Comment: Latin America spurns the Fund

Last week Brazil and Argentina surprised the international community by announcing that they both intend paying off all of their outstanding debt to the IMF before the end of the year.


The Fund has officially welcomed the moves, but sceptics argue that these actions are driven by a desire to reduce the IMF's influence over domestic policy-making.

On 13 September Brazil announced that it plans to pay off its entire $15.5 billion in debt to the IMF by the end of 2005. It was

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