[PEN-L:34170] RE: Turkey, again.......

["Devine, James" <jdevine@xxxxxxx>]

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

My statement was too weak. The IMF is not simply a collection agency. Like its masters at the US Treasury, it's also a highly-ideological crusader for extending the power of the financial interests. Like the crusaders of old, it has the power to burn Constantinople.

Jim Devine jdevine@xxxxxxx &  http://bellarmine.lmu.edu/~jdevine

-----Original Message-----
From: Devine, James
Sent: Monday, January 27, 2003 1:37 PM
To: 'pen-l@xxxxxxxxxxxxxxxxxxx'
Subject: [PEN-L:34169] RE: Re: Re: Re: Turkey, again.......

dsquared@xxxxxxxxxxxxxxxx writes: >the
IMF cannot be considered to be a development
institution of any kind, not even on the most
charitable interpretation of its work.<

has the IMF -- as opposed to the WB -- _ever_ been considered a "development" institution? in the original Bretton Woods system, its job was to help with short-term liquidity problems that threatened to undermine the fixed exchange-rate system. Nowadays, it's the collection agent who enforces the creditors' rights.

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Jim Devine jdevine@xxxxxxx &  http://bellarmine.lmu.edu/~jdevine