Johnny Canuck2 said:I think the effect on the developed nations of forgiving that debt would be minimal compared to the good it would do for africa; provided there was a way to prevent the leaders there from just stealing the future income.
Sound good.
I wonder were all the interrest payments went anyways.
And why do i feel rich east coast liberals with three names like harry dexster white are involved, and living good.
Lets look at the fact, the IMF was started by rich commies, and the press gives them almost a total pass...............
That can only mean one thing.
Liberals are getting richer.
Looks like theworld bank sells regulare tax free bonds, to individuals.
Old money liberals love these things,as they produce a lot of tax free income.
The International Bank for Reconstruction and Development was founded in 1946 as a way to finance reconstruction projects in war-ravaged countries despite their poor creditworthiness. The IBRD gets its money from regular subscriptions paid by member governments and by borrowing money on international markets (through selling World Bank bonds).
http://www.50years.org/factsheets/structure.html