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BRICS vs. Dollar: Trump Issues Trade Threats To Emerging Bloc

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President-elect Donald Trump has issued a sharp warning to BRICS nations, threatening to impose a 100% tariff on their exports to the United States if they pursue efforts to reduce reliance on the US dollar in international trade.

In a statement posted on his Truth Social platform, Trump demanded assurances from the BRICS bloc—which includes Brazil, Russia, India, China, and South Africa, along with new members such as Iran, Egypt, and the UAE—that they would abandon any plans to create an alternative global currency.

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“We require a commitment… that they will neither create a new BRICS Currency, nor back any other currency to replace the mighty US Dollar, or they will face 100 percent tariffs,” Trump wrote.

The warning follows the BRICS summit in Kazan, Russia, where member states discussed measures to strengthen local currencies and reduce reliance on the dollar in trade.

A joint declaration issued at the summit endorsed initiatives such as expanding correspondent banking networks and enabling settlements in local currencies under the BRICS Cross-Border Payments Initiative.

Despite these discussions, Russian President Vladimir Putin acknowledged that progress on more ambitious goals—such as a unified BRICS currency or a competitor to the SWIFT financial messaging system—remains limited.

“As for SWIFT and any alternatives, we have not created and are not creating any alternatives,” Putin said at the conclusion of the summit. He added, “As for a unified BRICS currency, we are not considering that question at the moment.”

Trump, however, dismissed such reassurances, signaling his intent to protect the dollar’s dominance in global trade.

“If BRICS countries continue with their plans, they should expect to say goodbye to selling into the wonderful US Economy,” he warned.

“They can go find another ‘sucker!’ There is no chance that the BRICS will replace the US Dollar in international trade, and any country that tries should wave goodbye to America.”

This marks a continuation of Trump’s protectionist trade agenda, which defined much of his first term in office.

His administration imposed steep tariffs on countries such as China and Mexico, citing the need to safeguard American industries.

 

 

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Namibia Elects First Female President Amid Controversial Polls

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Namibia’s ruling SWAPO party has declared victory in last week’s tightly contested election, ushering in Vice-President Netumbo Nandi-Ndaitwah as the country’s first female president.

The announcement marks a historic moment for the southern African nation but comes amid allegations of irregularities that have cast a shadow over the results.

The Electoral Commission of Namibia (ECN) confirmed that Nandi-Ndaitwah secured 57% of the vote, defeating Panduleni Itula of the opposition Independent Patriots for Change (IPC), who received 25.5%.

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However, the IPC has rejected the results, citing widespread failures in the electoral process.

“The IPC shall not recognise the outcome of that election,” said Itula, accusing the electoral commission of mismanagement. He pointed to what he described as a “multitude of irregularities” and vowed to challenge the results through Namibia’s legal system.

Addressing supporters last week, Itula called for calm while urging them to “stand firm to ensure that we shall not be robbed [or] denied our democratic right to choose our leaders.”

IPC spokesperson Imms Nashinge reiterated the party’s stance after the results were announced, maintaining that the election lacked credibility.

The election, originally scheduled for November 27, was extended to November 30 due to logistical challenges, including a shortage of ballot papers and malfunctioning electronic voter registration devices.

Many voters reportedly waited up to 12 hours, with some leaving polling stations without casting their ballots.

An organization of southern African human rights lawyers monitoring the polls described the delays as “intentional and widespread.”

The IPC similarly alleged that the logistical issues were a deliberate effort to suppress voter turnout.

The ECN acknowledged the failures, with its chairperson, Elsie Nghikembua, calling for unity. “Elections are competitive by nature, but democracy calls upon us to unite once the votes have been counted.

“I urge all Namibians to embrace the results with the spirit of unity, diversity, understanding, and reconciliation,” she said.

The election was seen as a critical test for SWAPO, which has governed Namibia since independence in 1990.

The party’s support has waned in recent years, particularly among younger voters frustrated by high unemployment and economic inequality.

