Saudi Arabia’s $10bn IMF loan and its implications
August 31, 2017
news that Saudi applying for US$10b loan from (IMF) shocking
world’s largest exporter of oil
why does it need loan from IMF?
collapse of Saudi economy slowly but surely
past few years indicate Saudi economy in trouble
need to shift to non-dependence on oil (ha ha ha)
price of oil biggest contributor to slowdown
fall from US$147 in 2008 to $47
Saudis believed they could enjoy massive oil revenues for very long time
instead of investing in infra, technology, human resources while going was good
investment diverted overseas to West
Saudi continued to import even basic foods
in order to provide citizens with comfortable life
Foreigners engaged to carry out specialised and menial roles.
Not even basic industries developed
forget advanced space research, bio-technology, IT, defence.
Saudis now panicking about future
Saudis now panicking about future
govt introduced family tax of 100 Saudi riyals ($26.66) per member per month
introducing value added tax (VAT) from next January.
Subsidies on fuel, water, electricity withdrawn.
Why take loan from IMF?
why Saudi needs US$10 billion loan from IMF
Why take loan from IMF?
why Saudi needs US$10 billion loan from IMF
on paper Saudi among richest nations
oil exports in 2016 valued at $136.2 billion, 20.1% of world market
govt holds estimated US$750b in US Treasury securities
why ask for IMF loan?
Saudis may not have ready access to their $750 billion
families to file case against Saudi for “supporting” terrorism.
1,500 survivors, 850 relatives of victims of 9/11 filed class action suit against Saudi
plaintiffs allege Saudi had prior knowledge
its officials and employees were Al-Qaeda operatives or sympathisers
Saudi do not have access to Treasury securities, pending result of legal action
coupled with down trend of economy, Saudi little choice but to approach IMF
Loans from IMF not cheap
they bleed local economy to death
Conditions include remove subsidies for basics fuel, water, electricity
open markets to the world
remove trade barriers
allow western corporations free access to raw materials
devalue currency
Countries opened-up to capitalist vultures who bleed economy
loans reward politicians’ Swiss bank accounts
IMF and the destruction of Africa
IMF has record of destroying all countries it has financed.
IMF has record of destroying all countries it has financed.
Africa blessed with gold, diamonds, cocoa, vanilla, coffee, tea, oil
IMF approached African countries and promised to develop
best brains at IMF ensure big business gets best out of Africa
keeps Africans poor
many decades of “helping” Africa
world can witness real beneficiaries
IMF identifies country with resources and offers huge loans
money doesn’t actually go to the country
paid to companies building infrastructure.
These projects cater for elite businesses.
if govt can’t pay debts, more loans provided by IMF with stricter conditions
if govt can’t pay debts, more loans provided by IMF with stricter conditions
open up economy for large vultures to tear it apart
doing more harm than good
govt has no option but be enslaved by capitalist corporations
If they rebel they are denounced as terrorists
war declared and country is decimated
country can go from relative stability to Ground Zero in no time
Millions of Muslims from India, Pakis, Bangla, Indon depend on Saudi
Muslims in India are economically backward
leaving for Saudi was dream until few years ago
trend is reversing, workers returning from Saudi without jobs
severe crisis in India which have lost main income source
organisations in India and other countries depend on charity from Saudi
donations for charities overseas already dried up
regular charity payments cut altogether
In India this will have negative impact on Muslim communities.
Saudi been generous for boosting Muslim countries across world
Saudi been generous for boosting Muslim countries across world
With IMF loan conditions Riyadh not able to continue such assistance.
will affect global Islamic "causes"
IMF loan has serious implications for Saudi and all who rely on Saudi.
economic future of Ummah depend on it.
My comments : Saudi Arabia and the mullahs in Iran are the largest exporters of satanism around the world. Saudi Arabia, Iran and Pakistan are the largest exporters of mullah violence around the world.
The fact that Saudi Arabia has squandered their wealth promoting the cause of the shaytan for all these decades has now come back to roost firmly on their heads.
So many Salafi outfits all around the world including those operating in Malaysia will have their wings clipped. No more money from Saudi Arabia.
Allahu Azeem !
Hopefully the Sunni people will become less prone to violence and insane behaviour.
Hopefully the Sunni people will suffer less satanic indoctrination.
THE PROBLEM WITH SAUDI ARABIA IS NOT THE PRICE OF OIL
THE PROBLEM WITH SAUDI ARABIA IS THEIR FALSE BELIEF SYSTEM
LIKE A BLIND FELLOW INSIDE A DARK ROOM SEARCHING FOR A BLACK CAT THAT IS NOT THERE. THE PROBLEM IS THE BLIND FELLOW CLAIMS TO HAVE FOUND THE NON EXISTENT BLACK CAT. AND THEN THEY INSIST THAT EVERYONE SHOULD NOW BELIEVE IN THE NON EXISTENT BLACK CAT.
THIS IS THEIR PROBLEM.
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