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Article: International Monetary Fund and World Bank
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- Encyclopedia of American Foreign Policy
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International Monetary Fund and World Bank
Francis J. Gavin
If the success of institutions were judged by the breadth and passion of their critics, then both the International Monetary Fund (IMF) and the International Bank for Reconstruction and Develop
ment (World Bank) would count among the most effective multilateral organizations in the world. Beginning in the late 1990s it became an annual ritual for tens of thousands of anti-globalization protesters to descend upon Washington, D.C., in late September to disrupt their annual meetings. But the left has had no monopoly on criticism of the IMF and World Bank. Republican U.S. congressmen and free-market economists have long ...