IMF Concerned About Haiti Crisis

first_imgPORT-AU-PRINCE, Haiti – The International Monetary Fund (IMF) has expressed concern about the sociopolitical crisis in Haiti, emphasizing the urgency of restoring political and macroeconomic stability, addressing poverty and inequality, and tackling corruption.The IMF executive board is also calling on all stakeholders to work toward a broad-based national dialogue to address the country’s daunting challenges, and to realize the potential scope for much stronger and more inclusive growth.The board is encouraging continued close cooperation with donors and the fund, including through technical assistance, and welcomed the Country Engagement Strategy as a basis for future fund engagement.The IMF directors say severe fiscal constraints necessitate shifting scarce resources away from non-priority spending toward social programs and investment, and underscored the importance of limiting monetary financing of fiscal deficits and preparing a national budget for financial year 2020.They are encouraging Haitian authorities to focus on measures to boost domestic revenues and reduce exemptions in the near term, while working to strengthen tax administration, prepare a resolution plan for budget arrears, and bolster public financial management.The IMF has commended the authorities for progress on the new national plan for social protection, and stressed the need to advance its approval and focus on a limited number of cash transfer programs.Last week, the executive board of the IMF concluded the Article IV 2019 consultation with Haiti. According to the IMF, since March 2019 Haiti has been experiencing a protracted political crisis and prolonged civil unrest that have at times shut down most economic activity in the country.It noted the crisis has taken a toll on the economy and the already vulnerable population—inflation exceeded 20 percent year-on-year in September, output is estimated to have contracted by an 1.2 percent in fiscal year 2019, and the exchange rate depreciated by 25 percent over the same period.As fiscal revenues plummeted and the cost of energy subsidies increased, the fiscal deficit widened to 3.8 percent of gross domestic product (GDP) last year and domestic arrears rose sharply.The public debt-to-GDP ratio jumped from 40 percent to 47 percent over the fiscal year, the IMF said.The IMF acknowledged the authorities are making considerable efforts to limit the deterioration and the Ministry of Finance is implementing measures to improve revenue collection and better control spending and, in November, signed a new agreement with the central bank to strengthen fiscal discipline and limit monetary financing of the Government.The central bank has been adjusting its interest rates to contain inflation while at the same time trying to support the private sector through the recession.But the IMF also noted that without sustained implementation of good policies and comprehensive reforms the outlook remains grim.“Under the baseline assumption of some political stabilization in 2020, without major political or economic reforms growth would improve but remain negative this year and below 1.5 percent over the medium term.“Inflation is expected to decline slightly before eventually falling to below 10 percent by 2025. Risks to the outlook are primarily on the downside but political stability could bring important upsides.“A resolution of the current crisis, appointment of a new government committed and able to implement reforms, and return of support from the international community could lead to higher investment and potential growth,” the IMF advised.last_img read more

Miami-Dade Beaches Reopen June 10; Curfew Lifted

first_imgNo groups of more than 10 peopleBeachgoers must have facial coverings available (must be worn when social distancing of 6 feet cannot be achieved, except for members of the same household)Facial coverings must be worn in restrooms and concessionsNo coolersNo floats After being postponed for more than a week, Miami-Dade’s beaches will finally reopen tomorrow, June 10. The county has outlined the specific guidelines for reopening: Requirements: Activities Permitted: Activities not Permitted: Walking (with face covering if social distancing cannot be maintained) and jogging (with face covering lowered and with joggers maintaining a social distance of 12 to 15 feet)Established pathways will be made one-waySwimming/surfing (body, kite)/paddle-boarding/kayakingSunbathing or sitting on individually-owned beach chairs and/or beach towels, where permitted – a minimum of 6 feet apartEating among members of the same household (up to 10 people)Outdoor showers may be used as long as social distancing is maintained; mark the approach leading to outdoor shower pads to enforce 6 feet social distancing amongst beachgoers waiting to use the showersIf surf or beach conditions at a beach become too dangerous, it will be closed for water activities The county’s beaches were initially set to reopen on June 1 but a series of protests throughout the state resulted in a countywide curfew and the postponement of the reopening of beaches. Miami-Dade County Mayor Carlos Gimenez, on Monday, lifted the curfew and announced that beaches would reopen. No shared equipment (i.e. beach chairs, umbrellas, coolers, ) among people from different householdsNo canopies or tentsNo organized or group activities and athletics involving groups of two or more (for example, volleyball, football, soccer, frisbee, paddle ball, )No gatherings of people from different households, unless social distancing guidelines are maintained – group size shall not exceed 10 persons at any timeAreas of social gathering in beach parks, including bathhouses (changing rooms), picnic pavilions, playgrounds are not to be accessibleNo special events, including group picnicsNo use of exercise equipment and playgroundsNo dogs/pets on the beachNo fishing on the beach, except at areas specifically designated and while following social distance guidelinesEliminate the use of common water fountains and interactive displayslast_img read more

