Finance against people
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President Trump’s man elected to head the Inter-American Development Bank (IDB)
17 September 2020 - by Ariela Ruiz Caro
Failures in the region’s coordination have allowed President Trump’s candidate to easily win the election of the IDB presidency despite the violation of the institution’s rules. In an expeditious process, on September 12, Mauricio Claver-Carone (...) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 24)
From Paul Wolfowitz (2005-2007) to David Malpass (2019-...): the US President’s men control the World Bank
14 September 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF are 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few major allied powers who work to generalize policies that run counter the (...) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 23)
The World Bank’s accounts
7 September 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF are 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the (...) -
It Is Time to End the Controversial World Bank’s Doing Business Report
3 September 2020 - by Isabel Ortiz, Leo Baunach
NEW YORK and WASHINGTON D.C. – On 27 August the World Bank announced that it will suspend the Doing Business Report over data irregularities, until it conducts a review and audit. The halting of the report was welcomed by trade unions, academics (...) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 22)
The Meltzer Commission on the IFI at the US Congress in 2000
1 September 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMFare 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the (...) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 21)
James Wolfensohn switches on the charm (1995-2005)
26 August 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF are 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the (...) -
Unleashing the power of pension funds and debt cancellation to finance a just energy transition
25 August 2020 - by Dominic Brown
“Debt cannot be repaid, first because if we don’t repay, the lenders won’t die. That is for sure. But if we repay, we are going to die. That is also for sure.” Those were the words of the revolutionary former president of Burkina Faso, Thomas (...) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 20)
Presidents Barber Conable and Lewis Preston (1986-1995)
20 August 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF are 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the (...) -
Debt, Distress, Suicide
17 August 2020 - by Ahilan Kadirgamar
When someone takes their own life, it is the ultimate consequence of great distress. But the specific causes for such tragic endings are never clear, and are often compounded by a myriad set of factors. How does one understand the struggles of a (...) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 19)
The World Bank and the IMF: the creditors’ bailiffs
14 August 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF are 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the (...) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 18)
The Mexican debt crisis and the World Bank
4 August 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF are 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the (...) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 17)
The World Bank saw the debt crisis looming
21 July 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF are 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the (...) -
On the World Economic Crisis
20 July 2020 - by Eric Toussaint, Dan La Botz
The Covid-19 pandemic and the worldwide lockdown have triggered a depression as great as that of the 1930s. The causes of this crisis, the character of government policies, and the programs put forward by working class groups are of concern to (...) -
Donor countries will undermine the integrity of aid if they continue reporting debt relief as ODA
10 July 2020 - by Jan Van de Poel, Nerea Craviotto
Debt relief should not be reported as ODA. In the coming weeks, DAC members need to decide what is most important to them: allowing ODA double counting and inflation to create incentives to reward debt relief or upholding the credibility, (...) -
Capitalism and Patriarchy: Two Systems that Feed off Each Other
7 July 2020 - by Christine Vanden Daelen, Camille Bruneau
In other articles, we have seen that patriarchy, a social order based on the holding of power and privileges by men, is not a fatality but a socially constructed reality, so powerful that it constitutes a way of thinking deeply rooted in our (...) -
IMF: if you didn’t like the starter, wait for the main dish
5 July 2020 - by Amandla
The Treasury has made clear that it is seeking a smallanyana three to five year loan from the International Monetary Fund (IMF) of $4.2 billion, at a smallanyana interest rate of 1 or 1.1%. It will also be looking for a loan of $55-60 million (...) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 16)
The debt trap
1 July 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF are 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the (...) -
The farcical Rupees (INR) 20 trillion ($265 billion) stimulus package
29 June 2020 - by Sankha Subhra Biswas
While the whole world is suffering from the COVID-19 pandemic with more than 10 million people affected by it, the economic crisis is more acute than ever. As a response, the governments of the developed as well as the developing countries came (...) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 14)
Theoretical lies of the World Bank
4 June 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF are 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the (...) -
Time For A Renewed Anti-Debt Movement
1 June 2020 - by Eric Toussaint, Beverly Keene, Lidy B. Nacpil, Dorothy Guerrero
The coronavirus and global lockdowns mark 2020 as the year in which we re-confront these same issues, only this time with even greater life-or-death urgency, as leaders in one country after another, responding primarily to their own immediate (...) -
Capitulating to adults
31 May 2020 - by Michael Roberts
During the pandemic lockdown, I have been able to read a range of new economics books, some Marxist but most not. It seems that many leading economists have published new stuff in the last two months. Over the next few weeks, I shall post some (...) -
Tackle the Household Debt Pandemic- Cancel Debt! Create Common Credit!
30 May 2020 - by Amali Wedagedara, Ermiza Tegal
The onset of island-wide curfew since mid-March delivered a blow to the economy of working people. Millions of working people lost their jobs, or had wage cuts. Small farmers could not sell their harvest or sell it at a decent price. Fishers (...) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 13)
The World Bank and the IMF in Indonesia: an emblematic interference
13 May 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF are 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the (...) -
The downward journey of stock markets, repurchase of shares and the story of fictitious capital
12 May 2020 - by Sankha Subhra Biswas
A severe crisis has gripped the world financial markets since early March 2020 and needless to say, India has not escaped this onslaught. The Indian stock markets are unable to halt this deep slide. On certain days the markets shows some (...) -
Self-Extinction of Neoliberalism? Don’t Bet on It
4 May 2020 - by Gilbert Achcar
This article was first published in New Politics, the nickname that the IMF adopted to designate the huge economic crisis resulting from the consequences of the Covid-19 pandemic, has already sunk to far lower depths than the Great Recession, (...)
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