Sunday, October 16, 2011

IMF: Using Debt as Global Control Device

Afghan lawmakers agreed on Saturday, 15 October 2011, to reimburse the government for bailing out the Kabul Bank, which nearly collapsed last year because of mismanagement and hundreds of millions of dollars in questionable loans.
The lower house passed a bill to provide up to $825 million over the next eight years to recapitalize Afghanistan's central bank — a move that smooths the way for the International Monetary Fund to extend Afghanistan a new line of credit. Afghanistan has been without IMF backing for more than a year, threatening to choke off billions in aid to the country.

No aid is given; it is contingent on the target country borrowing "money" to pay for aid. If the target country is recalcitrant, it is subjected to more destabilization and destruction by the IMF's enforcement service, the North Atlantic Terrorist Organization.
The corrupt nature of the Kabul Bank serves the IMF by impoverishing Afghans who have suffered ten years of NATO bombing.

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