UEFA Women’s EURO 2017 Final Preview

first_imgTwo first-time finalists will on Sunday make their way out of the FC Twente Stadion dugout in Enschede for the final of the UEFA Women’s EURO 2017, with both looking to make the night a historic one for their country.Either hosts the Netherlands or Denmark – both emerging from Group A – will become the fourth different Women’s EURO champions after what is expected to be an intense game.Like it has been since the opening match, the Netherlands will have the massive backing of their fans on the night but asides that, their very impressive performance has seen them maintain a perfect run of five wins from five matches conceding just one goal.Denmark, on the other hand, have only lost once in their journey to the final and coincidentally, that defeat was at the hands of the Netherlands in the group stage. The game ended 1-0 with Sherida Spitse scoring from the penalty spot.However, compared to the Dutch, the Danes have a longer history with the tournament, making it to five semi finals and finally crossing that hurdle on their sixth attempt. Meanwhile, this is the Netherlands only third appearance since they made their debut in 2009.The combination of Lieke Martens, Vivienne Miedema and Shanice van de Sanden for the Oranje have been a constant threat to opponents. Then there is Sari van Veenendaal who has been solid in between the sticks for the hosts.For the Danish side, Captain Pernille Harder has indeed been leading by example. Nadia Nadim and Stine Larsen are two other key players that have also helped them come this far. Their victory over eight-time Champions Germany is also expected to come in handy as some form of inspiration.Time for the final is 17:00 CET and there would be a sold-out crowd to witness the showpiece.RelatedUEFA Women’s Euro Quarter-final Preview: Will Austria’s Fairytale Run ContinueJuly 29, 2017In “UEFA”UEFA Women’s Euro 2017: Favourites Falter As Underdogs March OnJuly 31, 2017In “Europe”Oranje: The New Colour Of Love In The NetherlandsAugust 8, 2017In “Europe”last_img read more

Mbappe Question Mark

first_imgMbappe, the new kid on the block, could well do a Renato Sanches in 12 months.Money bags, Paris Saint-Germain proved there is no stopping them in their bid to flex their financial muscles with the season-long loan signing of French wonder-kid Kylian Mbappe.Reports suggested the French giants only negotiated a loan deal with Monaco in order not to flout UEFA Financial Fair Play (FFP) regulations. In a summer where the capital club spent a world record £198million transfer fee on Neymar, there was no limit to their spending power when they earmarked Mbappe as the next big acquisition, a £165.7million transfer which becomes activated next summer.The prospects of Neymar and Mbappe lining up in PSG’s new formed attack, leaves even the fiercest rivals grinning with admiration. Considering this is a season preceding the FIFA World Cup, Mbappe’s decision could cost him a place in the eventuality of Le Bleu progressing to the tournament in Russia.The burden of potentially being the second most expensive player in football history could be too much to handle for the 18-year-old teenage sensation. A bad season with the Parc des Princes outfit could well have PSG having a rethink about an agreement made in the summer.For the avoidance of doubt, football player’s careers quickly go south, in an era where the beautiful game appears to have lost its true value.Renato Sanches is a typical example of an exciting young talent, whom so much was expected of following his 2016 transfer from Benfica to Bayern Munich for an eye-popping 85m euro!The then 18-year-old (coincidentally Mbappe’s present age) was regarded as the next big thing in world football, and even turned down a move to Manchester United in favour of a switch to the Bavarian giants.A month after the completion of his big money transfer to Germany, he was a European Championship winner with Portugal, his first major tournament at senior international level, been selected Young Player of the tournament.Sadly, Sanches struggled for form in his new task and environment, though it must be noted he arrived Bayern Munich injured.From the above analysis, Mbappe could well have been suited to spend an extra season at Monaco, play with less pressure, familiar teammates and environment, which potentially aids his overall football development and thereafter proceed to make magic at a major European heavyweight other than PSG!RelatedBREAKING: PSG Signs Kylian Mbappe From MonacoAugust 31, 2017In “Europe”VIDEO: PSG Unveils Kylian MbappeSeptember 6, 2017In “France”Zinedine Zidane Expresses Interest In Working With Kylian MbappeMarch 15, 2019In “Spain”last_img read more

