Last August, DR authorities had promised to implement many reforms demanded by the IMF ?.in order for the IMF to release the funds. Just yesterday, the DR and the IMF reached an agreement that allowed these funds to be released.
The list below details those important IMF-demanded reforms that Mejia and Malkum implemented:
1. (Null set).
The list below lists some of the more important items that Mejia and Malkum delinquently ignored to implement(these are IMF?s own words):
1. by-laws of the Monetary and Financial Law
2. the approval of the law for systemic bank resolution
3. the approval of the 2004 budget law
4. the unification of the foreign exchange market
5. the continuous performance criteria concerning accumulation of external arrears, exchange rate restrictions, and multiple currency practices
As you can see, the DR made ZERO changes to its corrupt ways??but the IMF saw fit to ignore its own conditions for the loans and give Mejia the money anyway?.
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When you see money disbursed by the IMF/WB et al. Do some quick and easy arithmetic. What you will find is that only half the money is usually spent for its intended purpose?and no one is hiding this?..its out in the open. I have noticed several times recently. For example, the DR just received US$66Million mainly to help the electricity sector. Calderon , in an article in El Caribe, notes that he will be using US$32.5Million to pay generators et al. Where is the rest of the US$66 going? Well, no mystery there. Keep tabs on this and you will agree with my assertion that both the DR and the lenders tacitly agree that ? the money goes straight to lambons' Swiss bank accounts.
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So you might ask yourself, why in the world would an outside institution be willing to lend Mejia money, knowing full well that ? goes to pay previous debts and the other half goes to Mejia?s pockets (a little math shows that the lender and the borrower split up the loan loot)?
While the full answer might be complicated, part of the answer is dirt simple.
A look at the Central Bank?s own publication, the DR authorities plan on paying back the majority of the debt by?.nothing other than:
1. Selling real estate (partly from the failed banks).
2. Selling mines
3. Selling public lands
4. selling govt interest in private enterprises (are there any left).
5. increase taxes (further) on tobacco, beer, et al
6. eliminate tax exemption on the interest of some Central Bank certificates
7. eliminate tax exemption on SAvings and loan
The IMF and other creditors will soon own those hotels inside the Parque del Este public protected lands. Mejia is essentially placing the Island itself as collateral?talk about a traitor?somebody hang him by the balls, please!!..
The list below details those important IMF-demanded reforms that Mejia and Malkum implemented:
1. (Null set).
The list below lists some of the more important items that Mejia and Malkum delinquently ignored to implement(these are IMF?s own words):
1. by-laws of the Monetary and Financial Law
2. the approval of the law for systemic bank resolution
3. the approval of the 2004 budget law
4. the unification of the foreign exchange market
5. the continuous performance criteria concerning accumulation of external arrears, exchange rate restrictions, and multiple currency practices
As you can see, the DR made ZERO changes to its corrupt ways??but the IMF saw fit to ignore its own conditions for the loans and give Mejia the money anyway?.
**********************************************************************************************************************
When you see money disbursed by the IMF/WB et al. Do some quick and easy arithmetic. What you will find is that only half the money is usually spent for its intended purpose?and no one is hiding this?..its out in the open. I have noticed several times recently. For example, the DR just received US$66Million mainly to help the electricity sector. Calderon , in an article in El Caribe, notes that he will be using US$32.5Million to pay generators et al. Where is the rest of the US$66 going? Well, no mystery there. Keep tabs on this and you will agree with my assertion that both the DR and the lenders tacitly agree that ? the money goes straight to lambons' Swiss bank accounts.
*********************************************************************************************************************************************************************************
So you might ask yourself, why in the world would an outside institution be willing to lend Mejia money, knowing full well that ? goes to pay previous debts and the other half goes to Mejia?s pockets (a little math shows that the lender and the borrower split up the loan loot)?
While the full answer might be complicated, part of the answer is dirt simple.
A look at the Central Bank?s own publication, the DR authorities plan on paying back the majority of the debt by?.nothing other than:
1. Selling real estate (partly from the failed banks).
2. Selling mines
3. Selling public lands
4. selling govt interest in private enterprises (are there any left).
5. increase taxes (further) on tobacco, beer, et al
6. eliminate tax exemption on the interest of some Central Bank certificates
7. eliminate tax exemption on SAvings and loan
The IMF and other creditors will soon own those hotels inside the Parque del Este public protected lands. Mejia is essentially placing the Island itself as collateral?talk about a traitor?somebody hang him by the balls, please!!..