DANGERS BEHIND JUBA MAFIAS LOANS INCURRANCE As I write this piece, the world is being sunk and hit hard by poverty, despite huge reserves of resources; mostly the third world countries. The super powers came to acknowledge the uselessness of using arms to steer the worlds allegiance, tighten their grip on poor populaces lands, and guarantee a long term mastering of the globe. The value of the worlds resources is estimately $123 trillions, a third in the developing countries alone, and are the starving nations at this juncture. The super powers, hence, have been using another tool in slaving and exploiting the naturally rich nations, and this tool is the ECONOMIC WAR which is unvisible and obscure in nature. This war is fatally destructive than the conventional military confrontation. The leaders of rich economies lend the poor nations loans with high interest rates, interfere in loans direction and distribution internally, and fool these nations to only direct those funds/loans to found military projects instead of paying-off commercial fabrics. In the world economy, any military project is deemed as the only consuming project, as it doesnt produce and add a penny to the nominal or real gross domestic product (GDP), thus, doesnt pay back its capital or the funds with which it was founded and funded. In the end, those nations end up without paying their debts. There are always two things to dealt with upon loaning, i.e interest rates and the meant projects. Simply, an interest is a sum added to the real loan upon paying back, always determined and agreed to by the partners, and the meant projects are the projects to be funded with such a loan. Interest rate is higher when there is an urgent need; especially times of war, but less at peace times. The third worlds external DEBT is currently at a daunting number, $2.5 trillion, and the servicing of this debt equals $375 billion anually, 10 times higher than what is spent on health and education by the third world, and 20 times higher than what the developed countries give as external aids anually. The above numbers sat me motionless, and I believe, are the ailments dragging our feet on the ground in our third world . As an economics student, I am worried by how debting is high-rocketing in what has become REPUBLIC OF SOUTH SUDAN, of which we are proud of its sovereignty. Loaning is not a production, but a slow suiciding-venom; with centuries long consequences, when its management is mismanaged. Now, Juba government, with a threatening war that it has imposed on its citizens, grabs any penny it finds offered in the worlds economic mafias exchange market, without terming conditions of service i.e the way loan would be paid back and the effects of its interest rate. Unlucky are those ruled by an oligarchy, at any time, that cares not of its citizens, knowledge-devoid, short-sighted, and with a poor zeitgeist spirit in this 201st century, where education and economy are top priorities. Because South Sudan has fallen into an abyss, dug by general Salva Kiir, no wonder that the loans are highly INTERESTED, an average not less than 5% to 7%. Due to the norm, loans are constant, regardless of who incurred them, they are attributed to the country, not regimes or governments. We, the south sudanese people, are the victims in the shortrun, as we will be denied services, health, education and life necessity, because our next governments will be busy to pay back, or at least, service the interest rates, that will have accumulated into billions of dollars, by the time the tyrant, general Salva, is dethroned, or caught amidst a bloody war as TB.Joshua of Nigeria prophecied last year. All loans that Juba has been incurring since the turmoil started, are directed to buying arms, service mercenaries, bribe fellow south sudanese, and appease east african famous criminals e.g M7. Creditors, upon demanding payments, find or are told that there is no money invested, but the loans have varnished in funding non-producing military foundation, hence, what are to be paid are the interest rates, leaving the real loan unpaid for, allowing interest to double now and again. This would make lenders smile, as they deliberately aspired for this problem, and steer the internal political orientation, which leads to national succumbing to foreign demands, like low-tax investment, valuable sites control, and decision-making-control. This has been the super powers norm against African, Asian, Latin and Balkan nations since the first half of 2oth century. With the rampant corruption in South Sudan, the corporatocracy embezles these loans for personal uses too, leaving just a fraction of the sums to silence hungry SPLA generals, whose aim, too, is to accumulate wealth for their families in the diaspora. Juba should learn from Sudans loaning record, which is now $45 billions, to a 36 million population; indicating that each Sudanese owes foreigners a million.
Posted on: Sun, 28 Sep 2014 13:50:58 +0000
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