THE EDITOR, Sir:
The International Monetary Fund (IMF) is woven into the fabric of European imperialism, which enslaves the majority of our people to enrich the few that enjoy the commanding heights of their economies.
It must be seen not only as in the fabric, but as a replacement of that imperialism. And, like wolf in sheep's clothing, it pretends to provide the resources to help in balance-of-payment difficulties or to assist with poverty reduction, neither of which this country has experienced since commencement of negotiations with the IMF for a loan.
What we have experienced is an increase in poverty, depreciation of our dollar, erosion of our sovereignty and a barrier to loans, without which no country can survive, not even the United States.
I think there should be an enquiry into the reason(s) why we have to go back to the IMF, and whether we should go to it at all, as a most important step to economic growth and prosperity. Those have been denied us with the help of the IMF, and patent massive corruption that meanders through our economic system by such vehicles as virtually unfettered discretionary waivers and politically partisan contracts, while the contractor general has no statutory power of arrest as does a constable.
Owen S. Crosbie