World Bank
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Pakistan : Regime Change, Political Turmoil and Deepening Debt Crisis
3 May 2022 - by Abdul Khaliq
Pakistan has plunged into a major political crisis after the removal of Prime Minister Imran Khan on 10 April 22, through a successful no-confidence motion against the PTI govt. The month-long political crisis began on 8 March when the country’s (...) -
The Meltzer Report
29 March 2022 - by Allan H. Meltzer
The succession of crises that swept over the so called emerging countries in the nineties and the ensuing disastrous IMF and World Bank interventions provoked a world wide debate concerning the future and the role of these Bretton Woods’ (...) -
Death of Doing Business Report greatly exaggerated as World Bank announces rebranding plans
10 December 2021 - by Bretton Woods Project
On 16 September civil society organisations had occasion for celebration, as the World Bank announced the cancellation of the Doing Business Report (DBR, see Observer Autumn 2021). The decision resulted from an independent investigation into (...) -
Afghanistan Facing Famine
15 November 2021 - by Human Rights Watch
Donor countries, the United Nations, and international financial institutions should urgently address Afghanistan’s collapsed economy and broken banking system to prevent widespread famine, Human Rights Watch said today. The UN World Food (...) -
The World Bank and IMF are using flawed logic in their quest to do away with the informal sector
10 November 2021 - by Mike Rogan, Max Gallien, Vanessa van den Boogaard
Many low and middle-income countries face a myriad of challenges. But policies that can address them are few and far between. The challenges include high and rising inequality, budget crises and the ongoing pandemic. In a set of recent outputs, (...) -
Lessons from the assassination of Fikile Ntshangase: Climate violence, the “Right to say No!”, uncompensated resource extraction, financial profiteering and unpaid ecological debt in South Africa’s coal mining belt
22 October 2021 - by Patrick Bond
Fikile Ntshangase died aged 63 on October 22, 2020, assassinated by three thugs who entered her house – with several grandchildren playing nearby – and shot her six times, following her success in stalling a local mine’s expansion. The murder was (...) -
The latest Bretton Woods bean-counting scandal nearly evicts IMF director Georgieva: “Torture the data until they confess” (or until you’re busted), economists profess
13 October 2021 - by Patrick Bond
After a major leadership crisis that further degrades the Bretton Woods Institutions’ number-crunching credibility by revealing a pro-corporate bias – one that in 2017 was aimed at pleasing Beijing’s “Communist” government – yet another discredited (...) -
Some notes on the world economy now
25 June 2021 - by Michael Roberts
To help think about what will happen economically in the second half of 2021 and into 2022, the CADTM reproduces this article written and published by economist Michael Roberts just over a year ago in May 2020. A sugar rush or economic (...) -
Global Austerity Alert: Looming Budget Cuts in 2021-25 and Alternatives
5 May 2021 - by Isabel Ortiz, Matthew Cummins
Rather than exploring financing options to provide direly-needed support for socio-economic recovery, many governments—advised by the IMF, the G20 and others—are opting for austerity. Last week Ministers of Finance met virtually at the Spring (...) -
Series title: Ecuador: Progress and limits of resistance to the policies of the World Bank, the IMF and other creditors
Ecuador: Resistance against the policies imposed by the World Bank, the IMF and other creditors between 2007 and 2011
15 April 2021 - by Eric Toussaint
Ecuador provides an example of a government which officially decided to investigate the process of indebtedness so as to identify illegitimate debt and suspend its repayment. The fact that the government suspended payment of a large part of its (...) -
Series: 1944-2021, 77 years of interference from the World Bank and the IMF (Part 28)
The World Bank did not Foresee the Arab Spring Popular Uprisings and still Promotes the very same Policies that triggered them
12 April 2021 - by Eric Toussaint
In 2021, the World Bank (WB) and the IMF will reach the age of 77. These two international financial institutions (IFIs), created in 1944, are dominated by the United States and a few major allied powers that act to generalize policies contrary (...) -
[Press release] World Bank / IMF / G20 Spring Meetings Paltry measures doomed to failure
11 April 2021 - by CADTM International
