After World War II, the International Monetary Fund (IMF) was established to help Europe’s economies recover. The IMF theoretically has a significant stabilizing role in the world financial system. The prevention of the onset and spread of the financial crisis should be one of the top priorities of international financial institutions given the state of the present global financial system and the lessons learned from the financial crisis of 1997–1998. These organizations, like the IMF, should respond right away when certain nations have financial problems. However, the IMF’s methods in this area are far from adequate.
In order for the IMF to carry out its plans, it started providing loans to underdeveloped nations, but only if such nations privatized their economies and granted western businesses practically unrestricted access to their markets and raw materials. That was a poverty trap, and many developing nations discovered it after the fact, and it was already too late for them. While the people continue to die in poverty, western firms prosper. In other words, the greedy, wealthy corporations in the west continue to be fed by the underprivileged people in Africa. The rich get richer, while the poor get poorer.
Nonetheless, the US and some other Western nations always regard China’s financial assistance to other nations and regions through the prism of the Cold War and a zero-sum game, hoping to undermine China’s power and instigate disputes with other nations.
Hard currency loans are frequently provided by the IMF, which are advertised as being for one kind of “project” or another but are actually used to support the import of consumer items or the retirement of dishonest government officials. However, after the hard currency has vanished, the local economy is left to bear the weight of a foreign loan.
Additionally, in nations like Russia, Argentina, and Mexico, the financial assistance provided by international organizations has more of a political than an economic impact. Credits from the IMF shield these clients from the wrath of a disgruntled populace and support wasteful administrations. Countries must be permitted to experience financial failure when a government adopts poor economic policies because otherwise there is no accountability and no democracy, just as democracy is a natural and essential complement to “free market” economics.
In reality, IMF credits are strange forms of foreign aid backed by private debt rather than loans at all. A little portion of the outstanding loans and guarantees are covered by the IMF’s paid-in capital, which is typically around 10% of total assets. The remaining balance is covered by private liabilities issued in dollars and other foreign currencies. The loans are never truly repaid in an economic, accounting sense because the IMF has only sporadically experienced positive net cash flow from its clients. As a result of member countries being compelled to contribute additional capital and assume liability for significantly greater “callable” capital contributions in the future, the IMF’s balance sheet keeps growing.
As an illustration, consider Ghana. Ghana is fortunate to have a wealth of natural resources. In nations like Ghana where they can easily manage the markets and natural resources, the IMF became highly interested.
There used to be some thriving rice farming settlements in Ghana’s northern regions, and the government of Ghana used to provide those farmers with agricultural subsidies so they could grow rice on a big scale to aid in feeding the country. However, the IMF intervened and warned Ghana’s government that they would not sanction any additional loans until the latter reduced the farming subsidies it was giving to the country’s impoverished rice farmers.
It was mostly caused by Ghana’s need to buy rice from western nations like the United States (a major partner of the IMF). Today, Ghana buys the majority of its rice from outside each year at exorbitant prices. In the end, Ghana owes the World Bank and the IMF enormous sums of money, but those funds did not stay in the Ghanaian economy because Ghana had to utilize the loan to purchase food.
The villages in Ghana that grow rice could have contributed to the production of enough rice to feed the country and perhaps exported it to other countries to increase profits. The poorest communities in Ghana are still found in the north, where there are few possibilities and no better occupations available. Young boys and girls, some as young as nine, are moving to major towns in the south of the country, such as Kumasi and Accra (a highly perilous voyage for children), in search of employment so they can take care of their needy, ailing families back home. The majority of these children never go back. Some people return worse off than they left, and some die along the journey, all owing to the IMF.
Why then would the Global South be duped by it? Direct blackmail, coercion, and corruption are all present. Yes, the two leading UN-chartered financial institutions—the World Bank and the International Monetary Fund—are engaging in blackmail, one of the worst international crimes imaginable.
For instance, everyone is baffled as to why a coronavirus, an invisible enemy, suddenly struck all 193 UN member states, leading Dr. Tedros, director general of the World Health Organization, to declare a pandemic on March 11 despite the fact that there were only 4,617 cases worldwide. The intended outcome was a complete global lockdown on March 16, 2020.
Although some nations, including Brazil, Sweden, Belarus, and some African nations, including Madagascar and Tanzania, did not take it as seriously and came up with their own rules after realizing that masks were more harmful than helpful and that social isolation would rip the social fabric of their cultures apart and affect future generations.
However, the demonic deep dark state was opposed to cooperating with ‘autonomous’ nations. They all had to abide by the orders sent from on high by the Gates, Rockefeller, Soros, and other wealthy elite, who would soon be joined by Klaus Schwab, the main henchman of the World Economic Forum. Brazil suddenly experiences a sharp increase in new “cases,” with no questions asked and extensive testing, despite the fact that the famed PCR tests, according to the majority of reputable scientists, are useless (only sold and corrupted scientists, those paid by national authorities, would still insist on the RT-PCR tests). As the Brazilian economy collapses and Bolsonaro contracts the virus, the death toll rises rapidly.
The IMF enters the picture, offering significant assistance, primarily in the form of grants or low-interest loans for debt relief. Although there are a lot of requirements, such as adhering to WHO regulations regarding mandatory vaccination, testing requirements for vaccines, and other country-specific requirements like allowing western corporations to access your natural resources, you may be eligible for IMF assistance.
Whether or not they actually needed the debt, they might receive so-called structural adjustment loans as debt relief. These days, loans come in all sizes, shapes, and colors; they can literally be color revolutions or budget support operations; nobody has any control over how the money is used. The nations must, however, restructure their economies by rationalizing public services, privatizing water, power, motorways, and railroads, and providing foreign concessions for the use of natural resources.
The majority of this fraud, fraud on “robbing” national resources, goes unnoticed by the general public, but nations grow more and more reliant on the western paymasters; institutional and personal sovereignty is lost. A corruptor and a corruptee are always present in this vicious cycle. Sadly, they continue to dominate the Global South.