The IMF is an international institution of 190 member countries. Such anti-growth policies, delivered in line with the IMF diktat, have been shown in the majority of cases to have actually increased countries’ dependence on the IMF over time. Unless and until the IMF alongside its partner the World Bank changes the modus operandi, over time their influence will diminish on the global stage. For the last 10 years, China has increased its loans in billions through the policy banks: China Exim Bank. Only these changes can promote sustainable economic growth and prosperity for the poverty-stricken Global South and keep the IMF’s influence intact as a global financial institution.

Source: The Express Tribune October 23, 2023 16:08 UTC