Spanish La Liga: Espanyol, Levante Clash Ends In Stalemate

first_imgHosts Espanyol and newly promoted Levante played out an uninspiring goalless draw in their Matchday 8 league clash earlier on Friday night.Catalan side Espanyol had the chance to steal a march on their opponents on the league table but failed to capitalise as the visitors battled hard for a point to stay in the top 10 in the Spanish La Liga.Levante started the day in the top 10 and they maintained that position in 10th spot with 10 points while Quique Sanchez Flores’ side move from 14th to 11th position (9 points) with the point recorded as a result of the draw.RelatedLa Liga Review: Deportivo’s Survival Hopes Falter In Espanyol DrawFebruary 24, 2018In “Europe”La Liga Review: Real Madrid Put Pressure On Top Two With Malaga Win As Atletico Thrash Levante To Trim Barcelona LeadApril 16, 2018In “Europe”La Liga Watch: Girona Stun Espanyol In Catalan Derby To Secure Top 10 SpotDecember 12, 2017In “Europe”last_img read more

Vardy Defends Former Club Teammate Over England Snub

first_imgThree Lions of England striker Jamie Vardy has defended his former club teammate at Leicester City, Danny Drinkwater, after he turned down a call up to the national team ahead of games against Germany and Brazil.Speaking ahead of England’s game with Brazil, Vardy stated that Drinkwater has been battling with match fitness. In his words, Vardy said:“He has been struggling to get a bit of match-time.”“He was injured and he needs to get the match sharpness back. He has been doing that in recent weeks for Chelsea and he needs to keep building that up.“He definitely wants to play for his country.” he concluded.Danny Drinkwater has had a slow start to life at Chelsea following his £35m move from Leicester City in the summer and that has culminated in just 22 minutes of English Premier League (EPL) football for the league champions.RelatedShock! Chelsea Star Snubbed England Call-Up – ManagerNovember 9, 2017In “England”Danny Drinkwater Hands Transfer Request To Leicester City Amidst Chelsea InterestAugust 30, 2017In “England”Daley BlindJune 30, 2017Similar postlast_img read more

Google lifts gambling/betting app ban on UK Android systems

first_img StumbleUpon Global Tech giant Google is reported to be changing its ‘Google Play’ merchant policy allowing for gambling/betting apps to be introduced into its Android mobile systems’ store.The decision to change policy will allow gambling-related apps to be downloaded in the UK and other licensed European markets through the Google Play store for the first time in seven years.To date, Google has restricted gambling mobile app downloads, with users having to individually install applications without the aid of Google Play functionalities.The company implemented the restrictions due to legal concerns that its Android systems could not fulfil appropriate age verifications for gambling/betting app downloads.Google is reported to have sent an email to betting related companies, confirming its decision to suspend the policy. Google Play has asked for betting operators to resubmit applications for apps to be listed, as well as individual country licenses.Google UK expects its merchant policy on gambling apps to be lifted by August 2017. At present Android systems hold a reported 50% of UK market share with regards to handheld devices. Kenneth Alexander: Industry’s regulatory future is in-play as live sport resumes June 15, 2020 HBLB ups prize money commitment by 50% July 31, 2020 Share Related Articles Share Submit XLMedia feels strain of Google deranking July 23, 2020last_img read more

