IMF
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The dark side of infrastructure investment in Africa
12 June 2017 - by Collectif
With its Compact with Africa the German G20 presidency is actively promoting private loans and investment as solutions to infrastructure deficiencies on the African continent. The Compact aims at using public resources in order to improve the (...) -
IMF lending freeze “pushing Tunisia to the brink”
11 April 2017 - by Bretton Woods Project
IMF freezes second tranche of $2.8 billion loan to Tunisia ITUC accuses Fund of risking democratic progress in Tunisia In February it emerged that the IMF had frozen payment on its $2.8 billion four-year Extended Fund Facility loan programme (...) -
The BRICS New Development Bank meets in Delhi, to dash green-developmental hopes?
30 March 2017 - by Patrick Bond
Will the Brazil-Russia-India-China-South Africa (BRICS) bloc ever really challenge the world financial order? The BRICS New Development Bank (NDB) leadership is meeting in New Delhi from 31 March to 2 April with a degree of fanfare unmatched by (...) -
Kathmandu Declaration of South Asia Peasants’ Convergence
14 March 2017 - by Collectif
We, the representatives of South Asian peasant organizations, agricultural labourer unions, plantation workers unions, young farmers, women, landless and Dalits, Adivasis, small and marginal farmers, pastoralist and herders and other small food (...) -
How years of IMF prescriptions have hurt West African health systems
3 March 2017 - by Alexander E. Kentikelenis, Thomas Stubbs
The International Monetary Fund (IMF) provides financial assistance to countries in economic trouble. But its policy proposals don’t always yield positive results for the countries it purports to help. For instance, critics have argued that the (...) -
Egypt’s new IMF deal comes with a huge price tag for human rights
13 February 2017 - by Mahinour El-Badrawi, Allison Corkery
The government of Egypt has sealed a loan deal with the IMF following four years of negotiations. The impacts of the structural adjustment reforms associated with the loan raise strong human rights concerns, particularly for the status of (...) -
The Mozambican debt crisis: How a sovereign state was sold
9 February 2017 - by Mary Serumaga
In 2013 Mozambican government officials formed three private companies and took out illegal secret loans totaling $2 billion. Donors suspended credit to Mozambique because of the loans as the national currency fell by 70% in 2016. Restructuring (...) -
Secret IMF Documents on Greece commented by Eric Toussaint (CADTM)
16 January 2017 - by Eric Toussaint
The CADTM draws attention to two IMF documents dating from March and May 2010 that were kept secret. These authentic documents were placed at the disposal of the Truth Committee on Greek Public Debt by Zoe Konstantopoulou, the President of the (...) -
Will Washington’s New Pro-Moscow, Anti-Beijing Gang Drive a Wedge Through the BRICS in 2017?
9 January 2017 - by Patrick Bond
The weeks following an underwhelming of local currency mismanagement; and sudden new foreign-policy divergences may wreak havoc in China and Russia. The BRICS bloc’s relations could well destabilise to the breaking point. Even before the next (...) -
Lagarde Trial: A business class get-out-of-jail free card
5 January 2017 - by CADTM France, CADTM Belgium
The committee for the abolition of illegitimate debts reacts to the French Court of Justice’s verdict, exempting the managing director of the International Monetary Fund (IMF). On Monday 19th of December 2016, the French Court of Justice gave (...) -
Press release
The LuxLeaks and Lagarde trials: for how much longer will the judiciary protect financial delinquents?
