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Demonstrations were held at the IMF-World Bank venue in Marrakech, Morocco to protest against the two institutions, which the protesters alleged have been perpetrating inequality. It was organized by a Non-Governmental Organization (NGO) -People’s Alternative Global Tribunal
Demonstrations were held at the IMF-World Bank venue in Marrakech, Morocco to protest against the two institutions, which the protesters alleged have been perpetrating inequality. It was organized by a Non-Governmental Organization (NGO) -People’s Alternative Global Tribunal.
Demonstrators testified how the policies of the international financial institutions have impacted their countries in gnawing the inequalities. They found the international financial institutions guilty of fuelling inequality by colluding with the financial sector and powerful multinational corporations.
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The International Monetary Fund helps governments that find themselves in tough financial situations. But they insist on exchanging economic policies that are often seen as controversial when local social welfare programs are cut, and currencies sink in value. The World Bank and IMF provide development aid but are often seen as slow and cumbersome lenders. There is a growing demand to redefine and recast the Bretton Woods institutions, which are facing a growing chorus of criticism over the under-representation of the poorest countries in their decision-making processes. The IMF and the World Bank have announced plans to grant Africa additional seats on their boards but are awaiting implementation.
