It is apparent that a number of you really don’t grasp the situation in its entirety within the world. This can be accomplished by searching out that which may interest you. If you don’t really have an interest then you can benefit from that which is placed on this board or you can ignore it.
The problem that some of you face is that the information being passed on is supposed to be related to that which deals with the DR. You can try to defend the position that the WB, Paris Club and IMF do relate to the DR but that is only true if you mention the DR in conjunction to your posting about the lending institutions.
There are times when moderators will allow discussions to travel off course but please understand that the reality of the situation is that they are not supposed to allow that to happen. Needless to say I am guilty of this as can be evidenced by this thread. You may say that this spill over into other areas is a good teaching tool and that is a true statement but the purpose of this board is to serve as a teaching tool about the Dominican Republic and not for other things.
Having said all that I will now post some information and links that go contrary to the purpose of this board and hope that the big red button in the sky doesn’t fall down upon us.
The IMF just like all businesses and nations has problems.
Here is a recent link that explains that they too have money problems. If you read that article and pay attention to that which is being said you will discover that the IMF, though having a lot of American members is NOT the US government. The US does in fact have veto power but the IMF IS NOT THE US. By all indications the IMF would be in a much better position overall if in fact they were to sell some gold. The problem lies in the speculation that the selling of this gold would reduce the price of said metal and that would be contrary to that which the US wants, see
this article, and therefore the reason for their going against such a sale. Kind of reminds me of the old adage “Power corrupts and absolute power corrupts absolutely”. It must be remembered that the reason the IMF was formed started back in the crash of wall street and the depression. As the US was the big kid on the block and there was a consensus from other nations that something had to be done to help those nations financially the US placed those rules which gave them the advantage. All of you should understand the reasoning behind this decision on the part of the US. You can sit back and rant and scream all you want about it not being fair but that is the way it was set up back in 1944 and they still have the controlling power.
This article is interesting in the fact that you will notice that Zimbabwe was told it needs to change its policies by the IMF but also that when they went to another country separate from the IMF to borrow money that they were told by that country that before they were to lend them money that Zimbabwe would have to change its policies. That statement alone should tell you something and in reality should shut up some of you that are trying to build such a strong case against the workings of any lending institution as they all seem to be of the same mental psychology when it comes to lending money to those that can’t get their act together.
Now let us place all this knowledge that we have and have acquired as it relates to the DR. I am not talking about the workings of the IMF, WB, Paris Club, the South African government or any other entity. I am not talking about dishonesty or corruption within those organizations. I am talking about the Dominican Republic only.
The Dominican Republic, like all countries and organization, is having a hard time with finances and to help overcome these problems they have decided to borrow money to tide them over. The facts in this case are;
1. That they have decided to borrow from the IMF, WB, Paris Club and anyone else that will lend them money.
2. All those organizations attach strings or recommendations to their loans.
3. The DR has a problem or problems that have gotten them into this situation.
All those are facts and can not be disputed and any attempt to do so is waste of time and effort and is mute.
As number 1 is a “gim-me” there is no reason to talk about it other then any future lending that hasn’t happened yet.
Number 2 is also a “gim-me” as those entities are only looking for a way to insure that they have some semblance of a return on their investment which should appear as natural business workings. The fact that the borrower came to them in the first place is a sure indicator that they don’t know how to manage their finances and the reason for requesting a loan. Those lending institutions are no experts on running a country but their experiences have shown that if a country incorporates A, B, C and D there is the possibility that things will become even and will allow the borrower to reap a sufficient profit to run their country and also pay back the lender.
Talking about point number three I’ll offer some links;
1,
2,
3,
4,
5,
6,
7 the speech by Sr Menendez a short way down,
8,
9,
10,
11.
These are just some of that which I am trying to convey to you concerning the situation here in the DR. The reality is that there should be no need to indicate this as I am sure that all of you are aware of the situation here. The very fact that Dominican citizens almost on a daily basis risk and at times lose their lives in an attempt to escape this country in their search for a better and sustainable life should be a testament to the workings in this country that could and should offer so much more to its population.
Rick
The above posted links were not posted as a means to argue the validity of that which was stated but rather as an indicator as to how different people interpret the situation.
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No charity case !!!!
