NewStats: 3,259,241 , 8,169,579 topics. Date: Saturday, 24 May 2025 at 01:00 PM 5t4y18

megyucyautos:
us via WhatsApp quote author=abu99err post=133764448]Where is your Location?

I have messaged you on WhatsApp

Where is your Location?

What's your location?

Kobojunkie:
World Bank/IMF is not responsible for creating the many problems fueled majorly by [/b]corruption, blatant incompetence, and a general lack of concern for the welfare of the people[b] that has been wrought by this istration. It is as simple as that. 🤔

These rants against the IMF/World Bank are the usual distractions that have become the mainstay in Nigeria, and much of the dysfunctional/underdeveloped world ruled majorly by kakistocrats.

I agree with bolded; Corruption, Incompetence and lack of concern for the Country is a very big issue in Nigeria........ Now, if you and me agree that the country is very corrupt why is the IMF/world bank giving conditional(removal of subsidies) loans to Nigeria?

I mean, @kobo you must also ask yourself why IMF/world bank keeps giving Conditional loans to "[/b]dysfunctional/underdeveloped world ruled majorly by kakistocrats"[b]

Look, the removal of subsidies will naturally bring about inflation, unemployment, crime, general hardship and the Economy will be affected badly.

Why does the IMF/world bank usually insist on subsidy removal before loans are given to [/b]"dysfunctional/underdeveloped world ruled majorly by kakistocrats"[b]

Kobojunkie:
Again, Here's a better question. Are you under some deluded notion that because I am a Nigerian and only Nairaland I must then channel the same brainwash that the majority of Nigerians are notorious for?🤔

My primary interest is in the topic and not your private issues. 🤔

Well, obviously you will not respond to my question and have decided to employ gaslighting methods....... It's okay.

Let us talk about your "primary interest" then......

[/b]Oh boy! This istration is dead set on blaming it all on the World Bank, IMF, or even the West. Nigeria is truly in deep shitee but worse the people will still bite down on every single one of the many lies. 😩😩😩😩😩😩[b]

1. How did the istration blame the world bank?
2. Is the Professor speaking for the government or advising the government against the policy of the IMF and World bank?
3. Why do you believe that the Professor, Nigerians and other people that has accused the IMF and world bank are brainwashed?

Kobojunkie:
Here's a better question. Are you under some deluded notion that because I am a Nigerian and only Nairaland I must then channel the same brainwash that the majority Nigerians are notorious for?

Are you are Nigerian or not?? If you claim to be Nigerian then which part of Nigeria are you from?...

1. You exude this funny and false sense of superiority in most your replies in Nairaland
2. You also display a lot of wokeism in your write ups.
3. You employ gaslighting methods a lot also.
4. You don't have to say it out loud but you see the African/Nigerian man as inferior hence your false sense of superiority.
5. Basically something is off about you and I doubt your Nigerianess

MadPolitician:


Don't mind that gal.
She has been running around the forum defending the world bank, IMF and the West. Looks like she is on a contract to do so here

Thank you for this post, I thought I was the only one noticing @Kobo activities on this forum...... I don't think he/her is even a Nigerian, the mentality and Worldview is not Nigerian or even African

Joshcoli:
Below are examples:

1. Zambia
IMF and World Bank Policies: Implemented SAPs in the 1980s, including currency devaluation, removal of subsidies, and privatization.
Outcome: Economic stagnation, rising poverty, and significant social unrest followed. The reliance on copper exports exacerbated the crisis as global prices fell.

2. Argentina
IMF and World Bank Policies: Adopted neoliberal reforms in the 1990s, including currency pegging, privatization, and austerity.
Outcome: The policies led to a massive economic collapse in 2001–2002, with high unemployment, widespread poverty, and the government defaulting on debt.

3. Greece
IMF and European Central Bank Policies: Imposed austerity measures during the 2010 debt crisis as part of bailout agreements.
Outcome: Severe recession, high unemployment, and public protests. GDP shrank significantly, and the debt burden increased as a percentage of GDP.

4. Jamaica
IMF and World Bank Policies: Adopted SAPs in the 1980s, including devaluation, trade liberalization, and public spending cuts.
Outcome: Economic stagnation, growing debt, and increased inequality. Social services were severely affected, worsening poverty levels.

