Boom Bust Season 1 Episode 92 Paul Craig Roberts: IMF Loans Will Hand Ukraine Over to Private Banks

In season 1 episode 92 of Boom Bust, titled "Paul Craig Roberts: IMF Loans Will Hand Ukraine Over to Private Banks," the focus is on the situation in Ukraine and the role of the International Monetary Fund (IMF) in its economy.

Hosts Bart Chilton and Christy Ai begin the episode by discussing the latest economic news from around the globe. They also touch on the recent decision by the Federal Reserve to raise interest rates, which has significant implications for the US economy.

The main segment of the episode features an interview with Paul Craig Roberts, former Assistant Secretary of the Treasury for Economic Policy under President Ronald Reagan. Roberts, a staunch critic of the IMF, argues that the organization's loans to Ukraine will ultimately benefit private banks rather than the Ukrainian people.

Roberts explains that when the IMF loans money to a country, it comes with conditions attached, requiring the borrowing country to implement certain economic policies. These policies often involve austerity measures, such as cuts to public services and social programs.

According to Roberts, the IMF's loans to Ukraine are part of a larger strategy to privatize the country's economy and hand over control to a small group of private banks and multinational corporations. He argues that this will result in widespread poverty and unemployment for ordinary Ukrainians.

The hosts challenge Roberts on some of his assertions, pointing out that Ukraine has been struggling economically for years and that the IMF loans may be necessary to prevent a financial collapse. They also question whether the Ukrainian government has the political will to implement the necessary reforms without external pressure.

Throughout the interview, Roberts maintains that the IMF's policies are ultimately harmful to the people of Ukraine and that there are alternative ways to support the country's economy that do not involve austerity and privatization.

The episode concludes with a rapid-fire segment in which the hosts discuss a variety of economic topics, including the cryptocurrency market and the implications of increasing automation for the job market.

Overall, "Paul Craig Roberts: IMF Loans Will Hand Ukraine Over to Private Banks" is a thought-provoking episode that sheds light on the complex economic issues facing Ukraine and the role of international organizations like the IMF in shaping global economic policy.