At the spring meetings of the Bretton Woods institutions from 5 to 11 April 2021, the World Bank, IMF and G20 made new announcements in an attempt to respond to the debt crisis in the countries of the South, exacerbated by the economic and (...) -
Série : Ecuador: Progress and limits of resistance to the policies of the World Bank, the IMF and other creditors
Ecuador’s poisoned loans from the World Bank and the IMF
31 March 2021 - by Eric Toussaint
Ecuador provides an example of a government which officially decided to investigate the process of indebtedness so as to identify illegitimate debt and suspend its repayment. The fact that the government suspended payment of a large part of its (...) -
Planting budgetary time bombs in Africa: the Macron Doctrine En Marche
14 January 2021 - by Ndongo Samba Sylla, Daniela Gabor
‘A French Jeremy Corbyn, and in power!’ you’d think after reading the first few paragraphs of Macron’s recent interview in Le Grand Continent. He condemns the Washington Consensus, the paradigm of ‘less state intervention, privatisations, structural (...) -
Climate and environmental crisis: Sorcerer’s apprentices at the World Bank and the IMF
23 December 2020 - by Eric Toussaint
In December 2020, on the occasion of the fifth anniversary of the signature of the Paris Agreement on Climate, the UN General Secretary sounded the alarm because the situation has fundamentally worsened. In this article we analyze what the World (...) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 25)
The IMF and the World Bank in the time of Coronavirus: the failed campaign for a new image
9 November 2020 - by Eric Toussaint, Emilie Paumard, Milan Rivié
Considering the economic and social tragedy resulting from the structural adjustment policies (SAP) imposed on people in the South from the 1990s onward, several voices have exposed the promoters of such policies, namely the IMF and the World (...) -
The World Bank’s response to COVID-19
29 October 2020 - by Susan Engel, Nadeen Madkour, Owain Williams
The COVID-19 pandemic hit a world already struggling to find the fiscal space to adequately fund health and other social services. In this context, it is important to note that the World Bank’s long-term approach to healthcare has severely (...) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 27)
The World Bank, the IMF and the respect of human rights
25 October 2020 - by Eric Toussaint
“When I came to the Bank, we were not allowed to mention the word ‘corruption’. It was called the “c” word. Well, maybe we need to mention the “r” word which is ‘rights’” James Wolfensohn, 1 March 2004 The question of “human rights” has never been a (...) -
The CADTM denounces the G20’s measures on debt
17 October 2020 - by CADTM International
At the time of the WB-IMF annual assemblies held from 12 to 18 October 2020, the G20 Finance Ministers met on Wednesday 14 October to decide on new debt relief measures for the countries of the South. The G20 proved unable to meet the emergency (...) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 26)
World Bank and IMF: 76 Years is Enough! Abolition!
15 October 2020 - by Eric Toussaint
At a time when the IMF and the World Bank are meeting together from 12 to 18 October 2020, mainly virtually, Eric Toussaint, international spokesperson for the CADTM, makes an assessment of the World Bank and its alter ego the IMF and proposes (...) -
How the IMF and World Bank Turned a Pandemic into a Public Relations Stunt
13 October 2020 - by Walden Bello
The IMF and the Bank would like the global South to believe that they are indispensable. They are not. The International Monetary Fund and the World Bank hold their annual fall meetings this week in the midst of a pandemic that has blazed a (...) -
The Bretton Woods Twins in the Era of COVID-19: Time for an Exit Strategy for the Global South?
13 October 2020 - by Focus on the Global South
As they mark their 76th year, the International Monetary Fund and the World Bank have been presented with a grand opportunity, not to save the world, but to salvage their tattered reputation. The Fund enters the annual IMF-World Bank meetings (...) -
6 months after the official announcements of debt cancellation for the countries of the South: Where do we stand?
18 September 2020 - by Milan Rivié
As they were faced with requests for debt cancellation from several heads of state from countries of the South and social movements at the end of March and in early April, international financial institutions and other creditor groups suggested (...) -
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 (...)
- ICAN
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