5. Indonesia
IMF Policies: During the 1997 Asian Financial Crisis, the IMF mandated austerity, removal of subsidies, and liberalization.
Outcome: The policies deepened the economic crisis, causing mass unemployment, inflation, and widespread poverty.

6. Kenya
IMF and World Bank Policies: Adopted SAPs in the 1980s and 1990s, focusing on privatization and reducing public spending.
Outcome: Economic instability, reduced access to healthcare and education, and increased poverty.

7. Ecuador
IMF Policies: Enacted austerity and liberalization in the late 1990s as part of IMF agreements.
Outcome: Banking sector collapsed, unemployment soared, and millions emigrated due to economic hardship.
Similarities to Nigeria:

Policy Elements: Many of these countries, like Nigeria, experienced forced currency devaluation, subsidy removals, and privatization under IMF and World Bank guidance.
Outcomes: Economic instability, increased poverty, and public dissatisfaction often followed.

Lessons:
Structural Challenges: IMF/World Bank policies often fail to for local economic conditions.
Over-Reliance on Exports: Many countries depended on a narrow range of exports (e.g., oil for Nigeria, copper for Zambia).
Social Impact: Austerity measures disproportionately affect vulnerable populations, reducing access to essential services.

@kobo will disagree with you and blame all the countries you just mentioned........ Tell him about "the confession of An Economic Hitman" he will dismiss it and call it conspiracy theories.

Kobojunkie:
Oh boy! This istration is dead set on blaming it all on the World Bank, IMF, or even the West. Nigeria is truly in deep shitee but worse the people will still bite down on every single one of the many lies. 😩😩😩😩😩😩

@Kobo can you clarify somethings?

1. Are you a Nigerian?
2. Which part of Nigeria are you from?
3. Are you a "Western plant" in Nairaland? Because I have been observing you for a while and your activities here is very questionable

All the achievements are sooo great that it cannot been seen or felt by Nigerians but it had to be read to them ehn?

The International Monetary Fund (IMF) and the World Bank have faced criticism for their lending practices, particularly when it comes to countries plagued by corruption. Some argue that these institutions are aware of the potential outcomes when lending to such countries and that their actions may even be driven by a desire to trap these nations in debt.

The IMF's primary goal is to promote global macroeconomic and financial stability, while the World Bank focuses on long-term economic development and poverty reduction ¹. However, their methods have been questioned, especially when dealing with countries struggling with corruption.

*Lending Practices Under Scrutiny*

Critics point out that the IMF and World Bank's lending practices can sometimes exacerbate the debt burden of already vulnerable countries. This can lead to a cycle of debt dependency, making it challenging for these nations to achieve economic stability and independence.

*Collaboration and ability*

It's essential to note that the IMF and World Bank have mechanisms in place to ensure ability and cooperation. For instance, they collaborate on country assistance and policy issues, and their staff work together to identify potential development projects or reforms ¹. However, the effectiveness of these measures in preventing debt traps is still debated.

*Addressing Corruption Concerns*

To address concerns around corruption, the IMF and World Bank have implemented various initiatives. These include the Financial Sector Assessment Program (FSAP) and the Heavily Indebted Poor Countries (HIPC) Initiative ¹. While these efforts aim to promote financial stability and reduce debt burdens, critics argue that more needs to be done to address the root causes of corruption.

Ultimately, the IMF and World Bank's lending practices and their impact on corruption-ridden countries are complex issues requiring nuanced solutions.

Kobojunkie:
The only reason why the Nigerian government REFUSES to implement and sustain these reforms is one thing and one thing only... corruption.

