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Ok. I get these Kucinich updates every day, and I don't share them… - The Life and Thoughts of Zach
Dec. 13th, 2003
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December 14th, 2003 03:03 am (UTC)
Kucinich doesn't like the IMF, but I've never quite understood what the problem is with the IMF. Why is a problem for them to have strings tied to money? Are the recipients somehow coerced into accepting the money?
December 14th, 2003 10:37 am (UTC)
Most of the recipients of IMF money are countries that have been led by military dictators when the money was accepted and have since either undergone a transition to democracy or at least have new and different dictators. The original dictators that accepted the loans generally skimmed huge amounts of the money to enrich the upper classes at the expense of the nation. Now the nation is saddled with the debt, the folks who took the loans are out of the picture, and the nations are forced to take more loans just to pay the interest on the debt and as long as they are in debt they are forced to divert money away from schools and other public projects and to open their doors to exploitation by foreign interests.
about the IMF, World Bank, and WTO.