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| Identifier | Subject | Date | Office | Classification | Tags |
|---|---|---|---|---|---|
| 04CARACAS162 |
GOV FLOATS USD 1 BILLION BOND ISSUE [...] (C) Venezuela issued its fifth tranche of bonds in the past six months on January 7. The new bonds raised USD 1 billion for the GOV and were in heavy demand due to their high offered yield. With a high rate of financing needed for the FY 2004 budget deficit and debt service, more bond operat [...] |
2004-01-16 13:47:00 | Embassy Caracas | CONFIDENTIAL//NOFORN | ECON PGOV VE FIN |
| 04LILONGWE1073 |
MALAWI: TRANSPARENCY OF BUDGETS/MILITARY SPENDING [...] General Overview of Auditing Procedures: With an instituted public finance act of Parliament, Malawi's military expenditures are audited by the Auditor General, as is the case with all other Government institutions. Audit reports are circulated to relevant civilian ministries: Defense, Financ [...] |
2004-11-23 12:37:00 | Embassy Lilongwe | UNCLASSIFIED | EFIN EAID MASS MARR MI BUD FIN |
| 04LILONGWE1175 |
MALAWI INVESTMENT CLIMATE STATEMENT, 2005 [...] Openness to Foreign Investment A. The Government encourages both domestic and foreign investment in most sectors of the economy, without restrictions on ownership, size of investment, source of funds, and destination of final product. The Competition And Fair Trading Act -- passed by Parli [...] |
2004-12-30 13:50:00 | Embassy Lilongwe | UNCLASSIFIED | KTDB EINV EFIN ETRD ELAB PGOV OPIC USTR BUD FIN |
| 04LILONGWE240 |
PARLIAMENT APPROVES SUPPLEMENTARY BUDGET AND [...] (SBU/NF) Before Parliament's March 20 dissolution, the House passed the controversial "compromise" version of the Corrupt Practices amendment, a supplementary budget, and other minor pieces of legislation. At present, the "compromise amendment" appears sufficient to fulfill the IMF's relaxed [...] |
2004-03-25 05:45:00 | Embassy Lilongwe | UNCLASSIFIED//FOR OFFICIAL USE ONLY | PGOV ECON EAID MI BUD FIN |
| 04LILONGWE968 |
MALAWI'S BUDGET APPROVED [...] (U) Malawi's Parliament approved the FY 2004/05 budget on September 24. During the course of deliberations, Parliament added MK4.2 billion ($39 million) of additional spending, principally for HIV/AIDS programs. The deficit would remain at about MK8.5 billion ($79 million), or 4.3 percent of [...] |
2004-10-08 11:12:00 | Embassy Lilongwe | UNCLASSIFIED//FOR OFFICIAL USE ONLY | ECON EFIN EAID ETRD PREL MI BUD FIN |
| 05LILONGWE109 |
MALAWI REPLACES RESERVE BANK GOVERNOR [...] (U) The GOM announced on Tuesday that Reserve Bank of Malawi (RBM) Governor Elias Ngalande is to be replaced at the end of his contract on February 28. He is to be replaced with the recently retired chief executive and current chairman of Stanbic Bank, Victor Mbewe. Stanbic is Malawi's secon [...] |
2005-02-04 06:26:00 | Embassy Lilongwe | CONFIDENTIAL | ECON EFIN EINV PREL MI BUD FIN |
| 05LILONGWE177 |
MALAWI LOSES GARMENT MANUFACTURER [...] (U) SUMMARY: Haps Investments, one of Malawi's largest AGOA garment manufacturers, has ceased operations, putting over 2,000 employees out of work. The closure stems from the financial failure of the Taiwanese parent company, which apparently faltered as a result of losses suffered at its ope [...] |
2005-02-25 10:02:00 | Embassy Lilongwe | UNCLASSIFIED//FOR OFFICIAL USE ONLY | ECON ETRD EIND MI AGOA BUD FIN |
| 05LILONGWE198 |
IMF ON MALAWI: GOOD PERFORMANCE, BUT NO FUNDING YET [...] (SBU) In a mid-mission briefing earlier this week, an International Monetary Fund (IMF) team said Malawi has performed strongly since its November review (ref A) and has good prospects of continued good performance through the end of its fiscal year (end June). The mission was examining fisca [...] |
