How the IMF and World Bank Sell Exploitation as Development Aid
The International Monetary Fund (IMF) and the World Bank were founded to help countries overcome financial crises and achieve successful economic development. Their 75-year track record tells a different story, however: loans and structural adjustment policies have placed poor countries in a precarious position. The debt trap has forced the developing world to focus on producing goods for Western consumption rather than fostering sovereignty and domestic industry. The "development and aid" of the IMF and the World Bank have been anything but. In reality, what we are dealing with is a history of neocolonial exploitation with shocking results.