AbdiGeedi
To keep your balance, you must keep moving.
Stopped by to read about the aftermath of the Somalia-Somaliland negotiations in Djibouti and was compelled to start this thread.
There is this euphoric celebrations in Somaliland about this:
Lets put things in o prospective and see what this is all about.
The debt relief will lead to the debt reduction from US$5.2 billion to US$557 million. The International Monetary Fund (IMF) and the World Bank have ALREADY determined Somalia has taken the necessary steps to begin receiving debt relief under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative. So, the decision has been already made in terms of meeting requirements. The ball is in the IMF and World Bank's court now. The nature of sovereign debt is such that countries can not be forced to pay them back apart from military occupation and extraction of resources. Which never happens. Since it has already been determined that Somalia can not repay its sovereign debt, there is nothing the IC can do to force their hand on Somalia in this regard. They will have to write the loans off one way or another.
Somalia could ignore any precondition set by the US and the EU if they are true. I believe Somalia needs to vow to never take out IMF loans again. That organization acts like a tool for the Western elite to enslave nations. Countries with independent policies like Russia and Turkey have no debt to the IMF or the World Bank. This whole situation if it is true is as a golden opportunity for Somalia to set itself on a right path.
I believe Biixi is on the PR campaign since neither IMF nor the World Bank made any statement in regards to the Somalia-Somaliland issue.
Farmaajo needs to understand this situation. Somalia has to develop its own independent policy on regional and global issues and stick to it. The IC respects countries that have self-respect. It is just like in life.
This is where the Somalia debt relief stands right now according to the IMF:
There is this euphoric celebrations in Somaliland about this:
Lets put things in o prospective and see what this is all about.
The debt relief will lead to the debt reduction from US$5.2 billion to US$557 million. The International Monetary Fund (IMF) and the World Bank have ALREADY determined Somalia has taken the necessary steps to begin receiving debt relief under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative. So, the decision has been already made in terms of meeting requirements. The ball is in the IMF and World Bank's court now. The nature of sovereign debt is such that countries can not be forced to pay them back apart from military occupation and extraction of resources. Which never happens. Since it has already been determined that Somalia can not repay its sovereign debt, there is nothing the IC can do to force their hand on Somalia in this regard. They will have to write the loans off one way or another.
Somalia could ignore any precondition set by the US and the EU if they are true. I believe Somalia needs to vow to never take out IMF loans again. That organization acts like a tool for the Western elite to enslave nations. Countries with independent policies like Russia and Turkey have no debt to the IMF or the World Bank. This whole situation if it is true is as a golden opportunity for Somalia to set itself on a right path.
I believe Biixi is on the PR campaign since neither IMF nor the World Bank made any statement in regards to the Somalia-Somaliland issue.
Farmaajo needs to understand this situation. Somalia has to develop its own independent policy on regional and global issues and stick to it. The IC respects countries that have self-respect. It is just like in life.
This is where the Somalia debt relief stands right now according to the IMF:
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