The IMF Mafia and It's Structural Adjustment Programs.
Predatory Inclusion
The International Monetary Fund (IMF) works to achieve sustainable growth and prosperity for all of its 190 member countries. It does so by supporting economic policies that promote financial stability and monetary cooperation, which are essential to increase productivity, job creation, and economic well-being.
One man's terrorist is another man's freedom fighter.
Tom Cruise
The IMF is a mafia like financial organization, of course they don't want El Salvador to be using #bitcoin
Debt Trap Diplomacy
No one pioneered this better than the IMF
Debt-trap diplomacy is an international financial relationship where a creditor country or institution extends debt to a borrowing nation partially, or solely, to increase the lender's political leverage. The creditor country is said to extend excessive credit to a debtor country with the intention of extracting economic or political concessions when the debtor country becomes unable to meet its repayment obligations.[1] The conditions of the loans are often not publicized.[2] The borrowed money commonly pays for contractors and materials sourced from the creditor country.
The term was coined by Brahma Chellaney in 2017 to describe what he called China's predatory lending practices, which overwhelm poor countries with unsustainable loans and force them to cede strategic leverage to China
Other analysts have described the idea of a Chinese debt trap as a "myth" or "distraction"
The IMF programs of the 1980s and 1990s were the product of Wall Street and its associates and that the Structural Adjustment Programs (SAPs) generated by these interest groups, with no bailouts or stimulus packages, were an extreme form of monetarism, belt tightening economics and austerity, based on drastic cuts in public spending. The SAPs implied the rapid repayment of loans to creditors, with little regard for the suffering and inconvenience caused by the programs. They also led to forced deregulation, the coercive imposition on African governments of policies dictated by Wall Street. I point out that the end result was disastrous for growth and the well being of millions of people.
The IMF's Policies Are TGhe Problem
The reason was simple: there was not the slightest hint from the IMF or World Bank that the policies they advocated during the heyday of the so-called Washington consensus – austerity, privatisation and financial liberalisation – have contributed to weak and unequal growth, with all the political discontent that this has caused
In any event, underpinning this trade with the USD is problematic not only for Russia, but any country which may now (or in the future) disagree with the US. This lesson was taught earlier this year, after Russia found $300b of its USD currency reserves to have been stolen. As such, any alternative currency must be removed from any Western influence in the trade.
