IMF claims it is does not advocate austerity as Greek finance minister accuses IMF of economising with the truth and pushing harmful and counterproductive reforms.
IMF’s Independent Evaluation Office has found the Fund’s 2010/2011 Troika lending to Greece, Ireland and Portugal fell short in terms of surveillance, design, implementation and decision making, and described controversial decisions as appearing “rubber-stamped”.
As the world economy continues to stutter, many sub-Saharan African countries are turning to the Fund for financial support, though the Funds are coming with strict conditions to restrict spending.
A report by the UN independent expert on foreign debt, exploring inequality, financial crises and human rights, claims that IMF programmes are associated with a worsening of income distribution.
The IMF has changed its long-standing rule on lending to countries in arrears to official creditors, thereby avoiding having to cancel its $17.5 billion loan programme to Ukraine.
The more things change the more they stay the same... Infographic illustrates findings of new report on IMF Policy in the MENA Region.
IMF has been criticised for undermining negotiations between Greece and other creditors and ignoring the results of a democratic referendum.
Bodo Ellmers of Eurodad argues that, should the IMF not get repaid by Greece, it could finally shock the institution from being a “political puppet” into an effective crisis response instrument.