conditions were called structural adjustment programs and they forced countries to adopt a very specific set of economic policies mainly the privatization [music] of public assets
for - economic history - Volcker Shock - IMF Structural adjustment program - privatize public assets, - cut spending of welfare, - austerity across the board - deregulation, - open domestic markets to foreign corporations, - remove protection of local businesses and workers - IMF - a deal with the devil
they had to turn somewhere for help. And that somewhere was the International Monetary
for - economic history - Volcker Shock - defaulted countries turn to IMF
Kenya’s new bond issued in March has an interest rate of 10.375 percent—vastly higher than the 6.875 percent ten-year bond that it helped to replace.
for - stats - Kenya IMF debt
Die Stabilitätsregeln der EU, die ab nächstem Jahr wieder strikt eingehalten werden sollen, würden in fast allen Ländern die Investitionen verhindern, die für das Erreichen der EU-Klimaziele nötig sind. Ausführliche Analyse der Klimafinanz-Situation in Europa nach dem Pariser Klimafinanz-Gipfel. https://www.phenomenalworld.org/analysis/carbon-budget-versus-fiscal-budget/
Bruegel-Analyse: https://www.bruegel.org/analysis/fiscal-rule-legislative-proposal-what-has-changed-what-has-not-what-unclear
Vor dem Klimafinanz Gipfel in Paris ruft Kristalina Georgieva, Chefin des internationalen Währungsfonds, dazu aufgerufen, die Kreditbedingungen für Länder des globalen Südens, die von der Klimakrise betroffen sind, zu verbessern. Eines wichtiges Element seien Klima-Swaps, bei denen ein Teil von Zinsen oder Rückzahlungen für Maßnahmen gegen die Klimakrise verwendet wird. https://www.theguardian.com/environment/2023/jun/20/climate-crisis-hit-poor-countries-should-have-debt-relief-says-imf-chief
here is an interesting condition of the imf they also interfere in the government
IMF urges governments to borrow to fight impact of Covid-19. (2020, October 14). The Guardian. http://www.theguardian.com/business/2020/oct/14/imf-urges-governments-to-borrow-to-fight-impact-of-covid-19
Diewert, W. Erwin, and Kevin J Fox. ‘Measuring Real Consumption and CPI Bias under Lockdown Conditions’. Working Paper. Working Paper Series. National Bureau of Economic Research, May 2020. https://doi.org/10.3386/w27144.
Kentikelenis, A., Gabor, D., Ortiz, I., Stubbs, T., McKee, M., & Stuckler, D. (2020). Softening the blow of the pandemic: Will the International Monetary Fund and World Bank make things worse? The Lancet Global Health, S2214109X20301352. https://doi.org/10.1016/S2214-109X(20)30135-2