Debt, Samoa and foreign investors
Re: Parliament passes budget
Samoa has finally put things in perspective and realized that a well run govt. with objectivity in creating a fiscal responsible budget is the only way that can free itself from easy credit lending of the Worlds Bank and its affiliates.
These banking institutions are slave masters of poor countries with their intention of getting their returns no matter what.
If the terms and conditions meant that these poor countries will mortgage their land to secure these loans, they will do it. They will never go empty handed when the loans are defaulted.
Since Samoa is an emerging market, its prime for these investors to make a killing at it. If Mr.PM and his party will pay of all these loans and become debt free, his legacy will be remembered for all generations to come.
Let’s be smart and pay these loans off and reclaim our dominion our sovereignty from these banks.