cross-posted from: https://lemmygrad.ml/post/4415605

I noticed that several socialist countries took out loans from the IMF (Yugoslavia, Poland, Romania) even though there was an understanding that the IMF is a predatory organisation. I assume it is connected to the wave of liberalisation in the 1980s, but would be interested in a more concrete breakdown of the logic and context behind it, or articles/links on the topic.

  • HamManBad [he/him]@hexbear.netEnglish
    23·
    2 months ago

    They were advised that it was a good decision. Incidentally, their advisors ended up doing very well during the capitalist counterrevolution

    • starkillerfish (she)@lemmygrad.mlOPEnglish
      3·
      2 months ago

      Yes. I would say that in the 1980s there was already an understanding formed about the IMF’s role in neo-colonial exploitation and also just considering the fact that the US is its most powerful member.

  • footfaults [none/use name]@hexbear.netEnglish
    3·
    2 months ago

    I don’t have any facts to back this up but I would guess it would have to do with the USSR starting to show cracks and probably cutting their aid to other countries? It’s a full decade before they actually collapsed but maybe they were the countries they reduced aid to first