4/16 I keep seeing people protesting the IMF and the World Bank on
the news. Their main complaint seems to be that these organizations
are charging interest on loans they made to third world countries.
This seems like a lame argument because the IMF and World Bank
are making LOANS not DONATIONS. Are the protestors all stupid
or are there logical reasons why the IMF and World Bank are bad?
The news doesn't seem to present both sides of the story and I
would like to hear a rational argument from the protestors point
of view before forming an opinion. Thanks. -emin
\_ many people are protesting because the money goes to corporations
and adds to environmental problems and does not help the poor and
leaves the countries at the beck and call of the IMF/World Bank
until the loans are repaid, which in the case of very poor nations
is basically forever.
\_ How many of those 'loans' do you see being paid back? Many of
the developign countries are defaulting or threatening to default
on their loans. Hence the desire to lower interest rates. And,
of course, a loan at below-market interest rates is essentially
a form of foreign aid.
\_ I love shotgun compassion. "Give us your money or we will put
you to jail, so we can give it to random corrupt governments
elsewhere as foreign aid."
\_ Three words: Impossible Mission Force
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