The IMF, The International Monetary Fund warns of a debt crisis and shows how to counteract it as the "only solution". I tell you this much, the solution is "not" to our advantage!
International Monetary Fund Managing Director Kristalina Georgieva and the head of the Strategy, Policy and Review Department issue a warning. They say low-income countries will find it increasingly difficult to service their debt, but at the same time point to a solution, saying we could see economic collapse in some countries if G20 creditors do not agree to accelerate debt restructuring and suspend debt service while debt restructuring is negotiated.
First, let's clarify who is meant by the G20 creditors in the first place. G20 stands for "Group of 20." It is an informal grouping of 19 countries and the European Union. They represent the most important industrialized and emerging countries. The G20 serves primarily as a forum for exchanging views on problems in the economy or finance. Of course, the IMF thinks it's important to educate people about the need to help out indebted countries, because the IMF can't handle it all on its own with its energetic debt lending.
What was that again about the IMF? The IMF steps in and issues debt precisely where no bank wants to issue it, but it attaches tough conditions to it, for example, in lending to Africa. Some governments there were supposed to cut spending on education, health, and pension provision, and to fill certain positions of their central banks according to their advice, which consequently made their sovereignty smaller and smaller. But what is their strategy in doing so? They have structural adjustment programs with 4 pillars, stabilization, deregulation, privatization and liberalization.
Due to deregulation, the small banks had to give up their business and were replaced by big banks from the USA or Europe.
Because of privatization, they had to "privatize" their public utilities such as water and electricity, which in turn were taken over by companies from the West, resulting in higher prices, so that some people could no longer afford water, even though it is actually a human right.
Liberalization led to the opening of markets to large entrepreneurs, e.g. from America, giving large and strong competition to local small farmers or small entrepreneurs, which they do not survive.
They call the whole thing a "bailout package," even though interest is charged and it comes with tough conditions. They say "Action must be taken quickly!" to boost confidence in their machinations and provide a roadmap to (supposedly) help other countries facing mounting problems due to rising debt. According to the World Bank, the pandemic has dealt a severe blow to the poorest countries, triggering a recession that could plunge more than 100 million people worldwide into extreme poverty.
Here are a few quick questions from me on the subject.
Was it really the so-called "pandemic" that was responsible, or would one have to revise such statements and blame the actions of governments, which in turn support all officially important organizations?
So have we got it all right now? They give lousy loans, which in turn plunge countries into poverty, only to warn that richer countries should be responsible for restructuring the debts of these poor countries?
In the end, we can all come to the conclusion that people are deliberately set against each other. People from poor countries feel cheated by rich states, while some people there think they have to be liable for the (supposed) failures of poor people, not suspecting "where" the real profiteers of this system are to be found and meanwhile enjoying the "show".🍿
While all this is going on, Christine Lagarde, director of the IMF and other profiteers of this global "system of injustice", strengthened once again by the Coronafake, can sit back comfortably and watch the people from richer and poorer countries exploited by them, how most of them turn on each other without ever realizing who their real enemy is.
Of course, since the mainstream around the world supports this system, you will never hear all this and more from your country's mainstream political parties and public media.