International Monetary Fund (IMF)

IMF-Driven Policies Spark Deadly Protests In Kenya

June 27, 2024 Robert Inlakesh, MintPress News. Resist! Debt, International Monetary Fund (IMF), Kenya, Mass Action, State Violence, Taxes

At least 23 Kenyan protesters were killed on Tuesday after hundreds stormed the nation’s parliament in response to a proposed tax-hike bill, which threatens to deepen the country’s cost of living crisis. The IMF’s pressure on Nairobi to balance its budget is central to the issue. Videos of bodies strewn across the concrete and protesters storming the parliament went viral on social media. This follows protests the previous week that brought the nation to a standstill. President William Ruto, elected to address the cost of living crisis, is now seen attempting to combat dissent with force, having failed to improve conditions.

Violence In Ecuador Is Result Of Deliberate Dismantling Of The State

January 12, 2024 Ricardo Perez, Orinoco Tribune. Educate! criminal gangs, Drug Trafficking, Ecuador, Guillermo Lasso, International Monetary Fund (IMF), Neoliberalism, Poverty, Violence

The systematic violence which has immersed Ecuador is the product of a process of deliberate destructuring of the rule of law derived from policies implemented by the last three neoliberal governments, warned Jorge Paladines, an academic at the Central University of Ecuador and a professor of law and political science, in an interview with Sputnik. That, today, Ecuador is in a situation of internal armed conflict, that the country has been plunged into a state of emergency, and that a live television program was interrupted by armed men, is not the result of spontaneity or chance.

Ecuador In Crisis: A Country Broken By Neoliberalism

January 11, 2024 Gerardo Szalkowicz, People's Dispatch. Educate! Ecuador, International Monetary Fund (IMF), Narcotrafficking, Neoliberalism, Violence

People across the world were shocked to see a drug gang waving rifles and grenades in the TC Television studios in Guayaquil, and the scene was perhaps the cinematic peak of successive days of explosions, riots, lootings, shootings, car explosions, and widespread panic that has paralyzed the country. However, the shocking and unprecedented episode on the public channel in Guayaquil—and the events that preceded and followed it—are just the latest chapter in a spiral of organized violence that has lasted for about five years and that has metastasized in the last two. It is the sad metamorphosis of a country that went from being the second safest in Latin America to becoming the most violent, with a homicide rate that has grown almost 800% since 2019.

Thousands Take To The Streets In Argentina

December 21, 2023 Gabriel Vera Lopes, People's Dispatch. Resist! Argentina, Austerity, Inflation, International Monetary Fund (IMF), Javier Milei, Mass Action, Repression

Thousands of Argentines demonstrated, this Wednesday December 20, “against the economic austerity measures” implemented by Javier Milei’s government. The day was marked by high tension early on, following a major police operation carried out at the main entrances to the city of Buenos Aires. The Minister of Security, Patricia Bullrich, announced that she would debut her “anti-picketing protocol”, presented last Friday December 15, and threatened that they would not allow the demonstration to take place. However, the call to mobilization managed to overcome the fear that the government tried to install.

US Helped Pakistan Get IMF Bailout With Secret Arms Deal For Ukraine

September 20, 2023 Ryan Grim and Murtaza Hussain, Orinoco Tribune. Educate! Imran Khan, International Monetary Fund (IMF), Pakistan, Ukraine, US Imperialism, weapons

Secret Pakistani arms sales to the U.S. helped to facilitate a controversial bailout from the International Monetary Fund earlier this year, according to two sources with knowledge of the arrangement, with confirmation from internal Pakistani and American government documents. The arms sales were made for the purpose of supplying the Ukrainian military — marking Pakistani involvement in a conflict it had faced U.S. pressure to take sides on. The revelation is a window into the kind of behind-the-scenes maneuvering between financial and political elites that rarely is exposed to the public, even as the public pays the price.

Economy Must Be ‘At Service Of Life’

May 28, 2023 Tanupriya Singh, People's Dispatch. Create! Africa, Capitalism, Colonialism, Debt crisis, Ghana, History, International Monetary Fund (IMF), Neocolonialism

On May 19, Ghana received the first tranche of a $3 billion, three-year bailout agreement with the International Monetary Fund (IMF). Accra had approached the lending agency in 2022 amid a severe cost of living crisis as food prices surged by 122% and the inflation rate breached 50%—the highest in two decades. With its currency cedi having lost over half of its value against the US dollar, and a debt burden that was draining between 70-100% of government revenues, Ghana reached a loan agreement with the IMF in December. This is Ghana’s seventeenth arrangement with the IMF since independence, with each engagement marked by similar policies of austerity which worked to erode the revolutionary vision of the country’s first president, Kwame Nkrumah.

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