#loansharks — Public Fediverse posts

So, another evil thing in the world is how countries are given loans (which are often mismanaged) instead of just being helped out by other countries. The indebted countries are then forced to stoop to #environmental degradation (like selling forests to mining interests) and #HumanRights violations to pay back the debts.

Activists Disrupt Meeting to Demand '#LoanSharks' IMF and World Bank Cancel All Debt

by Brett Wilkins
Oct 11, 2022

"We need #localization and #ecological #sustainability for the people, planet, and peace," said #CodePink's Nancy Mancias. "We are calling on the IMF and #WorldBank to end its debt trap monetary practices which are causing countries to sink further down into economic crises."

https://www.commondreams.org/news/2022/10/11/activists-disrupt-meeting-demand-loan-sharks-imf-and-world-bank-cancel-all-debt

Explainer: Who holds #Ghana's debt and what restructuring is planned?

By Rachel Savage and Marc Jones
December 9, 2022

https://www.reuters.com/world/africa/who-holds-ghanas-debt-what-restructuring-is-planned-2022-12-09/

Critics Say IMF Loan Fees Are Hurting Nations in Desperate Need

Democratic lawmakers say the global fund’s surcharges for emergency relief siphon away money that countries need to fight the pandemic.

https://www.nytimes.com/2022/01/14/business/economy/imf-surcharges.html

#IMFLoans #IMFLoanSharks #CancelAllDebt #TaxTheRichToHelpThePoor #WealthRedistribution #ChineseLoans #WorldBank