, I’m, , Alan Fausel, Enoch Frères, ” Fausel, Tiffany, Bruiser Woods, ” Frank, “ Frasier, Prada, Gucci, Prada's, Peter Kearns, Batman, Robyn Baldrey, Joe Hafner, Voyagers, ” Hafner, That’s, ” Coats, Jackie Moord, Mark Makela, Nicole Wheatley, Shanoa, ’ ” Wheatley, MeadowCat, Wheatley, Minnesota’s Northwoods, Drogo, Lois Katchur, Richter, Whippets, Leon, Sypha, ” Wheatley, Jennifer Bruns, Kent Nishimura, ” Bruns, they’re Organizations: Minnesota CNN —, American Kennel Club, CNN, Boston, Boston Globe, AKC Museum, Prada, Fifth, American Pet Products Association, , Husky, PetSmart Veterinary Services, Los Angeles Times Locations: Anoka, Minnesota, Boston , Massachusetts, New York City, Paris, Seattle, Bend , Oregon, Santa Monica, It’s, Tacoma , Washington, Ada , Michigan, Rehoboth Beach , Delaware, Anoka , Minnesota, Minnesota’s, Muncy , Pennsylvania, Washington , DC
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSouth African foreign minister discusses Hague case against IsraelSouth Africa's Finance Minister Enoch Godongwana tells CNBC's Steve Sedgwick there is support for the view that the case brought against Israel in the Hague is substantive.
Persons: Enoch Godongwana, Steve Sedgwick Organizations: Israel South Africa's Finance, Israel Locations: Hague
South Africa's legal case accusing Israel of committing genocide against Palestinians in Gaza has "global support," the country's Finance Minister Enoch Godongwana told CNBC Monday. A two-day hearing last week at the International Court of Justice in the Hague, Netherlands, saw South African lawyers lay out arguments alleging that Israel's bombardment of Gaza that has caused massive casualties was tantamount to genocide. "Supporters of Israel of course, including the U.K., will say our application is nonsense but there is global support for our view that in fact, our case was substantive and we have argued our case." Turkey, Jordan, Brazil, Colombia, Bolivia, Pakistan and Malaysia are among the states that have publicly supported South Africa's application, along with the Organization of Islamic Cooperation. The Saudi-based organization consists of 57 member states, 48 of which are Muslim-majority countries.
Persons: Ronald Lamola, Israel, Enoch Godongwana, Godongwana Organizations: International Court of Justice, country's Finance, CNBC, South, United, Economic, Organization of Islamic Cooperation Locations: Africa's, South Africa, Israel, Gaza, The Hague, Netherlands, Hague, Africa, United Nations, Davos, Turkey, Jordan, Brazil, Colombia, Bolivia, Pakistan, Malaysia, Saudi
[1/2] Ash column rises from Mount Ulawun, as seen from an aeroplane window, Papua New Guinea November 21, 2023, in this picture obtained from social media. Enoch Lapa/via REUTERS Acquire Licensing RightsSYDNEY, Nov 21 (Reuters) - Some residents of a remote Papua New Guinea island were preparing on Tuesday to evacuate from the vicinity of an erupting volcano that shot a cloud of ash into the sky forcing the cancellation of some flights. Flights from the island's Hoskins airport had been cancelled, the broadcaster said, adding that the volcano was still erupting. Papua New Guinea is on the Pacific Ring of Fire, a horse-shoe shaped band of volcanoes and fault lines circling the edges of the Pacific Ocean. Reporting by Alasdair Pal in Sydney; editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.
