Thread: Jordan goes begging for help as Al Saud trillionaires refuse to help

Jordan begs IMF for loan after Saudi snub

Published Sunday, June 17, 2012

Jordan has entered talks with the International Monetary Fund to borrow up to $1.4 billion, Finance Minister Suleiman al-Hafez said on Saturday, to ease strained public finances in the absence of help from its richer Arab neighbors.

The request for funds comes as austerity policies are prompting street protests by citizens concerned about subsidy cuts and price hikes – a threat to stability in a kingdom that saw months of protests from early last year inspired by the "Arab Spring" uprisings.

http://english.al-akhbar.com/content...bar+English%29

$1.4 billion is less than they would spend decorating a few palaces.

It's time that Muslims retook the Islamic land of Arabia back from the corrupt false kings who pour money into weapons to kill them!

Margot a request please.
No more Al Saud PR.
I couldn't bear it today.
I'd like the thread to focus on Islamic issues and Islam teaching and Muslims and zakat rules etc

Egypt is getting 3.5 billion from the Saudis.. Yemen is getting 3.5 billion from the Saudis..


http://blogs.reuters.com/breakingvie...bill-piles-up/

Saudi’s foreign aid bill piles up
By Una GalaniMay 28, 2012

By Una Galani

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Saudi Arabia’s foreign aid bill is mounting. Egypt Jordan, Bahrain, Oman and Yemen – the Arab spring has elicited a string of pledges of loans and grants from the oil-rich kingdom to its troubled, resource-poor neighbours.

Charity is a key tenet of Islam and the kingdom is an established donor. The Saudi Fund for Development supports infrastructure projects, predominantly across the Islamic world. The Saudi central bank reported that foreign aid totalled $3.7 billion or 0.8 percent of GDP in 2010. That’s roughly in line with the United Nations’ target.

The real cost of the foreign aid bill is likely to be much higher. That now includes bilateral pledges related to unrest that will come to more than $12 billion, assuming the Saudis contribute one quarter of the $20 billion package promised by Gulf countries to Oman and Bahrain. Outsiders have little knowledge about the timing and nature of such aid; economists treat Saudi’s helping hand as an off-balance sheet item.

continued............

Originally Posted by Abu Sina

http://english.al-akhbar.com/content...bar+English%29

$1.4 billion is less than they would spend decorating a few palaces.

It's time that Muslims retook the Islamic land of Arabia back from the corrupt false kings who pour money into weapons to kill them!

Margot a request please.
No more Al Saud PR.
I couldn't bear it today.
I'd like the thread to focus on Islamic issues and Islam teaching and Muslims and zakat rules etc

The recipients are more of a worry. Aid funnelled through the International Monetary Fund typically comes with conditions – a fiscal plan that is supposed to lead to financial self-sufficiency. Even if the bilateral aid to Egypt is meant to be temporary and funds for Bahrain and Oman are designed to boost vital capital spending, Saudi’s largesse could easily encourage poor fiscal discipline and, in turn, greater financial dependence.

With the kingdom’s ambitious desire to create a Gulf Union strongly opposed to Iran, Saudi could find that its mounting foreign largesse becomes tomorrow’s permanent liabilities.

Last year, Jordan's subsidy-heavy economy was kept afloat by a $1.4 billion cash injection from Saudi Arabia, a powerful ally concerned about the uprisings around the region.

There was no similar pledge of Saudi support this year, and some officials say that was what prompted the move to seek IMF assistance.

Over the last decade, successive governments have adopted expansionist policies characterised by sizable state subsidies and salary increases. A further strain on public funds was caused when new state jobs were created in an already bloated public sector last year to head off greater unrest.

http://english.al-akhbar.com/content...bar+English%29

Economists says Jordan's ability to maintain a big subsidy system - which currently costs over $3 billion annually - and a large state bureaucracy, whose salaries consume the bulk of the $9.6 billion of state expenditure, was increasingly untenable in the absence of large foreign capital inflows or infusions of foreign aid.

I said this was from an Islamic point of view thread Margot!

Do you need new glasses or do you have difficulty understanding my English?

1.4 billion is nothing to the trillionaires

Originally Posted by Abu Sina

I said this was from an Islamic point of view thread Margot!

Do you need new glasses or do you have difficulty understanding my English?

1.4 billion is nothing to the trillionaires

Trillionaires? LOLOLOL

You Egyptians are a riot.

so back to topic

Saudi princes refuse to help

Is this what Islam teaches?

Originally Posted by Abu Sina

so back to topic

Saudi princes refuse to help

Is this what Islam teaches?

They are helping.. they are helping Egypt, Yemen, Bahrain and Lebanon.. They are also sending food aid to Somalia and Sudan.

What are YOU doing?

Originally Posted by Abu Sina

so back to topic

Saudi princes refuse to help

Is this what Islam teaches?

Notwithstanding the Kurt phraseology from both sides... Jordan is going to crumble from the inside (as it is rotten) and Abdulla el tani will have to use his moneys stashed in London and Switzerland to keep his title afloat for a little while more