The Black Horseman With A Set Of Economic Balances or Scales
Revelation 6:5 And when he had opened the third (3) seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand.
Commentary; balances are symbolic for economic transactions and ‘prices’ for things such as wheat and barley grain, bread, olive oil, wine, various food commodities. These are common throughout the world and are considered by most as the ‘staples of life or living.’
6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.
Commentary; The world will have reached a point of ‘climate apartheid’ where only the wealthy can afford basic food resources in the face of fatal droughts, famine, locust swarms and heatwaves, while the rest of the world suffers. Only the extreme rich can afford expensive cooking oil, baked pastries and loaves of multi-grain breads, fancy wines and related luxurious food stuffs. Yet, the ‘average peasant’ has to work for an entire day’s wages just to be able to buy enough wheat to make a loaf of bread. Great and severe income inequality is rampant worldwide. The ‘few’ own a massive disproportion of the earth’s wealth and bounty. Billionaires vs billions of poor. The ‘Crown Prince’ owns 60,000 (6) tonnes of wheat in his store houses or graineries while the few grain silos in the Port of Lebanon were destroyed and its people are threatened with expensive grain shortages that require humanitarian assistance.
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The Black Horseman and ‘The Black Scales of Commerce’; The developing countries facing a debt crisis.
Reuters Wed, April 5, 2023 at 9:16 AM CDT
LONDON (Reuters) – The record number of developing nations at risk of a debt crisis will be high on the agenda next week when central bankers, finance ministers and political leaders convene for the World Bank Group and International Monetary Fund (IMF) spring meetings.
Ballooning inflation, escalating borrowing costs and a strong dollar have made repaying loans and raising money significantly more expensive for dozens of developing nations, pushing several into default last year.
Below is a look at countries that face a debt crunch or have already defaulted on international loans.
Egypt’s tourism-dependent economy was hammered by the one-two punch of COVID-19 and soaring food and energy prices, leaving it short of dollars and struggling to pay rising debts.
Cairo secured a new $3 billion IMF package in December by committing to a flexible currency, a greater role for the private sector and a range of monetary and fiscal reforms.
Import and currency restrictions have weighed on economic activity, and a foreign currency shortage continues despite three sizable devaluations since March 2022 that halved the value of the pound. Inflation stands now at a more than five-year high above 30%.
El Salvador cleared a $600 million bond payment hurdle in January. The Central American country has roughly $6.4 billion in outstanding Eurobonds. While the next payment is not due until 2025, concerns about El Salvador’s high debt service costs and its financing plans and fiscal policies have pressed its bonds into deeply distressed territory.
The country’s move to make bitcoin legal tender in September 2021 effectively closed the doors to IMF financing. However, the risks over El Salvador’s embrace of bitcoin “have not materialized”, the IMF acknowledged.
Ghana is in its worst economic crisis in a generation, spending over 40% of government revenues on debt payments last year. In January, it became the fourth country to seek a rework under the Common Framework.
The West African country secured a $3 billion agreement with the IMF in December, though it still needs to get financing assurances from bilateral lenders to clinch the final sign-off. The cocoa, gold and oil producer has already reached a deal to write down domestic debt and last week kicked off formal debt talks with international bondholders.
Lebanon’s financial system began unravelling in 2019 after decades of mismanagement and corruption, and in early 2020 it defaulted. Lebanon has had neither a head of state nor a fully empowered cabinet since Oct. 31.
It reached a provisional $3 billion IMF agreement in April 2022, but the fund recently warned Lebanon was “in a very dangerous situation” due to delays on a range of reforms, including banking and exchange rate overhauls. Beirut devalued the official exchange rate for the first time in 25 years in February. Last month its central bank said it would begin selling unlimited amounts of U.S. dollars to halt spiralling devaluation.
Malawi is grappling with foreign exchange shortages and a budget deficit of some 1.32 trillion kwacha ($1.30 billion), or 8.7% of GDP.
The donor-dependent southern African nation is trying to restructure its debt in order to secure more funding from the IMF, which approved emergency funds in November.
Months of political and economic turmoil, worsened by crippling floods last year and record inflation, put Pakistan in the danger zone.
China agreed to refinance $1.8 billion already credited to Pakistan’s central bank, and last month rolled over a $2 billion loan that had matured earlier in March, providing relief during Pakistan’s acute balance of payments crisis.
But talks with the IMF for a delayed $1.1 billion loan tranche, part of $6.5 billion bailout agreed in 2019, have dragged on and foreign exchange reserves have fallen to less than four weeks of imports.
The tourism-dependant North African economy is in the throes of a punishing crisis that led to a shortage of basic food items.
A $1.9 billion IMF loan has been stalled for months as Tunisia’s president has shown little sign of action on key reforms. Most debt is internal but foreign loan repayments are due later this year. Credit ratings agencies have said Tunisia may default.
Sri Lanka defaulted on its international debt last year after economic mismanagement, exacerbated by the COVID-19 pandemic, sparked a political crisis and left it without dollars for even essential imports.
The IMF signing a $3 billion bailout package last month could help the South Asian island country secure additional support of nearly $4 billion from the World Bank, Asian Development Bank and other lenders.
Government officials aim to complete debt restructuring talks by September. Sri Lanka is also reworking part of its domestic debt and aims to finalise it by May.
Ukraine just received the first $2.7 billion tranche under a four-year, $15.6 billion IMF loan program. This is part of a bigger $115 billion global package of support.
The country suspended all debt payments last year in the wake of Russia’s invasion, and will need to restructure its borrowings if and when the situation stabilises.
The IMF estimates Ukraine needs $3-$4 billion a month to keep the country running. Rebuilding Ukraine’s economy is now expected to cost $411 billion, a recent report by the World Bank and others found.
