Another example of the reckless and damaging policies of the IMF can be seen by how they help to create and then worsen the Asian Financial Crisis that started in the summer of 1997. It was Malaysia that refused IMF assistance and ignored their advice who escaped the crisis with far less damage than Thailand, [...]
Archive for April 24, 2012
IMF Gets Rich on Gold
The International Monetary Fund completed the sale of 403.3 tons of gold on December 22nd, 2010. What a Christmas present that was for the leading bankers behind the fund. Gold prices were at historic highs. From the sale of the gold the IMF made $3.5 billion more than it had originally projected. Out of this [...]
Market efficiency and the global debt crisis: is debt relief really necessary?
If we look at the global debt crisis the main problem is the lack of transparency among banks and reporting standard making it difficult to make a good comparison. The Efficient Market Hypothesis (EMH) was developed to explain different types of market efficiency. In the economic theory the Efficient Market Hypothesis says that in a [...]
The IMF and Tourism
The revenue from tourism has grown exponentially since the 1960s. The importance of tourism has been recognized by the IMF and part of what they see as a successful economy. Accordingly, the IMF has set preconditions for receiving loans. These preconditions are set out in SAPs – structural adjustment programs. SAPs are far from innocuous, [...]
The Power of Pressure to Right Wrongs
Debt is one of the main instruments of control that the developed world have over poor developing countries. It is also of crucial importance in the Eurozone with the present crisis over Greek debt. In short, those who own the debt can make demands that are virtually impossible to refuse. The alternative is to default [...]
