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Red Flags and Red Lights for IMF Lending to HIPCs

This blog entry also appeared on the Huffington Post.

As the global economic crisis spread throughout the developing world in 2008, some of us waited for the next unfortunate phase for poor, debt vulnerable countries - the resumption of massive IMF lending. This is a movie that we’ve seen many times before. And we know the ending. Sadly, it’s less of a Hollywood ending and more of a Parisian tragedy.

It didn’t take long to get the IMF engine roaring.