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Low- and middle-income countries are burdened by so much debt that many spend more on interest than on education or health care while Wall Street lenders, charging high interest rates, have often profited from the crisis, keeping these countries trapped in a cycle of poverty.
Vox spoke with Gregory Makoff about the IMF's role in low- and middle-income countries that are facing impossible debt spirals.
"At the end of the day, the IMF is brought in to “do math” for countries that have “generally made a lot of bad decisions. They make sure the money [that comes] in and out …
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