► Implementing transparency from top to bottom as suggested would greatly expose the corruption in the system and these criminals you have in government are not going to allow that. They do not want that and so it is in their best interest to keep gullible Nigerians blindly believing the World Bank and IMF does not want anything good for them.
► Putting in place Safety Net programs like what is found out in Western countries, will greatly reduce the share of the loot that your criminal politicians are used to making away with. They would rather send you news of sharing rice to keep Nigerians chasing after shadows than have a fully functional welfare system that caters to the poor and sick in society.
►Fully privatizing state-owned companies will greatly reduce avenues for looting in the system and these politicians would rather have a hold on companies than completely release them to the hands of those in the private sector who have been proven better able to handle and run them.
► Removing fuel subsidies and diverting the funds to the Safety Net Programs and maybe also ing local industries is another reform suggested. But these people are thieves. Nigeria claims to have removed fuel subsidy yet there is nothing to show for the claim since the announcement was made back in May 2023. Instead, even with the reduced buying power of the average Nigerian, the country claims that the average daily consumption of PMS has increased right after the announcement, and the amount paid for subsidy ballooned to over 3 times the cost before this istration. ...

The list goes on. But see... why your criminal politicians are responsible for all — not some— of the hardship in that country and should be removed and punished to the very last?

You seem not to understand me, I am not making excuses for the Government and I am not putting the blame of our current disaster on the IMF or World Bank, I am just pointing out that I believe they are taking advantage of our situation to put us into even more Debt-Trap.

Ask yourself this, if you and I with the limited knowledge that we have can deduce the likely outcome of these so called Reforms by this Government and that whatever benefits that comes out from the Reforms will likely not be properly managed because of our endemic Corruption then what excuse does these Organisations have?

They are recently acting as if they have so much faith in this Government saying that we should sustain the the Reforms for the next 15 years, when we all know the likely outcome that Corruption is endemic and it's not going away anytime soon.

https://en.m.wikipedia.org/wiki/Confessions_of_an_Economic_Hit_Man

Have you read about the confession of the Economic Hitman before??

Kobojunkie:
Dude, the fact that you have been ignorantly arguing all of this while without clear understanding of the reforms we are talking of up until now is more than enough reason not to even respond to you anymore. I would rather go argue with a wall at this point, abeg!

Even China which many of you love to love implemented many of the exact same reforms, by the way.

Fine you win........ But do you in all honesty see Nigeria pulling this off

Kobojunkie:
I hate the way you people think it makes sense for you to argue from a point of complete ignorance.

please kindly help clarify it for me, this thread is about what exactly?

Kobojunkie:
Stop lying in a desperately bid to hold on to ideas that defy common-sense itself!

Singapore is a notable example of a country that implemented and succeeded in many of the same reforms that the IMF is still today suggesting to Nigeria.

kindly share any verifiable links to back up your claim please

Kobojunkie:
Removed what subsidies on fuel?
https://www.bloomberg.com/news/articles/2024-09-23/dangote-says-time-for-nigeria-to-end-fuel-subsidy-boost-naira

According to CBN, the reason the Naira was devalued was to collapse multiple Fx windows into one. But to this day, Nigeria still operates multiple Fx Windows.

So which policies does the World Bank want us to sustain for the next 15 years?

@kobojunkie and @Tianamen1 I will agree with you that it is not smart to blame these organisation for our stupidity and falling for Thier tricks, we should blame ourselves for whatever happens......... But we should be able to acknowledge that these organisations don't really expect us as a country to pull this off, no country in this world has been able to implement their policies fully and I honestly doubt that Nigeria will succeed in doing it, everything been equal a new Government will probably reverse some of the policies because the suffering will be too much for the people

Tianamen1:

Nigeria, between 2004 and 2007. in fact, through to 2009.

Did we remove subsidies on fuel and float the Naira?

Because this whole thing is beginning to feel like "Confessions of an Economic Hitman" to me

Please can anyone point me to any country in this world that has been able to implement IMF and World Bank Reforms completely and became and Economical power house? @Kobojunkie can you assist with this please

May his soul rest in peace,

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doctore212:
I don't know what I will do with out better olosho .


Can u imagine my money finished yesterday for olosho house in Ketu and one babe gave me knacks on credit.

Whenever I get salary I will pay her back.

World without olosho is meaningless

2.3m

2.4

Is this still available?

osuofia2:
so how those fraudulent people thinking of disowning their parent will apply and succeed.
But the time of application is too short. 29th to 2nd.aaaa

[/quote]p[quote author=meobizy post=106878506]Let her release her own and stop

making noise.

I need the screen for Umidigi one..... we're can I I get it

I can confidently tell you that if anyone will die of Chloroquine overdose in this country it will not be Edos, Edos are very reasonable people.