Debt as an instrument of post-democratic control

From Zizek’s Trouble in Paradise, pg 46. A mechanism which operates at every level, from the individual to the international:

A decade or so ago, Argentina decided to repay its debt to the IMF ahead of time (with financial help from Venezuela). The IMF’s reaction was on the face of it surprising: instead of being glad that it was getting its money back, the IMF (or, rather, its top representatives) expressed their concern that Argentina would use this new freedom and financial independence from international institutions to abandon tight financial politics and engage in careless spending. This uneasiness made palpable the true stakes of the debtor/creditor relationship: debt is an instrument with which to control and regulate the debtor, and, as such, it strives for its own expanded reproduction.

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