Why won’t Mahathir go to the IMF for money?
And that is why every day you hear Lim Guan Eng announce one bad news after another. They need this bad news to explain why Pakatan Harapan cannot deliver its election promises and to blame Najib for Pakatan Harapan not being able to deliver its election promises.
NO HOLDS BARRED
Raja Petra Kamarudin
Why is Mahathir running to Japan and China for money instead of to the IMF?
A country in severe financial trouble, unable to pay its international bills, poses potential problems for the stability of the international financial system, which the IMF was created to protect. Any member country, whether rich, middle-income, or poor, can turn to the IMF for financing if it has a balance of payments need—that is, if it cannot find sufficient financing on affordable terms in the capital markets to make its international payments and maintain a safe level of reserves.
IMF loans are meant to help member countries tackle balance of payments problems, stabilize their economies, and restore sustainable economic growth. This crisis resolution role is at the core of IMF lending. At the same time, the global financial crisis has highlighted the need for effective global financial safety nets to help countries cope with adverse shocks. A key objective of recent lending reforms has therefore been to complement the traditional crisis resolution role of the IMF with more effective tools for crisis prevention.
The IMF is not a development bank and, unlike the World Bank and other development agencies, it does not finance projects.
That is what the IMF said on its website. So why does Tun Dr Mahathir Mohamad not go running to the IMF to borrow money since Malaysia is on the verge of bankruptcy and the country cannot pay its debts because Najib Tun Razak has brought the country to the brink of financial ruin? Why go running to Japan and China instead?
If Mahathir takes money from the IMF, Malaysia will be forced to reform and Mahathir’s cronies will no longer be able to rob the country
The truth is Malaysia is not on the verge of bankruptcy and Najib did not bring the country to the brink of financial ruin. All that is merely a spin to give an impression that Najib has almost destroyed Malaysia and if Pakatan Harapan had not taken over the federal government on 10th May 2018 by today the country would be in ruins.
The strategy is simple. As soon as they took over on 10th May 2018, they announced as much bad news as possible. 1MDB lost RM42 billion. RM19 billion GST funds are missing. RM16 billion tax refunds are missing. The ECRL is going to cost RM20-30 billion more to build. China cheated Malaysia by overcharging on all the projects they are contracting (plus they collaborated with Najib to launder stolen money from 1MDB). And so on and so forth.
So, because of all this bad news, Malaysians start preparing themselves for the worst.
Then, a year or so later, they will announce the good news. Pakatan Harapan has managed to save Malaysia. All the problems have been solved. The stolen money has been recovered. The cost of the projects has been reduced and billions has been saved. The RM42 billion a year GST collection has been replaced with the RM21 billion a year SST collection, saving Malaysians 50% in tax payments and allowing Malaysians more spending money.
So, all this bad news over the last 100 days was just part of the drama. It is a shock and awe exercise so that later the good news can excite Malaysians who had expected doomsday. Once the good news start coming out, Malaysians will breathe a sigh of relief that they had changed governments on 9th May 2018 and that this wise decision managed to save Malaysia from doomsday. Pakatan Harapan had done a fantastic job of saving Malaysia, and if Mahathir had not taken over and Najib had not been kicked out, today Malaysia would no longer exist.
Guan Eng fabricates tons of bad news and announces this bad news every day so that later they can announce the good news and give an impression that Pakatan Harapan has saved Malaysia
And that is why every day you hear Lim Guan Eng announce one bad news after another. They need this bad news to explain why Pakatan Harapan cannot deliver its election promises and to blame Najib for Pakatan Harapan not being able to deliver its election promises.
Highway toll charges cannot be abolished. The gas pipeline and railway projects need to be cancelled. Terengganu, Kelantan, Sabah and Sarawak cannot be given 20% oil royalty. The cost of living cannot come down even after abolishing the GST. The cost of living increases even further after implementing the SST. Corruption and abuse of power is still rampant and cannot be eliminated. Malaysia’s debts are continuing to go up even after cancelling all the China projects. Absolute democracy and freedom of speech still cannot be allowed due to certain racial and religious sensitivities. LGBT rights cannot be considered because Malaysia is an Islamic country. Shariah laws and Sharia courts cannot be abolished because Malaysia is an Islamic country. Conversion from Islam to other religions cannot be allowed because Malaysia is an Islamic country.
And this is all because of Najib and Najib has to be blamed for it.
All this bad news helps explain why Pakatan Harapan cannot deliver its election promises and then blame Najib for it
Mahathir went running to Japan to try to borrow money but he came home empty. Mahathir then ran to China to try to borrow US$40 billion but China, too, sent him home with nothing.
In 2004, the Chinese government extended a soft loan to Angola in return for which Angola gave Beijing oil exploration opportunities in the country. If Mahathir also wants a soft loan from China what is Malaysia going to give China in return? You need to offer China something to get a US$40 billion soft loan.
Instead, Mahathir insulted China and called them crooks. He then warned China not to try to colonise other countries. And when Mahathir said ‘colonise’, he did not mean militarily like back in the 1960s but the ‘modern’ way of economic colonisation. In other words, Mahathir told China not to try to use their wealth to dominate other countries. And in his speech to Malaysians in China he called the Chinese loan-sharks (ah long).
Mahathir wanted US$40 billion and China told him to go screw himself
Mahathir still thinks he is ahead of the game. Maybe so 30 years ago back in the 1980s. But today Mahathir sudah ketinggalan zaman. Maybe Mahathir can fool the Chinese school DAP supporters who still wear blinkers. They will believe anything you tell them, which is why DAP-Pakatan Harapan garnered 98% of the Chinese votes.
But only 30% of the Malays voted for Pakatan Harapan. 70% voted for Umno and PAS. And that is because race and religion are more important to these Malays than money, like for those Chinese and Pakatan Harapan supporters. When you speak to the Chinese and Pakatan Harapan supporters they only talk about money. And Pakatan Harapan won GE14 on the promise of money, money and more money, which was why they used the GST and 1MDB issues to swing votes, because it all involves money.
WHAT THE WORLD BANK AND IMF SAY ABOUT MALAYSIA
