The dangers of debt relief

[Ferrari]

I wonder what the exact details in the new petroleum law he passed were. They're being really vague about the new implementations that will be more attractive to international investors. maybe the amended bill was one of the prerequisites for the debt relief. This is what they have to say about the reforms they help with
"The IMF's technical assistance takes different forms, according to needs, ranging from long-term hands-on capacity building to short-notice policy support in a financial crisis. Technical assistance is delivered in a variety of ways. IMF staff may visit member countries to advise government and central bank officials on specific issues, or the IMF may provide resident specialists on a short- or a long-term basis. Technical assistance is integrated with country reform agendas as well as the IMF's surveillance and lending operations.

The IMF is providing an increasing part of its technical assistance through regional centers located in Côte d'Ivoire, Gabon, Ghana, Mauritius, and Tanzania for Africa; in Barbados and Guatemala for Central America and the Caribbean; in Lebanon for the Middle East; and in Fiji for the Pacific Islands. The IMF also offers training courses for government and central bank officials of member countries at its headquarters in Washington, D.C., and at regional training centers in Austria, Brazil, China, Singapore, Tunisia, and the United Arab Emirates.

Partnership with donors

Bilateral and multilateral donors are playing an increasingly important role in enabling the IMF to meet country needs in this area, with their contributions now financing about two thirds of the IMF's field delivery of technical assistance. Strong partnerships between recipient countries and donors enable IMF technical assistance to be developed on the basis of a more inclusive dialogue and within the context of a coherent development framework. The benefits of donor contributions thus go beyond the financial aspect.

The IMF is currently seeking to leverage the comparative advantages of its technical assistance to expand donor financing to meet the needs of recipient countries. As part of this effort, the Fund is strengthening its partnerships with donors by engaging them on a broader, longer-term and more strategic basis.

The idea is to pool donor resources in multi-donor trust funds that would supplement the IMF's own resources for technical assistance while leveraging the Fund's expertise and experience. Expansion of the multi-donor trust fund model is envisaged on a regional and topical basis, offering donors different entry points according to their priorities. To this end, the IMF is establishing a series of topical trust funds, covering such topics as anti-money laundering/combating the financing of terrorism; fragile states; public financial management; management of natural resource wealth, public debt sustainability and management, statistics and data provision; and financial sector stability and development.

so it looks like they're not only trying to steal oil, but control the entire potential oil economy in Somalia

So what role does the Somali government play in this? It looks like the whole project will be ran by others.

The one thing Somalis dont understand is that a government has be held accountable by the people. This government never shares anything and the dumb bots that follow think questions mean undermining the government.

 

[Gadhwayne]

I don't know whats up with people acting like anything the IMF and World bank do would ever be the benefit of poor countries. LOL. let's get real for a moment and look at the real reasons behind these so call "debt relief programs"

1.) It's a way to obscure shady business (i.e. multinational corps extending loans to build infrastructure/energy plants using the countries own materials/resources bought for waaaay cheaper than its worth, and then later charging high interest rates -and at the same time stealing resources, and potentially, human organ trafficking, and then on top of that all of the bribes and phantom loans that you hear "pledged" every year but never see or hear or again)

2.) it keeps the country in line. When acceptingtdebt relief the country has to agree to the stringent economic policies "to keep it from returning to being heavily indebted" they say. But why aren't they concerned with the U.S. double digit trillion dollar debt? Why is it so important for them to provide debt relief to poor countries?

These are the list of some of the countries involved in Somalia's debt relief program
Italy, UK, US, France, Norway seriously you should be seeking refuge from these snakes not celebrating every crumb they dangle before you

What happens when under the economic reforms they agreed to Somalia's oil becomes a playground for multinational companies and leaves the somali people with pennies?

@Crow I believe what you said now about farmaajo being a cia agent of chaos. Maybe it'll be proven wrong in the coming years, I hope so, but right now between NGO thieving, sham oil company shares owning khayre and all of the sketchy stuff going on I can definitely see it

ofcourse its not in our interest whatsoever. I am suprised by norways involvement in somalia. this nation portrays itself as a transparent nordic nation but they have been anything but transparent. debt relief basically ensuring their neo colonialist policies are not challenged and somalia basically becomes another african resource colony like congo.

Norway's probably has some long-term con going on but they have yet to realize that trying to control the geeljire is like trying to court a rock.

This debt forgiveness deal is going to end up backfiring but not just for us.

We're the lunatics that tried to play NATO & the Soviets against each other. GD luck trying to get us to take hints. Like I said..courting a rock.

here comes the money. I'm gonna build three mansions and have 4 wives

One minute they say debt relief lol, not gonna happen, fake news bla bla bla

Now they have an opinion

You gotta love Sspot characters

How about debt REPUDIATION. Anything borrowed by Afwene since the time he fought Isaaq, HG, Xawaadle, CumarMaxammud is NOT payable. The descendants of the nation ruined by Afwene shouldn't have to pay back his financiers for his debt