” A former director of the International Monetary Fund before the justice Switzerland.” titled the article published in the Swiss newspaper Les Temps, Wednesday, November 2, 2011 .
Les Temps is speaking about Jacques De Groote , former Executive Director of the IMF (1973-1994) and World Bank (1975-1991) Belgian nationality arrested in July 2011 by the Swiss authorities and appeared at the Federal Criminal Court in Bellinzona.
He is indicted of aggravated money laundering and financial fraud. Along with De Groote end up in court Cmejla Marek , Jiri Divis , Antonin Koláček , Oldrich Klimecky and Petr Kraus, all of Czech nationality.
According to the authorities the defendants had created a criminal gang orchestrating between 1997 and 2002 misappropriation of funds damaging the most important Czech energy company : the Mostecká Uhelná Spoleznots ( MUS ) active in the mining and trading of coal. Misappropriation of funds was intended to gain control of the company in anticipation of its privatization.
As a first measure, the judicial authorities shall order the freezing of 660 million Swiss francs ( 539.8 million euro). The arrest was preceded by six years of painstaking investigations conducted by three Federal judges who have discovered the network of offshore companies in Fribourg , Liechtenstein and Cyprus where were deposited the stolen funds .
The trial, which began May 13, 2013 has ended October 10, 2013 .
During the investigations , and the process is established the dynamics of Machiavellian scam. The World Bank and the International Monetary Fund forced the Czech Republic a process of privatization similar to those imposed on the majority of the countries of the Soviet Bloc during the period that Jacques De Groote was the Executive Director of both International Institutes.
One year before the end of his term De Groote became president of the Swiss company ” Appian Group” , based in Fribourg and specializes in investments in privatized companies in Central and Eastern Europe, in particular in the Czech Republic.
In a few months the Appian Group became the largest and most powerful financial company in the Czech Republic. In addition to controlling the mines of MUS , it bought the company Skoda automobile and other former state-owned companies , employing 15,000 people.
Thanks to the influence of the World Bank and the IMF Jacques De Groote and his cronies were able to buy companies thanks to an underestimation of the cost damaging the Czech State.
During their management they pocketed 600 million Swiss Francs , which were recycled in bank accounts in Switzerland, Liechtenstein and Cyprus. The operation was discovered thanks to a report from the Director of a Swiss company : Alain Aboudaram submitted to the judicial authorities in 2004.
A classic example of the intrigues of high finance that permit by the few world elite to maintain power at the expense of the majority of the world population .
Unfortunately, the MUS case is just the tip of the iceberg of the subversive activities of Jacques De Groote , closely linked with two African countries : Zaire (now the Democratic Republic of Congo) and Rwanda.
The career of Jacques De Groote began in May 1963 when he was hired at the Department of International Relations of the National Bank of Belgium.
In the early sixties the King Baudouin was losing its most valuable colony : the Congo. On 30 June 1960, a young negro Prime Minister Patrice Lumumba clarified at the ceremony of transfer of power , presided over by the King Baudouin , that the independence of Belgium was not a gift but forced act to avoid a independence war that would be lost by the former colonial power. Also made it clear that from now the relations between the two countries would be equal.
A few months later Sergeant Joseph Mobutu became Minister of Defense and jailed Patrice Lumumba that was assassinated in January 1961 in the Katanga province by two Belgian intelligence agents in accordance with the CIA.
On November 24, 1965 Mobutu seized power deposing President Joseph Kasa – Vubu and ushering in one of the most brutal dictatorships that Africa has ever known. Kasa – Vubu was placed under house arrest in Bomo , Central Congo where you die in mysterious circumstances in 1969.
Between March 1966 and May 1969 Jacques De Groote became the economic adviser to the government of Mobutu and financial adviser at the National Bank of Congo.
De Groote convinced the dictator Mobutu to recognize as the national external debt financing provided by Belgium in the country during the colonial period in violation of international law, retify by United Nations against the odious loans .
” When a government contracted debts due to investments made by a foreign power during the period of colonial occupation , these debts are to be considered odious debts . The victim country and its population does not have any obligation to honor these debts. ”
Thanks to the work of De Groote Congo to Belgium immediately repaid $ 120 million in accessing a loan from the World Bank.
From 1973 to 1994 , Jacques De Groote became the Executive Director of the Global Fund International and the World Bank .
During this period De Groote actively supported the Mobutu regime intervening several times to re-establish the relationship between the Zaire , the IMF and the World Bank , despite the documented human rights violations in the country omitted .
While agreeing on the need to investigate the role played by Jacques De Groote during the Mobutu regime, this interesting topic is not the subject of the investigation.
Jacques De Groote and Rwanda
The eminence grise of the Great Global Finance is directly responsible for the causes that led to the genocide in Rwanda in 1994.
As shown by the careful investigations of journalists and Béatrice Delvaux Colette Braeckman , both working for the newspaper Le Soir , Jacques De Groote was the author of the devaluation of the Rwandan franc in 1991.
In January 1991, the Executive Director of the IMF and World Bank De Groote was a partner from Géomines owned by the Baron Van Den Branden. The Géomines owned 51 % of the Somirwa , the main state mining company of Rwanda , in fact personal property of the President Juvenal Habyarimana .
