Six things to know about Somalia's economy

[Inactive]

http://www.imf.org/~/media/Files/Publications/CR/2017/cr1761.ashx

 

[Deactivated]

Arrears baa naa waaley!

This report isn't worth the paper it's printed on.

The moment bond issuance is omitted from the action plans I stop reading any further.

This government has an opportunity to launch a unique bonds campaign isolated to small businesses in Somalia. Issuing bonds to tax paying businesses can give the NAP the much need support and fiscal tax culture the country desperately needs.

Not including bonds or Islamic bond schemes to these fiscal action plans, is a complete disregard to the remittance and ayuuto cultures present within the Somali public.

I would buy Somali bonds in a heart beat, be it they are only focused on reviving Somali crown corporations with competent executives that report transparently to shareholders.

 

[Thegoodshepherd]

Arrears baa naa waaley!

This report isn't worth the paper it's printed on.

The moment bond issuance is omitted from the action plans I stop reading any further.

This government has an opportunity to launch a unique bonds campaign isolated to small businesses in Somalia. Issuing bonds to tax paying businesses can give the NAP the much need support and fiscal tax culture the country desperately needs.

Not including bonds or Islamic bond schemes to these fiscal action plans, is a complete disregard to the remittance and ayuuto cultures present within the Somali public.

I would buy Somali bonds in a heart beat, be it they are only focused on reviving Somali crown corporations with competent executives that report transparently to shareholders.

I don't know why the IMF, World Bank and the various institutional lenders still count the debt of the Kacaan as being in arrears! it is not like we are ever paying them back. They should wipe the slate clean and start afresh. If the IMF expects us to pay them back the $230 million from 26 years ago, they are sorely mistaken.



Edit: They think they are getting it back, the brazenness is unbelievable.

The International Monetary Fund says creditors may forgive part of Somalia’s outstanding $5.3 billion debt if the strife-torn Horn of Africa state takes concrete steps toward reforming its economy and improving governance.

Somalia, gripped by a three-decade civil war, would have to first clear arrears owed to the IMF, the World Bank and the African Development Bank, according to IMF’s country head Samba Thiam. An arrears-clearance plan, a new currency, an effective monetary policy and a “solid track record” on good governance may lead to fresh funding, Thiam said in an interview Feb. 17 in Nairobi, the capital of neighboring Kenya.

https://www.bloomberg.com/news/arti...ia-print-first-banknotes-in-a-quarter-century

 

[Inactive]

I don't know why the IMF, World Bank and the various institutional lenders still count the debt of the Kacaan as being in arrears! it is not like we are ever paying them back. They should wipe the slate clean and start afresh. If the IMF expects us to pay them back the $230 million from 26 years ago, they are sorely mistaken.



Edit: They think they are getting it back, the brazenness is unbelievable.


https://www.bloomberg.com/news/arti...ia-print-first-banknotes-in-a-quarter-century

In the real world, you pay your debts.

 

[Thegoodshepherd]

In the real world, you pay your debts.

I don't know how anyone can expect a country like Somalia to service a $5 billion debt when half of the people are on food aid. Somalia's debt to GDP is 93%, the only way out is to offer all creditors a 95% haircut. Any money Somalia sends these institutions will have been cannibalized from the development agenda.

 

[Inquisitive_]

@Thegoodshepherd

It's a enslavement tool, you should read the famous book "the confessions of an economic hitman" to see how they do it, the dude is all over youtube being a whistle blower, talking in detail how he fucked up many countries through these schemes.

If you don't know the enemy and their plans/plots/schemes you will fall for it without even knowing, these deals have compounding interest, the whole point behind them is to ensure that you are never ABLE to pay them back, a case study of this is Nigeria and their former leaders famous quote were he referred to this as the greatest weapon of mass destruction he has ever known


"there is two ways to conquer and enslave a nation, one is by the sword, the other through debt"