Unemployment among Namibians aged 15 to 34 is estimated at 46%, nearly triple the national average.

While SWAPO retained its majority in the National Assembly with 51 seats, this marked a significant drop from its previous 63 seats. The IPC secured 20 seats, solidifying its role as the main opposition party.

At 72, Nandi-Ndaitwah becomes one of the few female leaders on the African continent.

Known for her steady demeanor and often seen wearing the red, blue, and green colors of SWAPO, she campaigned on a platform of economic diplomacy and job creation.

“Fellow Namibians, we must work together to address unemployment, inequality, and infrastructure development,” Nandi-Ndaitwah said after the results were announced.

As the daughter of an Anglican pastor, she has long been a prominent figure in Namibian politics, serving as vice president since February and as a trusted stalwart within SWAPO.

Despite being a major exporter of uranium and diamonds, Namibia faces significant economic challenges.

Analysts say much of the country’s wealth has not translated into improved infrastructure or job opportunities for its nearly three million citizens.

 

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26 Injured As Protests Against Georgian Gov’t Intensify

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The Georgian Health Ministry reported Tuesday that 26 people, including 23 protesters and three law enforcement officers, were injured during overnight clashes in the capital, Tbilisi.

The violence marked the fifth consecutive day of anti-government demonstrations as the political crisis in the country deepens.

Georgia has been gripped by unrest since the October parliamentary elections, which opposition groups allege were marred by irregularities.

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The recent protests were triggered by Prime Minister Irakli Kobakhidze’s announcement last week that discussions on Georgia’s accession to the European Union would be postponed until 2028.

Monday night’s demonstrations saw riot police deploy tear gas against hundreds of protesters, predominantly young activists, who retaliated by launching fireworks.

The Health Ministry confirmed that none of the injuries sustained were life-threatening, though some individuals remain under medical observation.

International criticism of Georgia’s handling of the protests has intensified.

Several Western nations and the United Nations human rights chief have condemned the police’s “disproportionate” use of force against demonstrators.

Protesters have accused the ruling Georgian Dream party of stalling the country’s European integration process and aligning too closely with Moscow.

The political crisis has exacerbated divisions in the country, with pro-EU factions calling for the government’s resignation and immediate steps toward EU membership.

 

 

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Ghana Risks Government Shutdown Amid Budget Impasse

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Ghana’s parliament is unlikely to pass a provisional budget ahead of the December 7 general elections, raising concerns of an unprecedented government shutdown in early 2024.

The delay comes as the West African nation prepares to elect a successor to President Nana Akufo-Addo, whose two-term mandate ends in January.

Historically, a provisional budget is passed in November during election years to ensure the government operates smoothly until the incoming administration takes office.

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However, political gridlock and a legal battle over parliamentary majority have stalled progress this year.

“We risk a government shutdown or, at best, lean government spending from January,” said Seth Terkper, Ghana’s finance minister from 2013 to 2017, in an interview.

He warned that without a budget, the government might have to slash interest payments and funding for the transition process.

Parliament has been on indefinite break since October 23 due to a dispute over which of the two main political parties holds the majority of seats.

The Supreme Court ruled on November 12 that Speaker Alban Bagbin’s earlier declaration of the majority was unconstitutional.

Despite this, Bagbin has refused calls to reconvene parliament, arguing that it would disrupt the election campaigns.

“This situation is unprecedented,” said Patrick Yaw Boamah, chairman of parliament’s finance committee.

The Finance Ministry set a November 15 deadline for presenting the provisional budget, but no progress has been made.

With only weeks left before the end of the year, experts warn that Ghana’s economy, already under strain, could face severe disruptions if the impasse continues.

Ghana, the world’s second-largest cocoa producer, has not faced a budget failure in over three decades.

A government shutdown could disrupt essential services, including salary payments for public sector workers and interest obligations.

Labour unions are particularly concerned about the potential fallout.

“It’s a big problem,” said Joshua Ansah, head of the Trades Union Congress. “We hope they resolve it before January so it doesn’t affect salaries.”

 

 

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