The problem with IMF loans is that they tie recipients into fossil fueled economic "Recovery", because every promise to pay is a promise to extract. Whereas for defaulting countries in hot places like Sri Lanka, a cash donation from other places monetising the Joules of solar energy the others receive and put to use, on the condition / education that the defaulting country implements the necessary community solar infrastructure with some of the donated money would be far more productive, and would remove Sri Lanka from fuel dependency on its neighbors.
Further, the solar energy received and put to use by Sri Lanka would be added to the total being put to use by the world, therefore raising the amount of free money each country should issue, thus enriching all.
But that wouldn't suit the IMF, whos self interested profit driven business is to lend at interest, to ensure their own perpetuation, and hence probably the reason why no country as yet has formally issued money reflecting the Joules of energy they receive and put to use from the sun, whilst all countries are now putting tens of Giga-Joules per second from the sun, to use.
They are putting this off, for now, as they know they have to, to preserve the value in capital (Which disappears on the issue of free money), but they can’t put it off forever, because whilst the solar product continues to ramp up, and scale up, and the value of it continues accumulate, the product is the thing of value, not the money, as markets know very well, so the value of all currencies continues to slide ever more rapidly, in what we see as “Inflation”, and the only way of recovering the value of the money is to issue it authentically to reflect the product received, per the ideals of Austrian Economics.
Authentic means issuing it in the same way as the product was created; by donation, since the energy of the sun is pushed to us for free, requiring no labor per Joules received, after implementation of the interface to receive it. So the money has to be issued to all people, all communities, who of course will be incentivised to further scale up their solar infrastructure.
It will be interesting to see how Sri Lanka, and the IMF reacts, after the issue of free solar product backed money (“Kardashev Money”) in all countries as needed by their own populations happens, due to inflation making tens of millions of folk bankrupt and homeless in all countires, and this becomes general knowledge.
They can, and will issue free money on the Joules of energy being received and put to use by the sun. The only question is when, and how much misery they can tolerate being responsible for causing meantime.
