Newly elected Nicaraguan president Daniel Ortega and his Sandinista party are presenting two different faces to the IMF. Ortega, a former left-wing revolutionary, has been wooing the Fund and investors with a soft approach to international institutions. He asked IFI officials for more aid on easier terms in December before he took office. At the same time, Orlando Nuñéz, a Sandinista who leads the government’s coalition against poverty proclaimed: “We have criticized the IMF and will continue to do so, not only on behalf of the government but also as a society.”. Some Nicaraguan NGOs are infuriated with Ortega’s willingness to go back to the Fund. Adolfo Acevedo of Coordinadora Civil said that a new PRGF agreement “would represent the final culmination of Nicaragua’s subordination to IMF conditionality.”
IMF and World Bank policies and programmes work in tandem to expand and deepen financialisation, exacerbating the inequality crisis and harming human rights, financial stability and democratic governance
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