IMF

Morales Declares ‘Total Independence’ From World Bank And IMF

July 28, 2017 Staff, www.telesurtv.net Create! Bolivia, Evo Morales, IMF, Imperialism, World Bank

By Staff of Tele Sur - Bolivia’s popular uprising known as the The Cochabamba Water War in 2000 against United States-based Bechtel Corporation over water privatization and the associated World Bank policies shed light on some of the debt issues facing the region. "The Bank and the IMF have been requiring these countries (in the Global South) to accept “structural adjustment,” which includes opening markets to foreign firms and privatizing state enterprises, including utilities," the New Yorker reported. At the time, the World Bank had stated, "Poor governments are often too plagued by local corruption and too ill equipped" and "no subsidies should be given to ameliorate the increase in water tariffs in Cochabamba." The New Yorker, reported, "Most of the poorest neighborhoods were not hooked up to the network, so state subsidies to the water utility went mainly to industries and middle-class neighborhoods; the poor paid far more for water of dubious purity from trucks and handcarts. In the World Bank's view, it was a city that was crying out for water privatization."

The World Bank And IMF Won’t Admit Their Policies Are The Problem

October 13, 2016 Larry Elliott, www.theguardian.com Educate! Capitalism, IMF, Ruling Class, World Bank

By Larry Elliott for The Guardian - We hear you, poor people. That was the message that blared out from Washington last week. It came from Christine Lagarde of the International Monetary Fund. It came from Jim Kim of the World Bank. It came from Roberto Azevêdo of the World Trade Organisation. It came from every finance minister and central bank governor. The people who run the global economy wanted the world to know that they understood what had caused the Brexit vote and given Donald Trump a shot at the White House.

Newsletter: Brexit Backlash Against EU, Revolt Against Elites

June 25, 2016 Kevin Zeese and Margaret Flowers, www.PopularResistance.org Newsletter Anti-Austerity, Austerity, Brexit, David Cameron, European Central Bank, European Commission, European Union (EU), IMF, Indignados, Jeremy Corbyn, Occupy, Panama Papers, Podemos, Spain, Syriza, TTIP, TTP

By Kevin Zeese and Margaret Flowers for Popular Resistance. The globalized economy is not working for most people of the world. International trade agreements and new government structures like the European Union serve corporate power and put the people and planet aside to ensure profits continue to come first. They undermine democracy and national sovereignty, leaving people feeling more powerless. By pushing austerity and commodification of public services, people are now more economically insecure with less wealth and lower incomes. The response of many is anger. Some protest austerity, others blame people of a different skin color, heritage or ethnicity. The surprise vote in the UK to leave the European Union is the latest, and perhaps the biggest, example of the blowback economic and political elites are getting for their actions. Brexit shows we have our work to do to educate people that this is not about racism and anger at ethnic groups, but is really the battle between the people and the elites. It is a conflict over whether we the people will have the power to decide our futures, whether we can create a fair economy that serves more than the 1% and whether we can act in ways that are consistent with the needs of the environmental crisis we face.

Even IMF Says US Needs To Spend More

June 24, 2016 Dave Johnson, www.ourfuture.org Educate! Government, IMF, Spending

By Dave Johnson for Campaign for America's Future - When you hear people saying that “even the IMF” is recommending economic actions that might help regular people, that’s a sign that something big is going down. The International Monetary Fund (IMF) is known as a neoliberal organization that pushes privatization of public goods, austerity, cutbacks in public services, free trade, deregulation and other economic policies that generally favor elites over democracy. But earlier this month the IMF looked at what is happening to the world economy as a result of neoliberal economic policie and said, “Oh my God, what have we done?”

US And Europe Continue To Maintain Control Of IMF

April 16, 2016 Dan Beeton, www.cepr.net Educate! Europe, IMF, United States

By Dan Beeton for CEPR - Washington, D.C. - A new issue brief from the Center for Economic and Policy Research (CEPR) shows that despite recent changes in voting shares, the U.S. and Europe continue to maintain control of decisions at the International Monetary Fund (IMF). The brief, “Voting Share Reform at the IMF: Will it Make a Difference?” examines reforms to IMF governance enacted earlier this year and finds that with 16.73 percent of votes, the U.S. dwarfs all other member countries’ voting shares, both before and after the latest changes...

Greece Demands IMF Explain ‘Disaster’ Remarks In Explosive Leak

April 4, 2016 Daniel Marans, www.huffingtonpost.com Resist! Greece, IMF

By Daniel Marans for The Huffington Post - The leaked remarks of International Monetary Fund officials suggesting the lender may threaten to pull out of Greece’s bailout are eliciting anger in Athens and could jeopardize debt negotiations. The Huffington Post exclusively obtained a private letter on Saturday from Greek prime minister Alexis Tsipras to IMF managing director Christine Lagarde, demanding answers for some of the controversial comments in a March 19 teleconference between Poul Thomsen, IMF European director, Delia Velculescu, IMF chief of mission in Greece and IMF official Iva Petrova.

The New Global Financial Cold War

March 2, 2016 Michael Hudson, www.counterpunch.org Educate! Banking and Finance, Banks, IMF, World Bank

By Michael Hudson for Counter Punch - Suppose a country owes money to another nation’s government or official agency. How can creditors collect, unless there’s an international court and an enforcement system? The IMF and the World Bank were part of that enforcement system and now they’re saying: ‘We’re not going to be part of that anymore. We’re only working for the U.S. State Department and Pentagon. If the Pentagon tells the IMF it’s okay that a country doesn’t have to pay Russia or China, then now they don’t have to pay, as far as the IMF is concerned.’

