Another IMF Victory in Argentina!
Posted on December 21st, 2001 by mike
So IMF-dictated austerity plans have caused yet another less-developed country to go tits up! Argentina has always provided atextbook example of how the Washington-controlled IMF controls development in the rest of the world so that it favours Western corporations. This is what Joseph Stiglitz, ex-Chief Economist for the World Bank, had to say:
The IMF riots (and by riots I mean peaceful demonstrations dispersed by bullets, tanks and tear gas) cause new flights of capital and government bankruptcies This economic arson has its bright side – for foreigners, who can then pick off remaining assets at fire sale prices. A pattern emerges. There are lots of losers but the clear winners seem to be the western banks and US Treasury.
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