IMF Head Lagarde Found Guilty of Criminal Negligence
NOVANEWS
By Stephen Lendman
IMF operations make loan-sharking look respectable by comparison, debt-entrapping nations, obligating them to take new loans to service old ones.
The scheme assures rising indebtedness and structural adjustment harshness, including:
privatization of state enterprises at fire sale prices;
mass layoffs;
deregulation;
deep social spending cuts;
wage freezes or cuts;
unrestricted free market access for western corporations;
corporate-friendly tax cuts;
tax increases for working households;
crushing trade unionism; and
harsh repression against opposition to a system incompatible with social democracy, civil and human rights.
Nations are strip-mined of their material wealth and resources, sold off to private hands on the cheap. Democratic values ...