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The IMF makes deals that last for decades. They don’t care if t…

Posted on November 4, 2016 by Shahid Bolsen

The IMF makes deals that last for decades. They don’t care if the policies they force governments to impose destabilizes those governments. Their agreements outlive any political administration.

Even if you topple the government, the IMF deal remains intact, and the next government will have to uphold its terms.

Erdogan came to power immediately after the previous regime contracted a deal with the IMF, and the AKP was bound by it, until they were finally able to pay off the IMF debt. Greece elected Syriza specifically to oppose the IMF policies of the former government, but Syriza was forced to comply with the Austerity program anyway, in defiance of overwhelming popular disapproval.

This is not a dilemma that can be dealt with by changing governments; it can only be dealt with by inflicting consequences on business, by imposing accountability through disruption of corporate interests.

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