IMF Debt Traps in the Age of Coronavirus
On today's episode of Loud & Clear, Brian Becker and John Kiriakou are joined by Vijay Prashad, the Director of the Tricontinental: Institute for Social Research and Chief Editor of LeftWord Books, the author of “The Death of the Nation and the Future of the Arab Revolution,” and his most recent publication is “Red Star Over the Third World.”
Economies around the world are taking an unprecedented hit from the coronavirus pandemic. And third world economies are particularly hard hit. In many cases, poor countries turn to the International Monetary Fund for assistance. But the IMF, along with the World Bank, usually impose crushing austerity measures on weak economies, making it even tougher for them to rebound. That’s happening right now--in the midst of the pandemic.