RE: Is lending money from the IMF beneficial? It could be beneficial, on ...
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Well, I have heard that loans from the IMF are.often bad news for the countries they lend to, since it's a private bank, and they want to make money.
( It's not a non-profit whatsoever )
Having said that, the loan terms from the Chinese Government seem far worse!
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That is true. For most countries there was no positive outcome, but there also needs to be taken into account other factors like the political status and did the people in power invest the money in a responsible way.
In the video I shared, the former managing director of the IMF; Dominique Strauss-Kahn; indeed said that they are a bank or financer and not a NGO.
But there were/are countries who got positive results after taking up an IMF loan, like Indonesia and South Korea. Indonesia wasn't mentioned in this video though.
Ah okay, yeah, #SouthKorea is doing well from what I hear, so I suspect they may have done well, or at least an okay job at managing the #IMF loan.
& Yes, I imagine that politicians corrupt the money sometimes 😕
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It's very sad when corruption is embedded in the system, that not only politicians, but also state officials are participating in corruption.
But I was also happy to learn that some countries were able to make a positive recovery, because of good management
Did the countries they make good recoveries value = #FreeSpeech?
I tend to think that countries with a culture of #FreeSpeech hold their Governments more accountable ✔️
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Oh that's a good point.
Sadly, that's not always the case or maybe it is. I take the country I live in and was born into as an example. We do have some kind of "free speech", but if I think about it and am honest to myself, then no there really isn't free speech. Not entirely. In the 1980's we had a military coup and some media company buildings got destroyed amongst other building. We also lost some journalists. So now I think people are too afraid to do investigative journalism. But I do hope it will get better. There should be more research, before I could give a definitive answer.