[PEN-L:34167] Re: Re: Re: Turkey, again.......

[dsquared@xxxxxxxxxxxxxxxx]

On Mon, 27 Jan 2003, Louis Proyect wrote:

-------------------
We observe that what lies behind the colourful jargon
of ?effective and 
transparent government?, ?good governance?, and
?credibility? is a set 
of structural transformations to ultimately satisfy the
needs and 
demands of the foreign capital centers, rather than the
strategic 
requirements of the domestic economy. 
-------------------

This point cannot be emphasised enough.  The case of
Argentina underlines the fact that the IMF would far
rather see a vigorous privatisation programme combined
with macroeconomic policies that are actively stupid,
even on the IMF's own analysis, than genuinely "sound"
macro policies and no privatisation.  It is this point
more than anything else which has convinced me that the
IMF cannot be considered to be a development
institution of any kind, not even on the most
charitable interpretation of its work.

dd