Persons: Enoch Lapa, Clement Bailey, Hoskins, Alasdair Pal, Robert Birsel Organizations: REUTERS Acquire, Rights, NBC, Thomson Locations: Mount Ulawun, Papua New Guinea, Papua, Guinea, New Britain, Sydney
Dayton rallies, beats LSU in dramatic finish
  + stars: | 2023-11-16 | by ( Field Level Media | ) www.reuters.com   time to read: +2 min
[1/13] Nov 16, 2023; Charleston, South Carolina, USA; LSU Tigers guard Carlos Stewart (1) and Dayton Flyers forward Nate Santos (2) scramble for a ball in the first half at TD Arena. Brea's 3-pointer tied the score with 47 seconds left and LSU turned the ball over, leading to the game-winner. Daron Holmes made two free throws to produce the Flyers' first points of the half, but LSU scored the next six points to open a 46-32 lead. Enoch Cheeks' jumper ended a 4 1/2-minute field-goal drought for Dayton, which closed within nine points twice. The first half was extremely close from beginning to end, featuring 11 lead changes and five ties before LSU held a 32-30 edge lead.
Persons: Carlos Stewart, Nate Santos, David Yeazell, Santos, Javon Bennett, Koby Brea, Jalen Reed, Tyrell Ward, Will Baker, Nicholls, Ward, Derek Fountain, John's, Mike Williams, Baker, Daron Holmes, Enoch Cheeks Organizations: LSU Tigers, Dayton Flyers, TD Arena, Dayton, LSU, Charleston, Flyers, Tigers, St, North Texas, Thomson Locations: Charleston , South Carolina, USA, Charleston, S.C, Dayton, North Texas, St, North
Smith’s appearance with their two children, Jaden and Willow, and his son Trey Smith, was apparently a surprise for Pinkett Smith. “It is a sloppy public experiment in unconditional love,” he said, a description that prompted Pinkett Smith to double over in laughter. “Will and me are good,” Pinkett Smith told Laura Coates of CNN, who moderated Wednesday night’s discussion. Pinkett Smith told The Associated Press that she is feeling free since opening up about the separation. “It’s a weight off my shoulders, honestly,” Pinkett Smith said in an AP interview this week.
Persons: — Will Smith, Jada Pinkett Smith, “ Jada, , Enoch Pratt, Pinkett, Willow, Trey Smith, Pinkett Smith, “ Worthy, Will Smith’s, Adrienne Banfield, Norris, Smith, “ brutiful, “ Will, ” Pinkett Smith, Laura Coates, he’s, We’ve, Hoda, Chris Rock, Organizations: BALTIMORE, Baltimore, Enoch, Enoch Pratt Free Library, Baltimore Sun, CNN, Associated Press
CNN —Ford is laying off about 700 workers who build the F-150 Lightning, the electric version of its best-selling pickup truck, and unlike other recent layoffs this one has nothing to do with the ongoing strike by the United Auto Workers union. The company said overall demand for its electric vehicle lineup remains strong with a 65% increase in the third quarter. It has laid off nearly 2,500 workers so far, not counting those who had been building the Lightning. Workers laid off due to the strike are ineligible for unemployment benefits in most states. But the F-150 Lightning workers who are laid off will be eligible for both unemployment and sub pay, according to Ford spokesperson Jessica Enoch.
Persons: CNN —, Ford, Stellantis, Jessica Enoch, , Shawn Fain, Organizations: CNN, CNN — Ford, United Auto Workers, Electric Vehicle, , Lightning, Ford, General Motors, Kentucky, GM, Workers, Locations: Dearborn , Michigan, Kokomo , Indiana
A credit score under these thresholds is also called a sub-prime credit score, which means that creditors might think twice when reviewing your application for a credit line. However, a combination of serious negative marks on your credit score may seriously hurt your credit score, putting you on the lower end of the score range. While one credit check on your credit report may dent your credit score by a few points, several of these in a short period of time will significantly hurt your credit score. While one credit check on your credit report may dent your credit score by a few points, several of these in a short period of time will significantly hurt your credit score. Lowest credit score frequently asked questionsWhat is the lowest credit score to buy a house?
Persons: VantageScore, aren't, you'll, Enoch Omololu, Erik Beguin, Kendall Meade Organizations: Self, New Canadians, Austin Capital Bank Locations: annualcreditreport.com, Chevron
AQUIFERS AQUIFERS AQUIFERS WASH. MAINE MONT. MONITORING WELLS MONITORING WELLS MONITORING WELLS WASH. MAINE MONT. FLA. DECLINING WELLS DECLINING WELLS DECLINING WELLS WASH. MAINE MONT. FLA. UNCHARTED WATERS America Is Using Up Its Groundwater Like There’s No Tomorrow Overuse is draining and damaging aquifers nationwide, a New York Times data investigation revealed. Groundwater level trends Rising Declining Groundwater level trends Rising Declining Groundwater level trends Rising Declining Groundwater level trends Rising Declining Note: Colors depict the median trend for each site over the previous 20 years.
