IMF propaganda

FinancialTHE EDITOR: IMF representatives at the Central Bank in Port-of-Spain recently advised that the reintroduction of price controls in Trinidad and Tobago to stem inflation and high food prices would be a backward step. It is unfortunate that some people accept the advice of the IMF without questioning the validity of their statements.

Recently the IMF released their annual report entitled, “World Economic Outlook.” The report forecasts that the world economy will grow but Latin America’s growth will slow down. Over the last few years many Latin American countries have moved to the left and have repudiated the IMF’s neo liberal policies that almost destroyed the region.

President Kirchener of Argentina rejected the report saying that the IMF has been wrong in the past.

During 1998 to 2002 when the IMF was lending billions to their economy they overestimated their growth and the economy collapsed. During 2003 to 2006 when Argentina rolled back neo liberal policies the IMF underestimated Argentina’s growth. Yet the economy grew phenomenally.

Ecuador’s socialist President, Rafael Correa, an economist trained in the United States also rejected the report. Venezuela’s Finance Minister Cabezas asked if the report is technical or political. In 2005 the IMF projected Venezuela’s growth to be 1.1 percent, instead it grew by 10.3 percent!

While everyone else sees the IMF for what it is Trinidadians still foolishly accept its neo liberal propaganda and politically biased “technical” reports.

Can’t Trinidadians see that the IMF’s solutions will not bring any change to the illiteracy and poverty that this country drowns in?


10 thoughts on “IMF propaganda”

  1. the thing is, who is going to listen to you? when the big white boys give their report who are you?

    do you think any trinidadian will take this advice from you?

    at least you have made a little input, I hope that this was intended to have a greater impact than to incite the reader.

  2. i’d like to start off letting you know that i am from the u.s. and i just recently met a friend from trinidad and he was telling me about the prices down there and i think that they are terrible. now i realize that i shouldn’t complain about the price i have pay for things out her because down there you guys actually would probably spend three times more than i would for something under ten dollars

  3. The fact remains that the IMF forces their funds on no one. If the leaders of a country run their countrys economy into the ground, then who really is to blame? It happened in Jamaica in the ’70’s (a hole which they still can’t climb out of), Guyana and a host of other so-called third world countries.

    The IMF is a bank, and if countries have no other option but to access funding from them, then guess what…beggars can’t be chosers.

  4. The IMF’s main task is to help maintain global economic stability. Often this organization attempts to control or direct the emerging global economies with the blessing of the USA. The IMF tracks global economic trends and performance, alerting members when it sees problems in the future, providing a forum for policy dialogue and solutions, and passing on know-how to governments about tackling economic difficulties or adjusting polices appropriately. They perform a much needed task, especially when one considers the incompetents around the globe elected to lead emerging countries.

  5. Indeed beggars cannot be choosers. As long as the poor, whether they be the majority of individuals in a nation or the majority of nations in a global economic nation, continue to relate and interact with each other like so many crabs in a barrel, they will be beggars and they cannot be choosers.

    The IMF is a Capitalist ideologued institution, and its policies and direction will be consistent with that thinking. The IMF is charged with the task of maintaining economic stability among the national conglomerates behind its creation and funding. It matters not whether there is famine in Niger or Cambodia as long as there is stability in the US and the Nations whose economies are interwoven with the US’. But that is simply what the IMF was designed to ensure, no more no less. Beating our chests and caterwhauling about its lending requirements is like going to one of those salary advanced businesses and then complaining about their rates. No one whipped you and took you there.

    Argentina did what nations dis-satisfied with terms of the IMF conditions should do. It involves banding your belly and knucking down to some sever hardships over a period, and of course having a friend with deep pockets in your corner. Kerry is right, you cannot beg and then demand to choose what you should get. You can bear your hunger and wait for your natural and industrial crops to bear fruit, or shuffle on down to the Global Bank and resign yourself to the terms you get. That is just the way it is.

  6. Having said my piece, we all have to recognize that historical forces have culminated in “third world” countries ending up at the IMF…a few centuries of human slavery, and current economic slavery by the so-called first world play a huge part here. That and a series of bad economic choices by inept governments.

    It is these first world countries and “white boys club” that back and own the IMF. Therefore, it is widely understood (by us non-whites, off course) they are a large part of the origin the problem, but unless that can be put it numbers (that’s all they understand), you can’t take that to the bank, as they say.