The first African country to default during the COVID-19 era in 2020, Zambia is seen as a litmus test for the G20’s Common Framework initiative set up during the pandemic to streamline debt restructurings. But talks have been remarkably slow, and external debt crept up to $18.6 billion.
Western officials have blamed China, its largest bilateral lender, for the hold-up, something that China disputes. There have been broad disagreements about how much debt the country can afford going forward.
Zambia’s currency, the kwacha, has fallen more than 10% against the U.S. dollar this year, which the central bank has said is adding to inflation. It blamed the drop partly on debt restructuring delays.
GRAPHIC: The poorest nations at highest debt risk https://www.reuters.com/graphics/IMF-WORLDBANK/EMERGING/lgvdkxwnopo/chart.png
(Reporting by Marc Jones, Rachel Savage, Karin Strohecker and Libby George, editing by Mark Heinrich)
But how can they call on him (Jesus Christ) to save them unless they believe in him (Jesus Christ)? And how can they believe in him (Jesus Christ) if they have never heard about him (Jesus Christ)? And how can they hear about him (Jesus Christ) unless someone tells them?” —Romans 10:14
In His Service,
Night Watchman Ministries
Make Your Decision for Christ NOW!!!!!!! Time is Up!!!!!!!
Jesus Christ’s Offer of Salvation:
The ABCs of Salvation through Jesus Christ (the Lamb)
A. Admit/Acknowledge/Accept that you are sinner. Ask God’s forgiveness and repent of your sins.
. . . “For all have sinned, and come short of the glory of God.” (Romans 3:23).
. . . “As it is written, There is none righteous, no, not one.” (Romans 3:10).
. . . “If we say that we have no sin, we deceive ourselves, and the truth is not in us.” (1 John 1:8).
B. Believe Jesus is Lord. Believe that Jesus Christ is who He claimed to be; that He was both fully God and fully man and that we are saved through His death, burial, and resurrection. Put your trust in Him as your only hope of salvation. Become a son or daughter of God by receiving Christ.
. . . “That whosoever believeth in him should not perish, but have eternal life. For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. For God sent not his son into the world to condemn the world; but that the world through him might be saved. (John 3:15-17). For whosoever shall call upon the name of the Lord shall be saved.” (Romans 10:13).
C. Call upon His name, Confess with your heart and with your lips that Jesus is your Lord and Savior.
. . . “That if thou shalt confess with thy mouth the Lord Jesus, and shalt believe in thine heart that God hath raised him from the dead, thou shalt be saved. For with the heart man believeth unto righteousness; and with the mouth confession is made unto salvation.” (Romans 10:9-10).
. . . “If we say that we have no sin, we deceive ourselves, and the truth is not in us. If we confess our sins, he is faithful and just to forgive us our sins, and to cleanse us from all unrighteousness. If we say that we have not sinned, we make him a liar, and his word is not in us.” (John 1:8-10).
. . . “And he is the propitiation for our sins: and not for ours only, but also for the sins of the whole world. (John 2:2).
. . . “In this was manifested the love of god toward us, because that God sent his only begotten Son into the world, that we might live through him. And we have seen and do testify that the Father sent the Son to be the Saviour of the world. Whosoever shall confess that Jesus is the Son of God, God dwelleth in him, and he in God.” (1 John 4:9, 14-15).
. . . “But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us. Much more then, being now justified by his blood, we shall be saved from wrath through him. For if, when we were enemies, we were reconciled to God by the death of his Son, much more, being reconciled, we shall be saved by his life.” (Romans 5:8-10).
. . . “For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord.” (Romans 6:23).
. . . “Jesus saith unto them, I am the way, the truth, and the life, no man cometh unto the Father, but by me.” (John 14:6).
. . . “For I am not ashamed of the gospel of Christ: for it is the power of God unto salvation to everyone that believeth.” (Romans 1:16).
. . . “Neither is there salvation in any other: for there is none other name under heaven given among men, whereby we must be saved.” (Acts: 4:12).
. . . “Who will have all men to be saved, and to come unto the knowledge of the truth for there is one God, and one mediator between God and men, the man Christ Jesus.” (1 Timothy 2:4-6).
. . . “For God did not appoint us to suffer wrath but to receive salvation through our Lord Jesus Christ.” (1 Thessalonians 5:9).
. . . “But as many as received him, to them gave the power to become the sons of God, even to them that believe on his name.” (John 1:12).
True Church / Bride of Christ Spared from God’s Wrath:
Romans 5:8-10. “But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us. Much more then, being now justified by his blood, we shall be saved from wrath through him. For if, when we were enemies, we were reconciled to God by the death of his Son, much more, being reconciled, we shall be saved by his life.”
Romans 12:19. Dearly beloved, avenge not yourselves, but rather give place unto wrath: for it is written, Vengeance is mine; I will repay, saith the Lord.
1 Thessalonians 1:10. And to wait for his Son from heaven, whom he raised from the dead, even Jesus, which delivered us from the wrath to come.
1 Thessalonians 5:9. For God hath not appointed us to wrath, but to obtain salvation by our Lord Jesus Christ,
Romans 8:35. Who shall separate us from the love of Christ? shall tribulation, or distress, or persecution, or famine, or nakedness, or peril, or sword?
Jeremiah 30:7. Alas! for that day is great, so that none is like it: it is even the time of Jacob’s trouble, but he shall be saved out of it.
Revelation 3:10 Because thou hast kept the word of my patience, I also will keep thee from the hour of temptation, which shall come upon all the world, to try them that dwell upon the earth.
Categories: Economic Collapse