Next month the world economic forum will hold its annual meeting for the first time here in New York City. Thousandsof anti-corporate globalization activists from here in the U.S. and other countries will converge as well, to protestthe neo-liberal policies promoted by the World Economic Forum, the International Monetary Fund, World Bank and otherinstitutions, which critics say increase poverty and inequality in developing countries. The critics’ case has beenbolstered by recent events in Argentina, where thousands of people have protested and rioted for food in recent daysin response to harsh austerity measures demanded by the IMF.
Two years ago IMF and World Bank announced they were re-formulating their policies to focus on poverty reduction, inresponse to years of criticism and protest from developing countries and anti-corporate globalization activists.
Now, development groups, say the results are in, and it turns out the IMF and World Bank and are sticking to economicprescriptions that may have increased poverty and joblessness in many nations and widened the gap between rich andpoor.
- Helen Wangussa, African Women’s Economic Policy Network.
- Shal Guttal, researcher with Focus on the Global South.