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Reply #11: The IMF descends on Iraq [View All]

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Barrett808 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-25-04 08:33 PM
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11. The IMF descends on Iraq
Edited on Sat Dec-25-04 08:36 PM by Barrett808
The IMF has been notorious for imposing conditions that its economists say are necessary to slash nation's budget deficits.

Development groups and anti-poverty campaigners argue those measures favor corporations in the most industrialized nations while harming the poor and middle class in borrowing countries.

The program with Iraq appears to be no different.

Called the "enhanced post-conflict facility," the IMF program bestows 420 million dollars in loans to the Iraqi government as a first step, promising more in 2005 if the nation meets more demanding conditions.

And coming soon to America!

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