4 ms·

El Salvador strikes $1.4B IMF deal after scaling back Bitcoin policies

1 points by ZeljkoS 2y ago

deleted 2y ago
[deleted]
coldtea 2y ago
Never do IMF deals. That's how you become dependent
- motorest 2y ago
  > Never do IMF deals. That's how you become dependent This blend of comments is just another way to state to the world that you are completely ignorant about the problem, and opt to be very vocal of your own ignorance. A country only resorts to IMF loans if all other options are exhausted and no one else in the whole world is willing to finance the state due to its impending economic collapse and systemic problems. At that point, the only option on the table is the financial support from the international communty that provides highly favourable loans under the condition the receiving state actually tackles the systemic problems. This international community provides this help through an international monetary fund.
  - coldtea 2y ago
    Please spare us the "splaining" directly from official brochures (or is it ChatGPT? Sounds like it). A country often resorts to IMF loans when they're pressured to do so, even when it's not absolutely necessary, and then they're blackmailed into reforms to help advance the neoliberal streamroller. And we have a long history of how those loans and those changes turned out.
    - motorest 2y ago
      > A country often resorts to IMF loans when they're pressured to do so (...) Pressured by what, pray tell? There's no patience for this blend of wilful ignorance or worse, disingenuity.
      - coldtea 2y ago
        >Pressured by what, pray tell? Nothing, it's not like international politics involve diplomatic pressure, economic blackmail, use of various trade/sanctions/tarrifs/monetary policy/etc as weapons, or downright demands by hegemonic powers over client states and lesser countries... And it's not like the IMF is used as a tool to enforce neoliberal policy. At least not in the Disney version. https://www.counterpunch.org/2024/12/13/the-international-monetary-fund-an-abc-2-0/ https://www.counterpunch.org/2024/12/13/the-international-mo... https://www.counterpunch.org/2019/07/05/the-imf-and-world-bank-partners-in-backwardness/ https://www.counterpunch.org/2019/07/05/the-imf-and-world-ba... all the way back to (and earlier): https://www.tandfonline.com/doi/full/10.1080/09692290.2011.561124?src=recsys#d1e461 https://www.tandfonline.com/doi/full/10.1080/09692290.2011.5... >There's no patience for this blend of wilful ignorance or worse, disingenuity Yes, thanks for the deep insights. If I wanted the Boy Scouts version, I'd have signed to be one...
        motorest 2y ago
        > Nothing Again, you're just manifesting your ignorance on the topic. If you know nothing about a subject, you should refrain from commenting on it, let alone wasting everyone's time with your half-baked conspiracy theories.
ChrisArchitect 2y ago
Related: El Salvador to scale back Bitcoin dreams to seal $1.3B IMF deal https://news.ycombinator.com/item?id=42372064 https://news.ycombinator.com/item?id=42372064
ChrisArchitect 2y ago
Official IMF release: https://www.imf.org/en/News/Articles/2024/12/18/pr-24485-el-salvador-imf-reaches-staff-level-agreement-on-an-eff-arrangement https://www.imf.org/en/News/Articles/2024/12/18/pr-24485-el-... (https://news.ycombinator.com/item?id=42457218 https://news.ycombinator.com/item?id=42457218)
npoc 2y ago
They'll most likely be using the IMF loan to buy more bitcoin.

1 points by ZeljkoS 2y ago

deleted 2y ago

[deleted]

coldtea 2y ago

Never do IMF deals. That's how you become dependent

motorest 2y ago
> Never do IMF deals. That's how you become dependent This blend of comments is just another way to state to the world that you are completely ignorant about the problem, and opt to be very vocal of your own ignorance. A country only resorts to IMF loans if all other options are exhausted and no one else in the whole world is willing to finance the state due to its impending economic collapse and systemic problems. At that point, the only option on the table is the financial support from the international communty that provides highly favourable loans under the condition the receiving state actually tackles the systemic problems. This international community provides this help through an international monetary fund.
- coldtea 2y ago
  Please spare us the "splaining" directly from official brochures (or is it ChatGPT? Sounds like it). A country often resorts to IMF loans when they're pressured to do so, even when it's not absolutely necessary, and then they're blackmailed into reforms to help advance the neoliberal streamroller. And we have a long history of how those loans and those changes turned out.
  - motorest 2y ago
    > A country often resorts to IMF loans when they're pressured to do so (...) Pressured by what, pray tell? There's no patience for this blend of wilful ignorance or worse, disingenuity.
    - coldtea 2y ago
      >Pressured by what, pray tell? Nothing, it's not like international politics involve diplomatic pressure, economic blackmail, use of various trade/sanctions/tarrifs/monetary policy/etc as weapons, or downright demands by hegemonic powers over client states and lesser countries... And it's not like the IMF is used as a tool to enforce neoliberal policy. At least not in the Disney version. https://www.counterpunch.org/2024/12/13/the-international-monetary-fund-an-abc-2-0/ https://www.counterpunch.org/2024/12/13/the-international-mo... https://www.counterpunch.org/2019/07/05/the-imf-and-world-bank-partners-in-backwardness/ https://www.counterpunch.org/2019/07/05/the-imf-and-world-ba... all the way back to (and earlier): https://www.tandfonline.com/doi/full/10.1080/09692290.2011.561124?src=recsys#d1e461 https://www.tandfonline.com/doi/full/10.1080/09692290.2011.5... >There's no patience for this blend of wilful ignorance or worse, disingenuity Yes, thanks for the deep insights. If I wanted the Boy Scouts version, I'd have signed to be one...
      - motorest 2y ago
        > Nothing Again, you're just manifesting your ignorance on the topic. If you know nothing about a subject, you should refrain from commenting on it, let alone wasting everyone's time with your half-baked conspiracy theories.

ChrisArchitect 2y ago

Related: El Salvador to scale back Bitcoin dreams to seal $1.3B IMF deal https://news.ycombinator.com/item?id=42372064 https://news.ycombinator.com/item?id=42372064

ChrisArchitect 2y ago

Official IMF release: https://www.imf.org/en/News/Articles/2024/12/18/pr-24485-el-salvador-imf-reaches-staff-level-agreement-on-an-eff-arrangement https://www.imf.org/en/News/Articles/2024/12/18/pr-24485-el-... (https://news.ycombinator.com/item?id=42457218 https://news.ycombinator.com/item?id=42457218)

npoc 2y ago

They'll most likely be using the IMF loan to buy more bitcoin.