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Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by ilohim: 4:23pm On Sep 16, 2009 |
I thank God that we all know the IMF dont mean well for this nation or any other african nation for that matter. I wonder who they think cares if they endorse CBNs actions? They are a shylock slavery inclined body, ready to feast on any African nation that allows them to;they were there 92 American banks failed, what did they do about it? The earlier they know they are worth nothing around here the better. Like we have all rightly said, we do not need their endorsement,they should take it elsewhere,their antecedents are nothing to write home about. As for the CBN governor, he has started changing currency notes already,the harm he has caused the banks he is yet to find a solution to it with his hasty,ill thought out,crude intervention;his intrigues seem not to have an end in sight! I wonder when he would finally tell us what became of the 14 other banks he audited,or are they all 'sound'? What a laff! At the end of day, we wait to see the 'faceless' foreign investors he wants to sell Nigerian banks to; he definitely thinks he has us fooled with all his antics,imagine Chinese slave drivers who only want to rip off people are the ones Sanusi Lamido would even consider selling Nigerian banks to,yet we are 'rebranding the nation'! What a shame! |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by baekdoosan(m): 4:32pm On Sep 16, 2009 |
IMF, i never liked them. |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by BAMMZ(m): 4:56pm On Sep 16, 2009 |
time will prove all things, lets just pray it doesnt get out of hand b4 we get a solution to all this madness. I.M.F will support everthing and anything of interest to them and trust our people to luv the psychophancy feeling, God save Nigeria. |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by diehard1: 5:02pm On Sep 16, 2009 |
IMF We are doomed again! by the time they finish dealing with us, na only ? go fit save us. IMF loans |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by candylips(m): 5:36pm On Sep 16, 2009 |
lets focus on Mr sanusi instead |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by odedele: 5:44pm On Sep 16, 2009 |
b4 anko.imf never c anytin good 4 africa.d west is always hapy wen a northerner is heading a top post like cbn gov. cos they know dat they r mumu. |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by bigben3: 5:53pm On Sep 16, 2009 |
@ post,is anyone surprise at all? |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by becomrich15: 6:07pm On Sep 16, 2009 |
I run this information on the internet, I can find a story. coming from thisday newspaper.hmmmmm |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by GeorgeD1(m): 6:20pm On Sep 16, 2009 |
the agenda continues to unfold! |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by yeswecan(m): 6:24pm On Sep 16, 2009 |
This is nonsense. What we experienced in Nigeria is our own version of the economic crises, if you examine the report placed by Sanusi, you will realise most of the funds were actually invested in Stocks and Oil that got crashed crashed. This is our own version of the financial crises, when Europe and America were busy bailing out banks and other sectors to ensure a relapse of the economy; we are arresting our bank MDs for investing funds into crashed market. Tell me; what if the price of crude was still 140? What if stocks were still going up? Lamido Sanusi is nothing but a tribalist. He injected 420 billion into the affected banks, funds that were not even needed. The worst thing about this whole event is that we have loosed more that we can ever get back. The Nigeria stock exchange loosed over 500 billion ordinary people’s money because of Lamido panic plan. |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by yeswecan(m): 6:28pm On Sep 16, 2009 |
What has the IMF got to do with this? What about the Europe and USA that bailed out banks without arresting or issuing a forced sack. This is all nonsense. There was a northern agenda to acquire 5 banks, however, that plan has failed due to the rumors and all that. Presently Sanusi is confused with what to do with the banks, he come to say this and changes tomorrow. |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by anuore: 7:01pm On Sep 16, 2009 |
Ordinarily, I would not have commented on this topic, but I noticed some comments. IMF wants us to borrow money and enter into the situation we were before the debt was negotiated and settled. Already, they have started to borrow, in the next six years we may get back to that level. We would be using part of Niger Delta Oil money to service the debt. It was not IMF intenvention that lifted Ghana economy, It will divert this topic, I will comment on that another day. What led to the present situation? All the gains of several years vanished. USA VISA Lottery will start to boom like in the Abacha years. Most Airports will become Ghost cities like it was in the past, boost in the maritime business would give way, private sectors driving the economy would retrench thousands of Nigerians because the new investors would certainly retrench and only Government will be driving the economy with oil money and lazy people will be on the board and be eating. Bombers will be deployed to Niger Delta for Oil money to continue to flow at all cost. IMF and this Government. Private investors driving a non performing economy. Those corporations having non performing loans, when they were ran profitless for years, how much billions has government wasted on them? The monopoly of Nitel frustrated NCC from performing for several years. The freedom of Nigerians is what the investors in Nitel and the bank involved is suffering. IMF is welcome again. |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by GeorgeD1(m): 7:07pm On Sep 16, 2009 |
