In July South African activists told IMF Managing Director Horst Köhler that the IMF was not welcome. They pointed out that the IMF made huge loans to apartheid South Africa during the late 1970s and early 1980s and called for the IMF to make reparations. The Campaign for Neoliberalism in South Africa concluded that the IMF has no role in a democratic society, and should begin the process of full debt cancellation and reparations for the enormous damage done to the region over the past few decades.
World Bank & IMF in the news
EarthRights International examines how the Jam v. IFC case has helped to shift the landscape of accountability for international financial institutions by successfully challenging their claim to “absolute” immunity in US courts, potentially opening IFC up to further legal challenges in future.