Persons: CONN, WELLS, Rebecca Noble, breadbasket, overpumping, ” Don Cline, There’s, Christopher Neel, Loren Elliott, Mr, Neel, they’re, , Bridget Scanlon, Ashraf Rateb, Warigia Bowman, ” Rebecca Noble, Farrin Watt, what’s, Brownie Wilson, Wilson, Watt, Bill Golden, , Fayetteville ARKANSAS Little Rock Texarkana Ayden Massey, Kevin Rein, haven’t, Rein, ’ ”, Charles County, Jason Groth, “ It’s, Saturday, Groth, CHARLES COUNTY, MARYLAND CHARLES, CHARLES COUNTY David Abrams, they’ve, homebuyers, Susan Asmus, ” Ms, Asmus, Upmanu Lall, Angelo Fernández Hernández, Biden, Ron Wyden, Wyden, Courtney Briggs, Overpumping, Cline, Dan Dubois, Ryan Smith, Smith, Bill Keach, Ann Tihansky, Joseph Cook, Rob Dotson, Enoch, ” Mr, Dotson, Claire O'Neill, Matt McCann, Umi Syam.Edited, Jesse Pesta, Douglas Alteen Organizations: ALA, MISS, IOWA NEB, N.J . OHIO NEV, DEL, UTAH W.VA, MAINE, New York Times, America, The Times, The New York Times, Hamptons, United States Geological Survey, Times, NEV . OHIO DEL, Oklahoma Water Resources Board, Jet Propulsion Laboratory, NASA, University of Texas, Oklahoma and, University of Tulsa, Groundwater Monitoring, Kansas, Wichita, Management, Livestock, Kansas Geological Survey, Kansas State University, Arkansas Department of State, Fayetteville ARKANSAS Little Rock, Fayetteville ARKANSAS Little Rock Texarkana, Arkansas Department of Agriculture, Colorado, Maryland Department of, U.S . Geological Survey, Environmental Protection Agency, ARIZONA Wells, ARIZONA Wells Phoenix Tucson ARIZONA Wells, ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells, ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells, ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells, Arizona Department of Water, National Association of Home Builders, Columbia Water Center, Columbia University, Democrat, Mr, Power, American Farm Bureau Federation, . Geological Survey, The Suffolk County Water Authority, Queens, Stanford, Colorado State University, Arizona Geological Survey, University of Arizona, The New York Locations: MAINE, MINN, VT, N.H . IDAHO S.D, N.Y, WIS, WYO, PA, IOWA, NEV . OHIO, UTAH, COLO . CALIF . VA, KAN . MO, KY, N.C, TENN, OKLA, ., MISS . TEXAS LA, FLA, N.H . IDAHO, R.I . PA, N.J . OHIO, N.D, N.J, ARIZ, WELLS, MONT, WELLS MAINE MONT, United States, Mississippi, Illinois, America, The, The New York Times States, Kansas, New York State, American, Phoenix, Utah , California, Texas, N.J . IOWA, CONN, Texas , Oklahoma, Colorado, Oklahoma, California, Arizona, Austin, Oklahoma and Texas, Wichita County, Western Kansas, Ogallala, Kansas City Topeka KANSAS Wichita, KANSAS, In Arkansas, Arkansas, Fayetteville, Fayetteville ARKANSAS Little Rock Texarkana, ARKANSAS, Maryland, Charles, Washington, Baltimore MARYLAND Washington, Baltimore Washington, MARYLAND, Potomac, U.S, ARIZONA, ARIZONA Wells Phoenix Tucson, ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson, ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson, ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson, ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells ARIZONA, Arizona , Texas, Utah, Oregon, , Florida, Gulf Coast and California, New York, Queens, Brooklyn, The Suffolk County, Parowan Valley , Utah, Norfolk, Va, Mexico, Vietnam, San Joaquin Valley, San Luis Valley, Enoch, Houston, Florida, Enoch’s
De-dollarization was a closely watched topic amid the BRICS summit last week. He said at a previous international meeting in July that it was important to establish an "independent financial system" based on local currency trade. But these international arrangements, trading arrangements, payment arrangements, these have been in place for a long time." AdvertisementAdvertisementInstead, South Africa appears to veer toward increasing the bloc's trade in local currencies. The economist who coined the term BRICS slammed the idea altogetherJim O'Neill, a former Goldman Sachs economist who first gave the BRICS bloc its name, has slapped down the idea of a common BRICS currency.
