this post was submitted on 25 Jun 2024
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Ruto won an election almost two years ago on a platform of championing Kenya's working poor, but has been caught between the competing demands of lenders such as the International Monetary Fund, which is urging the government to cut deficits to access more funding, and a hard-pressed population.

Very interesting!

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[–] barrbaric@hexbear.net 43 points 4 months ago (2 children)

Have any countries actually just said "We're not paying you back" to the IMF? I assume they'd be kicked out of trade organizations and whatnot but I'm curious if that might not be a better option...

[–] Autonomarx@hexbear.net 18 points 4 months ago (2 children)
[–] barrbaric@hexbear.net 10 points 4 months ago (1 children)

Interesting, so according to the articles there was no substantive backlash from the IMF/World Bank, though Lula's Brazil did exert enough pressure that they gave in on that specific bilateral debt. Still, the takeaway seems to be that it's definitely viable.

Out of curiosity, it claims that's a 3-part series but I can't find part 3. You know if it exists?

[–] Autonomarx@hexbear.net 2 points 4 months ago (1 children)

Sorry I have no clue whether or not it exists or not. It might be on the French side of the internet because the author is French, but I'm not sure.

[–] barrbaric@hexbear.net 1 points 4 months ago

No problem, thanks for the interesting read!

[–] barrbaric@hexbear.net 10 points 4 months ago

Thanks, I'll give it a read later!

[–] Redcuban1959@hexbear.net 11 points 4 months ago

Ecuador during the 2000's/2010's, but I think Argentina and Brazil helped Ecuador so there was no backlash