Information Agency. News and Views through the Global South
BRATISLAVA, Sep 25 2009 (IPS) – When some Eastern European states encountered collapse that is economic the financial meltdown took hold, the Global Monetary Fund (IMF) stepped in and offered governments huge loans.
But, because the G20 summit in Pittsburgh considers reform of this IMF, some economists and sociologists are now actually asking whether or not the social and financial cost of staying with the strict credit conditions that was included with them might not be excessive for a few.
Mark Weisbrot, co-director regarding the Washington-based tank that is think the Centre for Economic and Policy Research told IPS: “The IMF loans are making the commercial and social circumstances in these nations worse.