More LOSS of our ECONOMIC SOVEREIGNTY thanks to the PLD's STEALING!

La Cita: Autopista del Coral
La Fecha: 8 August 2012

:-)

* Gracias Dios, tenemos a Leonel, a Danilo, y a Margarita *
DANILO MEDINA, Presidente Electo, PLD, Rep. Dominica

Don´t do it mr Medina. The IMF is a bank after all, and banks exist by lieing to their clients. First we got our pay in a paper bag every month, now the banks tell us that is impossible, payment MUST BE done trough a bank account! Then they lend money to you, as much as you like. Untill you cannot pay the interest! Then they will claim everything you built or bought with that borrowed money, and sell it from under you. The fact that they leave the empoverished person, or in this case, the whole country, alone and without recources, seems to give them pleasure. Do not fall into the trap of the promisses of the IMF, they value less than the promisses of a politician during elections. Don´t sell out the Dominican Republic.

the problem with borrowing from the IMF and other international financial institutions is that they want their money back. they want to make sure that you can pay when the note comes due. so, in order to ensure your ability to repay, you get the loan with conditionalities, not the least of which is some kind of shock treatment structural adjustments, which further impoverish the population. yes, the GDP figures might look good, but the Human Development Indices show that the quality of live goes backwards. not good.

dreadlocks ,,what you say is not correct ..most of the loans if not all that the DR takes out can be rolled over , especially as our economy has improved. The IMF has already published several ltimes as has the world bank that the main soncern for them in this country is that not sufficient people in the population here have benefitted from the improved economy ,That being their published attitude , then we can expect the management assistance from them to focus on getting more people into a better economic position .
We are as a nation in a very healthy economic position , thanks to the central bank with a good growth rate , low sovereign debt and inflation that is lower than most countries but which has to be controlled .
I doubt if Josean has the slightest clue about his phrase ..more loss of economic sovereigny ..I certainly do not know what it means , because all decisions will still be taken by the DR ,,we are only seeking technical support
But some are against everything

what i say is not correct? you mean that the World Bank, and other IFIs, lend money without conditionalities? you mean that the term ¨structural adjustment¨is mythical? you mean that all the economists who write copious articles about the effects of the IMF conditionalities on developing countries are imagining things? you mean that Joe Siglitz, and others, are wrong? Noam Chomsky? what am i wrong about? you mean that we will get some sweet deal, because the IMF loves us that much?

whats happening is king of good and bad at the same time, its making way for this country to in a few years become a second world country, similar to something like chile, but in the process the poor people are kind of getting the middle finger, everything is extra hard for the poor people

only the middle/upper class will be able to survive this transition into a second world country. which is why now poor people think twice and three times before having a lot of kids since before they could easily had 9 without worrying about food etc

Ricardolito, can you explain to me why Stiglitz, a former Chief Economist at the World Bank, is so critical of the IFIs, and initiatives such as the Washington Consensus? do you think it is because he is bitter about something? if so, what might it be?

no Dreadlocks you said that the DR has topay when the note falls due ,,,and the answer to that is no ,,,they roll the notes over ,,,Even with such institutions as the multi national merchant banks where we borrowed money at the lowest rate in our history and there was an overflow of subscriptions , when the money is due for repayment we will take advantage of the roll over provisions ..that is why I am always hoping the peso stays more or less the same .
You ask about a sweet deal ...we already have had a wonderful sweet deal because, after the London G20 meeting,we obtained loans against the rights of the richer countries....at that stage they did not realise that they themselves were in a real pickle ,, they were tring to avoid the flow on effects of the world downturn to countries such as the DR

they might roll the payments over, but they are not forgiven. you will pay them, one day, with additional interest.

ah yes ...that is for sure ..to be forgiven we really have to be a failed state and then there will be calls for debts to be forgiven ...just as in many Arican countries ..that will not happen here ..

"we really have to be a failed state"


"..that will not happen here .."


Don't Be so Sure!



List of countries by Failed States Index


Domnican Republic on the Warning List of Failed States

wikipedia.org/wiki/List_of_countries_by_Failed_States_Index