INTERNATIONAL MONETARY FUND:
Neo-Liberal Bludgeon

Renowned economist Joseph Stiglitz in the London Guardian:

Yet the IMF was still lobbying to change its charter in order to force countries to liberalise capital markets, ignoring the evidence that this did not lead to enhanced growth or investment, but only to more instability. The crises that erupted later that year undermined confidence in the IMF and led to discussions about "reforming the global financial architecture".

Six years later, we can say that those discussions did not lead to much real change. The US Treasury and the IMF knew, or at least hoped, that with the passing of the crisis, global attention would turn elsewhere. On this point they were right.

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