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Home Policy Articles: International Trade, Development & Finance: International Monetary Fund (IMF) & World Bank


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Impoverishing a Continent: The World Bank and the IMF in Africa

The World Bank and the International Monetary Fund (IMF) are the two most powerful institutions in global trade and finance. Asad Ismi argues that, since 1980, the US government (which dominates both bodies) has used them to economically subjugate the developing world.

The Global Divide: Inequality in the World Economy

In The Global Divide: Inequality in the World Economy, Marc Lee, of the Canadian Centre for Policy Alternatives, contends that the growing global gap between rich and poor is one of the most pressing issues of our time. Lee discusses two forms of inequality – inequality between nations and within them. He asserts that growing interconnections as a result of globalization mean that inequality is cause for concern in wealthier nations. The driving force behind inequality, according to Lee, is neo-liberal economic policy – privatization, restrictive fiscal and monetary policies, and financial liberalization – proposed by rich countries as the “cure” for the plight of the poor. Lee concludes by calling for radical changes in the economic order, changes he believes will address global inequality.