←back to thread

El Salvador's crypto experiment ends in failure

(www.economist.com)
151 points jcartw | 2 comments | 09 Mar 25 21:58 UTC | HN request time: 0.511s | source
Show context
TechDebtDevin ◴[09 Mar 25 23:58 UTC] No.43315265[source]▶
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.

replies(2): >>43315724 #>>43317486 #
1. NicoJuicy ◴[10 Mar 25 00:58 UTC] No.43315724[source]▶
Yeah, Greece didn't survive IMF.

Oh wait...

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

replies(1): >>43315877 #
2. TechDebtDevin ◴[10 Mar 25 01:18 UTC] No.43315877[source]▶
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.