In whose interest? The role of our International Financial Institutions in a Post-Modern age

Screen-Shot-2015-03-03-at-16.35bThe International Monetary Fund and the World Bank have a profound impact on the global economy, affecting millions of lives world-wide. The WB purports to ‘end extreme poverty within a generation and boost shared prosperity’, and the IMF declares that its ‘fundamental mission is to help ensure stability in the international system’. Despite presenting themselves as anti-poverty and even anti-inequality champions, the operations of these deeply undemocratic organisations continue to be based on neo-liberal assumptions that frequently lead to economic disaster, environmental degradation, and social hardship, particularly in the poorer countries of the world. A new institution launched by the BRICS developing economies, the New Development Bank, is supposedly set to challenge the IFIs’ historic role supporting US economic hegemony, while in Europe their demands for austerity measures are generating strong opposition from the left. Sargon Nissan will discuss this evolving situation with us. He has a background in Finance and Development and manages the IMF and Finance Programme at theBretton Woods Project, a watchdog providing critical commentary on the functioning of the IFIs.

The role of our International Financial Institutions in a Post-Modern age – Sargon Nissan, 16/04/15 by Cafe Diplo on Mixcloud