Fed cuts rates; crisis over?

Doug Henwood dhenwood at panix.com
Sun Oct 18 12:12:20 PDT 1998

Peter Kilander wrote:

>PS and even if nothing dramatic happens, Republicans want harsher terms on
>IMF loans which will exacerbate things for borrowers.

No kidding, it's sadomonetarism at its worst. Going from concessional rates to a premium to market rates, and shortening the repayment period from 10 years to 2 1/2, is a blood-from-a-turnip approach. Right-wing opposition to the IMF takes pretty cruel form in practice.


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