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Kamis, 29 Februari 2024

‘Using a potato as a silencer’: Middle school principal admits to hiring hit man to kill teacher who was pregnant with his child - Law & Crime

Cornelius M. Green (St. Louis City Justice Center) Jocelyn Peters (KSDK screnshot)

Cornelius M. Green (St. Louis City Justice Center) Jocelyn Peters (KSDK screenshot)

A former middle school principal in Missouri will likely spend the rest of his life in a federal correctional facility after admitting to having a pregnant teacher on his staff and her unborn child killed, even paying the hit man to do the deed with funds stolen from the school where he and the victim worked.

Cornelius M. Green, the onetime principal of Carr Lane Visual and Performing Arts Middle School, pleaded guilty on Wednesday to one count of murder-for-hire and one count of conspiracy to commit murder-for-hire in the 2016 slaying of 30-year-old Jocelyn Peters, who was seven months pregnant at the time, court records show. In the plea agreement, prosecutors recommended that Green be sentenced to life in prison.

His co-defendant in the case, longtime friend Phillip Cutler, is accused of gunning down the expecting teacher for $2,500. He has pleaded not guilty to the same two charges and is currently scheduled to begin his trial next month.

Phillip Cutler (St. Louis City Justice Center)

Phillip Cutler (St. Louis City Justice Center)

Prosecutors said that Green in 2015 was married to another woman when he became involved in an “ongoing romantic relationship” with Peters, who eventually became pregnant with Green’s child. Green and Cutler are said to have begun planning Peters’ murder sometime in early 2016.

According to the criminal indictment, Green on Feb. 29, 2016, sent Cutler a text message asking him to come from Oklahoma to Missouri at the end of March. Cutler responded, “Ok, that will work, u gonna b sending the pacge (sic).”

Green on March 7, 2016, sent a UPS package containing $2,500 in cash to Cutler. Records further state that Green used the address of the middle school as the return address for the package containing the cash, which Green had taken from the school.

“It was further part of the conspiracy that on or about March 8, 2016, in Oklahoma, Cutler received the package sent by Green, accepting the cash in exchange for his planned killing of Peters and her unborn child,” the indictment states.

Cutler on March 21 came to St. Louis and began staying at the residence where Green lived with his sister, authorities said. The following day, Green took an Amtrak to Chicago and left Cutler with his car and the keys to Peters’ apartment. Prosecutors said Green only traveled to Chicago to establish an alibi for the murder of Peters and their unborn child.

Two days later, on March 24, Cutler drove Green’s car to Peters’ apartment in the 4200 block of West Pine Boulevard in St. Louis. He used the keys provided by Green to unlawfully enter her home, found her in bed, and “shot her with a .38 caliber firearm in the head, using a potato as a silencer to muffle the sound of the shot,” prosecutors said.

Green then purchased an Amtrak ticket back to St. Louis “so there would be verification that he was in Chicago at the time of the murder.”

Green is currently scheduled to appear before U.S. District Court Judge Ronnie L. White of the Eastern District of Missouri on the morning of June 5 for his sentencing hearing.

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Former Missouri school principal admits hiring hitman to kill pregnant teacher - Fox News

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A former St. Louis middle school principal pleaded guilty to charges in federal court after admitting he hired his friend to kill his pregnant girlfriend in 2016. 

Federal prosecutors said Cornelius Green, formerly a principal at Carr Lane Visual and Performing Arts Middle School, paid Phillip Cutler $2,500 to murder 30-year-old teacher Jocelyn Peters. Cutler is scheduled to go to trial for his alleged role.

The money was stolen from a school fund for a field trip, KSDK reported, and mailed to Cutler via UPS using the school's address as a return address, according to a plea agreement reviewed by Fox News Digital.

Green pleaded guilty Wednesday to federal charges of murder-for-hire and conspiracy to commit murder-for-hire. If he is sentenced to life in prison, according to the plea agreement, state charges of two counts of first-degree murder and two counts of armed criminal action and one count of burglary will be dropped. 

ST. LOUIS MAN SENTENCED FOR CRASH KILLING 4 PEOPLE AND INJURING 4 OTHERS

Jocelyn Peters

Third grade teacher Jocelyn Peters was remembered as "someone who cared deeply about children," People reported. She was shot dead as she slept in the early hours of March 24, 2016. (Jocelyn Peters on Facebook)

The state charges carried the possibility of the death penalty. 

