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Sunday, April 5, 2009

G20 leaving 'sheep' in 'wolf' care, says Morales

Sat, 04 Apr 2009 00:40:04 GMT | PressTV

Bolivian President Evo Morales

Bolivian President Evo Morales has slammed the G20 summit's decision to inject USD 750 billion to the International Monetary Fund (IMF).

Morales said that countries at the root of the crisis cannot solve the problem, or in his words: "the wolf cannot keep the flock," a reference to the injection of more than 1,000 billion dollars through the IMF and the World Bank to fight the global crisis.

"It's like giving money to the wolves, or to entrust the care of the flock: the wolf is not going to keep the sheep, it will devour them," Morales told the foreign press in La Paz, commenting on the decisions G20 in London to tackle the crisis.

"It is not possible that the countries of capitalism, which has caused the financial crisis, are now the same from where comes the solution," said the Socialist leader, adding that few countries are at the origin of this financial crisis, but '180 (Countries) must cope'.

"As long as we do not touch the structural points of capitalism, it will be difficult to resolve the financial crisis," said Morales about the G20. "If we want to solve economic problems, we must first end the free market, then the speculative capitalism."

Morales remarks echoed those of the Venezuelan President Hugo Chavez, who said earlier in the day that the G20 nations' plan to spend more than a trillion dollars would strengthen "one of the great guilty ones behind the crisis: the International Monetary Fund."

"It's impossible that capitalism can regulate the monster that is the world financial system... Capitalism needs to go down. It has to end," Chavez said during a visit to Tehran on Friday.

Bolivia is experiencing the beginning of economic deceleration with 5 percent growth at best in 2009, against 6.5 percent in 2008.

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