President Maduro: The IMF and World Bank formulas are predators of social development

Published at: 23/09/2024 09:58 PM

The President of the Republic, Nicolás Maduro, assured that Western multilateral organizations, including the International Monetary Fund (IMF), do not represent an alternative for developing countries due to their credit policies that end up ruining countries due to the conditions they impose to finance projects.

“I think that the IMF and its formulas of capitalism are exhausted, at least for the countries of the Global South. Right now. The IMF and the World Bank use predatory formulas for the economic life and development of peoples. Let's look at Argentina, it has been a triple victim of the IMF,” reflected the national president during his Con Maduro+ program.

The Head of State recalled the havoc caused in the region by the IMF's credit policies, which left their mark by imposing cuts in public spending on creditor countries and paying high default interest rates.

Mazo News Team