The Direct Contribution of the International Financial System to Global Poverty
14 Pages Posted: 19 Dec 2013
Date Written: December 14, 2013
The international financial system has made a major, direct and sustained contribution to global poverty for the past 30 years. It has worsened it. It has done so in two main ways. First, the analytical framework and perspective the International Monetary Fund has brought to its role in developing countries has served to promote and entrench poverty. Secondly, the socialisation of private sector debt which the IMF has orchestrated or been complicit in has directly contributed to poverty in many countries.
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