What Do the World Bank and IMF Really Do for Needy Countries? Add More Poverty

The World Bank creates programs to allow international companies to invest in developing countries’ agriculture, health, and water as well as promote local enterprise — giving locals the assistance they need. Sound too good to be true? It probably is.

Jo Erickson
By Jo Erickson
Ecuador IMF Protest Photo of the day

Coming in with their guns, breaking down people’s doors, throwing my blankets and pans into the road and pulling my roof down, that’s what is happening here. They want us gone. Those were the words of Abdellahi, an Ethiopian farmer who was forcibly driven from his land by soldiers to make way for a World Bank $2 billion program that will hand over

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IMF Criticizes US Budget Sequestration, Again

“The budgetary procedure that is in place in the United States… seems to us absolutely inappropriate,” Christine Lagarde said.

Daniel DeFraia
By Daniel DeFraia
Argentina | IMF protest

International Monetary fund chief Christine Lagarde does not think too highly of the United States' relatively new federal budget. At an economists' conference in France's southern Aix-en-Provence, Lagarde said recent budget cuts, better known as the sequester, were inappropriate and could damage middle and long term growth. "The budgetary

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IMF’s Mea Culpa On Austerity Met With Anger, Vindication In Greece

“Really? Thanks for letting us know, but we can’t forgive you,” says one Greek.

Andrea Germanos
By Andrea Germanos
The marble statues of ancient Greek philosophers Plato, stand in front of the Athens Academy, as the Greek flag flies in Athens on Tuesday June 5, 2012. (AP Photo/Dimitri Messinis)

In a vindication of those who challenged the harsh austerity conditions, the International Monetary Fund (IMF) issued a report on Wednesday acknowledging that "notable failures" were made in its bailout to Greece. But the admission is too little, too late for many Greeks who have suffered "an economic death spiral" at the hands of the crushing

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