World Bank imperialist loans( Credit cards)

This is an interesting one. Babylon should stop playing games with our intelligence.
You mean, they approved a credit card for Sierra Leone Government with cash value that worths $ 30 million on behalf of about 6 million Sierra Leoneans and the Sierra Leone Ambassador to US, have signed for the card(*maybe without even reading the blue prints*)?  Any idea what the APR % might be ?
Next…, is this a secured loan or unsecured loan ? If secured, what's the collateral ?
Well, all of a sudden, we' ve seen a new mining bill swiftly passed in parliament without adequate legislative debate and referendum. We 've also suddenly seen an American company trying to take inventory of all the minerals in Sierra Leone.
O.K…, we are still watching but do the people know what's going on? I mean…, the poor people that makes up majority of the Sierra Leone population. Do they understand that this $ 30 million is a loan with interest added to the principal over a time limit ? Do they know that there is penalty for default ? For transparency sake.., the people needs to understand and be informed about the above conditions before any consent is giving, to obtain any imperialist loans. 
O.K., according to the report below, out of the $ 30 million credit card, NACSA(Sierra Leone) would have access to more than $ 25 million, because according to this report, NACSA has been creating jobs. Maybe someone needs to remind the unemployed youths in Sierra Leone to start looking for jobs, at NACSA.
The report further indicated that 60,000 Sierra Leone youths are expected to benefit from this credit card and about 31,000 more people would benefit directly from cash that would be allocated for job pragrams (maybe job centers, job training, etc). That brings the total to about 91,000 people(Sierra Leoneans). Well…, that is it ? Divide
$ 30 million dollars among 91,000 Sierra Leoneans. Each of them, may get about
 $ 330 each, out of the credit card that Ambassador Bockarie has signed for, on behalf of every Sierra Leonean. The next question is: how would each person pay back the $ 330 loan, plus interest ? If they default, what's the penalty ? If they default, who should be held responsible ?
I think, the person that should be held responsible in case of any default should be the ignorant ?????????????????????, and not the innocent people of Sierra Leone.
This is one reason, why the Uhuru movement is on the move. To protect and educate the poor & innocent people of Sierra Leone about the tricks imperialism continues to play with our intelligence. Until the relics of colonialism is removed from the minds of  African politicians, African countries shall ever remain indebted to foreign financial
institutions, with very little to show, that would symbolize development in our communities and communes.


From: Gibril Koroma <gkgkoroma@gmail.com>
To: leonenet@lists.umbc.edu
Sent: Mon, November 23, 2009 10:26:03 PM
Subject: [Leonenet] nacsa

 – Tuesday 24 November 2009.

In what can only be seen as growing confidence in the economic development of Sierra Leone accelerated by sound economic management, the World Bank released $30 million dollars to the government of Sierra Leone on Thursday, November 19th, 2009.

At a signing ceremony at the eighth floor of the Bank’s Headquarters in Washington D.C. described as overt confidence by the World Bank on the fiscal policies of Sierra Leone that country’s Ambassador to the USA. H.E. Bockari K. Stevens, who is also accredited to the Bretton Woods Institution, today signed on behalf of the Sierra Leone Government, two more credit agreements with the World Bank.

The World Bank Country Programme Coordinator for West Africa, Mr. Sergiy Kulyk, signing on behalf of the Bank praised the government of President Koroma for their hard work that has been noted by the Bank. The Coordinator also praised the hard work of the Bank staff in collaboration with their counterparts in Sierra Leone which has made this event possible.

More than 25 million dollars goes to NACSA which has performed so well that it had merited an increase in financial provision. The Director noted that this increase was in recognition of the sound fiscal history of NACSA and recognition of its role, especially in areas of youth employment. More than 60,000 young people are expected to benefit from this funding agreement and at least 31,000 people will benefit directly from the “cash for work programme”, noted the Bank official.

Mr. Sergiy Kulyk finally added that the Sierra Leone government had a very impressive fiscal track record by meeting all of their World Bank economic targets.

Present at this impressive ceremony were officials of the World Bank and the Sierra Leone Embassy.

In another engagement on Wednesday, the Ambassador on the invitation of the Congressional Black Caucus, specifically by Congresswoman Barbara Lee, served as Panelist on the “Foundation’s Heritage and Ancestry Issue Forum. The Forum presented an extra-ordinary opportunity to re-connect with members of the Congressional Black Caucus. The Ambassador was peered together with Congressmen Donald Payne, Danny Davis, Congress Women Sheila Jackson Lee, Donna Christensen, Carolyn Kilpatrick, and Barbara Lee.

On the panel was also Ms. Gina Page representing a Genetic Ancestry Testing organization. This organization is one of the foremost organizations in the United States and a world leader that uses the most recent scientific instruments to determine the DNA of African Americans. The DNA is used to trace the maternal and paternal lineages of African descent. Many had their DNA pointing to Sierra Leone as their ancestral home. At the moment more than a dozen African Americans who trace their DNA to Sierra Leone have applied for Dual citizenship, Ambassador Stevens revealed.

The moderator was legendary radio presenter Joe Madison who has traced his origins genetically back to Sierra Leone.





Gibril Koroma
Editor/Publisher
www.africanmag.ca
www.thepatrioticvanguard.com
Phone: 604-308-6087
204-73 Coburg Street New Westminster, BC, V3L 2E7, Canada.
 

 

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