Peters was a third-grade teacher at nearby Mann Elementary School and, according to The Kansas City Star, was more than 27 weeks pregnant with Green's child. 

On February 29, 2016, about three weeks before Peters was shot dead in her Central West End apartment on March 24, 2016, Green sent a text message to Cutler asking him to come to St. Louis on the week of March 20.  

"Ok, that will work, u gonna b sending the pacge [sic]?" Cutler replied, according to the plea agreement. 

FLORIDA PAIR CHARGED WITH MURDER AFTER SEX-FOR-HIRE CAR THEFT PLOT WENT AWRY: DEPUTIES

Cornelius Green

Cornelius Green, formerly a principal at Carr Lane Visual and Performing Arts Middle School, stole money intended for a field trip to pay Phillip Cutler $2,500 dollars to kill his pregnant girlfriend, prosecutors say. (St. Louis City Justice Center)

Cutler arrived in St. Louis three days before Peters was killed, staying with Green and his sister, according to court documents. 

The next day, Green traveled to Chicago so he would have an alibi, prosecutors said. Cutler allegedly drove him to his train, and Green left him with keys to his car and Peters' apartment. 

In the early morning hours of March 24, Cutler fatally shot Peters with a .380-caliber gun while she slept and used a potato as a silencer, according to court documents.

TEEN KILLED IN 'CATFISH' MURDER-FOR-HIRE PLOT PLANNED BY 'WORST OFFENDER' SEEKING VIDEOS OF DEATH, CHILD PORN

Phillip Cutler

Phillip Cutler was Green's childhood friend, according to the St. Louis Post-Dispatch. Prosecutors say Green gave him keys to Peters' apartment, where he shot her with a .380-caliber gun. His trial on federal charges is slated to begin on March 11, KSDK reported.  (St. Louis City Justice Center)

The alleged hitman then called Green soon afterward to tell him Peters was dead – several hours later, at 6:40 a.m., the former principal bought an Amtrak ticket to return home, according to court documents.

When he got back to St. Louis, he feigned the discovery of Peters' body at her apartment and called police. 

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Legally, Green was married to another woman at the time of the killing and involved in several other romantic relationships, KSDK reported

Green's sentencing is scheduled for June 5 at 10 a.m., according to the outlet, and Cutler's trial on federal murder-for-hire and conspiracy to commit murder-for-hire charges is slated to begin on March 11. 

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Former Missouri school principal admits hiring hitman to kill pregnant teacher - Fox News
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Christian Horner: Red Bull team principal cleared of wrongdoing following probe into inappropriate behavior - CNN

CNN  — 

Red Bull team principal Christian Horner has been cleared of wrongdoing after an external investigation into allegations of inappropriate behavior, the Formula One team’s parent company, Red Bull GMBH, said in a statement on Wednesday.

The independent investigation was launched by Red Bull in February after Horner was accused of engaging in inappropriate behavior towards a member of the racing team, allegations the 50-year-old had denied.

“The independent investigation into the allegations made against Mr Horner is complete, and Red Bull can confirm that the grievance has been dismissed,” the statement read.

“The complainant has a right of appeal. Red Bull is confident that the investigation has been fair, rigorous and impartial.

“The investigation report is confidential and contains the private information of the parties and third parties who assisted in the investigation, and therefore we will not be commenting further out of respect for all concerned. Red Bull will continue striving to meet the highest workplace standards.”

Horner became Red Bull team principal in 2005, making him the youngest in Formula One.

Horner is one of the most successful team principals in F1 history.

He is regarded as one of the most successful team principals in F1 history after overseeing seven drivers’ championships. Last season, the team defended its constructor championship crown – the team’s sixth under Horner – with six races to spare.

The Formula One season gets underway in Bahrain on Saturday.

Red Bull again appears to be head and shoulders above its competition for the upcoming season after several scintillating test sessions in Bahrain, with the independent investigation evidently not hampering the team’s preparations.

This story has been updated with additional information.

