A brutal war since April has left at least 10,000 dead and displaced 6 million but remains a mere footnote on the international agenda.
A brutal war since April has left at least 10,000 dead and displaced 6 million but remains a mere footnote on the international agenda.
I think there are two things I would point to. One is that neither the IMF nor the World Bank are nation states, which makes their predatory lending a little different. The other is that China brought Sri Lanka’s economy to the brink of collapse through predatory lending and I don’t know that the IMF or the World Bank has gone that far with a nation’s economy, but feel free to correct me on that.
Here’s a top 10 list of debtors to the IMF, on top of which is Argentina, which, as you know isn’t doing great economically.
I’m not going to claim there’s a causal effect, as I don’t think the case of Sri Lanka can be attributed solely to debt to China either (Sri Lanka was run by kleptocrats, and had to import a lot of goods and energy, making it vulnerable to external market conditions).