  7. As my ” Tanty” will have said.”My :Lord,what is wrong with all these people here ?”
    You all talk,yap,yammer and stammer, about the IMF and the USA this and dat….but how come you folks do not ask the hard questions but simply wallow in the filth of “pseudo wannabe intellectualism” ?
    Yeah, I know , some of you all are not going to like what I write as I come along and ,like a piece of mud on your white suit,mess up your little intellectual gig….I will tell you what,say,if you answer my questions and put it to rest I will kind of ” mosey ” on down the road…deal ?
    How come TNT ( in 1973) earned so much ( I could supply the amount but I am sure you fine “economistic” folks already know the amount to the last penny!) during the Oil “ting” earned so much money and we still have flood in Port-of-Spain every time a little bit ah rain fall?
    We still considered ” third” world ?
    How come none of you fine ” brainiacs” never investigated and researched as to ” where in the hell is our money ?”
    How come with so much OIL MONEY coming in and so much money we have in Gold and Reserves ….how come we care two hoots about some dumbo dummies posing as ” Economist” at some far away place CALLED the IMF ?
    Tell me folks ,with all the educated and talented people in TNT and the Caribbean why in the world do we need to be even part of the INTERNATIONAL MOOK FOUNDATION ?
    Tell me people,why is it that many years ago ( oops all yuh doh know about things like this eh ???) we gave the State of Israel a gift of some Avocado Trees and today Israel is exporting Avocados and we are crying that we eh have no food and the prices so high ?
    Come on folks tell me the answers because I can find the answers but can YOU ?
    maybe if you folks could provide simple nuts and bolts answers and then have those answers turn into viable economic plans for TNT then we will not be having a discussion about the IMTERNATIONAL MOOK FOUNDATION with some dumbo foreigners telling us what to do!

  8. Harry, you seem to jumping all over the place with your arguments, but i think I get what you are trying to say. However, using T&T as an example may be all well and good, but most countries in the globe are not blessed with oil! We have been extremely fortunate in having been able to get out of the IMF’s clutches, despite the intial 1970’s bout of poor forward vision and planning on the part of the Government of the day. I hope that successive governments have been able to learn from past experiences, and that thay have a fallback plan and economic cushion (savings) in the event that the bottom falls out of oil (& nat. gas) prices again. These things are cyclical, so it may well just be a matter of time.

    Like I said, other countries have not been as fortunate so I disagree that we are spinning top in mud discussing this issue as you seem to indicate. And..perhaps you could find a better word to use than “mooks”. It’s getting a bit old….

  9. It is so like you folks to hop and scotch around the Hard Questions without ever answering them but offering up instead ” some tired old intellectual” puff huff and puff balls for answers and then trying to “Drag me down the path of word quibbling and spelling tests!”…please,please,my dear brother Kerry,get of that bus and get a “real ride!”
    (1) You know exactly what I am talking about which is very simple and to the point: ” WHERE IN THE HECK DID ALL THE MONEY WHICH THIS TNT EARNED IN THE OIL CRISIS OR WHATEVER YOU WISH TO CALL IT BACK IN 1973 ?” ????? WHERE IS THE MONEY ????


    My challenge to you and every one of you intellectuals ( pseudo and real and wannabe ) please,put your great logic and mighty pens to work and follow the trail of the money and tell us how much we made and where in the world it is ?

    That is the hard question!

    Now in my humble understanding and limited education it seems to me that if a country made the kind of money we are talking about ( billions in US Dollars back in 1973 etc from the high oil prices ) then we will have a quite a lot of ” cold hard USA cash ” in our treasury so why will we ever have need of the International Mook Foundation ? ( Yes it is what it is an organization of idiots and bandits choking the economic life out of poor third world countries and snatching away their freedom of choice!)
    So stop ducking the question and either admit you cannot answer the question for it is beyond your reach or get to it,Kerry because Mr.Daniels and the others will not…
    Why we need to get answers ?
    Because the OIL Money is flowing like a river once again and shall it end the same way again ?

    So my friends stop making this about me and spelling and how the arguments are crafted and make it about TNT and where is our money ?
    maybe if folks like you and Dr.Cudjoe shall get out your mighty pens and intellects and start digging up the “old money bones” maybe Governments shall be afraid to ” disappear” out money!
    I am not worth chasing after but the Billions which are unaccounted for surely are worth going after Kerry!

  10. somebody ought to listen to what Harry Williamn is saying. Too many high salaried government people are put in areas where they are totally incompetent and are there simply by “contact”. these idiots protect their incompetence by making foolhardy plans and autonomous decisions without consulting anybody. they cling to their “qualified professional” opinions without exposing themselves in the forum of THINK TANKS. we need groups to think and plan major progressive plans for our nation. these BOBOLish ways of conducting serious business in goverment must stop. i believe intelligent trinidadians are a superior breed compared to the rest of the world. IF WE CAN ONLY BE BROADMINDED AND WORK TOGETHER without following the corruped practices of other nations we can be a nation to be respected.
    QUESTION; why can’t a basic necessity of crime prevention be solved with the kind of wealth trinidad posseses?



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