BetRegal diary – Defining our go to market strategy

first_imgShare StumbleUpon Share Former Pinnacle Marketing Director Aly Lalani is one of the drivers behind the launch of BetRegal.com, a new European facing sportsbetting and gaming brand created to provide its customers with the “best possible value” in prices. After creating the brand, Lalani is back to share his experiences about the challenges of bringing a new brand to the market.Having worked out ‘the initial ideas of what the brand will look like to the customer, and having a very general idea of where we were going to find our customer, the discussion naturally evolved to us trying to define a go to market strategy for BetRegal.We have options here, right? My partners and I have all had lots of experience working with and for some of the largest sportsbooks in the industry, and we have access to infrastructure that would make it a viable option to build our product internally. I mean, building it specifically to our own spec has to be the best option right? That way we get exactly what we want. The downside? It takes time. We’re talking about a pretty complicated risk management platform, along with a brand new front end, ability to integrate payment providers, customer service infrastructure, fraud infrastructure, and a whole bunch of other elements that a non-technical person like myself wouldn’t understand. Not to mention the ever changing world of compliance.Back to the bar.In all seriousness, this requires a serious strategic discussion. Are we willing to wait X months (or years) to build our own platform? What are our other options? What are the cost and resource implications? Through lots of discussion, and with varied levels of disagreement, the decision was made as a group that our strategy would be to try to get to market as quickly as possible with a quality product, and begin building the brand in our key markets. Of course that means we will have to sacrifice a little in terms of ultimate desired functionality, but the plan all along was to continually evolve the website based on market desires and influences. Remember, we defined our mandate as being for the customer…it makes sense that we use their input to improve our customer experience.Anyone who has been to any of the conferences over the past couple of years has seen the increase in software providers. Now some of the biggest stands and the biggest brands are software providers, who make it especially easy for new brands to get off the ground by providing a lot of the required infrastructure.   We set initial meetings with all of the larger software providers, and some of the smaller ones, at ICE in February of last year. Anyone that has visited this particular exhibition will understand the jostling for position and near frenzied desire to attract new business at the ExCeL. With a keen eye on our intended differentiator of having the ability to manage our odds pricing to a very granular level, we reviewed most, if not all of the software providers.After much deliberation, we decided in the end to use the EveryMatrix platform. After 13 years in the iGaming space, I was in a better position than most to cut through the noise. I was already aware of the sportsbook solution offered by EveryMatrix, and some of the companies they had helped to bring quickly and effectively to market, but I was immediately taken by the platform’s granular margin management.Now admittedly, no one platform was ideal for our needs. All required some sort of compromise. That was the sacrifice we made with the decision to get to market quickly. Fortunately, our most important BetRegal brand feature is still fully under our control. We are going to treat these customers like royalty. I feel confident in saying we will have significantly more customer service staff than other operators at the same stage in their life cycle.EveryMatrix seemed to offer the type of product we needed to aggressively manage our pricing model, along with all the other operational requirements to get to market relatively quickly. It looks like EveryMatrix is the right provider for us.At the end of the day, the software is only a tool, choosing one over the other doesn’t guarantee success. It just positions us to better control our intended differentiator. We need to develop a quality, engaging product and get some players in the front door. The only way we can ever be competitive in terms of our pricing is with liquidity. The more liquidity we get, the more we can move towards our goal of offering the ‘best value for the customer’.It’s exciting to know that we have a backend supplier chosen for BetRegal.com.Let’s design our product and figure out how to get some players! Danske Spil calls for esports makeover with Pinnacle Solution August 25, 2020 Related Articles MoneyMatrix boosts wire transfer options by integrating Klarna’s Sofort August 24, 2020 Submit Björn Nilsson: How Triggy is delivering digestible data through pre-set triggers August 28, 2020last_img read more

