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IMF and World Bank at 70: many happy returns?

3 October 2014 - by Bretton Woods Project

In July, the IMF and World Bank turned 70. Unlike previous anniversaries of their establishment at the Bretton Woods conference in 1944, this milestone passed with relatively little attention or criticism. This reduced interest is presumed by (...)
Solidarity with the people of Bosnia, Serbia and Croatia: the CADTM demands a moratorium on the debt of these countries and an end to austerity measures

2 June 2014 - by CADTM International

Since May 17, floods in the Balkans have taken a heavy toll with 17 deaths in Serbia, 27 in Bosnia and 2 in Croatia. Add to this disaster tens of thousands of displaced people and of homes without electricity, and enormous material damage. (...)
The descent into savagery

7 May 2014 - by Aminata Dramane Traoré

Preface of the book “The Life and Crimes of an Exemplary Man” The descent into savagery continues throughout the world with its attendant human suffering, blood, and tears. Impoverished and starving people who storm the streets do sometimes (...)
A summary of the report “conditionally yours: An analysis of the policy conditions attached to IMF loans”

23 April 2014 - by Giulia Simula

The European Network on Debt and Development (EURODAD) has published a report on the conditions attached to International Monetary Fund (IMF) loans. All IMF lending programmes come with conditionality attached that requires national governments (...)
IMF: a large scale production of cheap apologies

15 April 2014 - by Leonidas Vatikiotis

Reports released by the IMF Independent Evaluation Office on 18 March assessed projections for 103 countries over the period 1990-2011 and found, as its detractors had been telling them for decades, that the overall estimates were too (...)
Eurodad report shows how IMF lending often makes crisis countries’ situations worse

11 April 2014 - by Eurodad

As the International Monetary Fund (IMF) prepares for its Spring meetings, new research reveals that the number of conditions it attaches to its loans are rising – and they continue to be linked to harsh austerity measures and interfere in (...)
Response to the report of investigations on the Troika submitted to the European Parliament

14 March 2014 - by Troïka Watch

Limited investigations lead to very limited conclusions…. Today the European Parliament votes on the “Report on the enquiry on the role and operations of the Troika (ECB, Commission and IMF)”. In Europe in the last three years financial (...)
The new privatization plan for Cyprus: another blackmail from the Troika

9 March 2014 - by Leonidas Vatikiotis

In the middle of lethal fire is once again the Cyprus. On the one hand are the efforts of President P. Anastasiadis to close the Cyprus problem, requiring a solution which looks like to dichotomous Annan plan, which had rejected a decade ago (...)
Cyprus: The people say “No” to the Troika memorandum!

7 March 2014 - by CADTM Europe

The CADTM affirms its full and complete solidarity with the people of Cyprus and their organisations struggling against privatizations in the energy, telecoms, and shipping sectors – privatizations required by the Memorandum imposed by the Troika (...)
The Life and Times of Jacques de Groote

17 December 2013 - by Eric Toussaint

Jacques de Groote, the former Executive Director to the IMF (1973-1994) and World Bank (1975-1991) for Belgium, was condemned in October 2013 by Swiss courts in an affair concerning the fraudulent privatisation of the principal coal mine in the (...)
Eric Toussaint – a courageous whistleblower

15 October 2013 - by Jean Ziegler

This text is the postface of Eric Toussaint’s book, Procès d’un homme exemplaire (The Trial of an Exemplary Man), Al Dante, Marseille, 2013. In our Europe with its uniform conscience, wishy-washy consensus, and triumphant State-imposed logic, (...)
Grenada’s IMF Sunday School

12 October 2013 - by Eric LeCompte

WASHINGTON, Oct 11 2013 (IPS) - As the International Monetary Fund shares initial proposals for Grenada’s debt restructuring during the Washington DC meetings this week, the Caribbean island could gain a reputation for more than nutmeg, calypso, (...)
Millennium Development Goals