IMF’s Rogues Gallery. Crooks, Rapists And Swindlers

January 5, 2016 Staff, www.petras.lahaine.org Educate! Bankers, Banking, Finance and the Economy, IMF

By Staff of James Petras Website - The IMF is the leading international monetary agency whose public purpose is to maintain the stability of the global financial system through loans linked to proposals designed to enhance economic recovery and growth. In fact, the IMF has been under the control of the US and Western European states and its policies have been designed to further the expansion, domination and profits of their leading multi-national corporations and financial institutions.

The IMF Changes Its Rules To Isolate China And Russia

December 24, 2015 Michael Hudson, www.counterpunch.org Educate! China, Geopolitics, IMF, Russia

By Michael Hudson for Counter Punch - The nightmare scenario of U.S. geopolitical strategists seems to be coming true: foreign economic independence from U.S. control. Instead of privatizing and neoliberalizing the world under U.S.-centered financial planning and ownership, the Russian and Chinese governments are investing in neighboring economies on terms that cement Eurasian economic integration on the basis of Russian oil and tax exports and Chinese financing. The Asian Infrastructure Investment Bank (AIIB) threatens to replace the IMF and World Bank programs that favor U.S. suppliers, banks and bondholders (with the United States holding unique veto power).

The IMF Joins The New Cold War

December 10, 2015 Michael Hudson, www.counterpunch.org Educate! IMF

By Michael Hudson for Counter Punch - Since 1947 when it really started operations, the World Bank has acted as a branch of the U.S. Defense Department, from its first major chairman John J. McCloy through Robert McNamara to Robert Zoellick and neocon Paul Wolfowitz. From the outset, it has promoted U.S. exports – especially farm exports – by steering Third World countries to produce plantation crops rather than feeding their own populations. (They are to import U.S. grain.) But it has felt obliged to wrap its U.S. export promotion and support for the dollar area in an ostensibly internationalist rhetoric, as if what’s good for the United States is good for the world.

After “Landmark” IMF Reforms, U.S. Still Group’s Unrivaled Economic Power

November 6, 2015 Andrew Gavin Marshall, www.occupy.com Educate! IMF

By Andrew Gavin Marshall for Occupy - The International Monetary Fund is one of the three pillars of the global economic system, the other two being the World Bank and the World Trade Organization. And the importance of the IMF cannot be overstated, with its membership of 188 nations (a few less than the membership of the United Nations) and its responsibility to "aid" countries in economic crisis needing loans. The IMF applies strict conditions in return for its assistance, and as such, it has been one of the most influential institutions in the management, maintenance and evolution of the world economic order.

Leaked Audio Reveals Venezuelan Opposition In Secret Talks With IMF

October 23, 2015 Rachael Boothroyd Rojas, venezuelanalysis.com Educate! IMF, Venezuela

By Rachael Boothroyd Rojas for Venezuela Analysis - Caracas, October 19th 2015 (venezuelanalysis.com) - A leaked audio of a conversation between Venezuelan businessman, Lorenzo Mendoza, and former politician, Ricardo Hausman, has revealed Venezuela’s political and business opposition to be seeking collaboration with the IMF (International Monetary Fund) ahead of the country’s parliamentary elections on December 6th. In the phone conversation, leaked in Venezuela last Wednesday, both men speak about the possibility of IMF intervention in the Venezuelan economy and frequently refer to each other as “mate”.

Lima: 5,000 Protest Against World Bank, IMF, And TPP

October 20, 2015 Michael S. Wilson, www.nacla.org Resist! IMF, Peru, TPP, World Bank

By Michael S. Wilson for NACLA - At the annual governors’ meeting of the International Monetary Fund (IMF) and the World Bank in Lima between October 5th and 12th, an estimated 800 representatives from 188 countries negotiated the shape of the world’s soon-to-be renovated finance infrastructure. While the international media focused on the official event, 1,200 people attended the Plataforma Alternativa conference—a parallel three-day meeting organized under the theme “Belying the ‘Peruvian Miracle.’” The World Bank and IMF’s governor’s meeting was safeguarded by three perimeters of police.

Hondura’s IMF Agreement May Make Conditions Worse

September 16, 2015 Center For Economic and Policy Research, www.cepr.net Educate! Finance and the Economy, Honduras, IMF

By Center For Economic and Policy Research - As the U.S. and Central American governments continue to discuss how to curb the number of people leaving Central American countries for the U.S. border, a new research paper from the Center for Economic and Policy Research (CEPR) finds that Honduras’ agreement with the International Monetary Fund (IMF) may prolong Honduras’ economic problems, which include high poverty, unemployment and high inequality. The paper, “Honduras: IMF Austerity, Macroeconomic Policy, and Foreign Investment,” by CEPR Research Assistant Stephan Lefebvre, notes that the agreement, which provides Honduras with $189 million in financing over three years, includes many austerity measures, despite the weak labor market and growing poverty, and provides almost no protections for the most vulnerable sectors of society.

Hedge Funds Helped Destroy Puerto Rico’s Economy, Poor Pay Price

August 3, 2015 Alice Ollstein, www.thinkprogress.org Educate! Austerity, Debt, IMF, Puerto Rico, usa

By Alice Ollstein in Think Progress - Angry graffiti scrawled across the brightly colored buildings of San Juan tells the creditors of the world exactly where they can stick their plan to extract roughly $73 billion in debt from the struggling U.S. territory. “Puerto Rico comes first. To hell with the debt,” reads one wall. “Don’t play around with my retirement,” says the side of a major freeway. Down by the University of Puerto Rico, the walls and sidewalk are filled with laments — “Look into my unemployed face” — and calls to action: “Study and fight!” Depending who you ask in Puerto Rico, the debt crisis was caused by neo-colonial and imperialist policies from the U.S., the Puerto Rican government’s wasteful overspending and corruption, or the cadre of hedge funds that are currently profiting from the island’s woes.

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