The International Monetary Fund (IMF) is often described as a “lender of last resort,” which of course is not meant to flatter the governments that find themselves in need of borrowing from them. But many do, and their citizens often chafe under the policy conditions attached to the loans. For example, the IMF, now 75 years old, made its largest loan ever — $57 billion dollars — to a right-wing government in Argentina in 2018. The conditions that the IMF attached to the money threw the economy into a recession, along with soaring inflation and unsustainable public debt. In an unprecedented report last year, IMF economists even acknowledged the fund’s terrible failure in their own eval
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