The Failure of the Debt System

10 October 2013 - by Eric Toussaint, Daniel Munevar

As the World Bank and the International Monetary Fund hold their annual meeting in Washington 11-13th October 2013 it is necessary to take a look at the state of the Millennium Development Goals (MDG). The history of economic development is (...)
The IMF and the World Bank: It’s time to replace them

4 October 2013 - by Eric Toussaint

In 2014, the World Bank and the IMF will turn 70, and in October 2013, they will hold their usual annual meeting in Washington. Many organisations, including the CADTM, are joining together to call for a worldwide week of action against (...)
New developments in the trial against an emblematic IMF and WB figure

25 July 2013 - by Eric Toussaint

In early July 2013, the office of the attorney general of Switzerland (MPC) sought a two-year suspended prison sentence and a 162,000 euro fine (200,000 Swiss francs) against Jacques de Groote, former Executive Director for Belgium of the (...)
How the IMF and global finance are trying to block a democratic examination of Tunisia’s debt

17 July 2013 - by Chafik Ben Rouine

One year ago today, a bill to audit the Tunisian public debt was submitted to the Assembly. The debt audit was one of the first economic and social demands to have emerged during the first phase of the revolution in Tunisia. Servicing debt in (...)
The Age of Austerity

15 July 2013 - by Isabel Ortiz, Matthew Cummins

A Review of Public Expenditures and Adjustment Measures in 181 Countries This paper examines the latest IMF government spending projections for 181 countries by comparing the four distinct periods of 2005-07 (pre-crisis), 2008-09 (crisis (...)
Did you know…? The TROIKA

10 July 2013 - by PACD

The Troika is the informal name of the “decision making” group made up by the European Central Bank (ECB), the International Monetary Fund (IMF) and the European Commission (EC). These three multilateral agencies - integrated by various (...)
An emblematic IMF and World Bank Personality Dragged Into Court

20 June 2013 - by Eric Toussaint

Jacques de Groote, ex-Executive Director of the IMF (1973-1994) and the World Bank (1975-1991) for Belgium is under accusation by Swiss justice. According to the Geneva daily Le Temps, he is standing trial in the Swiss town of Bellinzona in (...)
IMF and World Bank hold their Spring Meetings making gloomy days for development

6 May 2013 - by Jeroen Kwakkenbos, Bodo Ellmers

The Spring Meetings of the International Monetary Fund (IMF) and the World Bank just ended in Washington DC and brought little promise of sunny days ahead for development.
Jamaica’s decades of debt are damaging its future

16 April 2013 - by Nick Dearden

The latest IMF loan does not ’rescue’ Jamaica, whose debt must be written off if its people are to take control of their economy. Jamaica has made little progress towards the millennium development goals. Many people in Jamaica would have (...)
Series: Banks versus the People: the Underside of a Rigged Game! (Part 6)

Even the IMF agrees…

15 March 2013 - by Eric Toussaint

IMF declarations that do not please European leaders In October 2012, the IMF provided a key explanation of why the crisis was getting worse in Europe. Its Research Department wrote that every euro cut from public spending would result in a (...)
Video

Global Noise Demo in Tokyo against IMF and World Bank

15 October 2012 - by Globalnoise

Protesters march with a banner after a rally against the annual meetings of the IMF and the World Bank Group in Tokyo October 13, 2012. On Saturday about 300 hundred demonstrators, some waving wads of fake note bills and dressed in grotesque (...)
Why are Philippine funds being used to bail out irresponsible European banks?

2 July 2012 - by Walden Bello

The Philippine government’s decision to extend a $1 billion loan to the International Monetary Fund (IMF) to supplement the Fund’s war chest of $456 billion to contain the economic crisis in Europe has been justified as assistance to countries in (...)
Greece : The IMF and Lagarde get it wrong

31 May 2012 - by Eric Toussaint, Damien Millet

Christine Lagarde, managing director of the International Monetary Fund (IMF), has made a declaration concerning Greece and Africa that requires explanation. The third world debt crisis started thirty years ago. Under strong and increasing (...)