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

submitted 6 months ago by starkillerfish@lemmygrad.ml to c/history@lemmygrad.ml

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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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[–] AcidLeaves@hexbear.net 4 points 6 months ago

Split from USSR