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coming from argentina, i have to say it is a perfect example of a country badly managed, but also where the imf and world bank policies have been completely wrong. they have basically sunk down the country instead of promoting recovery.
right now, argentina is in "default" which means it is not paying its creditors and gets no more credit. so it is being sanctioned and penalized by the imf. but guess what? it received a credit from the imf to pay for the interests of a credit owed to... you got it! the imf!!! it sounds kafkian but it is so. the penalty for not taking said credit would be that it would be unable to pay for the other credit to the imf, and becoming in default with it, thus getting more sanctions. it is a vicious circle from the no less vicious imf officials.
defending the imf is pretty darn well impossible. you have to be pretty cynical to do it (it is not defended by... well, anyone that is not working there). they are basically the iron glove of capitalism and it is ruled by the interests of their own greed. and they are not even doing a good job. their "recepies" for improving 3º world economies have failed miserably (admitted by even them) and their ineptitude is legendary. id add more and put examples but there are so many of them id probably fill 3 pages with writing.
[ 09-26-2002, 05:57 PM: Message edited by: norompanlasolas ]
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