Tag Archives: IMF

Brazil: far-right President Jair Bolsonaro has announced a celebration of the 1964 military coup

by Eric Toussaint

55 years after the army staged a coup on 31 March 1964 and overthrew President Joao Goulart, the new far-right President, Jair Bolsonaro has announced a celebration of this sad event. There can be no doubt about the active support provided by the US government, the World Bank and the IMF. On 2 April 2014, a US NGO, the National Security Archive (NSA!) publicized an impressive amount of declassified official documents that testify to Washington aiding and abetting the Brazilian army officers who had overthrown Joao Goulart’s democratic governement 50 years earlier. See: http://www2.gwu.edu/~nsarchiv/NSAEBB/NSAEBB465/

South Africa | South Africa Searches for a “Financial Parachute”, A $170 Billion Foreign Debt Cliff Looms. IMF “Economic Medicine”

by Prof. Patrick Bond

Johannesburg – This week’s hush-hush visit by International Monetary Fund Managing Director Christine Lagarde to Pretoria (between stops in Ghana and Angola) is mysterious. In contrast to last week’s IMF press briefing claim – “Madame Lagarde will hold meetings with the authorities, as well as fairly extensive meetings with the private sector, civil society, academia, women leaders, and of course the media” – there’s a complete information void here, with no public events scheduled.

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.