BREAKING: The IMF is preparing to strip the Central Bank of Ecuador out of the hands of its government in the name of "independence."

Members of the @ProgIntl — incl. @Jayati1609, @yanisvaroufakis, and @BJMbraun — are standing up to the IMF's austerity agenda.

A short :

2/3 "No central bank can be independent. So-called independent central banks are independent only of their parliaments and the people and, thus, fully in the pockets of the financiers and the broader oligarchy... The IMF is dead against an independent Ecuador." @yanisvaroufakis

3/3 The reforms proposed by the IMF in Ecuador have been tried — and they have failed.

From our commitment to the popular sovereignty of Ecuador, we warn of the danger of this insistence by the IMF on these failed measures.

Read the statement now: https://progressive.international/blueprint/39b6674f-7add-4d57-871f-24bd2a41c49a-the-imfs-austerity-drive-against-the-central-bank-of-ecuador/en