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To be fair, it is the IMF - their inherent mission is to lend, it's even in their name.
by zwerdlds 10y ago
To be fair, it is the IMF - their inherent mission is to lend, it's even in their name.
- kiruwa 10y agoLend to 3rd world plutocrats, then hold their countries responsible for the debt when they run off with the money.
- zwerdlds 10y agoI'm not agreeing with the strategy, it just seemed like the OP had a problem with what the IMF does. For the IMF to stop, it would have to dissolve.
- elgabogringo 10y agoWhat does lending government money to other governments have to do with the free market?
- zwerdlds 10y agoThe IMF is a lender of last resort. Governments aren't forced to utilize them, and evidence shows that currency devaluation is often a better strategy. Having unfavorable terms, as you've described, makes the bitter pill of devaluation look a little sweeter. But in response to your question, I'm not sure how it's not free market. Can you describe specifically what doesn't get covered from the "it's not forced lending" argument?
- elgabogringo 10y agoOne government overspends, gets bailed out by a quasi-government entity that is funded by other governments. This is government intervention in currency in debt markets, by definition not laissez faire.
- zwerdlds 10y agoIt seems like you have an issue with government-level intervention in general. Is that the case?