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10 Countries Most in Debt to the IMF (lemmygrad.ml)

submitted 5 months ago by [email protected] to c/[email protected]

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[–] [email protected] 0 points 5 months ago (1 children)

This seems to be the source: https://www.imf.org/external/np/fin/tad/balmov2.aspx?type=TOTAL

But the outstanding amount seems to be in SDRs (Special Drawing Rights). They list SDR valuations in various currencies here: https://www.imf.org/external/np/fin/data/rms_sdrv.aspx

According to this, 1 SDR is about $1.3237.

So looks like Argentina owes (30987500000×1.3237 ≈) $41 billion instead.

[–] [email protected] 0 points 5 months ago (1 children)

So it's even worse than it appears.

I have to wonder, at what point will a country finally have the guts to say they refuse to continue to acknowledge the legitimacy of this debt? Afghanistan for instance could easily just come out and tell the IMF to go fuck themselves. The US already stole all their sovereign reserves. What are they going to do, invade again just to get humiliated by the Taliban a second time?

[–] [email protected] 0 points 5 months ago (1 children)

Sankara said this in one of his speeches to some union of African countries. I saw it in The Upright Man documentary. He said that if they collectively default then the debts would mean nothing.

[–] [email protected] 0 points 5 months ago

He said that if they collectively default then the debts would mean nothing.

No wonder they killed him. People having such ideas are meeting quick and brutal end since the Gracchi brothers.