[PEN-L:4613] Re: Economic dimensions of the Yugoslavian crisis

[knowware@xxxxxxxx (Tom Walker)]

Chossudovsky's analysis of the role of the IMF and the US in precipitating
the disintegration of Yugoslavia is instructive, but it also begs an
important question. Presumably, "Belgrade's creditors" were in a position to
dictate their "reforms" precisely because "Yugoslavia's economic and social
achievements in the post-war period" were heavily reliant on debt financing
from the West.

This is not to absolve the IMF and the US of culpability in the crisis, but
only to caution against nostalgia for a lost "golden age" of self-sufficient
economic and social achievement. A critical analysis of all dimensions of
the crisis might come closer to home than any of us would like.

Michel Chossudovsky wrote (in 1996):

>Adopted in several stages since the early 1980s, the reforms imposed by
>Belgrade's creditors wreaked economic and political havoc leading to
>disintegration of the industrial sector and the piece-meal dismantling of
>the Yugoslav Welfare State.

 -- snip --

>In retrospect, it is worth recalling Yugoslavia's economic and social
>achievements in the post-war period (prior to 1980): the growth of GDP was
>on average 6.1 per annum over a twenty year period (1960-1980), there was
>free medical care with one doctor per 550 population, the literacy rate was
>of the order of 91 percent, life expectancy was 72 years...[37]

regards,

Tom Walker
http://www.vcn.bc.ca/timework/covenant.htm