IMF on the Ropes in Brazil

Brazil's decision to cut some ties with the Fund is indicative of changing times in Latin America

By Kenneth Rapoza

For the first time in six years, Brazil will not renew its accord with the International Monetary Fund (IMF). The accord was up for renewal March 31. However, Finance Minister Antonio Palocci, an international respected fiscal conservative, announced on March 28 that President Luiz Inacio “Lula” da [RETURN TO ARTICLE]

  • Reader Comments

     Page 1 of 1 pages

    Whew,
    I’m so relieved that Latin Americans have been given permission to vote for left wing leaders. That’s alright then. I guess if Condy disapproved, they would get a taste of the medicine dished out to those careless, feckless Chileans in 1973. You know, armed insurrection by US backed thugs and death squads all round, just to teach them to be careful the next time they were allowed to vote (about 25 years later). But hey, its ok now guys-so long as the voting is done within ‘democratic structures’. I guess we will need to extend a friendly warning to the brothers and sisters in Latin America, that they’d best check with Uncle Sam (and his sweet niece Condy), just to make sure that the structures meet the US approved test for democracy. Electoral Colleges, ballot rigging and pevention of voting based on race are presumably all OK. Just checking.

    Australia Posted by Jane Doe on Apr 16, 2005 at 6:46 PM

    I suppose the announcement tomorrow will be that the entire hemisphere has agreed to join in defence and economic union and anyone from Antarctica will be shipped back.

    Canada Posted by cygnid on Apr 18, 2005 at 8:25 PM

    Condoleeza Rice arrived in Brazil last night (April 26). I hope she won’t commit the same “gaffes” her antecessors performed.

    Brazil Posted by Eduardo Limper on Apr 26, 2005 at 5:58 AM

    Clearly, the purpose of the IMF and the World Bank has always been to maintain the hegemony of American and to a lesser extent European ecomomies. It has been one of the major propaganda coups of all time that perhaps the majority of westerners have been convinced that were created to aid in the economic growth developing nations. Bravo for Lula in Brazil for refusing to continue licking the boots of the IMF. The only good thing about the invasion of Iraq is that the fascist obsession with middle eastern petroleam apparently caused them to largely ignore the ascendency of the left throughout Latin America in recent years. Now it may have gone to far for them to do anything about it. They have of course tried to bring down Chavez with support for the coup there. I think one of the main reasons that failed is that too many of our southern neighbors have by now become aware that Uncle Sam’s intentions have always been the ruthless advancement of American corporate interests at any cost to their societies.

    United States Posted by Louis Rue on May 8, 2005 at 7:40 AM
     Page 1 of 1 pages

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