The following video entitled “what is the meaning of IMF austerity measures” shows what happened in the third world countries such as Ethiopia, Argentina, and Peru when the IMF austerity programs were launched.
From the video:
Time and time and time again in country after country in every corner of the globe, IMF loans spell disaster for the people who are left holding the bag.
The crux of the entire issue is that none of this is unexpected. In fact, it is part of the design of the IMF austerity programs themselves.
As revealed by Joseph Stiglitz, the former chief economist of the World Bank, the IMF's modus operandi is to conduct economic raids of debtor nations, dismantling and selling off infrastructure for the benefit of foreign corporations, and making sure that all public money is used to pay off the bankers.
He even has a name for what happens after the "austerity" plan inevitably results in the dissolution of a society: the IMF riot.
http://tv.globalresearch.ca/content/meaning-austerity
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