Issues / Democracy & Governance

Despite the IMF's reformist rhetoric about "bailing in" foreign investors and distributing adjustment costs more equitably, there is nothing novel about the new IMF standby credit. It is once again about bailing out banks and bondholders.
At the UN and elsewhere, the U.S. has mounted a campaign to purge international civil servants judged to be out of step with Washington in the war on terrorism and its insistence that the U.S. have the last word in all global governance issues.
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