Madame Christine Lagarde, as chief of the IMF had a heavy hand in the annihilation of at least the last three mentioned. The first feeding us a distorted, fairytale version of reality that argues borrowed money will grow the economy. Now, it’s over $20 billion going up to 30 billion. The more debt you have, the less real net savings you have to drive the economy going forward. Regarding the IMF loan to Ethiopia, for example, we don’t see how an IMF loan of $3 billion would help Ethiopia deal with its fundamental problems or its short-term crisis.

Source: Ethiopian News December 24, 2019 17:37 UTC