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.

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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