2005-03-02 14:28:00 | Embassy Lilongwe | CONFIDENTIAL | ECON EFIN EAID PREL MI BUD FIN |
| 05LILONGWE227 |
DEBT PROPOSAL A PLEASANT SURPRISE FOR MALAWI [...] (SBU) Over the past week, Embassy has discussed the relative merits of the U.S. and U.K. proposals for debt relief to poor countries (reftel) with senior Malawian officials in ministries of finance, foreign affairs, and economic planning. To a person, our interlocutors have been unaware of ev [...] |
2005-03-10 14:06:00 | Embassy Lilongwe | UNCLASSIFIED//FOR OFFICIAL USE ONLY | ECON EFIN PREL EAID PA MI BUD FIN |
| 05LILONGWE283 |
MALAWI KWACHA UNDER SPECULATIVE PRESSURE [...] (U) Malawi's banks are reporting a surge in demand for foreign currency. Experts attribute the surge to speculation that the GOM may devalue the currency as the tobacco auction starts on March 29 or shortly afterward. The governor of the central bank has given no clear signals, though it appe [...] |
2005-03-29 08:43:00 | Embassy Lilongwe | UNCLASSIFIED//FOR OFFICIAL USE ONLY | EFIN EINV ECON MI BUD FIN |
| 05LILONGWE409 |
MALAWI'S BUDGET CONSULTATIONS [...] (U) In preliminary budget consultations with donors, Finance Minister Goodall Gondwe sketched an FY 2005/06 budget that would include some tax reform, allocations for humanitarian food relief, and a comparatively modest fertilizer subsidy. The budget for development will be increased by 35 pe [...] |
2005-05-13 11:56:00 | Embassy Lilongwe | UNCLASSIFIED//FOR OFFICIAL USE ONLY | ECON EFIN PREL KMCA BUD FIN |
| 05LILONGWE447 |
RURAL LOAN PROGRAM ENDANGERS MICROFINANCE SECTOR [...] Summary: Against the advice of donors and banking experts, the GOM has launched a controversial rural loan program with subsidized interest rates, administered by a state-owned bank that has no experience in microfinance. The U.S. and other donors have expressed our concerns, but the GOM is de [...] |
2005-05-26 06:33:00 | Embassy Lilongwe | UNCLASSIFIED//FOR OFFICIAL USE ONLY | PGOV ECON EFIN EAID EAGR KMCA MI BUD FIN |
| 05LILONGWE448 |
GOVERNMENT CLOSES FINANCE BANK OF MALAWI [...] (U) In a move that took the Malawian business community by surprise, the GOM revoked the license of Finance Bank of Malawi (FBM) and closed the bank without warning on May 19. In public statements, the GOM has said the bank was regularly violating the country's banking regulations. GOM sources [...] |
2005-05-26 09:50:00 | Embassy Lilongwe | CONFIDENTIAL | EFIN KCOR KMCA EINV PREL MI BUD FIN |
| 05LILONGWE496 |
MALAWI REOPENS FINANCE BANK [...] (SBU) SUMMARY: Finance Bank of Malawi was allowed to reopen under Reserve Bank curatorship. The bank is experiencing a mild run, as Reserve Bank imposed restrictions curb withdrawals for the moment. With Finance Bank's shady customer base, liquidation seems a more likely outcome than a recov [...] |
2005-06-10 11:01:00 | Embassy Lilongwe | UNCLASSIFIED//FOR OFFICIAL USE ONLY | EFIN ETTC EINV ECON MI BUD FIN |
| 05LILONGWE506 |
MALAWI BUDGET DEBATE BEGINS [...] (SBU) Malawi's finance minister presented the FY 2005/06 budget on June 10 to open parliamentary debate. The budget includes a sharply lower deficit, some paydown of both domestic debt and government arrears, and line items for food security and a fertilizer subsidy. While opposition is thre [...] |
2005-06-16 06:42:00 | Embassy Lilongwe | UNCLASSIFIED//FOR OFFICIAL USE ONLY | ECON EAID EFIN MI BUD FIN |
| 05LILONGWE507 |
MALAWI ADOPTS U.S. TAX RECOMMENDATIONS IN BUDGET [...] (SBU) In presenting the draft budget to Parliament on 10 June, Malawi's finance minister proposed several tax reforms which follow recommendations made by U.S. Treasury experts. The changes include a higher floor and simpler structure for personal income tax, lower excise rates on most imports, [...] |
2005-06-16 06:43:00 | Embassy Lilongwe | UNCLASSIFIED//FOR OFFICIAL USE ONLY | EFIN ECON EINV EAID MI BUD FIN |
