TRICKLE DOWN POISON
IMF and the World Bank
The International Monetary Fund (IMF) and the World Bank are
lending agencies, controlled by the "Group of 7" or G-7: United
States, United Kingdom, Japan, Germany, France, Canada, and Italy. The G-7
holds more than 40% of the votes on the boards of the World Bank and IMF
and therefore controls their policies, imposing economic austerity policies
on the so-called "Third World" or global South. Most countries
there have external debts that preclude their ability to adequately deliver
social services such as health care, education, and food security programs.
They cannot get cash or credit from any other source except the Bank, IMF,
and other similar international financial institutions, and must accept
the conditions demanded of them such as Structural Adjustment Programs.
Few of the countries borrowing from these institutions have emerged from
their debt problems and most have incurred higher debts than when they first
accepted IMF/World Bank "assistance."