Egypt, Ukraine, South Africa and Ecuador have recently signed IMF loan programmes that involve severe austerity measures.
Bosnia and Herzegovina
Originally created to help the poor escape poverty and deprivation, the World Bank became the most important advocate for the commercialised microcredit model. Yet, critics argued it undermined the chances of sustainable and equitable development to create a poverty trap of historic proportions.
The Multilateral Investment Guarantee Agency (MIGA), a private sector arm of the World Bank Group announced that it is collaborating with the European Union to provide a $23.