- Oct 16, 2008
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So this guy says he is an "economic hit man" who gets third world countries enslaved to the IMF by offering bribes to their leaders to barrow money. He says a lot about "so then they can take their pound of flesh if the small country doesn't behave" but he never explains what that 'pound of flesh' is.
He also fails to look at the dramatic difference in infant morality rates between countries that do and don't take IMF loans. Finally he fails entirely to see how often the debt-holding countries forgive loans.
I am not saying that it is better to loan a foreign nation money for life-saving projects rather than give it to them. But if it is a loan and then the money is spent in a way truly useful to the people, instead of stolen by the government; then we can forgive the loans so that the tin-pot dictators in charge have even more wealth by helping their people.
He also fails to look at the dramatic difference in infant morality rates between countries that do and don't take IMF loans. Finally he fails entirely to see how often the debt-holding countries forgive loans.
I am not saying that it is better to loan a foreign nation money for life-saving projects rather than give it to them. But if it is a loan and then the money is spent in a way truly useful to the people, instead of stolen by the government; then we can forgive the loans so that the tin-pot dictators in charge have even more wealth by helping their people.