When a nation or region is experiencing the worst crisis the IMF always comes to the party and makes it worse. The latest evidence from those who study the detail of IMF interventions across the globe have found that the IMF has imposed harsh conditionalities (healthcare spending cuts, cuts to jobless assistance, cuts to public service wages and employment) in 76 out of the 91 loans it has extended to nations in peril as a result of the pandemic. On the other hand, data show that the wealth of billionaires has scaled new heights between April 2020 to July 2020 – a 42.4 per cent increase in their total wealth. If all that doesn’t tell us that the neoliberal system has overextended it indecency and rebellion is required then what else would? The point is that when disaster strikes the poorest nations, the IMF guarantees to make it worse. It should be dissolved immediately through defunding from national states and a new progressive, multilateral institution created that helps people not punishes them....Bill Mitchell – billy blog
When disaster strikes the poorest nations, the IMF guarantees to make it worse
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
6 comments:
But then you guys bitch and moan when the US won’t give Iran an IMF loan:
https://financialtribune.com/articles/business-and-markets/105537/europe-failed-to-support-iran-s-imf-loan-request
“ In March the Tehran government asked the IMF for $5 billion in emergency loans to help it combat the coronavirus and mitigate its economic impact. The request was denied due to US pressure.”
Then you guys complain about that ?
When you guys come to a dead end T in the road (have to make a decision to make left hand turn or right hand turn) do you guys often just drive straight into the woods?
hypocrite: hypo-krites /. under-decide
You guys can’t make a decision...
Hold on ... I may have this..... Do you guys exclusively rely on GPS to tell you what to do when you drive? So you don’t have to discriminate and make a decision?
Maybe this is causing your deficiency in ability to discriminate and make decisions...
Ok new training plan guys: Starting today put away the GPS for a couple years and navigate the old fashion way using a map and road signs... that will help increase discriminatory and decision skills...
Post progress reports here... we’ll make it easy this will be a pass fail no letter grades will be assigned..
Help! How do I navigate a Dead End Y ??
https://www.google.ca/maps/@45.5808868,-74.4138579,3a,75y,187.45h,98.42t/data=!3m6!1e1!3m4!1sI1i-ciy03EBMg5FGBEgxZg!2e0!7i13312!8i6656
If you come to a fork in the road, take it!
I was raised not to steal cutlery.
You should be ashamed, Franko, to take what a poorer person might need.
Good one, PP!
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