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Christian Horner: Red Bull team principal cleared of wrongdoing following probe into inappropriate behavior - CNN
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Rabu, 28 Februari 2024

Red Bull team principal Christian Horner cleared of wrongdoing following probe into inappropriate behavior - CNN

CNN  — 

Red Bull team principal Christian Horner has been cleared of wrongdoing after an external investigation into allegations of inappropriate behavior, the Formula One team’s parent company, Red Bull GMBH, said in a statement on Wednesday.

The independent investigation was launched by Red Bull in February after Horner was accused of engaging in inappropriate behavior towards a member of the racing team, allegations the 50-year-old had denied.

“The independent investigation into the allegations made against Mr Horner is complete, and Red Bull can confirm that the grievance has been dismissed,” the statement read.

“The complainant has a right of appeal. Red Bull is confident that the investigation has been fair, rigorous and impartial.

“The investigation report is confidential and contains the private information of the parties and third parties who assisted in the investigation, and therefore we will not be commenting further out of respect for all concerned. Red Bull will continue striving to meet the highest workplace standards.”

Horner became Red Bull team principal in 2005, making him the youngest in Formula One.

Horner is one of the most successful team principals in F1 history.

He is regarded as one of the most successful team principals in F1 history after overseeing seven drivers’ championships. Last season, the team defended its constructor championship crown – the team’s sixth under Horner – with six races to spare.

The Formula One season gets underway in Bahrain on Saturday.

Red Bull again appears to be head and shoulders above its competition for the upcoming season after several scintillating test sessions in Bahrain, with the independent investigation evidently not hampering the team’s preparations.

This story has been updated with additional information.

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Red Bull team principal Christian Horner cleared of wrongdoing following probe into inappropriate behavior - CNN
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Christian Horner: Red Bull team principal to remain in role after investigation into alleged inappropriate behaviour - Sky Sports

Christian Horner will continue in his role as Red Bull team principal after allegations of inappropriate behaviour made against him were dismissed.

The 50-year-old was placed under investigation by the F1 team's Austrian parent company Red Bull GmbH after allegations were made against him by a female colleague.

Horner has denied the allegations throughout the process and was present at the reigning constructors' champions 2024 car launch and pre-season testing in Bahrain last week.

Red Bull GmbH released a statement confirming the conclusion of the investigation on Wednesday, less than 24 hours before the cars take to the track for the first time at the season-opening Bahrain Grand Prix.

"The independent investigation into the allegations made against Mr Horner is complete, and Red Bull can confirm that the grievance has been dismissed," the company said in a statement.

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Lewis Hamilton described the investigation into alleged inappropriate behaviour by Red Bull team principal Christian Horner as

"The complainant has a right of appeal. Red Bull is confident that the investigation has been fair, rigorous and impartial.

"The investigation report is confidential and contains the private information of the parties and third parties who assisted in the investigation, and therefore we will not be commenting further out of respect for all concerned. Red Bull will continue striving to meet the highest workplace standards."

Horner attended an interview on February 9 with the external specialist barrister carrying out the investigation, but no resolution on the matter was reached at that stage.

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Max Verstappen says Christian Horner's investigation doesn't affect him and he is instead focused on the performance of the car

Attending the team's car launch six days later at their Milton Keynes base, Horner addressed the media for the first time since the allegations became public, and reiterated his denial.

Horner has been in charge of Red Bull Racing since it formed in 2005 and has led the squad to seven drivers' titles and six constructors' triumphs in 19 seasons.

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Sky Sports F1's Martin Brundle, Damon Hill and Naomi Schiff react to Red Bull's statement

Decision finally comes on eve of 2024 F1 season

The discussion around the investigation had been dominating the agenda ahead of Saturday's opening 2024 race in Bahrain, with Formula 1 and some of Horner's counterparts having called for a swift resolution.

At Wednesday's drivers' press conference, before Red Bull GmbH's announcement, Lewis Hamilton became the latest key figure to have his say on the matter, describing the situation as "a really important moment" for F1.

"I think it's a difficult one to answer, naturally," seven-time world champion Hamilton said.

"We always have to do more to try and make the sport and the environment that people get to work in feel safe and inclusive and any allegations have to be taken very seriously.