yeswecan: the man thinks we're as stupid as he is. |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by Chizua(m): 7:58pm On Sep 16, 2009 |
they save the interest of the western countries only ayobase: Thanks for your wisdom |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by rasputinn(m): 9:17pm On Sep 16, 2009 |
Where was IMF when the global meltown was brewing,IMF is over rated |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by snapshot: 4:03am On Sep 17, 2009 |
when it speakeath fair believe not,there are seven abominations in it's mouth-IMF,the grand daddy of exploitation |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by Nobody: 5:07am On Sep 17, 2009 |
, |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by Nobody: 9:13am On Sep 17, 2009 |
snapshot: PARDON |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by Nobody: 9:14am On Sep 17, 2009 |
IMF sucks big time.They want us to mortgage what is left of our future. A big NO NO |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by MrCrackles(m): 9:17am On Sep 17, 2009 |
bawomolo:Thank you. . |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by davizzy: 9:25am On Sep 17, 2009 |
Is IMF the problem? Would we need IMF if this nation was governed properly? We need to look at ourselves deeply and make a change to make this nation a great. A great percentage of the loans this nation takes for whatever purpose or project the nation needs it for, goes into individual pockets. I do not think we need an IMF loan however we are the problem that we need to solve NOW, not IMF. |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by ojesymsym: 9:32am On Sep 17, 2009 |
When IMF gives u a pat on the back, it means ur doing the wrong things for ursef and d rite things for them and their cohorts. Sanusi, on whose side are u? |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by otokx(m): 10:29am On Sep 17, 2009 |
IMF is not good news at all. |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by GeorgeD1(m): 11:02am On Sep 17, 2009 |
bawomolo: tell me which country on earth has even been better off after taking an imf loan. |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by Nobody: 11:31am On Sep 17, 2009 |
George_D: George_D:NONE |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by Feraz(m): 11:38am On Sep 17, 2009 |
Was it not d same IMF dat told us we were under-borrowing? n also told us 2 adopt SAP instead of implementing fifth dev. plan? |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by candylips(m): 12:14pm On Sep 17, 2009 |
IMF |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by bibiking1(m): 12:32pm On Sep 17, 2009 |
This is some bad news |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by FBS: 12:40pm On Sep 17, 2009 |
IMF is a NO NO!. make them waka pass abeg. |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by GeorgeD1(m): 1:26pm On Sep 17, 2009 |
so, you see sanusi wisdom now? |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by martinosi: 1:49pm On Sep 17, 2009 |
The IMF, World Bank, WTO, UN, Etc all these "so called International Bodies were founded after world war 2 to impose the subtle Imperial Empire Structure of the USA with its Junior Partners, Britain, France etc. The IMF so called SAP Programmes have destroyed the fabric of Devloping nations after this so called nations took "Larger than life" Loans in the late 60, 70's and 80's with the so called mind to develop there economies and become like Western Europe Overnight(ie in say 10 years duh!!!) This is nothing short of a miracle as any honest economist knows you do not develop your economy by going into debt, but by imposing import restrictions so that Internal Industry can grow first by strengthing the agricultural sector, then by developing small scale industry ie textiles, food processing and light manufacturing, then aslo making sure than the basic infastructure is in place ie major roads, bridges, railways, ports etc. Also developing basic eduaction, health care and telecommunications. This is how Western Europe was developed after world war 2 via the "marshall Plan" ie Ecomonies of france , germany etc. They received this funding via the World Bank and IMF which are based in New York. The World bank and IMF main shareholder are USA, UK, France. When you Approach the World/IMF for a loan, they will inturn meet there shareholder govt who will then turn to there Investment Bankers for the Money ie Goldman Sach, JP Morgan, etc It was in the interest of the USA, UK to develop the destroyed economies of Germany and france and bring them under there Political, Economic & Security Unbrella ie , G7, O.E.C.D & NATO. You have to have allies in Order to run an Empire!!! but in terms of the Devloping world the USA Elite thought it best to control these economies via deception and trickery ie through rogue economist and making sure that there economies do not develop any form of strong indutrial base. So these economiess should forever remain as resource extraction centers for the uSA & its Junior partners in the game of Global Domination. So these countries were issued all kinds of receipes for development based on Debt financing but were never given access to advanced technology like france, germany and Japan was to build there economies. In order to develop your economy the right way, you need 1 - Sound Politcal structure ie Leaders that are not wimps!!! 