No country with its own money ever needs to get the IMF involved.
Largely because the only place the IMF can get your money is from you.
Currencies are public monopolies.
The problems always arise when a state starts issuing state backed liabilities in other denominations - as there is no way for a state to absolve itself of that debt without paying it back. It becomes a debtors prison.
Largely because the only place the IMF can get your money is from you.
Currencies are public monopolies.
The problems always arise when a state starts issuing state backed liabilities in other denominations - as there is no way for a state to absolve itself of that debt without paying it back. It becomes a debtors prison.