For decades, the International Monetary Fund (IMF) and the World Bank pressured Caribbean nations to privatize essential services, framing it as a prerequisite for economic development. However, recent actions by the United States government have starkly contradicted this long-standing narrative. In August 2025, the U.S. acquired a 10% stake in Intel, followed by equity positions in four other strategic companies, marking a significant shift toward state capitalism. This move has unmasked what many see as a double standard in global economic policy, where free-market fundamentalism was less about sound economics and more about geopolitical power. Caribbean nations, which were forced to privatize their assets under harsh conditions, now have every reason to feel both vindicated and outraged.
OPINION: The End of Free-Market Hypocrisy? What America’s U-Turn Means for the Caribbean?