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Mercedes team principal Toto Wolff says the ongoing investigation into his Red Bull counterpart Christian Horner over alleged inappropriate behaviour is 'an issue for all of Formula 1'

"Obviously we don't know everything that's gone on, but it does need to be resolved as it's hanging over the sport. It will be really interesting to see how it's dealt with moving forwards and the affect that it may or may not have on the sport moving forwards.

"I think it's a really important moment for the sport to make sure that we stand true to our values."

Alongside Hamilton in the press conference was Red Bull driver Max Verstappen, who insisted that the situation wasn't affecting his preparations for his title defence.

"It doesn't," Verstappen said when asked if the saga was impacting him. "I'm very focused on just the performance of the car and myself. Hopefully it will be resolved very soon."

Despite turning down the opportunity to give his backing to Horner remaining with the team, Verstappen said that the 50-year-old is "very important" to Red Bull's success.

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McLaren team principal Zak Brown gives his views on the current investigation surrounding Christian Horner and inappropriate behaviour at Red Bull

"I think he is very important otherwise he wouldn't be in that position for such a long time," Verstappen said.

"Let's say if your team boss disappears for whatever reason for one or two races, not much is going to happen because everyone is in their role and they know what they have to do in the short term.

"But it's all about people management over time. And then of course things will start to be different if one of the leaders starts to not be there anymore.

"But we are not thinking like that. Like I said before, we just trust the process that we are in as a team to see what the outcome will be and besides that, at the moment, everyone is just very focused on the performance here at the track and everyone is in a good mood and just excited to get going again."

Schiff: I believe Red Bull have done everything they can

Sky Sports F1's Naomi Schiff reacts to Horner being cleared by Red Bull's investigation:

"Red Bull is huge company. It's a corporate matter. An investigation has been handled, whether it be independent or not, you would think and assume they take this with the utmost seriousness and handle it completely fairly.

"It comes at the risk of going completely wrong if it's found out that it's not the case. So, I believe they have done everything they can.

"What they say in the statement is super important. There is a level of discretion that needs to be kept because it involves the private life of people, that doesn't need to be exposed to the world.

"So, we just hope that this is clear and it won't go any further unless it has to, but you don't want this looming over the sport and the credibility of these people."

Red Bull team principal Christian Horner was present at the first day of pre-season testing in Bahrain
Image: Horner was present at pre-season testing in Bahrain

Brundle: Red Bull have drawn firm line underneath the matter

Sky Sports F1's Martin Brundle reacts to Horner being cleared by Red Bull's investigation:

"Red Bull, the parent company, have drawn a very thick and firm line underneath the matter as far as they're concerned with that statement.

"It does say the complainant can take further action against this but they are clear. They have done a deep investigation and talked for hours, many pages of documents have been generated, so clearly there was something to talk about.

"Christian Horner has always strenuously denied all wrongdoing on this and they are literally like, 'case closed and complete'.

"I find this a very curious business. We knew no facts whatsoever about this story, lots of echoes, lots of rumours that swirl around.

"We can only go by that statement and it looks like a line drawn underneath it and let's see if anything else comes out of that from third parties."

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Christian Horner: Red Bull team principal to remain in role after investigation into alleged inappropriate behaviour - Sky Sports
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Christian Horner allegations: Red Bull team principal cleared of inappropriate behaviour - BBC.com

Oracle Red Bull Racing Team Principal Christian HornerGetty Images

Red Bull's team principal Christian Horner has been cleared following an internal investigation into his behaviour towards a female colleague.

Allegations of inappropriate and controlling behaviour had been made against the 50-year-old.

"Red Bull is confident that the investigation has been fair, rigorous and impartial," a spokesperson for the company said.

Horner, who has led Red Bull since 2005, denied the allegations.

He will remain in his role as team principal and chief executive of Red Bull F1.

The statement, which was issued by Red Bull's head office in Austria, added: "The complainant has a right of appeal."

Red Bull provided no details of the allegations or the investigation.

The statement said: "The investigation report is confidential and contains the private information of the parties and third parties who assisted in the investigation, and therefore we will not be commenting further out of respect for all concerned.

"Red Bull will continue striving to meet the highest workplace standards."

Details of the allegations emerged on 5 February.

The decision by Red Bull, which follows a meeting of the company's board of directors, comes after an eight-week investigation, which became public early this month.