The Somirwa , torn apart by corruption and embezzlement through Géomines, asked Importane a World Bank loan of U.S. $ 4 million . De Groote became the main supporter of the request submitted by the Rwandan Government having identified an excellent speculative opportunity.
Proposing the devaluation of the national currency De Groote assured the World Bank an increase in the loan agreement and simultaneously he increased competitiveness on the international markets of the minerals exported from Somirwa . Thanks to De Groote the company obtained the loan in spite of the Rwandan state that does not respond to any criteria established by the World Bank to grant loans to such entities.
Jacques De Groote another speculation effected by persuading the World Bank to address Nagelmaekers at the Bank for the settlement of the loan, which De Groote had significant corporate actions .
This colossal conflict of interest was tolerated by the World Bank and the Government of Rwanda because of the immense services rendered by Jacques De Groote on both sides.
In the eighties , when the foreign debt exploded in several African countries , Rwanda and Burundi were among the few countries with a very low percentage of debt. Thanks to the work of De Groote World Bank and International Monetary Fund doesn’t adopt for Rwanda the policy of economic austerity and interruption of the loans carried to other African states.
Between 1976 and 1994, the Rwandan foreign debt increased by twenty times. From the $ 49 million in 1976 it came to 1 billion in 1994. The 84% debt had been contracted by the World Bank and the IMF.
The mountain of loans ended up mostly in private accounts Habyariamana of the dictator and his family. What remained was used to finance the army and the genocidal militias.
Failure to use the loan to strengthen the export of coffee and tea, combined with the collapse of the prices of these two products, created a shortage of hard currency at the Bank of Rwanda and a terrible economic crisis.
The devaluation of the Rwandan franc increasing the prices of imported consumer goods. The financial situation of financial crack led the government to no longer be able to guarantee the regular payment of salaries in public administration . Thousands of farmers concentrated in the production of coffee and tea failed and unemployment rose alarmingly.
The government raised taxes to pay the interest on loans taken . At the same time decreased the tax burden to French and Belgian corporations.
Between 1990 and 1994, Jacques De Groote oversaw various investigations of the impact of loans to Rwanda under pressure of the international community concerned about the situation in the country. Each survey was cleverly manipulated to assure that the loans were used properly.
According to reports , Rwanda crisis was due to international economic situation and to financial effort that the Rwandan government was forced to incur to finance the war against the rebellion of the Tutsi Rwandan Patriotic Front from Uganda. Various reports denied the use of loans for the rearmament of the army and of the genocidal militias .
In reality, at least 42% of the loans were used to purchase arms and ammunition from the French and Belgian companies . The cost to transport them from Europe was imputed to the Ministry of Infrastructure , and the logistical costs of the army to fight the rebellion were allocated to the Ministry of Health. All through false invoices and altered accounting , financial fraud endorsed by the various audits carried out by the World Bank and the IMF.
Inside the two international financial institutions in 1992 began to raise suspicions and concerns to address racial extremism undertaken by Habyariamana Government in response to the victories of the Rwandan Patriotic Front . Some experts suspected the possibility of genocide. Doubts and fears ably refuted by Jacques De Groote , despite the fact that some international NGOs had attracted the attention of the international community denounced the massacres of the Tutsi minority in Rwanda occurred on 1991.
The propaganda of racial hatred that allowed the genocide was made possible thanks to the level of desperation of the people ruined by debts contracted by the World Bank and IMF. From 1982 to 1994 there was a terrible impoverishment of the population. During the same period, the foreign bank accounts of the Family Habyariamana increased of 38%.
The disastrous social consequences of the economic policy of the World Bank and IMF adopted in Rwanda , coupled with the collapse of the price of coffee and tea ( a direct result of the Bretton Woods) , played a key role in the Rwandan crisis . The uncontrollable popular discontent was channeled by the regime of Habyariamana to ethnic hatred and genocide.
The work of Jacques De Groote is inserted into the general context of French foreign policy of the time given to Africa and Rwanda in particular. A policy to block Anglophone offensive concentrated to subtract Paris influence in Africa , which began in 1987 with the seizure of power of the guerrillas led by Yoweri Museveni , the current President of Uganda.
A survey conducted by the Wall Street Journal on the role played by Jacques De Groote Zaire and Rwanda , came to the conclusion that the work of this financial pirate was a terrible combination of private interests , conflicts of interest and geo- strategic international needs .
” The Swiss Federal Criminal Court sentenced the defendants to prison Czechs imprisonment from three to four and a half years . Jacques De Groote , was sentenced to pay a fine, but the charges against him have been suspended , “reads the article: ” Swizz Court convicts six over Czech money laundering scheme ” published October 11, 2013 by the Swiss newspaper The Local.
Clear demonstration that despite all the powers and international lobbies remain grateful to the profitable services rendered by Jacques De Groote .
Unlike the regime of Mobutu , the Government of New Rwanda has refused to repay debts incurred by the regime Habyariamana and given by World Bank and IMF. Debts which were used, ultimately , to fund the Genocide.