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That and the fact that they usually demand €-denominated loans, which means that the project had damn well better have a €-denominated cash flow sufficient to retire those loans on schedule. Otherwise, you're setting yourself up for a currency crisis and the accompanying IMF euthanasia of your economy and political sovereignty structural adjustment program.

Unless, of course, one thinks that it's a brilliant idea to deliver developing countries into the waiting arms of an economic hit man.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Tue Aug 24th, 2010 at 06:15:30 PM EST
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