Earlier on Wednesday, at the season-opening Bahrain Grand Prix, Lewis Hamilton said the investigation was a "really important moment to make sure we stand true to our values".

The seven-time world champion added: "We always have to do more to try to make the sport and the environment people work in feel safe and inclusive, and any allegations have to be taken very seriously.

"It will be really interesting to see how it is dealt with and the effect it may well have on the sport."

Last week, US car giant Ford, which will be Red Bull's engine partner in F1 from 2026, made clear their annoyance with the time the investigation was taking and Red Bull's lack of clarity.

Ford CEO Jim Farley wrote a letter to the team that was leaked to the Associated Press, in which he said he was "increasingly frustrated, however, by the lack of resolution or clear indication from you about when you anticipate a fair and just resolution of this matter.

"We are likewise frustrated by the lack of full transparency surrounding this matter with us, your corporate partners, and look forward to receiving a complete account of all findings."

Red Bull's three-time world champion Max Verstappen said in Bahrain he was "trusting the process of the investigation".

He was asked twice whether he had full faith in Horner as team principal and each time ducked the question.

How we got here

When the allegations first emerged on 5 February, Red Bull issued a statement saying it was taking the matter "extremely seriously" and starting an "independent investigation".

On the same day, Horner told Dutch newspaper De Telegraaf "I completely deny these claims".

He was then interviewed by a lawyer for several hours on 9 February but the hearing finished without resolution.

The allegations overshadowed the launch of Red Bull's new Formula 1 car on 15 February, when Horner again denied the allegations and told the BBC it was "a distraction" for his team.

He said he had the full backing of all Red Bull's owners. The company is owned 51% by Thailand's Yoovidhya family and 49% by the family of the late Dietrich Mateschitz in Austria.

During pre-season testing, Mercedes team principal Toto Wolff called for the investigation to be transparent and said it was "an issue for all of Formula 1".

F1, the sport's commercial rights holders, had urged Red Bull to clarify the matter "at the earliest opportunity after a fair and thorough process".

Governing body the FIA has said it will not comment until the investigation is complete, but added: "The FIA remains committed to upholding the highest standards of integrity, fairness and inclusivity within the sport."

Who is Horner?

Horner has been Red Bull team principal since they first started on the F1 grid in 2005 and has gone on to win seven drivers' championships and six constructors' championships with the team.

Having received an OBE in 2013, Briton Horner was appointed a CBE in the New Year's Honours list last year after overseeing Red Bull's record-breaking 2023 season in which the team won 21 of 22 races as Max Verstappen claimed his third world title.

Horner raced competitively as a youngster but retired aged 25 and set his sights on managing an F1 team.

He married Spice Girl Geri Halliwell in Bedfordshire in 2015.

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Christian Horner allegations: Red Bull team principal cleared of inappropriate behaviour - BBC.com
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Christian Horner cleared by Red Bull investigation and keeps team principal role - Planet F1

Christian Horner will retain his role as Red Bull Racing CEO and team principal after being cleared of an investigation into him by Red Bull.

50-year-old Horner was confirmed as the subject of an investigation at the start of February by parent company Red Bull GmbH after a complaint was reportedly made from a female employee regarding his behaviour, an allegation Horner has always denied.

After weeks of investigation, including a face-to-face interview with the team principal and CEO in London, Red Bull have decided Horner will remain in his role.

Christian Horner survives Red Bull investigation

Horner was first put in the spotlight on February 5 when Dutch outlet De Telegraaf reported he was being investigated by Red Bull Gmbh following allegations of inappropriate behaviour made in his role as team principal.

An external lawyer was hired by Red Bull and met with the team boss at an undisclosed London location on February 9 where he was grilled for a reported nine hours.

But despite the investigation, Horner continued to serve in his team principal role and was present at both the car launch of the RB20 in Milton Keynes and pre-season testing in Bahrain. The Englishman is also scheduled to be with the team for the opening race this weekend.

Red Bull have however now deemed that Horner did not act inappropriately and closed the investigation into him.

Red Bull GmbH said: “The independent investigation into the allegations made against Mr Horner is complete, and Red Bull can confirm that the grievance has been dismissed.

