Financial Times - August 5, 2005
The World Bank could signal as early as today that it is in effect suspending $400m in loans to Ecuador, in response to the country's restructuring of an oil stabilisation fund. ************* My comment: It is explained in the article that this "oil stabilisation fund" is in effect a way of transferring more of Ecuador's oil wealth back to the people who live in Ecuador and away from feeding the bond ghouls who work through the World Bank, headed by Shrub's neo-con, appointee, Herr Wolfy. Herr Wolfy does not like this trend and wishes to discourage this way of spending Ecuador's wealth. So, no loan for "use guys", until yaz clean up your act and make right-wing, pro-dominant finace capitalist decisions.
NB: (the World Bank is a non-political institution, only looking after the welfare of the worlds' less developed nations.)
***************
The bank has made no official response, but is preparing a reply to a letter sent this week by Rafael Correa, Ecuador's finance minister, to Paul Wolfowitz, head of the bank, asking why Mr Correa was left empty-handed last week in Washington, where he had expected to receive a $100m (¤81m, £56m) loan as part of the bank's fiscal support programme for Ecuador.
Financial Times - August 6, 2005
Ecuador's finance minister has been forced out of office after a dispute with the country's president over a $300m (£168.7m, ¤242.5m) loan from Venezuela. ************** My comment: NB: Venezuela is a very bad country now, because its political leadership is doing irresponsible things with the country's oil wealth.
It is attempting to funnel more wealth into services which will help the poor--but "Hah!" to that. As any good Christian rightist knows, "The poor will always be with us.." so, what the heck can be in the heads of these Venezuelan "dictators" other than perhaps they have too much time on their hands and the devil is making them do the wrong things. I've heard from people on the LOBster list (bunch of reds and pinkos) that the funny looking guy who got elected by an obviously duped public, actually listens to Fidel Castro when he speaks!
*************** ...Mr Correa's supposed support for terminating a contract between Petroecuador, the state oil company, and Occidental of the US, which some in the administration accuse of having violated its exploration and export contract. *************** My comment: And Occi is such a progressive oil corporation. Why the guy who used to head it up was one of Lenin's pals. Stalin liked the guy too. So, what's with these naive leftos, like Correa. Listen up, liberals! He must be curbed. He has no experience in politics and has only been a professor. He is not being realistic!
**************
Recent polls suggest the left-leaning Mr Correa is much more popular than the president.
************************* My comment:
Oh my-lanta...the guy is only a heartbeat away from tearing Ecuador out of our beloved Monroe Doctrine!
BTW, isn't Correa, one of those names I've seen associated with witchcraft?
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...Mr Correa developed a reputation during his three months in office as an outspoken critic of multilateral lenders, Washington and foreign investors. ******************
Ingrates!!!! Our Shrub, who art in Washing-tonne, should tell 'em about Grenada. Bet that would wake 'um up.
Best, Mike B)
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