JOHANNESBURG —
The International Monetary Fund says it has approved a three-year loan of about $3.7 billion for Angola, which seeks to diversify its economy and curb corruption after a new president took office last year.
The IMF said Friday that the loan aims to help the southern African country restructure state-owned enterprises and take other measures to improve economic governance.
IMF Approves $3.7 Billion Loan for Oil-rich Angola
Angola is now screwed.
If that is true, why are they the ones seeking the loan?
This is what is so bonkers to me about the left-wing ideology in relation to banks and such.
If you don't want to be in debt..... don't borrow the money. No one is forcing you to charge up your credit card. No one is forcing Angola to take a loan. In fact, no one has even pushed them to get the loan. Angola itself is seeking the loan.
If they are doomed to destruction for taking the loan.... why are they asking for it?
I just never understand this mindless position of people running around screaming about loans, when not a single one of them has a gun to their head forcing them to take a loan.
Over a decade ago, I determine I would never borrow money again. I have zero loans. No credit cards. No mortgage. No car loan. No payments on a smart phone. I owe no one anywhere, anything.
It's a lifestyle choice. Stop blaming everyone else for your choices.
Shut up and sit down.
The IMF offers money. The country takes it. The IMF then tells them to restructure the government. There is a lengthy track record of watching this go down.
I am well aware that the IMF has requirements on taking loans.
That doesn't change the fact that countries go to the IMF asking for money. Not the other way around.
Additionally, if they refuse to get a loan to begin with, most of these countries would default. Greece was on the verge of default, before they went to the IMF. That is in fact, why they went to the IMF.
And of course they want reforms in the system, in order to get the loans. If your system was working at all... you wouldn't be asking for a bailout to begin with. Obviously if you need a loan from the IMF, then your system sucks, and it needs to change.
If my brother in law was a drunk, and asking me for money to pay the mortgage and save his house, I'm not just giving him the money. I'm requirement him to join a 12-step, and get a second job. If he doesn't do that, then he doesn't get the money. I'm not flushing my hard earned cash down the drain without him changing how he lives.