“The complainant has a right of appeal. Red Bull is confident that the investigation has been fair, rigorous and impartial. The investigation report is confidential and contains the private information of the parties and third parties who assisted in the investigation, and therefore we will not be commenting further out of respect for all concerned. Red Bull will continue striving to meet the highest workplace standards.”

Horner is the first and to-date only team principal of Red Bull having been chosen to lead the project in 2005. Under his leadership, Red Bull won seven Drivers’ Championships and six Constructors’ crowns and are favourites to retain both in the 2024 season.

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Toto Wolff calls out equality ‘issue for all of F1’ in midst of Christian Horner investigation

Christian Horner investigation: Pressure rises on Red Bull as Ford demand resolution – report

Horner started his career as a driver but quickly moved into the management side of things. He set up his own Formula 3000 team Arden where he first came across Helmut Marko who sold him a trailer.

In 2005 and after Red Bull bought the Jaguar F1 team, they approached Horner to run the organisation, a position he duly accepted and one which made him youngest team principal at the time.

A key figure in attracting Adrian Newey to the team, Red Bull won their first title in 2010 with Sebastian Vettel with the German securing four championships in a row.

Falling behind Mercedes at the start of the new engine regulations in 2014, Red Bull and Horner were made to wait seven years for their next title – won by Max Verstappen in dramatic circumstances at the 2021 Abu Dhabi Grand Prix.

But come the 2022 regulation changes, Red Bull emerged as the dominant force, winning both titles in the first season before clinching victory at all but one of the races in 2023 and making it one of the most dominant seasons in F1 history.

Red Bull are expected to be frontrunners again for the title this season with the team looking to bring their seventh Constructors’ crown back to their Milton Keynes base.

Read next: Are there too many cooks in the Red Bull kitchen?

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Christian Horner cleared by Red Bull investigation and keeps team principal role - Planet F1
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Selasa, 27 Februari 2024

Zimbabwe's external creditors slammed for 55% interest on principal debt | - New Zimbabwe.com

By Alois  Vinga


A huge chunk of the country’s external debt has been worsened by exorbitant Principal Arrears (PRA) and Interest Rates (IRA) which in turn subdues the country’s repayment efforts, Zimbabwe Coalition on Debt and Development (ZIMCODD) has bemoaned.

The 2023 analysis of the Public Debt Report published by the ZIMCODD this week says the granular analysis of the public debt report shows that the primary drivers of public debt in Zimbabwe are arrears and penalties on existing debts.

“Of the US$12.7 billion total external PPG debt, principal arrears (PRA), interest arrears (IRA), and penalties (PEN) alone constitute 54.9% (US$6.98 billion). From another angle, of the combined bilateral and multilateral debt amounting to US$9.1 billion, about 76% (US$7 billion) are PRA, IRA, and PEN.

“The penalty interest rate charged by creditors is exorbitant; for instance, the highest penalty rate for bilateral creditors is 12.2%, while the highest penalty rate for multilateral creditors is 10.5%,” the analysis reads in part.

The report also establishes that the debt default of the early 2000s, coupled with a shrinking economy, has attracted prohibitive penalties and subdued the capacity to service debts, thus trapping Zimbabwe in a debt overhang position.

“Also, due to these high debt arrears, access to concessionary loan finance has been blocked. As such, predatory creditors are taking advantage of Zimbabwe’s debt crisis by fueling debt expansion – mortgaging natural resources and mineral revenues.

In addition, the public debt report also shows that debt stock is driven by government debt guarantees, particularly in agriculture. For example, as of the end of September 2023, non-performing guarantees (NPGs) totalled US$198.01 million and ZWL3.1 trillion.

About 98.4% of these NPGs supported farmers, with some loans having recovery rates as low as 20%.

“The fact that taxpayers end up assuming NPGs they have never benefited from, as most beneficiaries are the ruling class and their connected few, has created a moral hazard, leading to more debt accumulation,” the organ said.

In December 2022, the government established a ‘Structured Dialogue Platform’ with all its creditors and development partners, to institutionalise structured dialogue on economic and governance reforms to underpin the arrears clearance and debt resolution process.

Since then, the country has been conducting debt-structured dialogues with its creditors to map a way forward on its debt arrears clearance strategy.

This comes as external debt stood at US$12,68 billion as of the end of September 2023.