Persons: dollarization, SWIFT, Luiz Inacio Lula da Silva, Putin, Vladimir Putin, I'm, Hardeep Singh Puri, Puri, Xi, Xi Jinping, Enoch Godongwana, Paul Mashatile, Jim O'Neill, Goldman Sachs, O'Neill Organizations: Service, United, United Arab Emirates, Times, CNBC, Bloomberg, Financial Times Locations: Wall, Silicon, South Africa, Brazil, Russia, India, China, Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, United Arab, New Delhi, Johannesburg, South
Factbox: BRICS summit 2023: What's likely to be discussed?
  + stars: | 2023-08-18 | by ( ) www.reuters.com   time to read: +4 min
Putin will participate in the summit virtually and will be represented in Johannesburg by Foreign Minister Sergei Lavrov. BRICS EXPANSIONThe leaders are divided over the expansion of the bloc by adding new members, including the admission criteria. BRICS BANKThe group is also expected to discuss how to boost local currency fundraising and lending within the New Development Bank (NDB), or so-called BRICS bank. While the NDB, which was established in 2015, is still looking at the potential use of alternative currencies, there will be no talk about a common BRICS currency during the summit, South Africa's senior BRICS diplomat said. 'FRIENDS OF BRICS'The last day of the summit is expected to focus on talks with leaders from other countries.
Persons: Aly, Cyril Ramaphosa, Xi Jinping, Luiz Inacio Lula da Silva, Narendra Modi, Vladimir Putin, Putin, Sergei Lavrov, Enoch Godongwana, BRICS, Naledi Pandor, Emmanuel Macron, Macron, Pandor, Anait Miridzhanian, Olivia Kumwenda, Tim Cocks, Nick Macfie Organizations: New Development Bank, REUTERS, Rights, Indian, International, Africa's Finance, Federal Reserve, United Arab, South African Foreign, Ukraine, Continental Free Trade Area, Thomson Locations: Shanghai, China, Rights JOHANNESBURG, Brazil, Russia, India, South Africa, Johannesburg, Ukraine, Saudi Arabia, Iran, United Arab Emirates, Argentina, Indonesia, Egypt, Ethiopia, BRICS, United States, South, Bangladesh, Uruguay, Algeria, Honduras, Zimbabwe, Africa, Latin America, Asia, Caribbean, France, Russian
A view of logo of New Development Bank (NDB) at its headquarters in Shanghai, China July 10, 2023. Finance Minister Enoch Godongwana said boosting local currency usage among the NDB's members will also be on the agenda, with the aim of de-risking the impact of foreign exchange fluctuations rather than de-dollarisation. "Most countries that are members of the NDB have been encouraging (it) to provide loans in local currencies," Godongwana said. Reuters Graphics Reuters GraphicsSo far, China is by far the NDB's most successful local currency market. GROWING MEMBERSHIPNevertheless, the NDB, established with $10 billion in paid-in share capital from each BRICS country, wants to expand.
