Are the World Bank and IMF working for the people or for big finance? This years World Bank - IMF Watch focuses on a number of areas where the international financial institutions (IFIs) are sadly hurting, the lives of people in the Global South. As Europe grabs the attention on debt issues, the continued debt distress of Southern nations has fallen off the international agenda. This edition of World Bank – IMF Watch shows how unsustainable and often illegitimate debts continue to be repaid by Southern nations. We highlight how Argentina awaits the judgment of a United States (US) court on whether an opportunistic "vulture fund" can claim over a billion dollars from its coffers. How the people of Zimbabwe await to see if they must repay debt arrears accumulated over decades of unjust rule and dodgy international lending relationships. How Jamaica is being put through yet another round of austerity measures, while the IFIs fail to support outright debt cancellation.
The report concentrates on a number of current, critical developments at the IFIs which are of high concern to justice groups worldwide. The report outlines a set of recommendations for action on specific issues.
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