the first time in years that Lebanon has wanted to turn down a loan. With the economy in free fall the country’s new government, seated in January after months of horse-trading, has reluctantly turned to thefor help. They held a first round of talks on February 20th. For now Lebanon seeks only technical advice on managing a public debt that exceeds 150% of. Politicians are keen to resist money from the fund, because it would come with strings attached. But it may be necessary.
Yet none of these countries looks to be emerging from crisis. Poverty is increasing. Unemployment remains high. Reforms were meant to unlock a flood of new investment, but it has yet to materialise. In 2011, as Arabs rose up in disgust against their leaders, Masood Ahmed, then-director of the’s Middle East programme, acknowledged the need for more “inclusive growth” in the region. But the recipients ofIn the short term the pain is predictable.
Needless to say, the IMF and the World Bank are operating by a double (some say triple) standard. They bail out impoverished countries in the short term; however, they definitely exploit politically independent, but economically and financially dependent nations in the long term.
... because the IMF and the World Bank are not really helping the struggling economies of impoverished countries; they are actually hurting the overwhelming majority of people living and working in those politically independent but economically and financially dependent nations.
The IMF never lose, countries ruined economically, hard to beat the return on the interest! Rotten
This is an insanely clickbaity and reductive tweet. Disgusting. The Economist should hire better social media managers
Perhaps the searchlight should beam on IMFs terms and conditions of the contract.
It is said that China will eliminate poverty this year
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cc Shahidmasooddr
Maybe the Egyptian government officials have now got new expensive houses with swimming pools and Ferrari’s sitting on their drives now....
It is not only that $12 bln deal with the IMF !! What about the tens of billions of dollars provided by the Arabian Gulf Countries ( mainly KSA, UAE & Kuwait ) ?! Cash must have never given to any corrupt governments !! It must be in the form of vital projects that serve people!
They're not short of weapons and rich politicians.
IMF and Worldbank are become irrelevant for the global financial markets.
'Yet'? That is exactly what an IMF deal does. Ffs.
Because they are busy hating Israel? 🤔
Widespread corruption, obviously.
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