US spreads freedom, democracy, DEBT
The International Monetary Fund approved a new $685 million loan for Iraq, giving the country a critical 'endorsement of' its economic performance.Without IMF approval, Iraq's economy will remain under US military control.
The loan . . . represents the IMF's 'seal of approval' [kiss of death] that the Iraq government is taking the proper approach [the $$$ denominated approach] to reviving its wartorn economy.This guy must be smoking some powerful shit.
The loan should open the door to more funding from countries that want to participate in [exploit] Iraq's reconstruction.
"The Iraqi authorities were successful in promoting macroeconomic stability in 2005, despite the extremely difficult security environment," IMF Deputy Managing Director.
The $685 million loan will cover a 15-month period [drop in the bucket] and was awarded under regular IMF procedures [extort, bomb, bleed] to provide assistance to nation's facing economic difficulties.Welcome to the perpetual DEBT club!
It followed a $436.3 million emergency post-conflict loan that the IMF awarded Iraq in September 2004.
The Bush administration, which is counting on the IMF and World Bank to supply a significant portion of the funds needed for Iraq reconstruction, applauded the IMF loan deal. [as sure as night follows day]He must be hanging out the IMF Deputy Director!
"This arrangment will underpin economic stability and help lay the foundation for an open and prosperous economy in Iraq," said Treasury Secretary John Snow.
The loan . . . clears the way for wealthy creditor countries [corporations] to begin implementing a debt relief [nation plundering] program for Iraq that would reduce by 80 percent Iraq's $38.9 billion in foreign debt [pass hammer to someone else] held by members of the Paris Club.Heaven forbid that they consider aiding Iraq with technology and know-how instead of plundering it with funny money.
In September 2004, the Paris Club, the umbrella group of wealthy countries [corporations] including the United States that bargains with [bombs] debtor nations, had announced the debt relief agreement, but it could not go into effect until Iraq and the IMF reached agreement on a loan program.
The Bush administration last year announced it would forgive 100 percent of the $4.1 billion in debt Iraq owed the United States.Given what we we know about INTEREST and fractional reserve banking, the US plans to forgive nothing!!!