Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
The IMF scam is slowly being exploded
#1
http://news.bbc.co.uk/1/hi/business/7947787.stm

Sri Lanka plays hardball with IMF

[Image: _45573992_006962000-1.jpg]
President Mahinda Rajapaksa says Sri Lanka will not bow to IMF conditions

Sri Lanka will not accept any conditions on a loan from the International Monetary Fund (IMF), the island's president has said.

"We will not pawn or sell our motherland to obtain any monetary aid," said Mahinda Rajapaksa.

The Sri Lankan government is in talks with the IMF about a $1.9bn (£1.4bn) loan to help combat the economic downturn and pay for reconstruction.

The IMF usually insists on conditions for any emergency loans.

No forced measures

These involve taking steps such as cutting public spending or raising interest rates.

But Sri Lanka has made it clear it will not be forced into taking any such measures.

"Neither will we bow to any conditions or transform our land to a colony," Mr Rajapaksa is quoted as saying in the local, state-controlled Daily News newspaper.

The country has been hit by slowing tea and textile exports that have depleted the country's foreign currency reserves.

It also needs money to pay for reconstruction work in the north and east of the island after recent fighting with Tamil Tiger rebels.

Sri Lanka's central bank also believes that an IMF loan would encourage other institutions to offer monetary support, as well as boosting international investors' confidence in the island.

The bank said it expects government negotiations with the IMF to be completed by the end of March.

On Monday, Serbia announced a 2bn euro ($2.6bn; £1.85bn) loan from the IMF.
The shadow is a moral problem that challenges the whole ego-personality, for no one can become conscious of the shadow without considerable moral effort. To become conscious of it involves recognizing the dark aspects of the personality as present and real. This act is the essential condition for any kind of self-knowledge.
Carl Jung - Aion (1951). CW 9, Part II: P.14
Reply
#2
Good on him. Why should they play that rigged game?

Of course no one is saying it but the west doesn't play that game either. They're all madly trying to bail out their local industies and they are not taking the IMF medicine they so much insist other poorer nations swallow.
"The philosophers have only interpreted the world, in various ways. The point, however, is to change it." Karl Marx

"He would, wouldn't he?" Mandy Rice-Davies. When asked in court whether she knew that Lord Astor had denied having sex with her.

“I think it would be a good idea” Ghandi, when asked about Western Civilisation.
Reply
#3
I wouldn't place any bets on his being head of state [or alive] long. Listen or read Perkins in his Confessions of an Economic Hit Man.
Reply


Possibly Related Threads…
Thread Author Replies Views Last Post
  Yet Another Scam - Student Loans & Forcing Default Peter Lemkin 9 4,429 16-05-2009, 04:59 PM
Last Post: Myra Bronstein
  The Free Market, Financial Style. How the Scam Works Magda Hassan 0 1,797 28-03-2009, 12:17 AM
Last Post: Magda Hassan
  Treasury Nominee Failed to Halt Bond Scam. Some questions to answer Magda Hassan 0 1,934 20-01-2009, 05:47 AM
Last Post: Magda Hassan
  A high yield scam David Guyatt 0 2,014 Less than 1 minute ago
Last Post:
  The Scam Wall Street Learned From the Mafia - Taibbi Peter Lemkin 0 3,645 Less than 1 minute ago
Last Post:
  Banker scam are now called "conduct risks" David Guyatt 0 2,976 Less than 1 minute ago
Last Post:
  The Mega Banks' Most Devious Scam Yet Lauren Johnson 0 1,888 Less than 1 minute ago
Last Post:

Forum Jump:


Users browsing this thread: 1 Guest(s)