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The IMF is funded by the governments of member countries. Each …

Posted on October 30, 2016 by Shahid Bolsen

The IMF is funded by the governments of member countries. Each country has voting privileges corresponding to the amount of money they contribute. Western countries contribute the most, and have the greatest voting power. The United States is the top contributor to the IMF and wields the most influence with almost 20% of total votes on the Board of Governors.

Thus, the IMF is largely an instrument for advancing Western, and specifically American economic interests

The conditions attached to IMF loans are political in nature, and long term in duration. They stipulate how debtor countries allocate their budgets, how they manage their monetary policy, their trade policies, and are designed to create market opportunities for Western businesses.

Essentially, the IMF is a broker, not a lender; delivering whole countries to multinational corporations and investors to plunder at will.

Once a country has become indebted to the IMF, its government is little more than symbolic, because all important policy decisions are determined by the IMF’s Board of Governors, headed by the US. Even if the government is changed, the policies remain.

When you oppose the IMF, you are opposing American imperialism. If you do not oppose the IMF, you are accepting the subjugation of your country for the benefit of Western companies, and you are relinquishing even the possibility of economic sovereignty and political independence.

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