20 December 2016 - by CADTM France, CADTM Switzerland , CADTM Belgium, Attac Luxembourg, CADTM Estado español
LuxLeaks trial: the wrong ones are in the dock! On 12th December the trial of Antoine Deltour, Raphaël Halet and Edouard Perrin – the two whistleblowers and the journalist who brought the Luxleaks scandal out into the open— opened again in (...) -
Four reasons why Greece should not have paid the IMF
14 December 2016 - by CADTM International
On 7 December 2016 Greece remitted €299 million to the IMF. This sum corresponds to a part of the “bail-out” that was granted in 2010 and is all at the same time illegal, illegitimate, odious and unsustainable. To start with, only 5% of the sums (...) -
Iceland after the General Elections on October 29
13 December 2016 - by Lexit Network
Iceland recently held new elections following the resignation of its Prime Minister due to the Panama Papers. In an interview with the activist Árni Daníel Júlíussson, the Lexit Network gathered updated information on the current situation in (...) -
BRICS fantasies and unintended revelations
25 October 2016 - by Patrick Bond
As the leaders of Brazil, Russia, India, China and South Africa meet this weekend (8th-9th of september) for a summit in India, one consistency is observable from all the BRICS elites: A stream of anti-imperialist chatter even when the intent is (...) -
2016 IMF and World Bank Annual Meetings: The Bretton Woods Institutions stuck in policy dilemmas
24 October 2016 - by Bodo Ellmers, Tiago Stichelmans, Mathieu Vervynckt
This year’s Annual Meetings of the IMF and World Bank took place against the backdrop of continued sluggish growth in developed and developing countries alike. The impact of the commodity price crash weighs heavily on many developing countries (...) -
2016 IMF and World Bank Annual Meetings: The Bretton Woods Institutions stuck in policy dilemmas
17 October 2016 - by Bodo Ellmers, Tiago Stichelmans, Mathieu Vervynckt
This year’s Annual Meetings of the IMF and World Bank took place against the backdrop of continued sluggish growth in developed and developing countries alike. The impact of the commodity price crash weighs heavily on many developing countries (...) -
New discussion paper shows how IFIs and donors continue to influence economic policies in developing countries
12 October 2016 - by Tiago Stichelmans
Eleven years ago, the international community adopted the Paris Declaration on Aid Effectiveness that led to the adoption of several principles to improve the effectiveness of international aid. Reflecting on the widely criticised fact that (...) -
IMF increasing its influence in sub-Saharan Africa
29 September 2016 - by Bretton Woods Project
SUMMARY * IMF increasingly active in sub-Saharan African states * New loan contemplated for Zambia * Existing borrower countries struggling to adhere to strict deficit limits set by Fund The IMF is increasingly active in sub-Saharan states, (...) -
BRICS banking and the debate over sub-imperialism
15 September 2016 - by Patrick Bond
ABSTRACT: Notionally funded at $100 billion each, the BRICS Contingent Reserve Arrangement (CRA) and New Development Bank (NDB) represent ‘sub-imperial’ finance, insofar as by all indications they fit into – instead of providing alternatives to – (...) -
The IMF’s IEO Evaluation of the Greek Program: Going beyond a Mea Culpa?
7 September 2016 - by Daniel Munevar
The Independent Evaluation Office (IEO) of the IMF recently published its report on the response of the organization to the European crisis. The analysis focuses on the performance of the IMF in the context of the programs for Greece, Portugal (...) -
Open letter to the Egyptian President on the pending agreement with the IMF
30 August 2016 - by Collectif
In early September, the IMF is going to give to Egypt a “loan” of 12 billion dollars in exchange for lowering public spending, reducing the number of public employees, the phasing out of subsidies on consumer goods and a new privatisation program. (...) -
Why tax havens must go!
23 August 2016 - by Third World Network
Tax havens are drivers of global corruption and hurt developing countries the most. And as more than 300 leading economists from 30 countries affirmed in a letter to the London anti-corruption summit (see text below), they serve ’no useful (...) -
Austerity: Greece Braces for New Troika Onslaught on Workers’ Rights
2 August 2016 - by ITUC-CSI
Greek workers are preparing for yet more attacks on their fundamental rights as the IMF/EU/European Central Bank ‘Troika’, at the urging of the IMF, prepares to impose a new round of cuts to minimum wages, weakening of laws protecting workers (...) -
Third time a charm? Fund pressured into possible return to Greece
In May Greece reached an agreement with its Eurozone creditors on a new $11.4 billion loan package that will enable it to meet its debt payment obligations in July. While the IMF participated in the meetings that led to the agreement, it has not (...) -
Hoping ’something will turn up’
13 June 2016 - by Joseph Hanlon
Mozambique, long touted as an African “success story”, is sinking under debt. International lenders and donors have been angered by revelations of at least $2.3 billion in secret loans taken in 2013-4. Inflation is rising and so is the cost of (...)
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