Thursday, August 6, 2009

Implications of IMF Loans are not about interest rates

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2 comments:

Anonymous said...

My congratulations to you who wrote this comment.the IMF has a history of damaging small vulenerable countries.
Now please let no one take my comments as having any political bias but simply recent history is replete with case histories re.IMF...ie greatly reduced standard of living, increasing poverty and of course the obvious:the fact that one hands over the management of the country to a foreign institution whose sole objective is making a profit for its share holders,(whatever it perceives profit to be)as well as preparing the debtor country for full fledged takeover of its natural and human resources.this has the added effect of keeping a basket of COUNTRIES in a subservient position for the benefit of those countries who dominate and want to be in the topmost positions on the world stage.
St.Lucia has to prepare now to greatly reduce its standard of living..If it does so voluntarily with a set goal of gradually developing its economy to a prosperous standard then there is some hope,however if St.Lucia wants a reduced standard of living imposed on it, then be prepared to act according to the will and dictates of your lender.
here is a case history:I know of someone who,just before the world ceonomic crisis hit,went into VOLUNTARY economic freefall.This allowed him to reassess the situation acording to a on going model ...himself.The lessons gained were enormous.He made immediate economic course adjustments,and when the crisis hit(for he was aware that another one was coming..all he did was read the economic histories which provided the framework)and needless to say he is largely unaffected now that this thing is here.You see economic powers act in certain very predictable ways for their own survival.As soon as one recognises that then one is able to act accordingly. If St.Lucia takes charge of its independence,even at this late stage ,instead of running to somebody to do the job you ought to be doing for yourself then a difficult way upward is indicated,but it will be UPWARD not downward,but if you rely on outsiders to do for you what you ought to be doing for yourself then be prepared to take the economic and other attendant consequences.
End of economics unabridged 101.
(a little sense of humour is appropriate in the circumstances I would think.)
sincerely
mark Laporte

August 6, 2009 at 1:23 PM
Anonymous said...

That's scary.

August 6, 2009 at 4:32 PM

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