Persons: Aly, Enoch Godongwana, Godongwana, Leslie Maasdorp, Maasdorp, Alexander Ekbom, Chris Humphrey, Humphrey, Rachel Savage, Brenda Goh, Tannur Anders, Vincent Flasseur, Karin Strohecker, Joe Bavier, Alexander Smith Organizations: New Development Bank, REUTERS, Reuters, Finance, Federal Reserve, Reuters Graphics Reuters, U.S ., United Arab, Asian Infrastructure Investment Bank, Reuters Graphics, Overseas Development Institute, Thomson Locations: Shanghai, China, Africa, JOHANNESBURG, SHANGHAI, Russia, South Africa, Brazil, India, Johannesburg, Ukraine, United States, Mumbai, Brasilia, Bangladesh, United Arab Emirates, Egypt, Uruguay, Algeria, Honduras, Zimbabwe, Saudi Arabia, Asia, London
South African rand gains as dollar slips; inflation in focus
  + stars: | 2023-04-17 | by ( ) www.reuters.com   time to read: +1 min
JOHANNESBURG, April 17 (Reuters) - The South African rand gained against the dollar in early trade on Monday as the U.S. currency slipped on global markets , with local investors' focus on inflation data this week. At 0700 GMT, the rand traded at 18.0275 against the dollar, about 0.2% stronger than its closing level on Friday. There are no major South African economic data releases on Monday, so the rand is likely to track dollar moves. Analysts are looking to the March consumer price index (CPI) to gauge the success of the South African Reserve Bank's interest rate hikes in taming price pressures. The worst power cuts on record mean the prospects for growth in Africa's most industrialised economy this year are bleak.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDifficult to say if South Africa will face a recession this year, finance minister saysEnoch Godongwana, South Africa's Minister of Finance, says it is "difficult to say" whether the country will face a recession in 2023, noting that its economic forecasts have been downgraded recently amid ongoing load shedding. He adds that his "priority number one" is reforming the country's embattled power supplier Eskom.
Treasury said the government planned to take on 254 billion rand ($14 billion) of Eskom's 423 billion rand debt it said was at risk of default, to enable the utility to pay down the debt and interest obligations. South Africa has been struggling for years to overhaul Eskom, which is plagued by corruption and mismanagement and has received 263.4 billion rand in bailouts since 2008/09. Treasury said about 168 billion rand of Eskom’s debt relief will be in capital and 86 billion rand in interest payments over the next three years. Eskom's debt relief has strict conditions, Treasury said. A proposal to address the debt municipalities owe Eskom, at 56.3 billion rand as of end December 2022, was being finalised.
A senator in Kenya was asked to leave parliament because she had a period stain on her white suit. Enoch Wambua, another senator, said: "What Sen. Orwoba has done to this House today is disgraceful and shameful." Responding to her critics, Orowba said, "Mr. Speaker, Sir, this is the period stigma that is making our girls kill themselves. She continued: "Honestly, the most someone can do is come to me and tell me 'I am sorry, are you having period cramps, or shall I give you pain killers.' —Citizen TV Kenya (@citizentvkenya) February 17, 2023Orowba has consistently used her position to tackle period shaming and poverty in Kenya.
Janet Yellen, US Treasury secretary, during a news conference with Enoch Godongwana, South Africa's finance minister, at the National Treasury in Pretoria, South Africa, on Thursday, Jan. 26, 2023. Yellen met with South African officials including President Cyril Ramaphosa last week, just days after the country's Foreign Minister Naledi Pandor stood alongside Lavrov and vowed to strengthen bilateral relations between Pretoria and Moscow. South Africa was one of 17 African nations to abstain from the U.N. vote in March to condemn Russia's war of aggression. As such, many African nations desire a strong relationship with both the U.S. and China, and U.S. diplomacy will be more effective when not framed as an "us-or-them" proposition. What's more, the BRI projects were "largely uncoordinated and unplanned," he said, with competing Chinese lenders offering credit to African nations, challenging the notion of a coherent centralized "debt trap" policy from Beijing.
Police say Michael Haight, 42, shot and killed his wife, Tausha Haight, 40, her mother, Gail Earl, 78, and the couple's five children, three girls, and two boys ages 4 to 17, before committing suicide. The couple had five children: Macie Haight, 17, Briley Haight, 12, Ammon Haight, 7, Sienna Haight, 7, and Gavin Haight, 4. The officer told her there was no indication Michael Haight would respond with violence, according to the report. At some point prior to the massacre, Tausha Haight told family members that her husband removed all the firearms from the home, her sister-in-law, told the AP. Park said he last met with Tausha Haight on Tuesday, January 3 — the day before the family's bodies were discovered.
