Developing countries have a small middle class and some wealthy people who have savings.
Unfortunately, these savings are channel to the developed countries, and come back to the developing countries in the form of loans in hard currencies at high interest rates.
Developing countries should find a new mechanism to mobilize their domestic savings, instead of relying on international institutions as the middlemen.
5 comments:
The greyest area in this country. Does the land belong to the people of Singapore, the government or Singapore Land Authority? If homes are needed to build for Singaporeans, why should the land be paid for? Clearly, this is money abuse HDB is losing money and public flats are subsidized? Depending on who you are talking to HDB is putting the blame on SLA for putting up the price of the land and they are losing more money? Who is the winner at the end of it all?
Accounting is different ways to skin a cat.
This is called the same trousers, different pockets?
Have you ever wondered that it is the government's responsibility to provide affordable housing for the masses or sell land like it is running a business??
Godly question. If HDB has to pay SLA Billions...They claim they lose money? If the land price was not in the equation...Did they really lose money? Both answers could be correct. If anyone is the government...it would be legit to tell the people the government had sacrificed money to give the people BTOS. Who would be so stupid to say they are making money from land sales?
🤣. Don't sue hoh.
The betrayal was from the beginning all we heard was HDB losing money to making the people feel guilty that we were the cause of them losing money.
Thanks to some eagle-eyed and sharp-minded to pointing out that it wasn't the people who are responsible for HDB to lose money but SLA.
It took parliament and opposition parties to exert the truth, after excuses and more excuses they had to come out and give a breakdown of the cost of HDB flats because they knew people are not trusting them and that they had things to hide.
After this incident, my trust in and despise for them grew bigger. And now people see, people, follow. The reason why this country has got an attitude they will do anything for money. Greed begets greed. Dog eat dog. This is the kind of society we are breeding.
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