Thursday, December 18, 2008

Be wary of the IMF!

This is the time for emerging markets and developing countries, to be very wary of the IMF and their predatory lending practices-- lest we be like Ecuador in the near future.

This is not a time for risking borrowing, as the IMF is sugegsted to do in an attempt to combat the financial crisis in the developing world.
http://www.caribbeannetnews.com/news-13037--17-17--.html

Nouriel Roubini of NYU Stern, suggests that this is prime time for the IMF to lend. I know it is...but, that does not mean developing countries have to go with hat in hand to Strauss-Khan.
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