Jason Trost – Smarkets gearing up for sportsbook rollout

first_img Submit StumbleUpon Bookies Corner: Trump Presidency sinks as US 2020 enters its 100 day countdown July 29, 2020 Share Related Articles Bakhshi and Shaddick launch ‘Art of the Possible’ podcast tracking US 2020 developments August 10, 2020 Jason Trost the CEO & Founder of online betting exchange Smarkets, has revealed that his firm will move to launch a traditional sportsbook platform supporting its existing operations.Speaking to Bloomberg Business, Trost detailed that Smarkets had spent circa $5 million developing its sportsbook extension which will attached to the Smarkets exchange.Focusing on the in-house development of its proprietary technology platform, Trost has established Smarkets as one of the fastest growing UK tech enterprises, listing within the top 10 of ‘The Sunday Times Tech Track100’ and ‘Deloitte Fast50’.Smarkets will seek to deliver a sportsbook product, with best market prices generated by its existing online betting exchange.“There’s a huge opportunity in terms of people wanting the best prices, but not wanting to go to the exchanges,” Trost detailed to Bloomberg.Further to Smarkets upcoming sportsbook roll-out, Trost details that he is keeping a close eye on US movements, should betting be legalised by the US Supreme Court.Trost believes that the US market could be worth between $10 to $20 billion should it to be fully liberalized, allowing Smarkets to expand internationally.However, for the time being Trost is fully focused on growing Smarkets within the saturated UK betting market, which faces significant regulatory change and FIFA World Cup this 2018. Smarkets gains green light to enter Swedish market July 28, 2020 Sharelast_img read more

Peter Jackson – ‘Paddy Power will return to growth’

first_img StumbleUpon Share FSB selects Glenn Elliott as new COO August 12, 2020 ‘Deal maker’ Rafi Ashkenazi ends Flutter tenure  August 27, 2020 Share Flutter moves to refine merger benefits against 2020 trading realities August 27, 2020 Peter Jackson – Paddy Power BetfairPresenting his first trading updating as Paddy Power Betfair (PPB) Group Chief Executive Peter Jackson has prioritised ‘returning growth to Paddy Power operations’.Updating investors on a successful full-year 2017 performance, in which PPB outperformed its market expectations, Jackson sets a high bar for PPB executives in 2018.Jackson praised PPB development teams for delivering the group’s combined platform system this January, which PPB governance details as the ‘final piece of the merger integration’.“The platform technology will give us scale, and help tackle the demands of being an effective multi-territory operator”, Jackson stated.Whilst PPB continues to progress on its international ambitions, within the Australian (Sportsbet.com.au) and US markets (Betfair US), Jackson outlines European priorities, primarily focusing on returning growth to Paddy Power.“For the group to achieve its long-term targets, it’s imperative that Paddy Power returns to growth. It has faced a number of headwinds in the last couple of years, but remains a great brand that can dominate mass markets”.Jackson presents a breakdown of PPB’s ‘online revenues by brand & product type for 2017’, in which Betfair’s sportsbook has generated double-digit growth against Paddy Power’s stagnated performance.Taking on the challenge of revitalising Paddy Power, Jackson outlines four main action points for PPB executives to undertake;Rethinking of Paddy Power’s brand values and ambitions within a crowded European marketplace.Improving the overall Paddy Power product proposition, which has lagged behind Betfair standards following the merger. Jackson states that this will be significantly helped by the group platform.Revamping Paddy Power’s customer loyalty program. Jackson details that PPB will make a significant investment in retention and customer rewards for recreational players.Significantly increasing Paddy Power’s marketing coverage, which Jackson believes has been below the level needed to operate as a mass market brand.“The most present and clear European market opportunity is in returning the Paddy Power brand back to growth. The brand is a key asset to the group. In a crowded marketplace, it has a distinct personality, there are few other brands I would choose to target saturated marketplaces. Paddy Power must return to being a mass market leader.”Outlining PPB’s objectives, Jackson has appointed Dan Taylor, Chief Executive of PPB Europe as the man to lead Paddy Power’s recovery. Submit Related Articleslast_img read more