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'IAEA resolution unaacpetable'
The IAEA’s Board of Governors has reportedly passed a Western-sponsored resolution calling on Iran to fully cooperate with the UN nuclear agency. The motion was brought by the United States, Britain, France and Germany. Diplomats say China and Russia voted against it. The resolution is associated with an IAEA probe into what it terms the presence of 'uranium traces' at three undeclared sites in Iran. The resolution is the second this year targeting Iran. Earlier, Tehran censured the resolution as unacceptable and politically-motivated. Iran warned of a firm response if the resolution was approved. The Islamic Republic said the approval of such a resolution undermines efforts to settle issues between Iran and the UN nuclear agency.
Britain austerity budget
Britain has unveiled an austerity budget of 65 billion dollars’ worth of tax hikes and spending cuts to reign in soaring prices and inflation. Some measures include a windfall tax increase for oil and gas firms and an extension to a freeze on the income tax threshold. Britain is embroiled in a cost-of-living crisis where the public has to pay higher taxes and reduce spending. The British finance minister says the austerity measures are required to bring financial stability as the country goes through recession. The Central Bank of England blames the Brexit for the UK’s economic woes. The government, however, insists the war in Ukraine and the COVID pandemic are the main culprits in the economic downturn. The annual inflation in Britain now stands at its highest level in over 40 years.
Lebanon crisis
Lebanon’s parliament fails to choose a new president for the sixth time, raising fears that the current economic crisis may worsen. In a vote held on Thursday, presidential candidates fell short of acquiring the minimum 86 ballots needed to be elected. That is after nearly half of the lawmakers left their votes blank. A member of parliament said given the current deadlock, it is impossible to have a new president before 2023. A power vacuum could deepen the political crisis in Lebanon, which is already governed by a caretaker cabinet. The country is grappling with various economic and financial issues. Former President Michel Aoun, whose term ended last month, also took power in 2016 after a two-year vacancy at the presidential palace.
Tehran economic conference: Raeisi hails Iran-Africa expansion of ties
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