IMF Seizes on Pandemic to Pave Way for Privatization in 81 Countries

Ecuador is a perfect example of the consequences of IMF actions. Previously ruled by the radical administration of Rafael Correa, who made poverty reduction a priority, condemned the IMF and its sister organization the World Bank, and gave asylum to Western dissidents like Julian Assange, the country has been ruled by Lenin Moreno since 2017. Moreno immediately began unpicking Correa’s legacy, even attempting to prosecute him. In 2019, on orders from the IMF, Moreno slashed the country’s health budget by 36 percent in exchange for a $4.2 billion loan from the IMF.

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IMF BLUEPRINT

IMF Seizes on Pandemic to Pave Way for Privatization in 81 Countries

Alan Macleod

MintPress News | October 12, 2020

IMF Protest Feature photoThe enormous economic dislocation caused by the COVID-19 pandemic offers a unique opportunity to fundamentally alter the structure of society, and the International Monetary Fund (IMF) if using the crisis to implement near-permanent austerity measures across the world.

76 of the 91 loans it has negotiated with 81 nations since the beginning of the worldwide pandemic in March have come attached with demands that countries adopt measures such as deep cuts to public services and pensions — measures that will undoubtedly entail privatization, wage freezes or cuts, or the firing of public sector workers like doctors, nurses, teachers and firefighters.

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