IMF medicine for Latin America killed the patient

[Judi Lynn]

IMF medicine for Latin America killed the patient
By Editorial Analysis, teleSUR
Saturday, Apr 18, 2015

In 2005, former Argentine president Nestor Kirchner, after paying off his country's debt to the International Monetary Fund said, the IMF has "acted towards our country as a promoter and a vehicle of policies that caused poverty and pain.” He was right.

The history of IMF involvement in Latin America can be traced back the 1980s, known as the lost decade, during which Latin America experienced its worst economic crisis since the Great Depression; the common link among nations was their external indebtedness to the international private banking system.

In contrast to the great depression, during the 1980s, Latin America faced strong pressures to avoid prolonged defaults and was forced to adopt contractionary macroeconomic policies, much of it by the IMF.

As a result, as economist Mark Weisbrot has pointed out, “Since the IMF and the World Bank began their structural adjustment programs there in the early 1980s, the whole continent has actually had a per capita growth rate of about zero,” whereas in previous decades was consistently above at least 4 percent.

More:
http://axisoflogic.com/artman/publish/Article_70054.shtml

[djean111]

1. As most certainly was meant to happen.

[SamKnause]

2. The IMF

and the World Bank are evil entities that

intentionally rob the wealth and natural

resources of countries.

That is their sole purpose.

[Demeter]

3. They are American-made and owned agencies of Empire

As well as evil thieves. And liars.

[SamKnause]

4. You are correct.

Sickening isn't it ???