It sounds like ridiculous hyperbole, but sadly that is literally how it's turned out. Start by offering development loans to build infrastructure like ports, mi

It sounds like ridiculous hyperbole, but sadly that is literally how it's turned out. Start by offering development loans to build infrastructure like ports, mines, etc., but then all the proceeds from the resource extraction or agriculture or whatever go back to paying off the loan. Often that's not enough, so the IMF imposes conditions like services to the local population being cut or infrastructure being privatised (usually to foreign companies) to pay back the debt.