| 05LILONGWE577 |
PARLIAMENT RECONVENES TO FOCUS ON BUDGET [...] Parliament reconvened on Thursday, July 7, to focus on passing the budget for 2005/06. This is the first meeting of Parliament since the late Speaker collapsed on the floor of the House on June 23 during debate over Presidential impeachment procedures. MPs seemed focused on addressing the bu [...] |
2005-07-07 14:47:00 | Embassy Lilongwe | UNCLASSIFIED | ECON EFIN KDEM PREL PGOV KCOR MI BUD FIN |
| 05LILONGWE606 |
PARLIAMENT PASSES BUDGET; INCREASES FERTILIZER [...] Parliament passed the 2005/06 budget on July 15th, after amending it to include a larger and universal fertilizer subsidy. Government met opposition demands by increasing the fertilizer subsidy by 2.6 billion Kwatcha ($21.4 million US). They did so by cutting a number of ministry budgets, whil [...] |
2005-07-18 07:17:00 | Embassy Lilongwe | UNCLASSIFIED | EAID ECON EFIN PGOV MI BUD FIN |
| 07DOHA271 |
QATAR'S LEADING BANKS SUPPORT ERO DIVERSIFICATION [...] Summary. In iscussions with senior management of Qatar's top two banks, Qatar National Bank and Doha Bank, Emboffs learned that the private sector anticipates Qatar's continued diversification away from the dollar as the country becomes more involved in the global economy. Bank officials also s [...] |
2007-03-12 10:37:00 | Embassy Doha | UNCLASSIFIED | ECON FIN QA |
| 07LUXEMBOURG187 |
LUXEMBOURG ON EXPORT CREDITS TO IRAN [...] No summary [...] |
2007-05-18 14:21:00 | Embassy Luxembourg | UNCLASSIFIED | PREL FIN MNUC EXIM OECD UNSC IR LU |
| 07RANGOON1076 |
BURMA SANCTIONS HITTING THE REGIME WHERE IT HURTS [...] (C) Summary. The Burmese regime, concerned about the latest U.S. economic sanctions, called several key businessmen to Nai Pyi Taw, including Tay Za and Steven Law, to discuss how best to deal with the sanctions. According to business contacts, the senior generals, unhappy with Tay Za for " [...] |
2007-10-31 11:22:00 | Embassy Rangoon | CONFIDENTIAL | ECON FIN PGOV PREL BM |
| 08BEIRUT316 |
LEBANON: COMMERCIAL SUCCESS STORIES [...] Date: December 28, 2007 Post: Beirut Action Officer: Naaman Tayyar, Senior Commercial Specialist Country: Lebanon Company: Fisher Labs Inc. Company Headquarters (state, zip code): North Haven, CT 06473 Issue/project: Agency Agreement between the U.S. firm Fisher Labs Inc. and the Lebanese fi [...] |
2008-02-29 15:36:00 | Embassy Beirut | UNCLASSIFIED | BEXP ETRD ECON EINV FIN LE |
| 08VALLETTA304 |
MALTESE FIRM REPORTS BUSINESS DEALINGS WITH IRAN [...] (C) As reported reftel, Mark Camilleri, a Maltese businessman who represents private business interests based in Iran, met with Embassy officials as part of his due diligence in concluding a deal with the Iranian entity "Iranian Investment Company" (IIC). Subsequent to this conversation, Cami [...] |
2008-07-21 13:19:00 | Embassy Valletta | CONFIDENTIAL | FIN KTFN PTER ETTC UNSC MT PREL |
| 09BEIRUT316 |
LEBANON: COMMERCIAL SUCCESS STORIES [...] Date: January 29, 2009 Post: Beirut Country: Lebanon Company: ACE Hardware Company Headquarters (state, zip code): IL 60523 Issue/project: Opening of ACE Hardware's first store in Lebanon. Specific Actions Taken: ACE Hardware applied for a construction permit on October 25, 2007 to build it [...] |
2009-03-18 08:52:00 | Embassy Beirut | UNCLASSIFIED | BEXP ETRD ECON EINV FIN LE |
| 09TOKYO623 |
ADB SAFEGUARDS [...] (C) Embassy Tokyo Political Officer delivered reftel demarche to Satoshi Suzuki, Director of the Environmental and Social Considerations Review Division (Southeast Asia and Pacific) at JICA (Japan International Cooperation Agency). Suzuki responded that JICA is at present working with the Japa [...] |
2009-03-19 22:40:00 | Embassy Tokyo | CONFIDENTIAL | ECON PAS MDO RAS FIN DOE DCM AMB DAO AID CON |