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The very first IMF loan ever given was to France for reconstruction. One of the terms for the condition was to remove the only elected communist in their govern
by culi 2y ago
The very first IMF loan ever given was to France for reconstruction. One of the terms for the condition was to remove the only elected communist in their government from their position.
IMF loans have ALWAYS been political
- derektank 2y agoArguably, both preconditions could have been simply intended to secure an eventual return on the loan. Having a communist in political leadership and allowing citizens to pay their taxes in Bitcoin both increase fiscal risk. I can understand the IMF wanting to reduce that risk as much as possible before providing a loan.
- wordofx 2y ago^ unsure why downvoting this as it’s 100% correct. IMF doesn’t hand out loans it doesn’t think will be paid back. (This is where China swoops in and gives a loan at lower interest rates with shadow contracts to get the resources or assets)