Why did socialist governments take out IMF loans in the 1980s? (lemmygrad.ml)

submitted 2 months ago by starkillerfish@lemmygrad.ml to c/history@hexbear.net

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cross-posted from: https://lemmygrad.ml/post/4415605

I noticed that several socialist countries took out loans from the IMF (Yugoslavia, Poland, Romania) even though there was an understanding that the IMF is a predatory organisation. I assume it is connected to the wave of liberalisation in the 1980s, but would be interested in a more concrete breakdown of the logic and context behind it, or articles/links on the topic.

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[-] HamManBad@hexbear.net 23 points 2 months ago

They were advised that it was a good decision. Incidentally, their advisors ended up doing very well during the capitalist counterrevolution

this post was submitted on 30 Apr 2024

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