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IPFS News Link • Economy - International

Venezuela pulling out of IMF, World Bank

• AP
President Hugo Chavez announced Monday he would pull Venezuela out of the World Bank and the International Monetary Fund, a largely symbolic move because the nation has already paid off its debts to the lending institutions.

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Comment by Ed Price
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I have one of those big, fat, thick, hard-covered, Webster's college dictionaries from 1966. When you look up "International Monetary Fund" in it, you are shown two tables - one of countries in the IMF, and the second of countries not in the IMF. There were over 100 major countries in the IMF back then, and only about 20 major countries that were not.

What's interesting is that those countries in the IMF had relative peace within their borders. Those not in the IMF had wars, disease, famine, etc.

I wonder what will happen in Venezuela if they really pull out of the IMF. Will we be fighting down there next?