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Zimbabwe's external creditors slammed for 55% interest on principal debt | - New Zimbabwe.com
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Zimbabwe's external creditors slammed for 55% interest on principal debt | - New Zimbabwe.com

By Alois  Vinga


A huge chunk of the country’s external debt has been worsened by exorbitant Principal Arrears (PRA) and Interest Rates (IRA) which in turn subdues the country’s repayment efforts, Zimbabwe Coalition on Debt and Development (ZIMCODD) has bemoaned.

The 2023 analysis of the Public Debt Report published by the ZIMCODD this week says the granular analysis of the public debt report shows that the primary drivers of public debt in Zimbabwe are arrears and penalties on existing debts.

“Of the US$12.7 billion total external PPG debt, principal arrears (PRA), interest arrears (IRA), and penalties (PEN) alone constitute 54.9% (US$6.98 billion). From another angle, of the combined bilateral and multilateral debt amounting to US$9.1 billion, about 76% (US$7 billion) are PRA, IRA, and PEN.

“The penalty interest rate charged by creditors is exorbitant; for instance, the highest penalty rate for bilateral creditors is 12.2%, while the highest penalty rate for multilateral creditors is 10.5%,” the analysis reads in part.

The report also establishes that the debt default of the early 2000s, coupled with a shrinking economy, has attracted prohibitive penalties and subdued the capacity to service debts, thus trapping Zimbabwe in a debt overhang position.

“Also, due to these high debt arrears, access to concessionary loan finance has been blocked. As such, predatory creditors are taking advantage of Zimbabwe’s debt crisis by fueling debt expansion – mortgaging natural resources and mineral revenues.

In addition, the public debt report also shows that debt stock is driven by government debt guarantees, particularly in agriculture. For example, as of the end of September 2023, non-performing guarantees (NPGs) totalled US$198.01 million and ZWL3.1 trillion.

About 98.4% of these NPGs supported farmers, with some loans having recovery rates as low as 20%.

“The fact that taxpayers end up assuming NPGs they have never benefited from, as most beneficiaries are the ruling class and their connected few, has created a moral hazard, leading to more debt accumulation,” the organ said.

In December 2022, the government established a ‘Structured Dialogue Platform’ with all its creditors and development partners, to institutionalise structured dialogue on economic and governance reforms to underpin the arrears clearance and debt resolution process.

Since then, the country has been conducting debt-structured dialogues with its creditors to map a way forward on its debt arrears clearance strategy.

This comes as external debt stood at US$12,68 billion as of the end of September 2023.

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Zimbabwe's external creditors slammed for 55% interest on principal debt | - New Zimbabwe.com
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Christian Horner: Investigation into Red Bull team principal expected to be resolved before Bahrain GP - Sky Sports

An investigation into Red Bull team principal Christian Horner for alleged inappropriate behaviour is likely to be resolved before this week's season-opening Bahrain Grand Prix.

Earlier in February, Horner was placed under investigation by the F1 team's Austrian parent company Red Bull GmbH following an allegation of inappropriate behaviour being made against him by a female colleague.

The external investigation carried out by a specialist barrister, which included an interview with Horner on February 9, is understood to have now been completed.

Horner has denied the allegations throughout the process and was present at reigning constructors' champions 2024 car launch and pre-season testing in Bahrain last week.

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Martin Brundle speaks to Sky Sports News about the ongoing situation at Red Bull.

The extensive report, which is thought to run well over 100 pages, is now in the hands of the Red Bull GmbH board, who will ultimately decide whether Horner remains in his dual roles of team principal and chief executive.

It was understood and reported on Monday that a decision was expected to be made and communicated on either Tuesday or Wednesday.

By lunchtime on Tuesday, it emerged that there would be no resolution on the first of those expected two days.

F1 teams and drivers reconvene at the Bahrain International Circuit on Wednesday for media day ahead of Thursday's first practice sessions of the new season, with 2024's opening race on Saturday.

Horner is scheduled to return to Bahrain from the UK on Wednesday.

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Mercedes team principal Toto Wolff says the ongoing investigation into his Red Bull counterpart Horner over alleged inappropriate behaviour is 'an issue for all of Formula 1'

While the saga has played out in public with details repeatedly emerging from reports in the Dutch media, there is no expectation that a decision over Horner's future will be presented with major detail.