2 - Good Organisation Structure ie Economic, Political, Social 3 - Identify Resouces that are key to your develop and not those who want to buy it!!! Duh!!! Have you ever heard that the UK Exports it North Sea Oil !!! Duh!!! 3 - Advanced Technology 2 - Training 3 - Access to Markets to trade on a fair basis. The third world nations ie Nigeria, Ghana, Peru, etc were not given these and also being Young Countries did not understand the Global Political Game. and so were given loans that had all kinds of "stringent conditionalities" tied to it with the prospect of "Compound interest" making the debt to be in the future "Un-repayable". This was a "Secret Strategy" to keep the Economies of the third world in servitude to the Western World. Right not all we have is Indebted third world countries that now have to sell of their resources on the cheap in order to raise finances to pay there debt and try and run there crippled economies which has led to capital flight and mass migration of the so called middle class of these - countries ie over 300,000 Nigerians in the UK and over 1 million Nigerians in the USA alone. this has happended to so manY Sub-Saharan african countries and also in South America and Asia. The Debt Trap is the Oldest trickin the "Political Play book" and it is the card being played by The West on Third world economies. The only way a third world Economy can develop is when the Ruling elite of the country understands the Con game and turns it around and uses it againt the G7 Countries ie China!!!. China just goes about stealing the Advanced technology and using it to advance its own country!!! read the book "China Inc" by Ted Fisherman for more insight.[/b] So in conclusion THE World Bank, IMF etc are only there to help the Owners ie US, UK, France etc and to screw the Economies of the third World. [b]China Knows this and does not play there game. If Nigeria whats to develop at a good pace it should learn a few tricks from the Chinese and start doing more trade with countries who are willing to trade adavnced technology with them ie China, Malaysia, Canada , Australia etc. I leave you all with a Article by a US congressman that kind of Sums It Up about the IMF!!! **************************************************** The IMF Con - 2004 by Rep. Ron Paul, MD Source - http://www.lewrockwell.com/paul/paul206.html You won’t hear either presidential candidate say much about the issue of foreign aid during this election season, despite the record levels of federal spending and debt that plague our economy. Very few Americans realize the extent to which Congress sends billions of their tax dollars overseas to fund the most counterproductive foreign welfare schemes imaginable, always in the guise of helping the poor. A recent report by the congressional Joint Economic Committee on which I serve highlights the reckless manner in which one organization, the International Monetary Fund, wastes your money around the world. The IMF provides a perfect illustration of the both the folly of foreign aid and the real motivations behind it. The IMF touts itself as a bank of sorts, although it makes “loans” that no rational bank would consider – mostly to shaky governments with weak economies and unstable currencies. The IMF has little incentive to operate profitably like a private bank, since its funding comes mostly from a credulous US Congress that demands little accountability. As a result, it is free to make high-risk loans at below-market interest rates. The real purpose of the IMF is to channel tax dollars to politically-connected companies. The huge multinational banks and corporations in particular love the IMF, as both used IMF funds – taxpayer funds – to bail themselves out from billions in losses after the Asian financial crisis. Big corporations obtain lucrative contracts for a wide variety of construction projects funded with IMF loans. It's a familiar game in Washington, where corporate welfare is disguised as compassion for the poor. In fact, IMF loans often do far more harm than good. At best IMF borrowers are governments of countries with little economic productivity; at worst the money ends up in the hands of corrupt dictators. Either way, most recipient nations face huge debts they cannot service, which only adds to their poverty and instability. IMF money ultimately corrupts those countries it purports to help, by keeping afloat reckless political institutions that destroy their own economies. Government-to-government transfers through a middleman like the IMF cannot produce real growth. When capital remains in private hands, it is allocated to its most productive uses as determined by the choices of consumers in the market. Placing capital in the hands of politicians and bureaucrats inevitably results in inefficiencies, shortages, and economic crises, as even the best-intentioned politicians cannot know the most efficient use of resources. American taxpayers already lend various governments more than $5 billion annually through the IMF, at a yearly cost of over $300 million because of loan defaults and subsidized interest rates. Now the IMF wants to double its pool of funding, which will put taxpayers on the hook for $12 billion in loans at a cost of about $750 million each year. Furthermore, since the IMF creates “drawing rights” accounts that are redeemable in US dollars, it in essence prints US dollars when it increases those drawing rights. This is a clear violation of our national sovereignty, and a vivid example of why we should stop participating in international schemes like the IMF altogether. The IMF and other complex schemes only serve to obscure the real issue: Why should US taxpayers be forced to send money abroad? Certainly the Constitution provides no authority for foreign aid. In historical and practical terms, redistribution of wealth from rich to poor nations has done little or nothing to alleviate suffering abroad. Only free markets, property rights, and the rule of law can create the conditions necessary to lift poor nations out of poverty. September 28, 2004 Dr. Ron Paul is a Republican member of Congress from Texas. |
Re: "Very Friendly" IMF Backs Sanusi’s Banking Reforms by candylips(m): 2:00pm On Sep 17, 2009 |
Thanks for that article. |
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