The IMF and the Poor (Pamphlet)

by Fiscal Affairs Department

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• 22 Currently reading

Published January 1998 by International Monetary Fund .
Written in

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The Physical Object
Format	Paperback
Number of Pages	27
ID Numbers
Open Library	OL12085435M
ISBN 10	1557757852
ISBN 10	9781557757852
OCLC/WorldCa	77014565

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  The IMF's conditions on financial aid to poor countries are unnecessary. It can afford to be more generous Wed 13 May EDT First published on Wed 13 May EDT. The IMF is often depicted as a heartless moneylender which forces poor countries to adopt bad policies and takes its ‘pound of flesh’ back while the countries sink further into poverty.

Despite decades of protests against them, the IMF and World Bank continue to force the same discredited neoliberal policies on poor governments and their people. Countries in economic distress desperately need alternative sources of aid that won't demand adherence to free-market orthodoxy. Second, however, IMF critics claims that the IMF’s policies are often poorly planned, and even counter-productive. Third, the most radical critics of the IMF contend that the whole international finance system, of which the IMF is one of the leading institutions, should be dismantled for the benefit of the world’s poor. The World Bank and the IMF never forgive and because of the huge debts developing countries owe the World Bank, they (the World Bank, the International Monetary Fund or IMF, the World Trade Organization or WTO, the United States of America [a major partner of the World Bank], etc.) control almost all the affairs of those poor countries.

The International Monetary Fund is allotting $50 billion (Dhbn) in emergency funding to poor and middle-income countries that may need assistance in responding to the coronavirus outbreak, as.   Although the World Bank and IMF argue that their approach to social protection is pro-poor and progressive, in reality, the opposite is the case. The World Bank and IMF’s approach to social protection results in much lower cost programmes, often targeted at poor . Presented in an accessible and easily-referenced question and answer format, Debt, the IMF, and the World Bank is an essential tool for the global justice movement. As this fine study demonstrates, the debt that is strangling the world is largely an ideological fiction, devised in the service of wealth and power, without legitimacy or moral force.