El Salvador's crypto experiment ends in failure

1.4bn seems cheap, and its a loan that presumably will be guaranteed. So for 1.4bn dollars the IMF gets to call the shots for an entire country's economy.

Im surprised we dont see more private indvs playing the role of WB.

Yeah, Greece didn't survive IMF.

Oh wait...

(Nobody remembers the long term success stories, just the short period pain)

Im not even arguing against this type of lending, although it does seem predatory to a degree. Im surprised at how much leverage can be bought for 1.4bn $$, this is pocket change for most large banks/countries, im surprised the IMF doesn't have more competitors, especially if natural resources are on the table, and they always are.

yeah as an economy - you don't want to ever receive IMF money. Lots of African and Caribbean countries will attest to that. IMF money is like having the mafia control your money - the structural adjustments will kill the natural course of your economy and never recover.

That's why Chinese loans have been welcome for a lot of countries. they don't come with a lot of stipulations, such as removing subsidies for your farmers.