Tag Archives: IMF

The IMF and World Bank: Aiding and abetting inequality in Asia

Asia continues to draw attention as the “most important engine of global growth,” according to IMF Managing Director Christine Lagarde. Yet, as growth on the continent intensifies, countries are also experiencing deepening income and wealth inequality. Income disparities in 11 economies – about four-fifths of the region’s population – are widening, and while inequality gaps within countries are closing elsewhere, they have been growing in Asia. By the World Bank’s own account, “inequality in Indonesia has reached historically high levels,” with the wealthiest 10 per cent consuming as much as the poorest 54 per cent in 2014, which is an increase from 42 per cent in 2002.

Argentina | Argentina in turmoil

by Jérôme Duval

After Argentine President Mauricio Macri announced, on 3rd September, a brutal austerity plan under IMF supervision, the people hit the streets to express their anger at rising prices and budget cuts.

Greece | Syriza’s Repressive Turn

Alexis Tsipras’s government promised to end austerity. Now it’s defending the banks against people evicted from their homes — and persecuting those who protest.
Many on the international left believe that things in Greece are slowly improving, and that the Syriza government remains a left-wing force that is protecting the interests of workers and the poor even despite very difficult conditions. For those who accept this view, recent developments in the country will come as a nasty surprise.

Argentina | IMF: Argentina World Economy Weakening From US Trade War

The fund says Argentina’s economy will shrink by 2.6 percent in 2018 because of austerity measures, and global growth is contracting from trade wars.

The International Monetary Fund (IMF) said Tuesday that the Latin American economy will grow less than expected, mainly because Argentina, the region’s third largest money maker, is in an economic crisis.

Greece | EU Not Ending Greek Crisis, They End Greece

by William Engdahl

With great fanfare at the end of June, the 19 EU Eurozone finance ministers announced the end to the eight-year-long Greek debt crisis that brought the entire Euro structure into its deepest crisis to date. The exercise is a deep deception. The EU ministers refused to write off any Greek state debt. Instead they did a destructive interest capitalization of the existing debt, similar to what Washington did to Latin America in the 1980’s. What in fact is going on we might justifiably ask.