[1/3] U.S. Treasury Secretary Janet Yellen attends media briefing ahead of bilateral talks with South Africa's Finance Minister Enoch Godongwana (not pictured), at the treasury offices in Pretoria, South Africa, January 26, 2023. The United States, Britain, France, Germany and the European Union backed South Africa's "Just Energy Transition Partnership," or JETP, in late 2021 with a combined $8.5 billion, but the total cost could be ten times that high. "The United States' commitment to the energy transition being 'just' is firm. That is why President Biden made an additional commitment to President Ramaphosa of $45 million in grant funding to support South Africa’s efforts," Yellen said. But President Cyril Ramaphosa's plan to transition South Africa away from coal and towards renewable energy has divided the governing African National Congress (ANC).
[1/3] U.S. Treasury Secretary Janet Yellen attends media briefing ahead of bilateral talks with South Africa's Finance Minister Enoch Godongwana (not pictured), at the treasury offices in Pretoria, South Africa, January 26, 2023. REUTERS/Siphiwe SibekoJOHANNESBURG, Jan 27 (Reuters) - South Africa needs concrete action soon if it is to maintain momentum on an energy transition program backed by the United States and other countries, U.S. Treasury Secretary Janet Yellen said on Friday after visiting the coal mining region of Mpumalanga. She expressed hope that Washington's focus on a just energy transition would underpin donor interest in backing the nearly $100 billion project aimed at supporting South Africa's gradual phasing out of fossil fuels. The United States, Britain, France, Germany and the European Union have backed South Africa's "Just Energy Transition Partnership" with a combined $8.5 billion, which Yellen called a "substantial down payment" designed to mobilise additional money. "An energy transition that is not just will simply not work.
[1/4] U.S. Treasury Secretary Janet Yellen and South Africa's Finance Minister Enoch Godongwana attend media briefing ahead of bilateral talks, at the treasury offices in Pretoria, South Africa, January 26, 2023. He said Yellen's visit was a "momentous" occasion, noting the previous visit by a U.S. Treasury secretary was in 2014. South Africa has remained one of Moscow's most important allies on a continent divided over Russia's invasion of Ukraine on Feb. 24 last year. The Treasury secretary, who meets with South Africa's central bank governor later on Thursday, singled out South Africa's "Just Energy Transition Partnership," which was backed in late 2021 by the United States, Britain, France, Germany and the European Union. They pledged a combined $8.5 billion to accelerate South Africa's transition away from fossil fuels to renewable energy, but the total bill will be much higher.
[1/4] U.S. Treasury Secretary Janet Yellen and South Africa's Finance Minister Enoch Godongwana attend bilateral talks, at the treasury offices in Pretoria, South Africa, January 26, 2023. Nevertheless Lavrov made a stopover after visiting South Africa, which his counterpart Thulisile Dladla described as a "profound honour." Eswatini relies on the United States for aid, but its absolute monarchy has suffered U.S. criticism on human rights. South Africa, alongside Russia and China, is pushing for a "multipolar" world in which geopolitical power is less concentrated around the United States. "It hasn't delivered the kind of benefits South Africa was hoping to get."
South Africa has been struggling for years to overhaul its state-power company which is plagued by corruption and mismanagement and reeling under a 400 billion rand ($23.3 billion) debt pile. Finance Minister Enoch Godongwana told Reuters last week he was "sharpening his pencil" to provide details, so far scarce, for taking on between one- and two-thirds of Eskom's debt in his Feb. 22 budget presentation. Eskom's debt pile is not just big, it is also complex. Another 15% is international bonds, held by global asset managers such as PIMCO, BlackRock and Fidelity, according to recent filings. Eskom's international bonds could rally if the government takes on two-thirds of the debt, Wolman said, while limiting that to one third or carrying out the debt transfer over a long period of time could be negative.
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