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Indonesia in 1998 is the archetypal example of an IMF riot caused by a cessation of fuel subsidies. But there's also Ecuador in 2001. And that's just five seconds of Google; if I flipped through Globalization and its Discontents, I'd be able to recite a whole laundry list.

Of course, they aren't subsidising fuel for the poor any more...

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Nov 10th, 2010 at 01:14:39 PM EST
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And here is the IMF 2 months ago approving of similar steps in Iran. Any riots will of course be described by the international press in approving terms, as they will be against Ahmaninajad.

Incidentally, the IMF article also gives a perfect justification for their work on nuclear energy, without actually saying so.

IMF Survey online: If Iran sold more oil and gas on international markets, would that generate a lot more revenue than if they sold it domestically?

Zytek: Yes. At such low prices, domestic demand for energy in Iran has grown very rapidly, and it is increasingly difficult to have energy resources available for export. With the price reform, you will dampen domestic demand, which means more efficient energy use domestically, more energy available for profitable exports, and higher revenues for the country.

by gk (gk (gk quattro due due sette @gmail.com)) on Wed Nov 10th, 2010 at 01:51:55 PM EST
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