This article is part of a series by openDemocracy and the Bretton Woods Project on the crisis of multilateralism. The views expressed are those of the author's only, and are not necessarily representative of either organisation.
The consequences of IMF and World Bank policies have been traumatic for the people of South. They have increased poverty and inequality, deprived poor nations of their crucial resources, and directed their wealth towards the North. They have long played the central role in carrying out neoliberal offensive aimed at integrating the economies of the South by bringing about institutional changes in trade, export-oriented growth model, finance and technologies.
