If you had the opportunity to save a million people from preventable death, would you do it? … This is not merely a rhetorical question, but one that… - Mark Weisbrot

Bolivia has descended into a nightmare of political repression and racist state violence since the democratically elected government of Evo Morales was overthrown by the military on 10 November last year. That month was the second-deadliest in terms of civilian deaths caused by state forces since Bolivia became a democracy nearly 40 years ago... Morales' government was able to reduce poverty by 42% and extreme poverty by 60%... The November coup was led by a white and mestizo elite with a history of racism, seeking to revert state power to the people who had monopolised it before Morales’ election in 2005. The racist nature of the state violence... all of the victims of the two biggest massacres committed by state forces after the coup were indigenous.

The IMF leadership, and almost all of the 189 member countries — including U.S. allies such as Germany and Canada — are ready to allocate the aid that Congress is considering. The reason it hasn’t already been approved at the IMF is that the U.S. Treasury has said no, and the U.S. — alone — has a veto at the IMF on this matter. .. [I]t’s not at all clear why the Treasury is blocking this desperately needed aid. … Nor is there any reason that it should be a partisan issue … Of course the Congress has a lot on its plate, and is having trouble passing further relief that millions of Americans need to pay their bills and for many, even have enough to eat. But all indications are that Congress will pass major spending bills before the end of the year, including funding to avoid a government shutdown. It would take almost no effort to include the House or Senate bill that would unblock Treasury’s hold on the IMF funding… ” (10/1).

Consider a recent IMF loan. In March, Ecuador signed an agreement to borrow $4.2bn from the IMF over three years, provided that the government would adhere to a certain economic program spelled out in the arrangement... The program calls for an enormous tightening of the country’s national budget – about 6% of GDP over the next three years. (For comparison, imagine tightening the US federal budget by $1.4 trillion, through some combination of cutting spending and raising taxes). In Ecuador, this will include firing tens of thousands of public sector employees, raising taxes that fall disproportionately on poor people, and making cuts to public investment.