Hooray! Latin America takes IMF to the cleaners

Venezuela’s Banco del Sur: The End of the IMF in Latin America?

Written by Paul McIvor
Wednesday, 21 March 2007
Speaking to an audience at Columbia Business School in February, Rodrigo de Rato, Managing Director of the International Monetary Fund, sketched out his vision for Latin America. Optimistically titled "The Way Forward," Mr. de Rato called on the countries of the region to stay the course laid out by the IMF – structural adjustments, trade liberalization and privatization.
He dismissed the shift to the left in Chile, Argentina and Bolivia as an "apparent inconsistency of economic and political developments," suggesting that voter dissatisfaction has more to do with a lack of recognition of economic progress to date. When he did admit to high poverty levels, he advised that "the problem is often that reforms have not gone far enough." More...

Article courtesy of Upside Down World