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The IMF are tough guys, countries do not want to owe them, but usually don't have better options. They don't give "loans" and impose rather strict policies on e
by pajko 2y ago
The IMF are tough guys, countries do not want to owe them, but usually don't have better options. They don't give "loans" and impose rather strict policies on everything. https://actionaid.org/publications/2023/fifty-years-failure-imf-debt-and-austerity-africa https://actionaid.org/publications/2023/fifty-years-failure-...
- AnthonyMouse 2y agoThe IMF are an arm of the US "diplomatic" apparatus. The charitable interpretation of how they operate looks like this: 1) A country is doing something the US doesn't like. 2) The country is in some trouble of their own making. 3) The IMF will come and bail them out if they would be inclined to start doing the things the US likes instead of the things it doesn't like. The uncharitable interpretation of "2)" is "the country is doing alright so the US overtly or covertly causes problems for them so they become in trouble". Basically, the IMF money is the carrot you get for bending the knee. The stick can be the CIA or other things.
- warkdarrior 2y agoSo your claim is that US administration through the IMF is forcing El Salvador to drop Bitcoin as a national currency. The same US administration that proposed creating a "national digital asset stockpile"??!? (per https://www.cnbc.com/2025/01/23/trump-signs-executive-order-on-crypto-digital-asset-stockpile.html https://www.cnbc.com/2025/01/23/trump-signs-executive-order-... )
- rvba 2y agoUSA's own stockpile talk is to pump Doge and help the oligarchs get richer. El Salvador's cryptocurrency was helping other people (not sure if actual citizens), so it had to go.
- AnthonyMouse 2y agoThe IMF agreement requiring them to do this was from December, i.e. the prior US administration.
- roenxi 2y agoAnd, regardless, "you do this, we do that" in no way unusual for the US's foreign policy. Eg, the US military insists on democracy onshore and is mildly opposed to democracy in the middle east. Neutral at best. Any democracy they like in the ME as long as it never votes for any policy that inconveniences the nearest US general.
- dragonwriter 2y agoThe IMF isn't run by the US any more than it is run by Russia or any of the other major members (those that have their own executive-director rather than being in a group that together shares one.)
- AnthonyMouse 2y ago"Large international banking things have strong ties to large governments" is kind of a weird thing to dispute. Try starting an independent one if you think otherwise.
- _Algernon_ 2y agoThat is also (to a rough approximation) how all foreign aid works. It's not specific to the US.
- dragonwriter 2y ago> The IMF are an arm of the US "diplomatic" apparatus. No, they aren't. > The charitable interpretation of how they operate looks like this: You misspelled “conspiratorial”, and it's not even the most reasonable conspiracy theory.