Kerala Government and ADB Loan -- MALAYALEES

[ Show ]

Support VoyForums

[ Shrink ]

VoyForums Announcement: Programming and providing support for this service has been a labor of love since 1997. We are one of the few services online who values our users' privacy, and have never sold your information. We have even fought hard to defend your privacy in legal cases; however, we've done it with almost no financial support -- paying out of pocket to continue providing the service. Due to the issues imposed on us by advertisers, we also stopped hosting most ads on the forums many years ago. We hope you appreciate our efforts.

Show your support by donating any amount. (Note: We are still technically a for-profit company, so your contribution is not tax-deductible.) PayPal Acct: Feedback:

Donate to VoyForums (PayPal):

[ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time ]

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: 08:21:41 12/26/02 Thu
Author: John John
Subject: Kerala Government and ADB Loan

Many of us have heard of ADB Loan that Kerala Government is going to take soon. Our Chief Minister is giving pseudo promises that within few years our land will be one of the world's best place to live. Did anyone of us thought of the our side of the story.

Kerala's political and social atmosphere is not suitable for borrowig. Since we have not yetlearned discipline and austerity, borrowing will end-up in poverty.

The Asia Development Bank is a for-profit bank that makes it money by making loans to some of the poorest countries in the world. Countries' resources like labour power and raw materials are colleteral for loan. It finds infra-structure like dams and and communication systems that benefit the capilalists and impoverish the poor.

The more money a country contributes, the more control it has in the ADB. The US and Japan are key players in the Bank.The US and Japan control 32% of the voting power of the ADB. So they indirectly control the country. The ADB is based in Manila and has 60 member countries. The ADB
loan is with the aim of opening up the whole region to imperialist penetration and control.

Kerala is ours and that is not belong to ADB. The ADB will cast a long shadow in people's life. Handing over of Government assets to private parties and opening door for international companies to will ruin the country. Westerners do not want to transfer technology or education that we need. They will fragment our corporations. Let our Kerala Government consult with Madhya Pradesh, Russia, Thailand and Ethiopia Governments on what benefit they got from borrowing.

Understand that ruling parties and administrators are just agents of this Bank. The Bank or westerners have no heart. Think of Union Carbide settlement of Bhopal tragedy. They don't care what happened to you. Finally what we are going to get is "DESTRUCTIVE ENRON" like corporations.

What will happen to the loan is borrowers will fail to repay on time and that will creat a mess and finally ruin the economy. "The effect of ADB loan and their conditions will make the poor poorer". The condition of the loan will put a severe burden on poor people. The free access to
land for foreigners, permission for multi-national corporation to use our resources, new policies
arising from loan condition would cause public hardship. Privatization of government hospitals and universities are a long term policy of the ADB.

Even prospering country like China is stumbling on the loan problem. Our banks are infamous for favouritism and finally the loan will end up in wrong hand. A misstep by banks will make it impossible to get back the money.

Readers, please send your comments on ADB loan and the future of Kerala State. Do you think this loan will make our land prosperous?????

[ Next Thread | Previous Thread | Next Message | Previous Message ]