No Permitamos a Estados Unidos Quebrar la Reforma de la Bancarrota Internacional

Siempre critico con frecuencia al Fondo Monetario Internacional (FMI). Entonces, debo reconocer cuando el FMI hace algo bien. El FMI admitió, por fin, el error de sus políticas de paquetes de salvación a lo grande, error demasiado evidente en Tailandia, Indonesia, Corea, Rusia, Brasil y, más recientemente, Argentina. Tres hurras para el FMI.

Los grandes paquetes de salvamento permitieron a los países mantener tasas de cambio sobrevaluadas durante un corto periodo, lo que a su vez le permitió a los ricos de esos países sacar su dinero con términos más favorables de lo que lo habrían hecho de otra manera. Esos paquetes también permitieron que los bancos occidentales involucrados en prestaciones imprudentes obtuvieran compensación. Entre tanto, conforme las tasas de cambio sobrevaluadas hundían más la economía -incluso si se mantenían sólo por un corto periodo-, el país se quedaba con la carga de pagar miles de millones de dólares de los préstamos del FMI.

En ningún momento fue más evidente el problema que cuando se brindó el paquete de salvamento a Rusia en 1998, cuando sólo después del "error" -después de la devaluación del rublo- volvió el crecimiento. Los miles de millones prestados a Rusia terminaron rápidamente en las cuentas bancarias de los oligarcas rusos en Suiza y Chipre. Todo esto fue claro en el tiempo en el que se prestó el dinero, julio de 1998, pero ahora es el pueblo de Rusia el que debe pagar por los errores del FMI.

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