Press release
In an open letter to United Nations Secretary-General Ban Ki-moon published on their new website today, the second International Day of Democracy, UK-based non-governmental organisation the Foundation for Democracy and Sustainable Development (FDSD) warn that unless governments step up immediate efforts to tackle climate change, the result could be significant incursions into future democratic freedoms.
As the UN and supporting organisations around the world celebrate democracy today, they know that there are some formidable environmental and natural resource challenges just around the corner—and that climate change is the biggest of them all.
FDSD Director Halina Ward says:
“There is a real risk that as the decision-making implications of huge social challenges like climate change begin to bite, politicians will be tempted to tighten the reins on our democratic rights and limit our access to public decision-making on difficult issues”.
“We need politicians to take really tough steps to tackle issues like climate change, but they have to find ways of doing so with public buy-in, support and active involvement. And the longer they wait to take decisive action, the more likely it is that our democratic freedoms could suffer as the cost of preventing the worst outcomes of climate change increases”.
“We are calling on the UN to encourage its members to reflect deeply on how they can make democracy work to deliver effective actions on climate change. It’s no longer just a question of policy measures and institutions – democracy itself will have to adapt.”
Foundation for Democracy and Sustainable Development Chair John Elkington adds:
“Climate change is coming at our societies at an underestimated and accelerating rate—outpacing the capacity of democratic systems to respond. If democracies are to retain a commitment to inclusive decision-making, they must innovate fast.”
“The key question, as in times of war, is how to take the necessary decisions when they so often cut across the short-term interests of industries and citizens. That is where leadership—and vision—come in. And the challenge is made harder by the fact that the centre of gravity of the global economy is shifting towards Asia , where greenhouse emissions are rising fastest—and where the institutions of democracy are often weakest.”
Tuesday 15 September 2009
Dalasi & Butut: Dalasi Stays Flat Against Greenback
The Dalasi continues to exhibit a mixed performance against its major trade currencies on both the interbank and parallel markets. On the interbank market this week, the local currency was unchanged at D26.65 against the dollar but was down by 50 bututs against the Pound and was quoted at D43.60.
Against the Euro, the Dalasi depreciated by 5 bututs to close at D38 and was fixed at D282.50 against the CFA Francs. On the parallel market, the Dalasi was stable at D26.88 and depreciated by 37 bututs against the Pound to close the week at D43.50.
The local currency was also stable against the Euro at D38 and posted a D2.50 depreciation against the CFA Francs to close the week at D276.50.
Trading on the international currency market saw the US Dollar lose value against
the Euro and the Pound while strengthening against the Japanese Yen. The greenback was down by 0.05 per cent against the Pound to close at $1.67 and depreciated by 0.03 per cent against the Euro to close the week at $1.46. The US Dollar exchanged hands with the Yen at $91.03 following a gain of 2.71 per cent.
Dalasi Interbank Mid Exchange Rates
Dollar 26.65
Pound 43.60
Euro 38.00
CFA 282.50
Parallel Mid Exchange Rates
Dollar 26.88
Euro 43.50
Euro 38.00
CFA 276.50
Currency Market Updates
Bills Improve: Trading on the floor of the money market of the Central Bank of the Gambia saw improvements in traded instruments except for the 91-Day Sukuk Al-Salam Bill which was fixed at its previous rate of 10.71 per cent.
The 91-Day Bill was up by 7 basis points and was quoted at 10.14 per cent following an undersubscription of 21.52 per cent. The 182-Day Bill also gained 40 basis points from its previously quoted rate 11.40 per cent to close this week at 11.45 per cent. Towards the longer arm of the market, the 1-Year Note climbed up by 83 basis points from 13.23 per cent and was quoted at 14.06 per cent following the end of this week’s auction.
Against the Euro, the Dalasi depreciated by 5 bututs to close at D38 and was fixed at D282.50 against the CFA Francs. On the parallel market, the Dalasi was stable at D26.88 and depreciated by 37 bututs against the Pound to close the week at D43.50.
The local currency was also stable against the Euro at D38 and posted a D2.50 depreciation against the CFA Francs to close the week at D276.50.
Trading on the international currency market saw the US Dollar lose value against
the Euro and the Pound while strengthening against the Japanese Yen. The greenback was down by 0.05 per cent against the Pound to close at $1.67 and depreciated by 0.03 per cent against the Euro to close the week at $1.46. The US Dollar exchanged hands with the Yen at $91.03 following a gain of 2.71 per cent.
Dalasi Interbank Mid Exchange Rates
Dollar 26.65
Pound 43.60
Euro 38.00
CFA 282.50
Parallel Mid Exchange Rates
Dollar 26.88
Euro 43.50
Euro 38.00
CFA 276.50
Currency Market Updates
Bills Improve: Trading on the floor of the money market of the Central Bank of the Gambia saw improvements in traded instruments except for the 91-Day Sukuk Al-Salam Bill which was fixed at its previous rate of 10.71 per cent.
The 91-Day Bill was up by 7 basis points and was quoted at 10.14 per cent following an undersubscription of 21.52 per cent. The 182-Day Bill also gained 40 basis points from its previously quoted rate 11.40 per cent to close this week at 11.45 per cent. Towards the longer arm of the market, the 1-Year Note climbed up by 83 basis points from 13.23 per cent and was quoted at 14.06 per cent following the end of this week’s auction.
Subscribe to:
Posts (Atom)