Any statement from Red Bull GmbH is expected to reflect a thorough and fair investigation, but matters of confidentiality are likely to limit the amount of information shared publicly.

Horner is F1's longest-serving team principal having been at the helm of Red Bull since they entered the sport in 2005 and has overseen the winning of six constructors' and seven drivers' titles.

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McLaren team principal Zak Brown gives his views on the current investigation surrounding Horner and inappropriate behaviour at Red Bull

Mercedes team principal Toto Wolff said during pre-season testing that the Horner situation is "an issue for all of Formula 1, while McLaren chief executive Zak Brown called for a "swift " and "transparent" conclusion to the investigation.

Red Bull's Max Verstappen, who is seeking a fourth successive drivers' title with the team, said that it would be "nice for everyone" when the matter is resolved.

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Max Verstappen claims to be focusing purely on his own performance, when questioned over the allegations surrounding Horner

Horner, who had said at Red Bull's launch on February 15 that it was "business as usual" for the team, was asked two questions on the investigation in the same press conference as Brown but said he was unable to comment.

The investigation and its handling is currently somewhat out of the hands of the Red Bull Racing team, with Red Bull GmbH in control.

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Christian Horner: Investigation into Red Bull team principal expected to be resolved before Bahrain GP - Sky Sports
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'Devastating loss': Community mourns 'beloved' principal - Stuff

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'Devastating loss': Community mourns 'beloved' principal  Stuff
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Christian Horner: Investigation into Red Bull team principal expected to be resolved before Bahrain GP - Sky Sports

An investigation into Red Bull team principal Christian Horner for alleged inappropriate behaviour is likely to be resolved before this week's season-opening Bahrain Grand Prix.

Earlier in February, Horner was placed under investigation by the F1 team's Austrian parent company Red Bull GmbH following an allegation of inappropriate behaviour being made against him by a female colleague.

The external investigation carried out by a specialist barrister, which included an interview with Horner on February 9, is understood to have now been completed.

Horner has denied the allegations throughout the process and was present at reigning constructors' champions 2024 car launch and pre-season testing in Bahrain last week.

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Mercedes team principal Toto Wolff says the ongoing investigation into his Red Bull counterpart Christian Horner over alleged inappropriate behaviour is 'an issue for all of Formula 1'.

The extensive report, which is thought to run well over 100 pages, is now in the hands of the Red Bull GmbH board, who will ultimately decide whether Horner remains in his dual roles of team principal and chief executive.

A decision is expected to be made and communicated on either Tuesday or Wednesday, when Horner is scheduled to return to Bahrain from the UK. The opening practice sessions of the 2024 F1 season take place on Thursday, ahead of Saturday's race.

While the saga has played out in public with details repeatedly emerging from reports in the Dutch media, there is no expectation that a decision over Horner's future will be presented with major detail.

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McLaren team principal Zak Brown gives his views on the current investigation surrounding Christian Horner and inappropriate behaviour at Red Bull.

Any statement from Red Bull GmbH is expected to reflect a thorough and fair investigation, but matters of confidentiality are likely to limit the amount of information shared publicly.

Horner is F1's longest-serving team principal having been at the helm of Red Bull since they entered the sport in 2005 and has overseen the winning of six constructors' and seven drivers' titles.

Mercedes team principal Toto Wolff said during pre-season testing that the Horner situation is "an issue for all of Formula 1, while McLaren chief executive Zak Brown called for a "swift " and "transparent" conclusion to the investigation.

Please use Chrome browser for a more accessible video player

Max Verstappen claims to be focusing purely on his own performance, when questioned over the allegations surrounding Christian Horner.

Red Bull's Max Verstappen, who is seeking a fourth successive drivers' title with the team, said that it would be "nice for everyone" when the matter is resolved.

Horner, who had said at Red Bull's launch on February 15 that it was "business as usual" for the team, was asked two questions on the investigation in the same press conference as Brown but said he was unable to comment.

The investigation and its handling is currently somewhat out of the hands of the Red Bull Racing team, with Red Bull GmbH in control.

Adblock test (Why?)


Christian Horner: Investigation into Red Bull team principal expected to be resolved before Bahrain GP - Sky Sports
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